Furniture - Central Africa

Central Africa

In Central Africa, the revenue in the Furniture market in 2024 amounts to US$1,285.00m.
It is projected that the market will experience an annual growth rate of 4.95% (CAGR 2024-2029).
The largest segment in the market is the Home Décor segment, which has a market volume of US$427.00m in 2024.
When compared globally, United States generates the highest revenue with US$263bn in 2024.
In terms of per person revenues, in Central Africa generates US$13.31 in 2024.
Central Africa's furniture market is experiencing a surge in demand for locally sourced, sustainable 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 Central Africa has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards more modern and stylish furniture designs. Consumers are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes. This change in preference can be attributed to the increasing urbanization and rising middle-class population in Central Africa. As people move to cities and their disposable incomes increase, they are willing to spend more on furniture that reflects their personal style and taste. Trends in the market indicate a growing demand for eco-friendly and sustainable furniture. With the increasing awareness of environmental issues, consumers in Central Africa are becoming more conscious of the materials used in furniture production. They are looking for furniture made from renewable resources and produced using environmentally friendly manufacturing processes. This trend is driven by a desire to reduce the carbon footprint and support sustainable practices. Another trend in the Furniture market in Central Africa is the rise of online shopping. The internet has revolutionized the way people shop, and furniture is no exception. Online retailers offer a wide range of furniture options, allowing customers to compare prices and styles from the comfort of their own homes. This convenience factor has contributed to the growth of online furniture sales in the region. Local special circumstances in Central Africa also play a role in the development of the Furniture market. The region is rich in natural resources, such as timber, which is a key material in furniture production. This availability of raw materials gives Central African countries a competitive advantage in the global furniture market. Additionally, the region's growing population and increasing disposable incomes provide a large consumer base for furniture manufacturers and retailers. Underlying macroeconomic factors also contribute to the growth of the Furniture market in Central Africa. Economic stability and positive gdp growth in the region have created a favorable business environment for furniture companies. Additionally, government initiatives to promote local manufacturing and support small and medium-sized enterprises have further stimulated the growth of the furniture industry. In conclusion, the Furniture market in Central Africa is developing due to changing

Customer preferences: including a shift towards more modern and stylish designs, a growing demand for eco-friendly and sustainable furniture, and the rise of online shopping.

Local special circumstances: such as the availability of natural resources and a growing population, also contribute to the market's growth.

Underlying macroeconomic factors: including economic stability and government support, further drive the development of the Furniture market in Central Africa.

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.