increase in number of office spaces is driving the Luxury Furniture Market in Middle East

Latest News:- Luxury Furniture Market in Middle East: Residential is expected to lead the Application segment during 2024-2028

Technavio analyzes that the Luxury Furniture Market in Middle East is expected to grow at a CAGR of 4.48% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 413.02 million.There are various factors that contribute to the growth of the market. The luxury furniture market in the Middle East is experiencing significant growth due to the increasing number of office spaces being constructed in the region. This trend is creating a high demand for premium furniture solutions that cater to the unique requirements of corporate environments. Luxury furniture brands are capitalizing on this opportunity by offering customized designs and innovative materials to meet the specific needs of their clients. The market is expected to continue its upward trajectory as the region's economy continues to flourish.

The luxury furniture market in the Middle East is witnessing substantial growth, with the residential segment leading the charge. This segment encompasses a range of items including lounge chairs, ottomans, sofas, side and coffee tables, dining and kitchen tables, outdoor seating furniture, and various types of chairs and stools. Key players in this sector include MillerKnoll, IKEA, and Minotti. The residential segment's expansion is primarily driven by the increasing demand for versatile, multifunctional luxury furniture, such as foldable beds and extendable sofa sets. The luxury furniture industry in this region is categorized into several sub-segments, which include wood and leather furniture, aesthetic appeal, durability, designer furniture, automation, and digitalization. 

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Luxury Furniture Market in Middle East Segmentation

• Application
  • Residential
  • Commercial
• Distribution Channel
  • Offline
  • Online
• Geography
  • Middle East

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Anna Casa Ltd.
• Auraliving
• B and B Italia SPA
• Boca Do Lobo
• Defure Furniture Trading LLC
• DelightFULL
• Giorgio Armani S.p.A.
• Haworth Inc.
• Inter IKEA Holding BV
• Lazzoni Furniture
• Luma Inc.
• LVMH Moet Hennessy Louis Vuitton SE
• MillerKnoll Inc.
• Minotti S.p.A.
• Natuzzi SpA
• Next Space LLC
• Pan Emirates Home Furnishings
• Poltrona Frau SPA
• Scavolini S.p.a.
• Workspace

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Research Analysis Overview

The Middle East luxury furniture market encompasses a wide range of high-end products including lighting, tables, chairs and sofas, accessories, and more. This market caters to both residential and commercial sectors, with a focus on luxury furniture pieces made from high-quality materials such as metal, glass, and wood. Home renovation and decoration projects for homes, schools, offices, kitchens, outdoor spaces, bathrooms, and hospitality establishments are prime targets. The market serves various segments like RTA and Non-RTA, with offerings ranging from beds to cabinets, and is accessible through home centers, flagship stores, departmental stores, and e-commerce websites, ensuring an aesthetic appeal for all.

Market Research Overview

The luxury furniture market in the Middle East is a significant segment of the global home furnishing industry, encompassing the manufacturing and marketing of lighting, tables, chairs and sofas, accessories, bedroom furniture, cabinets, and more. According to Technavio, this market is a component of the broader global home furnishing industry, which includes companies engaged in the production and sales of furniture, home furnishings, floor coverings, decorative products, household appliances, and other homeware items. The home furnishing market's size is determined by the consolidated revenue generated by these sectors. Factors driving growth in the global home furnishing market include the increasing construction of residential and commercial properties, resulting in heightened demand for new furniture and furnishings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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