Saudi Arabia Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.90 Billion |
| Market Size (2029) | USD 11.25 Billion |
| CAGR (2024 - 2029) | 4.79 % |
| Market Concentration | Low |
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?
Saudi Arabia Furniture Market Analysis
The Saudi Arabia Furniture Market size is estimated at USD 8.90 billion in 2024, and is expected to reach USD 11.25 billion by 2029, growing at a CAGR of 4.79% during the forecast period (2024-2029).
The furniture market in Saudi Arabia is currently experiencing a continuous growth phase, driven primarily by foreign home interior platforms. Various factors, such as the expansion of the real estate sector, increasing demand for residential properties, and government efforts to improve socio-economic infrastructure, contribute to this growth. The demand for furniture in sectors like hotels, offices, and industries is also rising due to urbanization and economic development. Foreign investors actively seek opportunities to expand their furniture product lines in different parts of Saudi Arabia. Furthermore, there is a growing demand for high-end furniture that represents wealth and social status within the country. The popularity of multi-functional furniture is also increasing due to its space-saving features and versatility. Additionally, there has been a shift toward online retailing in the furniture market in Saudi Arabia. Prominent retailers like Home Center and IKEA have embraced this trend by introducing online stores to cater to the evolving needs of consumers.
Furthermore, the ongoing expansion of infrastructure is driving market growth, particularly in the construction of residential buildings, community centers, hospitals, and educational institutions. This surge in construction projects is creating a demand for furniture that meets the specific needs of these establishments. In response, furniture manufacturers are introducing new designs and utilizing various materials to incorporate additional features while maximizing space efficiency. This trend fuels the demand for modern furniture, especially among those who see luxury as a status symbol, leading to market growth. Additionally, with the rapid advancements in technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and Deep Learning, key players in the Saudi Arabia Furniture Market are integrating these technologies into their products. This integration has resulted in intelligent furniture, including charging phone lamps, smart home devices, smart beds, and tablet coffee tables. The desire for advanced and luxury items as symbols of status also drives the demand for furniture in Saudi Arabia. This increasing demand is expected to positively impact the growth of the furniture market in Saudi Arabia during the forecast period.
Saudi Arabia Furniture Market Trends
Growth in the Construction Sector Boosting the Demand for Furniture Products
This growth in the construction market is creating opportunities for furniture manufacturers and retailers to expand their presence in Saudi Arabia. With the increasing demand for residential units, there is a growing need for quality and stylish furniture to furnish these homes. This has led to a rise in the number of furniture stores and online retailers catering to the needs of the growing population. The Saudi Arabian furniture market is being shaped by the government's emphasis on sustainable development and green building practices. This has led to growing demand from consumers for eco-friendly and sustainable furniture options, prompting a transition toward environmentally conscious materials and designs within the industry. Additionally, the growing presence of smart home technology and the surge in popularity of home automation systems are also influencing the furniture market in Saudi Arabia. Consumers are seeking furniture that can seamlessly incorporate and complement these technologies, driving the need for innovative and tech-savvy furniture offerings.
Asia-Pacific is Expected to Hold Significant Market Share
In Saudi Arabia, the furniture market is divided into different segments based on their intended use, including home furniture, office furniture, hospitality furniture, and other furniture. The home furniture category has a larger market share in Saudi Arabia, mainly due to the growing real estate market and the increasing demand for residential properties. This has led individuals to purchase new furnishings when they move. Within the residential furniture sector, the sales of living and dining room furniture are particularly strong, followed closely by bedroom furniture. Government initiatives that promote property ownership in Saudi Arabia also contribute to the demand for furniture products in the home furniture segment, further establishing its importance in the market.
In 2022, the Saudi Arabian furniture market experienced a significant dominance in revenue generation from the sale of home furniture. The increasing number of real estate developments and the rising demand for residential properties have contributed to the growing need for home furniture products. When individuals move into new houses, they tend to prefer acquiring new furniture items. Within the home furniture category, the sales are primarily concentrated in the living and dining room furniture segment, followed by the bedroom furniture segment. Additionally, the Government of Saudi Arabia is actively promoting residential property ownership, which is expected to further drive the demand for furniture products in the foreseeable future.
Saudi Arabia Furniture Industry Overview
The furniture industry in Saudi Arabia is highly fragmented due to increasing demand, leading to fierce competition between local and international companies. Disruption in the industry has been caused by companies like IKEA, while organized players have found success through strategic marketing and promotions. Competition is influenced by factors such as store numbers, pricing strategies, material choices, product variety, online presence, and distribution channels. Major players in the industry include Saudi Modern Factory, Riyadh Furniture Industries Company, Al Mutlaq Furniture, Al Aamer Furniture, and Al-Abdulkadber Furniture Company Ltd.
