NEW YORK, Jan. 7, 2025 /PRNewswire/ — The global luxury furniture market in middle east size is estimated to grow by USD 401.7 million from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 4.2% during the forecast period. The report provides a comprehensive forecast of key segments below-
Segmentation Overview
- Application
- 1.1 Residential
- 1.2 Commercial
- Distribution Channel
- 2.1 Offline
- 2.2 Online
- Geography
- 3.1 Middle East
Get a glance at the market contribution of rest of the segments – Download a FREE Sample Report in minutes!
1.1 Fastest growing segment:
The Middle East luxury furniture market is experiencing notable growth, particularly in the residential segment. This segment includes furniture items such as lounge chairs, ottomans, sofas, tables, outdoor seating, and bedroom and dining furniture. Major players in this sector include MillerKnoll, IKEA, and Minotti. The residential segment’s growth is driven by the increasing demand for multifunctional and multipurpose luxury furniture, particularly foldable beds and extendable sofa sets. The luxury residential furniture market is categorized into living room, bedroom, dining and kitchen, and other residential furniture. The living room segment features reclining sofas, sofa cum beds, L-shaped sofas, and other items. The bedroom segment consists of king and queen beds, lounge chairs, and various storage solutions. The dining and kitchen furniture segment includes dining tables, chairs, and kitchen cabinets. New product launches are invigorating the growth of these segments in the Middle East. The luxury residential living room furniture segment comprises reclining sofas, sofa cum beds, L-shaped sofas, lounge chairs, nested tables, television units, shelves, and bookcases. The luxury residential bedroom furniture segment includes king and queen beds, lounge chairs, wardrobes, bedside tables, dressing tables, and storage solutions. The luxury residential dining and kitchen furniture segment consists of dining tables, chairs, and kitchen cabinets. Frequent product launches in these categories are driving the growth of the luxury residential living room, bedroom, and dining and kitchen furniture segments in the Middle East. Additionally, the other luxury residential furniture application segment includes outdoor furniture, kids’ furniture, swings and hammocks, canopies, wall shelves, swivels, and gliders. These factors are expected to continue driving the growth of the residential segment of the luxury furniture market in the Middle East during the forecast period.
Analyst Review
The Luxury Furniture Market in the Middle East is a thriving industry, catering to the region’s growing demand for high-end home furnishings. This market encompasses a wide range of products, including Lighting, Tables, Chairs and Sofas, Accessories, Cabinets, and more. The Residential and Commercial sectors are significant consumers of luxury furniture pieces, with Home Centers and Flagship Stores being popular shopping destinations. Luxury furniture is often crafted from High-quality materials such as Metal, Glass, and Wood, adding Aesthetic appeal to any space. Home renovation and Decoration projects are common applications for these pieces, with Schools, Homes, Offices, Kitchens, Outdoor areas, Bathrooms, Hospitality venues, and even RTA and Non-RTA establishments investing in them. Beds, Departmental Stores, E-commerce Websites, and other retail channels also contribute to the market’s growth. With a focus on innovation and design, the Middle East Luxury Furniture Market continues to attract both local and international buyers seeking unique and sophisticated home solutions.
Market Overview
The luxury furniture market in the Middle East is thriving, with a focus on high-end offerings in various segments. Lighting, Tables, Chairs and Sofas, Accessories, and Cabinets are popular categories, featuring Luxury furniture pieces made of high-quality materials such as Metal, Glass, and Wood. Real estate developments and markets in the sector continue to drive demand for residential and commercial spaces, fueled by oil price fluctuations. Home renovation and decoration projects in Homes, Offices, Hotels, Restaurants, and Schools are on the rise, with a preference for unique furniture pieces and aesthetic appeal. Tech-savvy consumers seek automation and digitalization, leading to a growing trend of multifunctional furniture and smart devices. Marketing campaigns on social media platforms cater to personalized shopping experiences, with both online and offline sales channels, including Home Centers, Flagship Stores, and Specialty Stores, offering a wide range of products, from Wood and leather upholstery to Plastic and RTA furniture. Online retailing through e-commerce websites is also gaining popularity in the Global e-retail industry, providing convenience and accessibility to consumers in the residential and commercial segments. Overall, the Middle East luxury furniture market is characterized by its focus on comfort, durability, and designer furniture for various residential and commercial purposes.
To understand more about this market- Download a FREE Sample Report in minutes!
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
