Saudi Arabia Furniture Market Size

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.