Saudi Arabia is one of the largest furniture markets in the Middle-East, and thus, an attractive destination for global players. According to a research report by RNCOS, many international retailers are planning to enter the prolific Saudi Arabian furniture market, in which the consumption is anticipated to grow at a CAGR of around 12% during 2011-2013. The domestic companies are also looking at opportunities for joining hands with the world’s best furniture makers to bring the finest furnishings to the Kingdom.
Many international players have already collaborated with the Saudi Arabian furniture brand owners to cash in on the growing market. Ghassan A Al Sulaiman Est, the major player in the Kingdom’s furniture retail market, has a tie-up with IKEA, one of the top international firms in the field. The “Saudi Arabia Furniture Market Analysis” says that young population-base, government support, and strong economic growth will continue giving a significant boost to the country’s expanding furniture market. The study also finds that the Kingdom’s central region is considered as a hub for furniture manufacturing, with Riyadh, Qasim, and Hail being the most preferred locations for furniture making in the country.
The report provides a thorough analysis of the Saudi Arabian furniture industry, and evaluates the past, present, and future scenarios of the market. It discusses the current and future trends on interior design contracting and fit-out industry spending that have been included for retail, office, residential, and hotels sectors. These are making Saudi Arabia an attractive destination for furniture retail giants, the research observed. Overall, the study covers the industry forecast and analysis, based on various macro- and micro-economic factors, in order to present the clear picture and balanced outlook of the Kingdom’s furniture market.
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