Market Forecast By Product Type (Home furniture market, Home textiles market, Floor coverings market), By Distribution Channel (Offline Retail, Online Retail) And Competitive Landscape
Product Code: ETC016804 | Publication Date: Sep 2024 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Bahrain Home Furnishings Market |
Forecast period | 2025-2031 |
CAGR | 5.5% |
Growing Sector | Residential |
The Bahrain Home Furnishings Market report thoroughly covers the market by Product Type and Distribution Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Bahrain Home Furnishings Market has been experiencing growth in the years driven by various factors such as the rising disposable income of people, urbanization, changing lifestyles and global trends, and government initiatives. The market is expected to grow steadily in the coming years.
According to 6Wresearch, the Bahrain Home Furnishings Market size is expected to grow at a significant CAGR of 5.5% during 2025-2031. The increasing disposable income of individuals in Bahrain has led to a rise in demand for quality home furnishings due to higher purchasing power. The rapid pace of urbanization in Bahrain has resulted in a significant rise in demand for housing and infrastructure. As people move into new homes or renovate existing ones, there is a growing need for furniture and other home decor items, driving the growth of the market. With changing lifestyles and exposure to global trends, there has been a shift towards modern and contemporary interior styles among Bahrainis, further driving the market growth. Moreover, the government of Bahrain has been actively promoting the development of the country's real estate sector which has a positive impact on the market.
The cost of raw materials used in the production of home furnishings, such as wood and fabric vary greatly depending on global market trends, making it a challenge for manufacturers to maintain constant profit. Moreover, the lack of skilled labour also poses a challenge for businesses looking to expand their operations or maintain high-quality standards.
The home furnishings market in Bahrain is highly competitive with numerous local and international players operating in the country. IKEA, the Swedish furniture giant opened its first store in Bahrain in 2018 and has since gained a strong foothold in the market. Home Centre, a UAE-based home furnishings retailer has several stores across Bahrain and offers a wide range of products at affordable prices. Al Huzaifa Furniture is a popular local brand that has been operating for over 60 years, offering high-end customized furniture to its customers
One initiative is the establishment of dedicated zones for home furnishing and interior decoration businesses. These zones offer a range of benefits such as lower land rents, tax exemptions, and streamlined processes for obtaining licenses and permits. The government has also launched programs aimed at promoting entrepreneurship in the home furnishings industry. This includes providing training and mentoring opportunities for young entrepreneurs, as well as financial support through grants and loans. Additionally, the government has been participating in international trade fairs and exhibitions focused on home furnishings to attract foreign investments.
The Bahrain home furnishings market is expected to grow steadily in the coming years due to several factors such as the increasing demand for modern and stylish home décor, rising disposable income, and a growing tourism industry. The market is also likely to witness advancements in technology, leading to more efficient production processes and a wider range of products. Additionally, with the rise of e-commerce platforms and digitalization, consumers now have easier access to a diverse range of home furnishings from both local and international brands.
According to Ravi Bhandari, Research Head, 6Wresearch, the home furniture market dominates the Bahrain Home Furnishings Market. This can be attributed to the growing demand for stylish and comfortable furniture among consumers.
In terms of distribution channels, the online retail segment is growing in the market due to rise of e-commerce and internet penetration as they offer convenience, wider product availability, and competitive pricing.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Bahrain Home Furnishings Market Overview |
3.1 Bahrain Country Macro Economic Indicators |
3.2 Bahrain Home Furnishings Market Revenues & Volume, 2021 & 2031F |
3.3 Bahrain Home Furnishings Market - Industry Life Cycle |
3.4 Bahrain Home Furnishings Market - Porter's Five Forces |
3.5 Bahrain Home Furnishings Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Bahrain Home Furnishings Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Bahrain Home Furnishings Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Bahrain Home Furnishings Market Trends |
6 Bahrain Home Furnishings Market, By Types |
6.1 Bahrain Home Furnishings Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Bahrain Home Furnishings Market Revenues & Volume, By Product Type, 2021-2031F |
6.1.3 Bahrain Home Furnishings Market Revenues & Volume, By Home furniture market, 2021-2031F |
6.1.4 Bahrain Home Furnishings Market Revenues & Volume, By Home textiles market, 2021-2031F |
6.1.5 Bahrain Home Furnishings Market Revenues & Volume, By Floor coverings market, 2021-2031F |
6.2 Bahrain Home Furnishings Market, By Distribution Channel |
6.2.1 Overview and Analysis |
6.2.2 Bahrain Home Furnishings Market Revenues & Volume, By Offline Retail, 2021-2031F |
6.2.3 Bahrain Home Furnishings Market Revenues & Volume, By Online Retail, 2021-2031F |
7 Bahrain Home Furnishings Market Import-Export Trade Statistics |
7.1 Bahrain Home Furnishings Market Export to Major Countries |
7.2 Bahrain Home Furnishings Market Imports from Major Countries |
8 Bahrain Home Furnishings Market Key Performance Indicators |
9 Bahrain Home Furnishings Market - Opportunity Assessment |
9.1 Bahrain Home Furnishings Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Bahrain Home Furnishings Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Bahrain Home Furnishings Market - Competitive Landscape |
10.1 Bahrain Home Furnishings Market Revenue Share, By Companies, 2024 |
10.2 Bahrain Home Furnishings Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Product Code: ETC016804 | Publication Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The Bahrain home furnishings market is estimated to grow at a CAGR of 5.2% during the forecast period 2020-2026. The rising trend in improving the outlook and design of homes, coupled with growing demand for modern furnishing products among end-users are some of the major factors driving growth in this market. Additionally, increasing disposable income levels, rapid urbanization, improved lifestyle and enhancement in living standard are also fuelling market growth. Moreover, changing consumer preference for branded furniture is resulting into increased sales of premium quality furniture items such as sofas & couches and chairs & recliners among others which further propelling the growth of this market. However, availability of local low cost substitutes may restrain the overall industry expansion over next few years
Further government initiatives such as providing incentives or tax exemptions on import/export activities along with encouraging foreign investments by establishing free trade zones will open up new opportunities to attract manufacturers from international markets which eventually will positively influence the regional market development over forecast period 2020-2026