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: ETC016807 | 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 | Lebanon Home Furnishings Market |
Forecast period | 2025-2031 |
CAGR | 5.5% |
Growing Sector | Residential |
The Lebanon 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 Lebanon Home Furnishings Market has been experiencing growth in recent years and is projected to grow at a steady rate in the coming years. Factors such as rapid urbanization, increasing construction activities, rising disposable income, and the rise of social media are contributing to the growth of the market.
According to 6Wresearch, the Lebanon Home Furnishings Market size is expected to grow at a significant CAGR of 5.5% during 2025-2031. One of the key drivers of the Lebanon home furnishings market is the rapid urbanization in the country. As more people move from rural areas to cities, there is a growing need for housing and home furnishings. This increased construction activities and hence the demand for furniture and other household items. Moreover, with the rise in disposable income levels among Lebanese households, consumers are becoming more willing to spend on home furnishings. Furthermore, with the rise of social media and access to global trends, Lebanese consumers are now more aware of different styles and designs. This has led to an increase in demand for modern and contemporary home furnishings.
One of the major challenges is the high cost of raw materials and production. Another challenge is the lack of skilled labour in the country's furniture industry. Additionally, the political and economic instability in Lebanon also poses challenges for the home furnishings market.
One of the major players in the Lebanon home furnishings market is IKEA, a Swedish multinational retailer known for its ready-to-assemble furniture, which offers a wide range of modern and affordable products. Another key player in this market is Maison du Monde, a French furniture retailer that specializes in trendy and stylish designs. Other notable players in the Lebanon home furnishings market include Home Centre, a UAE-based retailer that offers a mix of contemporary and traditional furniture, and Pottery Barn, an American home furnishing chain that caters to higher-end consumers.
One of the key initiatives is the establishment of industrial zones for furniture production. The Ministry of Industry has designated specific areas as industrial zones, where furniture manufacturers can set up their factories and benefit from tax exemptions and other incentives. They are providing financial support to exporters, participating in international trade fairs, and promoting Lebanese products abroad. The government has launched programs to provide funding and training opportunities to support the growth of small and medium enterprises (SMEs) in the home furnishings industry. Furthermore, the government has been working towards improving infrastructure and logistics capabilities in the country.
The Lebanon home furnishings market is expected to grow steadily in the coming years due to factors such as a growing population, increasing urbanization, and rising disposable incomes. The demand for sustainable and locally-made products is also driving the growth of the market. In addition, technological advancements in materials and production processes are expected to bring more innovation and efficiency to the industry.
According to Ravi Bhandari, Research Head, 6Wresearch, the home textiles market is witnessing significant growth due to the increasing demand for bedding and bath products, curtains, and other decorative items.
The online retail segment is expected to witness significant growth in the coming years due to the growing popularity of e-commerce and changing consumer preferences towards online shopping.
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 Lebanon Home Furnishings Market Overview |
3.1 Lebanon Country Macro Economic Indicators |
3.2 Lebanon Home Furnishings Market Revenues & Volume, 2021 & 2031F |
3.3 Lebanon Home Furnishings Market - Industry Life Cycle |
3.4 Lebanon Home Furnishings Market - Porter's Five Forces |
3.5 Lebanon Home Furnishings Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Lebanon Home Furnishings Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Lebanon Home Furnishings Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Lebanon Home Furnishings Market Trends |
6 Lebanon Home Furnishings Market, By Types |
6.1 Lebanon Home Furnishings Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Lebanon Home Furnishings Market Revenues & Volume, By Product Type, 2021 - 2031F |
6.1.3 Lebanon Home Furnishings Market Revenues & Volume, By Home furniture market, 2021 - 2031F |
6.1.4 Lebanon Home Furnishings Market Revenues & Volume, By Home textiles market, 2021 - 2031F |
6.1.5 Lebanon Home Furnishings Market Revenues & Volume, By Floor coverings market, 2021 - 2031F |
6.2 Lebanon Home Furnishings Market, By Distribution Channel |
6.2.1 Overview and Analysis |
6.2.2 Lebanon Home Furnishings Market Revenues & Volume, By Offline Retail, 2021 - 2031F |
6.2.3 Lebanon Home Furnishings Market Revenues & Volume, By Online Retail, 2021 - 2031F |
7 Lebanon Home Furnishings Market Import-Export Trade Statistics |
7.1 Lebanon Home Furnishings Market Export to Major Countries |
7.2 Lebanon Home Furnishings Market Imports from Major Countries |
8 Lebanon Home Furnishings Market Key Performance Indicators |
9 Lebanon Home Furnishings Market - Opportunity Assessment |
9.1 Lebanon Home Furnishings Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Lebanon Home Furnishings Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Lebanon Home Furnishings Market - Competitive Landscape |
10.1 Lebanon Home Furnishings Market Revenue Share, By Companies, 2024 |
10.2 Lebanon Home Furnishings Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Product Code: ETC016807 | Publication Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The furniture market in Lebanon is expected to witness a CAGR of 2.8% from 2020-2026, due to the growing trend of interior designing and renovation activities. The growth will be fuelled by increasing disposable incomes among households, urbanization, rising rate of nuclear families and launch of new product categories such as modular kitchen cabinets, dining sets etc., further aiding the market demand for home furnishings. In addition, factors such as booming tourism for leisure & business purposes are resulting in an increase in hospitality projects which would require furnishing solutions leading to a higher demand for residential furniture products like beds & mattresses, sofas & couches etc. Furthermore, supportive government initiatives regarding FDI`s (Foreign Direct Investment) provisions have enabled foreign investors to easily invest their capital into local businesses thus contributing towards economic development. This has led many international players such as IKEA and Ashley Home store to enter the Lebanese market and provide customers with innovative designs across different price points