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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)

Region:Middle East

Author(s):Shivangi Sneha

Product Code:KR875

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Published on

September 2019

Total pages

180

Table of Content

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About the Report

About the Report

The report titled "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)" provides a comprehensive analysis of furniture products in the Saudi Arabia region. The report focuses on overall market size, market segmentation by market structure (organized and unorganized), type of material used for furniture (wood, glass, metal, plastic and others),  major end users (residential, hospitality and commercial), by residential furniture product categories (bedroom, living room, dining room, kitchen furniture, kids furniture and outdoor furniture), by living room (sofas, sofa cum beds, coffee tables and center tables, TV furniture and stools), by material used in sofa (fabric and leather), by sofa seating arrangement (3+2 seating, 3+2+1+1 seating, and others), by bed room furniture (beds, mattresses, wardrobes and chest of drawers), by beds (with storage and without storage capacity), by bed size (single bed, king-sized bed and queen sized-bed), by material used in beds (wood and steel), by material used in dining table (wood and others), by dining table seating arrangement (6 and 8 chairs, more than 8 chairs and others), by kitchen furniture (modern, and traditional) and others.
Saudi Arabia Residential, Hospitality and Commercial Furniture Market
 


Saudi Arabia Furniture Market Overview and Genesis

The furniture industry is operating at a maturity stage and is growing at a positive double digit CAGR during the review period of 5 years from 2013-2018. The industry was adversely hit during 2016-2017 due to recession in the real estate sector and the decline in oil prices in the recent past. The market recovered in 2018 and is anticipated to grow at a CAGR of 10% in next 5 years.
The preference towards multi-utilitarian furniture has also been increasing due to the benefits of less space requirement and multi-usage purposes offered. The ease of self-assemblage gives added benefit to the customer.
Investments in the real estate financing sector was expected to reach $21.3 billion in 2019 and one of the key targets of the Saudi Ministry of Housing is to increase Saudi home ownership to 70% by 2030. The number of Traditional houses and Apartments was expected to increase to 657,897 and 1,572,654 respectively by the year 2018.
Lastly, furniture has recently made their way through online retailing, for instance, retailers such as Home center and IKEA launched online stores to facilitate easy buying of furniture while relaxing at home.
 

Saudi Arabia Furniture Market Segmentation

By Market Structure (Organized and Unorganized Segment): The organized sector dominated the market revenues as retailers operating under this segment deal in high quality and designer products manufactured from MDF or solid wood during the year 2018.
The unorganized players rely majorly on price of the material whereby they tend to compromise with the quality of the product. The unorganized segment captured the remaining market share in terms of market revenue during the year 2018. Also, unorganized players procure raw material and labor locally. However, organized players often get furniture imported.
 

By End Users (Residential, Hospitality and Commercial):  The revenues accrued from the sale of residential furniture dominated the Saudi Arabia furniture market revenues in 2018. Bedroom furniture generated the maximum revenue during 2018 and is expected to increase with a CAGR of 7% during the time period 2019-2023. Mattresses and Beds will show a high growth of 12% and 9% respectively over the years from 2019-2023.
 
Hospitality furniture followed residential furniture in terms of revenue in the year 2018. The country has witnessed an increase in the total number of international tourists, from 18.6 million in the year 2017 to 23.6 million in 2018 as a result of increased promotion of tourism in Saudi Arabia. Construction of new hotels and resorts will drive the demand for hospitality furniture.
 
The remaining revenue share was taken up by the commercial furniture as the total office space in major commercial hubs of Saudi Arabia was forecasted to increase. Riyadh was expected to witness an estimated increase in office space to 3,500,000 sq meter GLA by the end of 2018, owing to the entrance of notable projects such as: Cayan Mefic Center, Al Rajhi Bank Tower and the Business Front. The office space in Jeddah and Eastern Province was expected to reach to 1,100,000 sq meter GLA and 1,050,000 sq meter GLA respectively by the end of 2018.
 

Comparative Landscape in Saudi Arabia Furniture Market

Saudi Arabia furniture market was observed to be highly fragmented with the presence of domestic as well as global players. Furniture in various price segments, including mass, economy, premium and luxury are designed by several retailers to cater to the needs of expanding customer base of all classes.
 
Over the years, the competition between the domestic and international players has intensified owing to the increase in demand for furniture products in Saudi Arabia. Companies with disruptive model like that of IKEA have acted as a significant threat to the unorganized sector. Organized players have been successful due to their high budget marketing campaigns and promotions which largely include the price reduction on MRP and high quality being offered at low cost. Some of the major competition parameters include number of stores, pricing, and type of material used in furniture, product SKUs, online presence / distribution channel and others.
 

