Market Research Report

Qatar Furniture Market Research Report: Forecast (2023-2028)

By Material Plastic, Wood, Metal, By Product Categories (Indoor Furniture [Bedroom Furniture, Dining Furniture, Home Office Furniture, Kitchen Furniture, Living Room Furniture, Sit...ting Furniture, Storage Furniture], Outdoor Furniture), By End-Users, (Residential Furniture, Office, Hospitality, Healthcare, Retail, Others), By Distribution Channel (Offline, [Specialty Stores, Hypermarkets & Supermarkets, Others], Online Stores), By Company, (Offline Furniture [Tivoli Furniture, Almuftah Group, Al Rugaib Furniture, IKEA, HomeCenter, Marina Home, Danube Home, Almana Maple, Decoration World, Depa Qatar, The One, Home RUs], Online Furniture [Pan-Emirates Home Furnishing]), Read more

  • FMCG
  • Aug 2023
  • 123
  • CG10232

Market Insights & Analysis: Qatar Furniture Market (2023-28)

The Qatar Furniture market is projected to grow at a CAGR of around 5.63% during the forecast period, i.e., 2023-28. The market encompasses a wide range of products, including indoor & outdoor furniture. It provides comfort at home while allowing us to express our style. It is an object made up of wood, metal, and cane used for decorative, storage purposes, and comfortable living. The growing development in various sectors, such as residential, commercial, government, etc., has been positively prevailing the demand for home furnishing products like bedroom furniture, dining furniture, living room furniture, etc.

Additionally, the rising tourism in Qatar is resulting in the construction of premium hotels, mega malls, and other retail stores. Parallel to this, the hosting of mega sports events since 2019, such as the IAAF World Championships, the 2019 FIFA Club World Cup, the 2019 Gulf Cup, FIFA World Cup Qatar 2022, etc., have also led to the construction of new hotels, labor camps, etc.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 5.63%
Key Companies Profiled

Offline Furniture [Tivoli Furniture, Almuftah Group, Al Rugaib Furniture, IKEA, HomeCenter, Marina Home, Danube Home, Almana Maple, Decoration World, Depa Qatar, The One, Home RUs]

Online Furniture [Pan-Emirates Home Furnishing]

Unit Denominations USD Million

 

This, in turn, facilitated the demand for home stuffs like mattresses, wardrobes, sitting furniture, etc. Moreover, in the forecast years, the market is estimated to witness significant growth in line with the strategic plan of the government to uplift tourism in the country like National Vision 2030, in which the government targeted to captivate around six million tourists by 2030. Due to this, several announcements & collaborations have been done by the project developers for the construction of new hotels, mixed-use buildings, etc. For instance:

  • In 2022, IHG signed an agreement with Al Sraiya Hotels & Hospitality Group to open & construct a 200-room Hotel Indigo Doha Lusail, which is anticipated to be completed by 2023.
  • In 2021, Hayri Atak Architectural Design Studio revealed the design of an Eco-Luxury five-star hotel for Qatar, and it is expected to be completed by 2025. The designed hotel would constitute 152 rooms, an infinity pool, rooftop bars, a spa, saunas, gymnasiums, a beach, a mini-golf club, etc.                      

Furthermore, the growing influx of expatriates as well as the increasing national population in Qatar, have been shooting up the construction of high-rise residential apartments, housing units, etc. The number of expatriates is rising in Qatar due to numerous job opportunities & lucrative salaries with low tax rates policies. For instance, according to HSBC’s Group Expat Explorer Survey 2021, Qatar was one of the top ten countries for the expatriate to live & work.

Apart from this, the rising preferences of the elite society to shift towards luxurious residential societies, to meet their housing requirements is also magnifying the construction & sales of high-end villas, bungalows, and others. Hence, supporting the sales of home furnishing items, therefore, the numerous construction activities in the residential sector are presumed to upscale the requirement for home furnishing products in the forecast years.

