The Living Room Furniture market in Oman has been experiencing steady growth in recent years.
Customer preferences: Omani consumers have shown a growing preference for modern and contemporary styles of living room furniture. This trend is in line with global preferences, as modern designs are known for their sleek and minimalist aesthetics, which are favored by many consumers worldwide. Additionally, Omani consumers also prioritize functionality and durability when choosing their living room furniture. They are looking for furniture pieces that not only look good but also offer practical features and can withstand the test of time.
Trends in the market: One of the key trends in the Living Room Furniture market in Oman is the increasing demand for multifunctional furniture. As living spaces in Oman tend to be smaller compared to other countries, consumers are looking for furniture that can serve multiple purposes. For example, they are interested in sofa beds that can be used as seating during the day and transformed into a bed at night. This trend is driven by the need to optimize space and make the most out of limited living areas. Another trend in the market is the rising popularity of eco-friendly and sustainable furniture. Omani consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking furniture made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is in line with global sustainability movements and reflects a growing concern for the environment among consumers in Oman.
Local special circumstances: Oman has a growing expatriate population, which has had an impact on the Living Room Furniture market. Expatriates often bring their own furniture from their home countries, which can lead to a lower demand for new furniture in the local market. However, there is still a significant market for living room furniture due to the constant influx of expatriates and the need for replacement furniture over time.
Underlying macroeconomic factors: The growth of the Living Room Furniture market in Oman can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has resulted in an increase in disposable incomes for consumers. As a result, consumers have more purchasing power and are able to invest in higher-quality living room furniture. Additionally, the construction industry in Oman has been booming, leading to an increase in the number of new homes and residential developments. This has created a demand for living room furniture as homeowners furnish their new properties. The growth in the real estate sector has also led to an increase in the number of hotels and resorts, which require furniture for their public spaces and guest rooms. In conclusion, the Living Room Furniture market in Oman is developing in response to customer preferences for modern and functional designs. The market is also influenced by trends such as the demand for multifunctional and eco-friendly furniture. Local special circumstances, such as the presence of a large expatriate population, and underlying macroeconomic factors, including economic growth and a booming construction industry, further contribute to the development of the market.
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.
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