Saudi Arabia Future Outlook and Projections

The furniture industry of Saudi Arabia is expected to grow at a positive double digit CAGR during the forecast period 2019-2023. Expected tailwinds include rising hotels and resorts room supply, expected increase in commercial space, increase customer budget allocation for multi-utility furniture and customer preference shift to premium modern-design furniture.
 

Key Topics Covered in the Report

  • Market Overview and Genesis
  • Value Chain Analysis
  • Market Size, 2013-2018
  • Saudi Arabia Furniture Market Segmentation, 2018
  • Trade Scenario, 2013-2017
  • SWOT Analysis
  • Supplier Selection Criteria
  • Decision Making Parameters
  • Trends and Developments
  • Issues and Challenges
  • Competitive Landscape
  • Future Outlook and Projections, 2019-2023
  • Analyst Recommendations
  • Online Retailing Success Stories of Major Indian Furniture Retailers

Products

Products

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

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
Companies Covered
  • IKEA
  • Home Centre
  • Almutlaq Furniture
  • Al-Rugaib Furniture
  • Al Jedaie Office Furniture
  • El Ajou Group

Table of Contents

Table of Contents

1. Executive Summary

2. Research Methodology

2.1. Market Definitions

2.2. Abbreviations

2.3. Market Size and Modeling

Approach – Market Sizing

Variables (dependent and independent)

Multi Factor Based Sensitivity Model

Limitations

Final Conclusion

3. Market Overview and Genesis (Historical Evolution, Growth Drivers, Emerging Trends, Overview of Commercial Furniture and Overview of Hospitality Furniture)

4. Value Chain Analysis (Major Entities in the Value Chain and Challenges faced in the Value Chain)

5. Market Size on the basis of Revenue, 2013-2018

6. Saudi Arabia Furniture Market Segmentation, 2018

6.1. Market Structure (Organized and Unorganized Segment), 2018

6.2. Type of Material Used (Wood, Glass, Metal, Plastic and Others), 2018

6.3. End Users (Residential, Hospitality and Commercial), 2018

6.4. Type of Residential Purpose (Bedroom, Living Room, Dining, Kitchen, and Outdoors), 2018

6.4.1. Type of Bedroom Furniture (Beds, Mattresses, Chests of Drawers and Wardrobe), 2018

Bed Storage (Beds without Storage and Beds with Storage), 2018

Size of Beds (Single Size Bed, Double Size Bed and Queen Size Bed), 2018

Material Used in Beds (Wood and Steel), 2018

6.4.2. Type of Living Room Furniture (Sofa, Coffee Table and Centre Table, Sofa cum Bed and 
Others), 2018

Material Used in Sofa (Fabric and Leather), 2018

Sofa Seating Furniture (3+2 Seating, 3+2+1+1 Seating and Others), 2018

Material Used in Coffee Table and Centre Table (Wood and Steel and Glass), 2018

6.4.3. Type of Dining Furniture

Material Used in Dining Table (Wood and Others), 2018

Seating Arrangement of Dining Table (< 6 Chairs, 6-8 Chairs, >8 Chairs), 2018

6.4.4. Type of Kitchen Furniture (Modular and Regular), 2018

6.4.5. Style of Residential Indoor Furniture (Modern/Contemporary and Traditional/ Classic), 
2018

6.5. By Commercial Purpose (Workstation Desk, Office Chair, Conference Table, Corner Table and 
Office Storage), 2018

7. Trade Scenario, 2013-2017

7.1. Imports, 2013-2017

Wooden furniture for offices (excluding seats), 2013-2017

Furniture of plastics (excluding medical, dental, surgical or veterinary, and seats), 2013-2017

Wooden furniture (excluding for offices, kitchens and bedrooms, and seats), 2013-2017

Parts of furniture (excluding of seats and medical, surgical, dental or veterinary), 2013-2017

Wooden furniture for kitchens (excluding seats), 2013-2017

Wooden furniture for bedrooms (excluding seats), 2013-2017

Metal furniture for offices (excluding seats), 2013-2017

Furniture of Other Materials, including Cane, Osier or Similar Materials (Excluding Bamboo), 
2013-2017

Metal furniture (excluding for offices, seats & medical, surgical, dental or vetenary), 2013-
2017

Furniture of bamboo / rattan (excluding seats and medical, surgical, dental or veterinary), 
2013-2017

7.2. Exports, 2013-2017

Wooden furniture for offices (excluding seats), 2013-2017

Furniture of plastics (excluding medical, dental, surgical or veterinary, and seats), 2013-2017