Saudi Arabia Furniture Market Leaders
Saudi Modern Factory
Al Aamer Furniture
Al-Abdulkadber Furniture Company Ltd.
Almutlaq Holding
Al Jedaie
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Furniture Market News
- March 2024: Al-Futtaim IKEA, the region's foremost Swedish home furnishing retailer, is thrilled to introduce its groundbreaking "Store of Tomorrow," which is set to transform the retail industry by prioritizing play, discovery, and family-oriented experiences. With an unwavering dedication to accessibility and affordability, Al-Futtaim IKEA welcomes customers to embark on a journey where playfulness and practicality harmoniously merge, providing a hassle-free shopping experience.
- June 2023: Al Mutlaq Group collaborated with Thriwe, a consumer benefits company, to enhance the customer experience and loyalty and rewards program in Saudi Arabia.
Saudi Arabia Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid Growth in Urbanization
4.2.2 Growing Awareness of Sustainable Furniture
4.3 Market Restraints
4.3.1 Fluctuating Raw Material Prices
4.4 Market Opportunities
4.4.1 Technological Advancements in Saudi Furniture Market
4.4.1.1
4.5 Industry Attractiveness -Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Current Trends and Technological Innovations in the Market
4.7 Insights into Exports and Imports Trends in the Market
4.8 Impact of COVID-19 on the market
5. MARKET SEGMENTATION
5.1 By Material
5.1.1 Wood
5.1.2 Metal
5.1.3 Plastic & Other Materials
5.2 By Application
5.2.1 Home Furniture
5.2.2 Office Furniture
5.2.3 Hospitality Furniture
5.2.4 Other Applications
5.3 By Distribution Channel
5.3.1 Supermarkets & Hypermarkets
5.3.2 Specialty Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Al-Abdulkader Furniture Co. Ltd.
6.2.2 Riyadh Furniture Industries Co.
6.2.3 Al Jedaie
6.2.4 AL Rugaib Furniture
6.2.5 Saudi Modern Factory Company
6.2.6 AL Aamer Furniture
6.2.7 Almutlaq Furniture
6.2.8 Wardeh Salehiya
6.2.9 HABITAT FURNITURE CO. LTD.
6.2.10 Midas Furniture
6.2.11 Gautier Jeddah
6.2.12 BoConcept
6.2.13 IKEA
6.2.14 HomeCenter*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
Saudi Arabia Furniture Industry Segmention
Furniture is essential for homes and businesses, providing comfort and style. The demand for modern furniture has increased, leading to a wide selection of items like tables, chairs, beds, and cabinets. Different materials like plastic, wood, and metal are used to meet various preferences. The Saudi Arabian furniture market is segmented by type, application, and distribution channel. By type, the market is segmented into wood, metal, plastic, and other furniture. By application, the market is segmented into home furniture, office furniture, hospitality furniture, and other furniture, and by distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online, and other distribution channels. The report offers market size and forecasts for the Saudi Arabian furniture market in value (USD) for all the above segments.
| By Material | |
| Wood | |
| Metal | |
| Plastic & Other Materials |
| By Application | |
| Home Furniture | |
| Office Furniture | |
| Hospitality Furniture | |
| Other Applications |
| By Distribution Channel | |
| Supermarkets & Hypermarkets | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
Saudi Arabia Furniture Market Research Faqs
How big is the Saudi Arabia Furniture Market?
The Saudi Arabia Furniture Market size is expected to reach USD 8.90 billion in 2024 and grow at a CAGR of 4.79% to reach USD 11.25 billion by 2029.
What is the current Saudi Arabia Furniture Market size?
In 2024, the Saudi Arabia Furniture Market size is expected to reach USD 8.90 billion.
Who are the key players in Saudi Arabia Furniture Market?
Saudi Modern Factory, Al Aamer Furniture, Al-Abdulkadber Furniture Company Ltd., Almutlaq Holding and Al Jedaie are the major companies operating in the Saudi Arabia Furniture Market.
What years does this Saudi Arabia Furniture Market cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Furniture Market size was estimated at USD 8.47 billion. The report covers the Saudi Arabia Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Saudi Arabia Furniture Industry Report
Statistics for the 2024 Saudi Arabia Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Furniture analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
