Furniture - Zimbabwe

Zimbabwe

In Zimbabwe, the Furniture market generates a revenue of US$205.50m in 2024.
It is projected to experience an annual growth rate of 4.83% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which has a market volume of US$73.90m in 2024.
When compared globally, United States leads in revenue generation with US$263bn in 2024.
In terms of per capita figures, the revenue generated per person in Zimbabwe is US$12.07 in 2024.
Despite economic challenges, the furniture market in Zimbabwe is experiencing a surge in demand for locally made, handcrafted pieces.

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 Zimbabwe has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and stylish furniture options, while local special circumstances and underlying macroeconomic factors have also played a role in the market's development.

Customer preferences: in the Furniture market have evolved to reflect global trends. Zimbabwean consumers are increasingly looking for furniture that is not only functional, but also aesthetically pleasing. They are drawn to modern designs and innovative features that enhance the overall look and feel of their homes. This has led to a rise in demand for furniture made from high-quality materials and with unique design elements. Trends in the market also indicate a growing interest in eco-friendly and sustainable furniture options. Zimbabwean consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out furniture that is made from recycled or renewable materials. This trend aligns with global efforts to promote sustainability and reduce carbon emissions.

Local special circumstances: have also contributed to the development of the Furniture market in Zimbabwe. The country has a rich cultural heritage, and there is a growing demand for furniture that reflects traditional Zimbabwean craftsmanship and design. This has created opportunities for local artisans and furniture manufacturers to showcase their skills and cater to a niche market.

Underlying macroeconomic factors: have also played a role in the growth of the Furniture market. Zimbabwe has experienced periods of economic instability in the past, but recent years have seen improvements in the country's economy. This has led to an increase in disposable income and consumer spending, which has translated into higher demand for furniture. Additionally, the government of Zimbabwe has implemented policies to promote local manufacturing and support the growth of industries such as furniture production. This has created a favorable business environment for furniture manufacturers and has encouraged investment in the sector. In conclusion, the Furniture market in Zimbabwe is experiencing growth due to evolving customer preferences, increasing demand for eco-friendly options, local special circumstances, and underlying macroeconomic factors. As the market continues to develop, it is likely that we will see further innovation and expansion in the industry.

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.