Furniture - Angola

Angola

The revenue generated by the Furniture market in Angola amounts to US$876.90m in 2024.
It is projected that the market will experience an annual growth rate of 6.19% (CAGR 2024-2029).
The largest segment within the market is the Home Décor segment, with a market volume of US$292.50m in 2024.
In comparison to other countries around Worldwide, United States generates the highest revenue with US$263bn in 2024.
When considering the total population of Angola, the per person revenue generated in 2024 amounts to US$23.20.
Angola's furniture market is experiencing a surge in demand for locally crafted, sustainable wooden furniture, reflecting a growing interest in supporting local artisans and eco-friendly products.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The furniture market in Angola has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and stylish furniture designs, and there is a growing demand for high-quality and durable furniture products. This trend is driven by several factors, including increasing disposable income, urbanization, and changing lifestyles.

Customer preferences: Angolan customers are increasingly looking for furniture that not only serves a functional purpose but also adds aesthetic value to their homes. They are willing to invest in well-designed and durable furniture pieces that can withstand the test of time. The demand for modern and contemporary furniture styles has been on the rise, with customers seeking sleek and minimalist designs. Additionally, there is a growing interest in eco-friendly furniture options, as customers become more conscious of sustainability and environmental impact.

Trends in the market: One of the key trends in the Angolan furniture market is the growing popularity of online shopping. With the increasing availability of internet access and the convenience it offers, more customers are opting to purchase furniture online. This trend has led to the emergence of online furniture retailers and marketplaces, providing customers with a wide range of options and the convenience of doorstep delivery. Another notable trend in the market is the rise of customized furniture. Customers are increasingly looking for furniture pieces that are tailored to their specific needs and preferences. This trend is driven by the desire for unique and personalized furniture items that reflect individual style and taste. As a result, furniture manufacturers and retailers are offering more customization options, allowing customers to choose from a variety of materials, colors, and finishes.

Local special circumstances: The Angolan furniture market is influenced by the country's unique cultural and social factors. Traditional Angolan furniture designs, such as those featuring intricate woodcarvings and vibrant colors, continue to hold significance for many customers. These traditional designs are often incorporated into modern furniture pieces, creating a fusion of traditional and contemporary styles.

Underlying macroeconomic factors: The growth of the furniture market in Angola is closely tied to the country's macroeconomic factors. Angola has experienced steady economic growth in recent years, driven by its oil exports and investments in infrastructure development. This has resulted in an increase in disposable income and improved living standards for many Angolans. As a result, consumers have more purchasing power and are able to invest in higher-quality furniture products. Urbanization is another key factor contributing to the growth of the furniture market. As more people move from rural areas to urban centers, there is a greater demand for furniture to furnish new homes and apartments. This trend is expected to continue as Angola's urban population continues to grow. In conclusion, the furniture market in Angola is experiencing growth due to changing customer preferences, including a shift towards modern and stylish designs. The rise of online shopping and customization options are also shaping the market. Additionally, local cultural influences and macroeconomic factors, such as increased disposable income and urbanization, are driving the demand for furniture in Angola.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.