Saudi Arabia $9.48 Bn Furniture Market Trends, Regional Insights, Competition, Forecast & Opportunities, 2020-2024 & 2025-2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Furniture Market by Region, Competition, Forecast & Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.

The Saudi Arabia Furniture Market was valued at USD 7.23 Billion in 2024 and is projected to reach USD 9.48 Billion by 2030, rising at a CAGR of 4.62%.

The market's steady expansion is being driven by rapid urbanization, a youthful and growing population, and increasing demand for contemporary housing and interior design solutions. Major infrastructure projects such as NEOM and the Red Sea Project, under the Vision 2030 initiative, are significantly bolstering the real estate sector, thereby stimulating furniture demand.

Rising disposable income and a noticeable consumer shift toward premium, multifunctional, and customizable furniture further support market growth. Additionally, Western lifestyle influences, the rise of e-commerce platforms, and greater attention to home aesthetics are shaping evolving consumer preferences. Demand from the hospitality industry, spurred by tourism growth, is also creating robust opportunities for commercial furniture suppliers and international market entrants.

Key Market Drivers

Increasing Homeownership Across the Region

Growing homeownership is a pivotal factor fueling Saudi Arabia's furniture market. As part of the Vision 2030 agenda, the country aims to raise homeownership to 70%, and by 2023, the rate had already reached 63.7%. This increase has led to heightened furniture demand as more families and individuals invest in new homes.

First-time buyers and young couples, especially those benefiting from government housing programs, are actively furnishing their residences, often shortly after moving in. The cultural value placed on well-furnished homes and modern interiors also plays a role, as does the growing formation of nuclear households. This surge in new homeowners is creating sustained demand across a range of furniture categories and contributing to the sector's long-term expansion.

Key Market Challenges

Fluctuating Prices of Raw Material

Volatile raw material prices remain a significant hurdle for the Saudi furniture market. Key materials such as wood, textiles, metals, and foam are susceptible to global supply chain disruptions, currency fluctuations, and geopolitical developments, all of which can drive unpredictable cost spikes. These fluctuations raise production costs and complicate budgeting for manufacturers and retailers.

Smaller businesses are particularly vulnerable, as they often struggle to absorb these costs without affecting pricing or profitability. Additionally, the industry's dependence on imported materials adds another layer of exposure to international trade dynamics and shipping delays. The resulting pricing instability disrupts inventory and pricing strategies, hindering competitiveness. While some firms are exploring alternative materials and local sourcing, managing input cost volatility continues to be a pressing concern.

Key Market Trends

Increasing Demand for Eco-Friendly Materials

The demand for eco-friendly furniture is gaining momentum in Saudi Arabia, driven by growing environmental awareness and a shift toward sustainable living. Consumers are increasingly prioritizing furniture made from natural, recyclable, and biodegradable materials. Products featuring reclaimed wood, organic fabrics, and low-impact finishes are gaining popularity, as buyers seek both style and environmental responsibility.

This trend aligns with global sustainability efforts and is influencing product development, branding, and marketing within the furniture industry. Brands that adopt sustainable practices and highlight their use of green materials are gaining favor among consumers. As this preference for eco-conscious choices continues to grow, it is expected to foster innovation and further transformation in the Saudi furniture sector.

Key Attributes:

Report Attribute	Details
No. of Pages	82
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$7.23 Billion
Forecasted Market Value (USD) by 2030	$9.48 Billion
Compound Annual Growth Rate	4.6%
Regions Covered	Saudi Arabia

Report Scope:

Key Players Profiled in this Saudi Arabia Furniture Market Report

• Arabian Furniture & Design Co
• Almutlaq Furniture
• Inter IKEA Systems B.V.
• Bold Bespoke Design
• Al Jedaie Office Furniture
• Al Wasad Furniture
• Saudi Modern Factory
• Jeraisy Furniture Factory
• Zivella Office Furniture
• Aflak Furniture

Saudi Arabia Furniture Market, by Type:

• Home Furniture
• Office Furniture
• Hospitality & Institutional Furniture

Saudi Arabia Furniture Market, by Raw Material:

• Wooden
• Metallic
• Plastic
• Others

Saudi Arabia Furniture Market, by Point of Sale:

• Online
• Offline

Saudi Arabia Furniture Market, by Region:

• Eastern
• Western
• Northern & Central
• Southern

For more information about this report visit https://www.researchandmarkets.com/r/b64do2

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