Riyadh, Saudi Arabia, (AETOSWire): Created by the Portuguese Association of Wood and Furniture Industries (AIMMP), Associative Design – The Best of Portugal, promotes Portuguese products globally.
The regular presence of the brand Associative Design – The Best of Portugal since 2016 in renowned events in the Middle East, such as Dubai Design Week, Downtown Design Dubai, Idf Omãn and The Hotel Show – Dubai, allow us the expansion of the brand under the promotion ‘MADE IN PORTUGAL, naturally’, in the surrounding markets in order to take advantage of the investment initiated in the region in 2016.
Bringing Portuguese flair and creativity to the Middle East, the Associative Design will present a small representation of a Traditional Arabic house and a sample of a Restaurant and bar with products 100% designed and produced in Portugal.
In this show, the visitors witnessed a mix of innovation, sustainability and contemporary design, apply to the furniture, porcelain, textiles and also a few other design pieces, some of them focused especially for the hospitality market and others to hotels and private houses, dedicated to Interior designers, decorators, architects, etc.
Saudi Arabia Furniture Market Outlook Overview
Saudi Arabia’s furniture market is one of the most vibrant markets in the GCC region. Rising infrastructure, increasing demand for residential property along with government initiatives develop socio-economic infrastructure is driving the whole Kingdom of Saudi Arabia. The rising interest of foreign competitors towards the kingdom to expand their business opportunities and develop their product portfolio by doubling their revenue in driving the furniture market in the Kingdom of Saudi Arabia and different Emirates too. It is anticipated that demand for furniture will grow at CAGR of 8.7% during the forecasted period. The furniture industry of the Saudi Arabia has reached its maturity by adversely got a hit due to declining oil prices and recession in the economy. Higher disposable income in the hands of people leads to changing lifestyles which may in turn lead to the demand for furniture in the country. Revenue from Furniture segment is forecasted to be USD 98.00 million in 2020. The market volume is about to reach USD 112 million by 2024.
Contract Furniture in Saudi Arabia- The contract furniture market in Saudi Arabia is estimated to be USD 744 million for the year 2019. Local government initiatives and foreign investments are the main key drivers driving the furniture market in Saudi Arabia. The manufacturer of wooden furniture claims the maximum share but the presence of steel and metal made furniture are also increasing simultaneously. The contract furniture demand in the country is analyzed and differentiated by major sectors: hotels, restaurants, airports, banks, education and public offices etc.
Rising demand for Luxury Furniture: Revenue derived from tourism increased from SAR 58.00 billion in 2004 up to SAR 194.00 billion in 2017 indicating significant increase in tourism and hospitality segment. In 2018, the capital city had an expected demand for 9000 rooms along with an occupancy rate of 65.00%. The demand grew by 25.00% from 7200 rooms demanded in 2017.Upcoming hospitality projects such as the Red Sea Development project attracts a number of foreign players including the hotels. Demand for luxury furniture is in great demand. Saudi Arabia hospitality providers will indulge in high quality and premium furniture which will cast a statement for their visitors.
Saudi Arabia Furniture Market Dynamics
Saudi Arabia Furniture Market: Growth Drivers
- increased investment by the Government which has dominated the economic activity in the country drives demand for the commercial and private sector to encourage the furniture companies to increase their expansion of the private sector.
- The growing hospitality industry which is traditionally strong in the country in and around the cities of Mecca and Medina with an annual mixture of pilgrims. The country tries to meet the demand by providing proper facilities. In the later years, Construction has become a big sector in the Saudi Arabian market. This is the growing driver behind the furniture industry.
- Vision 2030 is acting as a catalyst in fueling the social economic revolution in the Kingdom of Saudi Arabia, promoting the private sector, the tools and managing businesses and consumers effectively. It is a sustainable growth path for maintaining the growth in the economy.
- Change in the Furniture Purchasing Power Preference of People: Increase in nuclear families and rising internal migration of Saudi Arabia due to job requirements will require easily assembling and multi-purpose furniture. 76.00% of the homes in Riyadh are considered nuclear as compared to 67.00%of nuclear households in 1997. Retailers who can provide furniture such as sofa cum bed, retractable dining tables, convertible desks and chairs are demanded by the people of Saudi Arabia.
Saudi Arabia Furniture Market: Market Trends
- There is huge demand for furniture (indoor, outdoor, and office furniture) which should be of finest quality. The trend is to develop and deliver the finest furniture across the region.
- Changing preferences of people moving from bulky furniture to light weight furniture drives opportunities for the players to expand their business in the region.
Saudi Arabia Furniture Market: Market Opportunities
Changing preferences of the people, drifting from huge bulky furniture to convertible and light weight may lead the player’s entry in the region. The players may get an opportunity to double their business and revenue, thereby generating employment in the country. They can also expand their product portfolio by seeing to the preference of the consumers in the country. This can lead to a stiff competition among the players.
Saudi Arabia Furniture Market: Market Challenges
The consumer demand for furniture keeps changing because of the young demographic population coupled with high smartphone penetration. The players may face stiff competition from the local vendors.
