Home Office Furniture - South America

South America

In South America, the revenue generated in the Home Office Furniture market in 2024 amounts to US$1.61bn.
It is projected that the market will experience an annual growth rate of 3.80% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads the market with a revenue of US$18,920m in 2024.
In terms of per capita figures, each person in South America generates US$3.89 in revenue in 2024.
The demand for ergonomic and space-saving home office furniture is on the rise in South America, driven by the increasing number of remote workers in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Home Office Furniture market in South America is experiencing significant growth and development.

Customer preferences: Customers in South America are increasingly valuing comfort and functionality in their home office furniture. They are looking for ergonomic designs that promote productivity and support their long hours of work. Additionally, customers are seeking furniture that is aesthetically pleasing and fits well with the overall design of their homes.

Trends in the market: One of the key trends in the South American Home Office Furniture market is the growing popularity of multifunctional furniture. With limited space in many homes, customers are looking for furniture that can serve multiple purposes. This includes desks that can be transformed into dining tables or storage units that can double as seating. This trend is driven by the need to optimize space and make the most of the available square footage in homes. Another trend in the market is the increasing demand for environmentally friendly and sustainable furniture. Customers in South America are becoming more conscious of the environmental impact of their choices and are seeking furniture made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is driven by a growing awareness of the need to protect the environment and reduce carbon footprints.

Local special circumstances: One of the unique aspects of the South American market is the diversity of cultures and design preferences across the region. Each country in South America has its own distinct style and aesthetic preferences when it comes to home office furniture. For example, customers in Brazil tend to prefer bold and vibrant colors, while customers in Argentina may lean towards more minimalist and modern designs. This diversity in preferences presents both opportunities and challenges for furniture manufacturers and retailers operating in the region.

Underlying macroeconomic factors: The growth and development of the Home Office Furniture market in South America can be attributed to several underlying macroeconomic factors. Firstly, the increasing number of people working from home is driving the demand for home office furniture. This trend has been accelerated by the COVID-19 pandemic, which has forced many companies to adopt remote working policies. As a result, there is a greater need for furniture that can support productive and comfortable workspaces at home. Secondly, the rising middle class in South America is fueling the demand for home office furniture. As more people enter the middle class, they have greater disposable income to spend on furniture and other home goods. This has led to an increase in demand for high-quality, durable, and stylish home office furniture. Overall, the Home Office Furniture market in South America is experiencing growth and development driven by customer preferences for comfort and functionality, trends towards multifunctional and sustainable furniture, local special circumstances of diverse design preferences, and underlying macroeconomic factors such as the increase in remote work and the rising middle class.

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.