Market Size of GCC Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 14.52 Billion |
| Market Size (2029) | USD 20.88 Billion |
| CAGR (2024 - 2029) | 7.54 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC Furniture Market Analysis
The GCC Furniture Market size is estimated at USD 14.52 billion in 2024, and is expected to reach USD 20.88 billion by 2029, growing at a CAGR of 7.54% during the forecast period (2024-2029).
The region's furniture industry is being driven by a rise in residential property demand, real estate development, and government programs to build socio-economic infrastructure.
With the onset of the pandemic, the furniture industry in the GCC was heavily impacted due to the restrictions and lockdown in the initial period. In some cases, staff illness and absences have caused production to slow down. Due to a shortage of some products, including wood and fabrics, the lead times for client deliveries have also gotten longer. Since the GCC imports most of its furniture, the import of furniture for almost all countries decreased in 2020. The furniture industry bounced back with the rise in work and study in the latter half of 2020.
Increasing technological advances, rapid urbanization, growth in the housing sector, better living standards, and a rise in the need for comfort are the main things that drive the GCC furniture market. Demand is at an all-time high. Technological advancements have led to the development of smart furniture and are expected to drive market growth over the forecast period. Smart furniture offers advanced features. They are more energy-efficient than traditional furniture. According to government regulations, it is necessary to improve the current living spaces to make them more aesthetically pleasing and comfortable. The supply chain and labor were severely strained as a result, but the economy for the furniture industry improved. Saudi Arabia and the United Arab Emirates are the two largest furniture markets in the region. Most of the countries in the GCC region have an import-centric furniture market, so many foreign players are investing heavily in the region to expand their businesses and increase their presence in the furniture market of the GCC region.
