Saudi Arabia Furniture Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Saudi Arabia Furniture Market Size

Saudi Arabia Furniture Market Trends & Growth Drivers

Modular Furniture Is Major Trend

• Modular furniture is trending in the kingdom since it serves multiple purposes, such as transforming a sofa into a bed, and it is compact enough to fit urban homes.
• It also offers advantages in terms of customization and space-saving, which are necessary in the upcoming housing projects.
• Its increasing acceptance in workspaces can be attributed to its flexibility in meeting different needs and varying team sizes.
• Desks and partitions, for instance, can be easily moved about to create multiple workspace layouts.

Urbanization and Housing Projects Are Biggest Drivers

• As the country expands its cities and develops new urban areas, the need for settling people will boost the demand for residential spaces. In turn, the need for living room, bedroom, kitchen, and dining furniture will increase.
• The government initiatives for increasing homeownership, such as Sakani, will boost the demand for basic home furniture.
• Furthermore, many new residential projects promise to provide an ultra-exclusive lifestyle with elegance and luxury. These projects will include luxury villas, which will have three to five bedrooms with distinct interior designs and a wide range of furniture.

Second-Hand Furniture Is Hindering Market

• Because it is not as costly as new furniture, second-hand furniture is negatively influencing this market, as it appeals to buyers on a limited budget as well as startups and small businesses.
• With a growing online market and presence of social media, the availability of second-hand furniture has increased over the past few years.
• People are showing interest in pre-owned furniture because it is budget-friendly, eco-friendly, and reduces waste.

Saudi Arabia Furniture Market Analysis

Product Insights

• The beds category holds the largest market share in 2024, of 35%. It is a necessary piece of furniture in every household and hotel, unlike many others, which may be optional or a requirement influenced by lifestyle.
• Because people spend between seven and nine hours every day in bed, they are increasingly replacing it to enhance the quality of sleep.
• In addition, box beds offer storage, which offers added convenience in the houses in towns and cities, as they enable the optimization of the available space.
• Moreover, the hospitality industry is seeing rapid expansion as part of Saudi Vision 2030, thus propelling the need for beds in the kingdom.
• Sofas and couches are expected to witness the fastest growth, with a compound annual growth rate of 5.5%, in the forecast period.
• They are the centerpiece of living rooms and serve as the main seating area for relaxation, socializing, and entertainment.
• Moreover, they are a symbol of aesthetics and luxury as they enhance the quality of life.

The products covered in this report are:

• Beds (Largest Category)
• Tables and Desks
• Sofas and Couches (Fastest-Growing Category)
• Chairs and Stools
• Cabinets and Shelves
• Others

Material Insights

• The wood category will acquire the largest Saudi Arabian furniture market share, in 2024 and witness the highest CAGR, in the forecast period. This is because most of the furniture bought in the country is made of wood.
• Wood offers many benefits, including toughness, simple upkeep, comfort, and a non-toxic nature.
• Wood can be crafted into a variety of styles, textures, structures, and designs, which renders it perfect for providing appealing aesthetics.

The materials analyzed in this report are:

• Metal
• Wood (Largest and Fastest-Growing Category)
• Plastic
• Glass
• Others

End User Insights

• The residential sector will acquire the larger share, of 65%, in 2024, and it will grow with the higher CAGR in the forecast period. The government aims to pump USD 17.3 billion in housing projects across the kingdom. For instance, The Line will be home to 9 million people by 2045.
• The construction industry is driven, in part, by the migration of people to the kingdom from all over the world.
• ROSHN, a national community developer with an aim for 70% homeownership by 2030, is contributing to the country’s real estate sector.
• Addressing the growing demand for housing, the Royal Commission for AlUla, in partnership with Riyadh-based property development firm Al Akaria, has launched Sidrat AlUla, which will offer 810 villas and apartments.

The end users in this report are:

• Residential (Larger and Faster-Growing Category)
• Commercial

Regional Analysis

Al Riyadh Is Largest Province

• Al Riyadh will hold the largest market share, of 40%, in 2024, driven by the initiation of a number of residential real estate projects, including New Murabba, Avenues Riyadh, and King Salman Park.
• ANB Capital and Alargan Projects Company have announced their partnership for the development of residential and commercial projects in Riyadh. A SAR-600 million Shariah-compliant closed private real estate investment fund will carry out the development on 500,000 square meters of land.
• The New Murabba project covers 19 square kilometers in Riyadh, on which a new city district will be created. This project will include 25 million square meters of floor area across residential units, hotels, and retail space.
• In Riyadh, a new hospitality plan by Accor includes a 250-key Sofitel Serviced Residence, a 230-key Raffles hotel, and a 60-villa MGallery resort by 2027. Moreover, there will be residential towers, office towers, and retail and commercial spaces.

The provinces analyzed in this report are:

• Al-Riyadh (Largest and Fastest-Growing Province)
• Makkah
• Al-Madinah
• Al-Qaseem
• Eastern Region
• Aseer
• Tabouk
• Hayel
• Northern Border
• Jazan
• Najran
• Al-Baha
• Al-Jouf

Saudi Arabia Furniture Market Share

The Saudi Arabian furniture market is fragmented in nature because a large number of companies offer furniture. Since carpentry is not a technically challenging task, even individual entities and stores are engaged in it. Further fragmentation is due to the existence of various national players with varied product offerings and the changing consumers preferences.