Saudi Arabia Furniture Market is driven by Vision 2030 that aim at promoting tourism, foreign investment and increased house ownership: Ken Research

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“Rising number of furniture manufacturers and retail outlets, the surge in online retail activities, residential construction, an increasing number of hotels and resorts, rising ownership of residential properties and changing consumer preferences towards the furniture has driven the demand for KSA furniture market.”

Analysts at Ken Research in their latest publication Saudi Arabia Residential, Hospitality, and Commercial Furniture Market Outlook to 2023 – By Bedroom Furniture (Beds, Mattresses, Wardrobes, and Chest of Drawers), By Living Room (Sofas, Sofa Cum Beds, Coffee Tables and Center Tables, TV Furniture and Stools, Dining Room, Kitchen, and Kids Furniture; By Commercial Furniture(Workstation Desks, Office Chair, Conference Table, Corner Table and Office Storage)” suggests that retailers should develop a strategic alliance with real-estate developers so as to provide them with furniture products for their upcoming projects in order to derive the benefits mutually.Saudi Arabia Furniture Industry

Emergence of Foreign Players in the Market: The growing demand for furniture has elevated the scope for foreign players to sell their products in the Saudi Arabia market. Increase in the number of global players has led to a larger portfolio of products to choose from for the customers. A Swedish company, IKEA which entered the Saudi Arabia market in 1985 has established itself as a reputed brand known for both low cost and high-quality products.

Highly Competitive Environment of the Furniture Market of Saudi Arabia: The furniture market of Saudi Arabia has become highly competitive and fragmented. The domestic players are getting overshadowed by the offerings of global players characterized by high quality and low-cost product offerings which are often imported.

Changing Buying Pattern: The replacement cycle for furniture has decreased over the years because Saudi people change their furniture more often these days. Upgrading furniture once in every 2-3 years has increased the demand for furniture. Consumer Spending in Saudi Arabia increased to SAR 284.8 Billion in the first quarter of 2019 from SAR 282.2 Billion in the fourth quarter of 2018. Increasing disposable income of people has made them capable of upgrading and changing their furniture regularly. Kid’s furniture is on rising demand due to a short replacement cycle as a result of the growing age of children.

Growing Need for Customized Furniture: With the increase in internet penetration rate to 88.4% in 2018, people have got easy access to ideas. The young population of Saudi Arabia relies on global furniture ideas available on the internet to get their furniture customized. They prefer to adopt global furniture designs and bring a change in the aesthetics of their house. It does not only help them in saving a lot of money but also adds uniqueness to their house.

Key Segments Covered:-

Market Structure

Organized Segment

Unorganized Segment

Material Used

Wood

Glass

Metal

Plastic

Others (Bamboo and MDP)

End Users

Residential Purpose

Bedroom Furniture

Beds

Beds without Storage

Beds with Storage

Size of Beds

Single Size Bed

Double Size Bed

Queen Size Bed

Material Used in Beds

Wood

Steel

Mattresses

Chests of Drawers

Wardrobe

Living Room Furniture

Sofa

Material Used in Sofa

Fabric

Leather

Sofa Seating Furniture

3+2 Seating

3+2+1+1 Seating

Other Seating Pattern

Coffee Table and Centre Table

Material Used in Coffee Table and Centre Table

Wood

Steel and Glass

Sofa cum Bed

Others (TV Cabinets and Stools)

Dining Table Furniture

Material Used in Dining Table

Wood

Others (Steel and Glass)

Seating Arrangement of Dining Table

< 6 Chairs

6-8 Chairs

8 Chairs

Type of Kitchen Furniture

Modular

Regular

Outdoor Furniture

Style of Residential Indoor Furniture

Modern and Contemporary

Traditional or Classic

Hospitality Furniture

Commercial

Type of Office Furniture

Workstation Desk

Office Chair

Conference Table

Corner Table

Office Storage

Key Target Audience

Furniture Retailers

Furnishings Retailers

Private Equity Companies

Contract Furniture Manufacturers

Furniture Association

Government Associations

Real Estate Developers

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019-2023

Companies Covered

IKEA

Home Centre

Almutlaq Furniture

Al-Rugaib Furniture

Al Jedaie Office Furniture

El Ajou Group

Key Topics Covered in the Report:-

Online Furniture Retailing KSA

Saudi Arabia Furniture Import Volume

Saudi Arabia Furniture Export Revenue

KSA Chests of Drawers and Wardrobe Market

Saudi Arabia Beds and Mattresses Market

KSA Coffee Table and Centre Table Market

KSA Sofa cum Bed Furniture Market Analysis

Wooden Furniture Market Saudi Arabia

Glass Furniture Market Saudi Arabia

KSA Residential Indoor Furniture Market

Pepper Fry Furniture Market in Saudi Arabia

Urban Ladder SWOT Analysis KSA

Office Furniture Market in Riyadh

Furniture industry of Saudi Arabia

For Information Click On the Below Mentioned Link:-

Saudi Arabia Residential, Hospitality and Commercial Furniture Market Outlook

Related Reports by Ken Research:-

UAE Home Furniture and Furnishing Market Outlook to 2022 – By Living Room Furniture (Sofa, Sofa Cum bed, Other Sitting Furniture, Coffee Tables, Others), Bedroom Furniture (Bed, Mattresses, Wardrobes, Chest of Drawers), Dining Room, Home Office, Kitchen Furniture and Furnishing (Home Textile, Window Covering, Barbeques, Lightning Products)

Australia Furniture Market Outlook to 2022 – By Residential (Bedroom, Living Room, Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other Residential Furniture), Hospitality and Commercial Furniture, by Home Furnishing (Indoor, Outdoor and Lighting)

Philippines Furniture Market by Type (Home – Bed Room, Living Room, Dining Room, Kitchen Furniture; Office; Hotel & Industrial), by Sales (Domestic and Export) – Outlook to 2021

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Sales@kenresearch.com

+91-9015378249

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