Wooden furniture (excluding for offices, kitchens and bedrooms, and seats), 2013-2017

Parts of furniture, (excluding of seats and medical, surgical, dental or veterinary), 2013-2017

Wooden furniture for kitchens (excluding seats), 2013-2017

Wooden furniture for bedrooms (excluding seats), 2013-2017

Metal furniture for offices (excluding seats), 2013-2017

Furniture of other materials, including cane, osier or similar materials (excluding of bamboo), 
2013-2017

Metal furniture (excluding for offices, seats and medical, surgical, dental or Veterinary), 
2013-2017

Furniture of bamboo / rattan (excluding seats and medical, surgical, dental or veterinary), 
2013-2017

7.3. Major Countries (China, Italy, Turkey, US, Spain, Germany and Others), 2013-2017

By Metal furniture (excluding for offices, seats and medical, surgical, dental or veterinary), 
2013-2017

By Wooden furniture for offices (excluding seats), 2013-2017

By Wooden furniture for kitchens (excluding seats), 2013-2017

By Wooden furniture for bedrooms (excluding seats), 2013-2017

By Wooden furniture (excluding for offices, kitchens and bedrooms, and seats), 2013-2017

By Furniture of plastics (excluding medical, dental, surgical or veterinary, and seats), 2013-
2017

By Furniture of bamboo or rattan (excluding seats and medical, surgical, dental or veterinary, 
2013-2017

By Parts of furniture, (excluding of seats and medical, surgical, dental or veterinary), 2013-2017

8. SWOT Analysis

9. Supplier Selection Criteria (Product Quality, Delivery, Cost, Response Time)

10. Decision Making Parameters for Residential, Commercial and Hospitality Furniture

11. Trends and Developments

12. Issues and Challenges

13. Comparative Landscape

13.1. Competition Scenario (Competition Stage, Major Retailers and Competing Parameters)

13.2. Cross Comparison of Major Retailers on the Basis of Store Size, Average Walk-ins per 
Store, Average Conversion Rate, and Average Number of Furniture Products Sold per day per Store

13.3. Heat Map of Major Retailers (Including Strengths and Weaknesses)

13.4. Company Profile of Major Retailers (Company Overview, USP, Business Strategies, Recent 
Developments, Value Added Services and Product Portfolios including Product Line, Product 
Category and SKUs)

13.4.1. IKEA

13.4.2. Home Center

13.4.3. Almutlaq furniture

13.4.4. Al-Rugaib Furniture (Ashley Furniture SA)

13.4.5. AL Jedaie Office Furniture

13.4.6. El Ajou Group

14. Future Outlook and Projections, 2019-2023

14.1. Market Revenue, 2023

14.2 Market Structure (Organized and Unorganized Segment), 2023

14.3. Type of Material Used (Wood, Glass, Metal, Plastic and Others), 2023

14.4. End Users (Residential, Hospitality and Commercial), 2023

14.5. Type of Residential Purpose (Bedroom, Living Room, Dining, Kitchen, and Outdoors), 2023

14.5.1. Type of Bedroom Furniture (Beds, Mattresses, Chests of Drawers and Wardrobe), 2023

Bed Storage (Beds without Storage and Beds with Storage), 2023

Size of Beds (Single Size Bed, Double Size Bed and Queen Size Bed), 2023

Material Used in Beds (Wood and Steel), 2023

14.5.2. Type of Living Room Furniture (Sofa, Coffee Table and Centre Table, Sofa cum Bed and 
Others), 2023

Material Used in Sofa (Fabric and Leather), 2023

Sofa Seating Furniture (3+2 Seating, 3+2+1+1 Seating and Others), 2023

Material Used in Coffee Table and Centre Table (Wood and Steel and Glass), 2023

14.5.3. Type of Dining Furniture, 2023

Material Used in Dining Table (Wood and Others), 2023

Seating Arrangement of Dining Table (< 6 Chairs, 6-8 Chairs, >8 Chairs), 2023

14.5.4. Type of Kitchen Furniture (Modular and Regular), 2023

14.5.5. By Style of Residential Indoor Furniture (Modern/Contemporary and Traditional/Classic), 
2023

14.6. By Type of Office Furniture (Workstation Desk, Office Chair, Conference Table, Corner 
Table and Office Storage), 2023

15. Analyst Recommendations

16. Online Retailing Success Story of Major Indian Furniture Retailers (Company Overview,

Business Model - Managed Marketplace Model, Revenue Streams and Success Factors)

16.1. Pepper Fry

16.2. Urban Ladder

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