Qatar Furniture Market Driver:

Rising Tourism Offerings in Various Segments - Qatar has always been known for its diversified tourism offerings, such as cruise tourism, sports tourism, business events, etc. Due to this, various commercial buildings have been developed, further amplifying the sales of home furnishing items over the historical years. In Qatar, cruise tourism is popular among inbound visitors due to the presence of tourist landmarks nearby Doha port, like Souq Waqif, the Museum of Islamic Art, the Doha Corniche, and the National Museum of Qatar, etc. In line with this, the government of Qatar targeted to attract around 500,000 cruise tourists by 2026. This results in rising construction activities of commercial buildings as well as their retro fittings, thereby supporting market growth.


Qatar Furniture Market Research Report: Forecast (2023-2028)

With this variety of tourism offerings by the government, the country has also been focusing on developing as a destination wedding hub for tourists. Owing to this, a redevelopment & new construction of magnificent ballrooms & vistas catalyzed the demand for home furnishing items such as lighting fixtures, window coverings, and indoor furniture in the following years.                    

Qatar Furniture Market Possible Restraint:

Weighty Sales of Used Furniture in Qatar to Restrict the Market - The inclination of low-income customers in Qatar has been mostly to purchase used or second-hand furniture such as beds, sofa sets, dressing tables, etc. This is due to the high cost of new home furnishing products, which, in turn, creates hesitation among customers with low-income levels. Additionally, the presence of used furniture markets with economical price offerings in Qatar, such as Najma, Al Wukair, etc., have been providing plentiful options for low-income customers or blue-collar expatriates of the country. Hence, this is expected to limit the sales of new home furnishing items in the forthcoming period.        

Qatar Furniture Market Key Trend:

Growing Prominence of Online Sales - The growth in online retail stores in various sectors, such as apparel, home appliances, etc., has had a positive impact on the sales. Many brands, like The One Qatar, Home Centre, etc., have now started their operations online as well, with easy return & replacement policies. Apart from it, numerous online websites have hi-tech virtual reality (VR) & artificial intelligence (AI) embedded in them, allowing customers to have a real-life experience of buying furniture from the stores. Further, online platforms also provide the 3D feature to check if a particular type would suit their house decor or not. Thereby increasing online sales & positively impacting the market in the coming years. For instance, IKEA Qatar offers a full range of furniture services online right from selection to professional consultation, delivery, and assembly.  

Qatar Furniture Market Growth Opportunity:

Upcoming Residential Projects to Augment the Growth - Qatar is witnessing an influx of expatriates who are coming in search of better economic opportunities. The heavy influx has resulted in an increased demand for housing & residential units. Considering it, the government in the country is focusing on the construction of well-planned smart cities, which are predicted to house a large population. These smart cities would add more housing & residential units in the country, which, in turn, would create an increased demand for articles such as beds, sofas, shelves, etc., to make the housing habitable & look decorative. Hence, the construction of new housing units is expected to boost the sales of articles, therefore creating a conducive environment for the growth of the Qatar Furniture market in the coming years.

Qatar Furniture Market (2023-28): Segmentation Analysis

The Qatar Furniture Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Material:

  • Plastic
  • Wood
  • Metal

The furniture articles that are made of Wood have been dominating the market over the past years. Wooden furniture, such as sofas, chairs, etc., have been predominantly in demand, as carving on softwood gives an artistic & elegant look, thereby attracting wide range of customers across Qatar. However, plastic-made articles such as chairs, benches, tables, etc., have also come up in the market. These plastic-based articles come in different varieties, colors, and shapes, due to which end-users find these articles to be more attractive.

Apart from it, for outdoor, plastic material is more durable in comparison to wood & metal, which is why there is a growing prominence of plastic-based furniture articles for outdoor sittings in cafes, restaurants, lounges, etc. In the coming years as well, the demand for these articles is expected to grow because they are more convenient to use & have a longer product life compared to wood & metal articles. Thus, creating a conducive environment for the growth of the market in the coming years.

