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Report
UAE Home Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The UAE Home Furniture Market has generated a revenue of USD 1.9 billion in the current year and is poised to grow at a CAGR of greater than 3.91% during the forecast period.
In the United Arab Emirates, people are increasing their spending on renovating homes (furniture, kitchens, bathrooms, and flooring), and are investing in higher-quality products. In Abu Dhabi and Dubai, there are a large number of expats (more than 170 nationalities), therefore, the region is developing as a potential market for all types of furniture. Major raw materials that are required for the production of furniture products are wood. Some other inputs include fittings and finishing materials. It was observed that the demand for high-end luxury furniture items has increased over the years. Furniture items, which entail heavy fabric and leather, were more preferred by the people of the country.
This rise in demand has led to the growing domestic demand and the emergence of multiple players catering to the same target audience. Manufacturers and retailers operating in the region compete on almost the same grounds of quality of the product and the material used to manufacture the product. Branded furniture companies are slowly starting to take over this market. The COVID-19 pandemic has highly impacted commercial and residential construction activities, resulting in a significant drop in the revenue of furniture in UAE.
UAE Home Furniture Market Trends
Increasing Demand for Kitchen Furniture is Driving the Market
Residential kitchens have become the new living rooms in modern homes. It reflects the consumer's preference for feeling good and eating well in a hygienic setting. They have become a very important part of homes for making food in the country and are considered the hearts of the households. Consumers in the market are extensively interested in designing kitchens to their own level of preference and taste. Various factors, such as kitchen designs and type of furniture have become extremely important in the current scenario. Consumers are spending as much as AED 170,000-420,000/ USD (46,000-115,000) to revamp their kitchens. The industry is witnessing high consumer preference for German and Italian style of kitchens, owing to their high-end appeal and luxurious finishing. Homebuyers in Dubai are opting for best-looking kitchens, in order to enhance their cooking experience at home and replicate the food items from restaurants.
The Bedroom Furniture is Dominating the Market
The growing population and the influx of expatriates in the United Arab Emirates have led to an increase in demand for the number of residential spaces across the region. The sales of bedroom furniture increased in the country, in order to cater to the expanding customer base. Revenue from the sales of mattresses had a major share in the total market revenue of this segment.
UAE Home Furniture Industry Overview
The UAE furniture Market is Fragmented with many players. With the increase in nuclear families and rise in demand for residential apartments, the country is likely to witness an increase in the expat population, owing to the stability in oil prices in the near future. The development of key projects, like Caesars Palace, Fairmont, and other projects, may lead to the development of the tourism industry in the country.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in E-commerce is Driving the Market
4.3 Market Restraints
4.3.1 Economic Fluctuations
4.4 Market Opportunities
4.4.1 Smart and Connected Furniture
4.5 Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Innovations in the Industry
4.8 Impacts of COVID-19 on the market
4.9 Insights on Imports and Exports of Furniture type
4.10 Insights on Demographics and Buying Patterns among Consumers in the United Arab Emirates
5 MARKET SEGMENTATION
5.1 By Material
5.1.1 Wood Furniture
5.1.2 Metal Furniture
5.1.3 Plastic and Other Furniture
5.2 By Type
5.2.1 Living Room Furniture
5.2.2 Kitchen Furniture
5.2.3 Dining Room Furniture
5.2.4 Bedroom Furniture
5.2.5 Other Furniture
5.3 By Distribution Channel
5.3.1 Home Centers
5.3.2 Flagship Stores
5.3.3 Specialty Stores
5.3.4 Online Stores
5.3.5 Other Distribution Channels
5.4 By Emirates
5.4.1 Dubai
5.4.2 Abu Dhabi
5.4.3 Sharjah
5.4.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Inter IKEA Group
6.2.2 Home Centre
6.2.3 Royal Furniture
6.2.4 PAN Emirates Home Furnishings
6.2.5 Pottery Barn
6.2.6 Danube Home
6.2.7 Marina Home
6.2.8 Homes R Us
6.2.9 Natuzzi
6.2.10 Home Box
6.2.11 Others (Al Khalid Furniture Factory LLC, Space 3, Tm Furniture Industry)*
7 FUTURE OF THE MARKET
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