IMARC Group, a leading market research company, has recently releases report titled “GCC Furniture Market Report by Material (Metal, Wood, Plastic, Glass, and Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others), End Use (Residential, Commercial), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the GCC furniture market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the GCC Furniture Market?
The GCC furniture market size is expected to exhibit a growth rate (CAGR) of 7.29% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Growth Rate 2024-2032 | 7.29% |
GCC Furniture Market Trends and Drivers:
The rising real estate sector as well as a substantial focus on tourism and hospitality infrastructure across the region are the factors responsible for the growth of the GCC furniture market. Additionally, there is an escalating demand for furniture owing to the growing development of luxury hotels, commercial spaces, and high-end residential projects, which is fueling the market. This trend is further influenced by the increasing number of expatriates and a rising affluent population, which are key contributors to the upscale market segment. Moreover, mega-events such as the Dubai Expo and the upcoming FIFA World Cup have necessitated extensive furniture procurement for hospitality and public viewing areas, pushing the need to new heights.
There is a growing consumer preference in the GCC for customized and luxury furniture, reflecting a broader global trend toward personalization and exclusivity. This shift is influencing local and international furniture manufacturers to offer more bespoke services and products that cater to the special tastes and preferences of the Middle East market. Additionally, the integration of sustainable practices and eco-friendly materials in furniture design is also gaining traction, driven by increased environmental awareness and regulatory policies promoting sustainability. Furthermore, the digital transformation within the sector, characterized by the rise of online furniture retailing, is making it easier for consumers to access a wide range of products, enhancing competition and innovation, which is anticipated to drive the GCC furniture market over the forecasted period.
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GCC Furniture Market Report Segmentation:
The report is organized into distinct sections as follows:
By Material:
- Metal
- Wood
- Plastic
- Glass
- Others
By material, the market is segmented into metal, wood, plastic, glass, and others.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty stores
- Online stores
- Others
By distribution channel, the market is divided into supermarkets and hypermarkets, specialty stores, online stores, and others.
By End Use:
- Residential
- Commercial
By end use, the market is segmented into residential and commercial.
By Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
Country wise, the market has been segmented into Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Bahrain.
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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