Based on Distribution Channel:

  • Offline Stores
    • Specialty Stores
    • Hypermarkets & Supermarkets
    • Others
  • Online Stores

Offline Furniture Stores have had a dominant share in the Qatar Furniture market during the historical years as customers find it very convenient to go to a store & physically look for their choice of furniture. Further, a huge variety ranges are available in one place, which enables customers to choose from a diverse variety. However, in recent years, online platforms have also emerged as a major distribution platform as it allows customers to easily compare products through VR & AR. Apart from it, these platforms allow customers to easily compare products from different websites. This makes online stores emerge as major distribution channels for sales in Qatar. Thereby creating a positive market outlook for the growth of the Qatar Furniture market in the coming years.

Qatar Furniture Industry Recent Developments 

  • 2022: Home Box launched its first store in Qatar, situated in the mall of Qatar, Doha. In Eastern Countries, Qatar is the 4th country where the company has opened its store due to the growing demand. For upcoming years as well Home Box has plans for further expansion in the country. 
  • 2022: Milano by Danube Home opened its store in Qatar to provide affordable luxury fittings & furniture range.

Gain a Competitive Edge with Our Qatar Furniture Market Report

  1. Qatar Furniture Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
  2. This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
  3. Qatar Furniture Market report aids in assessing and mitigating risks associated with entering or operating in the market.
  4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

   A. The Qatar Furniture market is projected to grow at a CAGR of around 5.63% during 2023-28.

   A. The offline furniture store is the leading segment for the growth of Qatar Furniture during 2023-2028.

   A. The rising tourism offerings in various segments is the prominent factor that is expected to drive the Qatar Furniture market in the coming years.

   A. Tivoli Furniture, Almuftah Group, Al Rugaib Furniture, IKEA, Home Center, Marina Home, Danube Home, Almana Maple, Decoration World, Depa Qatar, The One, Home RUs are some of the top players in the Qatar Furniture market.

   A. The growing prominence of online sales is the key trend shaping the growth of the Qatar Furniture Market.

   A. The upcoming residential projects is the growth opportunity driving the Qatar Furniture Market through 2028.

Qatar Furniture Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Import & Export Statistics: Qatar Furniture Market 2023-2028F
  5. Qatar Furniture Market Government Regulations and Policies
  6. Qatar Furniture Market Supply Chain Analysis
  7. Qatar Furniture Market Trends & Insights
  8. Qatar Furniture Market Dynamics
    1. Growth Drivers
    2. Challenges
  9. Qatar Furniture Market Hotspot & Opportunities
  10. Qatar Furniture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Material
        1. Plastic
        2. Wood
        3. Metal
      2. By Product Categories
        1. Indoor Furniture
          1. Bedroom Furniture
            1. Beds
            2. Chest of Drawers
            3. Wardrobe
          2. Dining Furniture
          3. Home Office Furniture
          4. Kitchen Furniture
          5. Living Room Furniture
          6. Sitting Furniture
            1. Sofa Beds
            2. Other Sofas
          7. Storage Furniture
        2. Outdoor Furniture
      3. By End-Users
        1. Residential Furniture
        2. Office
        3. Hospitality
        4. Healthcare
        5. Retail
        6. Others (Education, Rental Companies, etc.)
      4. By Distribution Channel
        1. Offline
          1. Specialty Stores
          2. Hypermarkets & Supermarkets
          3. Others
        2. Online Stores
      5. By Competitors
        1. Market Share & Analysis
        2. Competitive Characteristics
  11. Qatar Furniture Market Key Strategic Imperatives for Success & Growth
  12. Competition Outlook
    1. Competition Matrix
      1. Target Markets
      2. Research & Development
      3. Collaborations & Strategic Alliances
      4. Key Business Expansion Initiatives
      5. Business Restructuring- Mergers, Acquisitions, JVs
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Offline Furniture
        1. Tivoli Furniture
        2. Almuftah Group
        3. Al Rugaib Furniture
        4. IKEA
        5. HomeCenter
        6. Marina Home
        7. Danube Home
        8. Almana Maple
        9. Decoration World
        10. Depa Qatar
        11. The One
        12. Home RUs
      2. Online Furniture
        1. Pan-Emirates Home Furnishing
  13. Disclaimer


Qatar Furniture Market Segmentation