Saudi Arabian Home Furnishings Market: Types, Raw Materials, Market Trends, Competitive Challenges and Opportunities

1：Overview of Saudi Arabian Furniture Market

The furniture market in Saudi Arabia was worth 6.4 billion US dollars in 2022, with an expected compound annual growth rate of 8.46% by 2028. Due to the rapid changes in procurement models and the increasing preference for customized furniture in the construction industry. In addition, the increase in property ownership and the growing demand for smart and luxury furniture. The continuously expanding hotel industry is also an important component of the growth and expansion of the Saudi Arabian furniture market. Compared to July 2019, Saudi Arabia's foreign tourism industry increased by 121% in July 2022. In addition, due to the rapid expansion of hotel development projects, furniture sales across the country have increased.

2：Saudi Arabian furniture market scope

The Saudi Arabian furniture market includes different types of furniture, such as home, office, institutional, and hotel furniture. In addition, the market has been divided based on the raw materials used, such as wood, metal, plastic, and other materials (bamboo, rattan, etc.).

3：Saudi Arabian Furniture Market Trends

Due to affordable prices and compact designs, the demand for RTA furniture in the Saudi Arabian furniture market is constantly increasing. They are made of lightweight materials such as particle board and medium density fiberboard. RTA furniture also has some additional advantages that make it practical, such as being easy to disassemble and move, requiring less storage and transportation costs.

Young people in Saudi Arabia prefer to combine foreign furniture design with the furniture concept of the Internet to make furniture. Customers can customize furniture according to their preferences and comfort, and modify products and home aesthetics in a unique way.

4：Challenges in the Saudi Arabian furniture market

At present, due to the severe underdevelopment and low efficiency of the Saudi wood products industry, there is a huge supply-demand gap in the Saudi furniture market. The demand for foreign brands is increasing as domestic furniture manufacturers occasionally run out of raw materials and components. In addition, the government has been working to reduce its reliance on imports. For example, the government raised tariffs on imported furniture, which came into effect on June 10, 2020. Therefore, the combination of increased tariffs and a shortage of raw materials is a challenge for the expansion of the Saudi Arabian furniture market.

5：Recent market trends

In 2022, Home Center announced the opening of new stores in Mecca and Heller, with the goal of providing furniture and accessories. In addition, some platforms are providing innovative services for users to increase their customer base.

In 2021, the online platform Tamara launched the "Split in 6" feature, which is suitable for IKEA online shopping in Saudi Arabia. Customers can purchase IKEA products online and make payments in six installments without the need to pay interest or any other fees. In addition, some international companies are entering the Saudi Arabian market, which will accelerate market expansion.

6：Market opportunities

The demand for technological improvements in furniture in the furniture market is rapidly increasing. The demand for smart beds, tablet coffee tables, charging lights, and color changing tableware cabinets is growing rapidly. Modern furniture is more refined and practical, such as high-end sofa kits with USB ports, where customers can charge their smart devices. Arabian Furniture&Design Co., Bakri Furniture and other companies provide smart furniture, including smart beds, smart office chairs, smart tables, etc. Therefore, furniture companies can focus on strengthening product innovation and development to capture the market.

my country China  is currently the world's largest furniture exporter and occupies an important position in the global furniture export trade. On the other hand, my country is also the world's largest furniture producer, with concentrated industrial zones and a wide range of furniture types.my country's furniture industry belt is mainly divided into Southwest, South China, East China, Central China and Northwest China. There are 46 furniture industry bases, which have two major characteristics: industry concentration, mainly concentrated in East China and South China, especially Zhejiang and Guangdong; from products In terms of subdivided structure, the industrial belt is mainly dominated by metal furniture industrial areas and wooden furniture industrial areas.