Market Size of GCC Multifunctional Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Multifunctional Furniture Market Analysis
The GCC furniture market is expected to witness strong growth during the forecast period, owing to factors such as the rising population and increased construction activity. The furniture industry has become one of the GCC region's most vibrant and fast-growing industries. The growing number of real estate developments, the increasing demand for residential properties, and governmental initiatives to develop socio-economic infrastructure are some of the major factors fuelling the demand for furniture products in the region.
Due to covid-19, The crisis has altered how people shop by adapting to new technologies. Shopping for furniture is now a decision of buying virtually. The product images talk in every corner of the website with self-explanatory labels. People also want to shop from the convenience of their mobile phones or tab. So, your website should also be mobile responsive, making it easy for them to browse smoothly. In GCC, the major impact of Covid-19 on the furniture industry will be through the supply chains. Furniture brands need to develop an effective supply chain response plan to mitigate risk and prepare for any interruptions that the coronavirus outbreak can cause