Saudi Arabia Furniture Market Segmentation Analysis
By Material Type, Wood is one of the most desired materials used in Saudi Arabian furniture. It is considered to be cheap, durable and widely available. There is a strong demand for wood in the construction sector as well as in households and offices furniture which is driving the demand for wood and wood products, crossing USD 2.90 billion in 2017.By Product Type, there is huge demand for sofas, convertible dining tables; desks which are portable are demanded by the people of Saudi Arabia. By end Users Type, growing investments in residential and commercial construction in emerging economies such as Saudi Arabia have further propelled the demand for wood market. Rapid urbanization fueled by an increase in green buildings is a major factor enhancing the demand. The commercial sector dominates the market in Saudi Arabia.
Latest News in Furniture Market
The Saudi Arabian e-commerce furniture is anticipated to surpass USD 26.00 billion by the end of 2026.The market is mainly driven by increasing mobile penetration, advances in technology such as big data and artificial intelligence. Convenience is the main driver of the general development of the online shopping industry in the hot weather of Saudi Arabia. Using search engines and applications, it is simpler to navigate through different product classifications. Consumers find it difficult during their hectic timetable to visit retail shops. E-commerce shopping enables customers to shop for 24 hours sitting in-home or at the office. Besides, door-step delivery of the product is produced to remove transportation problems. Payment methods are dominated by E-Wallet and cards in Saudi Arabia.
Designers and brands at Associative Design
AROUNDtheTREE is an Award-Winning European Original Brand of Signature Design Furniture, a responsible brand that aims to create unique furniture pieces, exclusive and timeless pieces through the harmony of innovative designers and the tradition of craftsmanship. Is also an inclusive brand that embraces environmental issues, seeking responsible partners and suppliers and Blue Tale is a high end furniture production factory focused on creating distinctive furniture and decorative details for both residential and commercial projects. Blue Tale seeks to merge the irreplaceable traditional craftsmanship and innovative technology, to satisfy several kinds of projects, regardless their dimension.
Casa Selvagem Home Collection is a brand founded in 2003 in Portugal, that creates and produces unique collections, made in Portugal, in the area of textile decoration, aggregated with other interior products, which permits to combine ambients full of glamour and class in contrast with Cobermaster that is a brand committed to work on Innovation, sustainability, design and character… that is the main inspiration for the creation of each of their pieces. They produce timeless pieces, with a simultaneous industrial and chic touch, with detailed and precise finishes, resulting in a perfect symbiosis between cutting-edge technology and artisanal craftsmanship.
Corque Design promotes a new global brand concept – “Designing Living Objects” – design of high quality, exclusive and differentiated, made from cork with unique sensorial properties and exceptional environmental characteristics, for an audience that prizes creativity, functionality and sustainability conscious design on the other hand, Duquesa & Malvada, a design brand inspired by the peculiar tastes of an urban and demanding generation with a strong personality. They create design pieces reflecting an urban and intense lifestyle in perfect harmony with cosmopolitan elements, trends, luxury, with a special focus on personal style and identity.
Emmel-Furniture is a design brand concentrated on achieving customers dreams using different patterns and styles mixing things up to give to final consumer experiences of worldwide sensation in each home. FEIT is a design brand based in Lisbon, Portugal since 2019,that is driven by their love for natural materials. As a response to their fascination with structures and minimal forms, they aim to create innovative and multifunctional products in a simple contemporary design, combining traditional craft techniques and industrial production, each of their pieces is finished by hand in close collaboration with skilled craftspeople and leading producers in same level MADOUK Design Furniture It’s a brand with a young and creative mind, inspired by the richness of Portuguese history with more than 30 years of knowledge and a factory with more than forty high quality wood workers, supported by high quality machinery and capacity to respond to any request, small or large scale, tailored to the needs of each client.
Magna Natura specializes in furniture, wall coverings and decoration. Their pieces are distinguishable by particularly irreverence and the unprecedented use of cork.
The secrets in the mastery of their craftsmanship bring out the singularity and unique identity in every piece of corkwood, revealing its nobility and allowing us to achieve timeless artifacts filled with emotion with a different approach, Malabar designs and crafts exclusive artisanal furniture with a distinct artistic aesthetic. Combining wood, our designers’ vision and our artisan’s know-how results in refined, classic and yet contemporary furniture. All of our pieces are produced with noble, premium and durable materials such as wood, brass, gold and silver leafs, among others, by talented craftsmen and artists.
With Mamoa the focus is on the intentions of developing solutions through exclusive services to each project, with high-quality results that are adapted to the clients needs.
Their products can be customized regarding materials, fabrics, finishing or measures, in order to integrate and complement each environment with high-quality results that aim to be adapted perfectly to every client’s needs similar as Memoir Essence Interiors tell a story from a life inspired in the feminine essence. A life inspired in every detail lived through a feminine world, this world brings the most exquisite imaginary. Having jewelry, fashion, archi- tecture, music, art and materials as inspirations, capable of making these me-moires to be “written” into an exquisite furniture, upholstery, lighting and accessories collection.
Fialho Furniture was founded in 1980, began by devoting to carving and sculpture, later the result of the experience and needs of the market evolved into the construction of style furniture and restoration in various types of wood and stone, Nauu Design was born in 2013 out of an experience of more than two decades related to Interior Design in Portugal. It is a brand that conceptualizes; designs and produces luxury & exclusive furniture and Woodmade is a solid wood furniture brand, with production processes that focus on the traditional Portuguese craftsman tradition.