Living Room Furniture - Thailand

Thailand

In Thailand, the Living Room Furniture market generates a revenue of €0.99bn in 2024.
It is projected to experience an annual growth rate of 6.87% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, amounting to €67,770m in 2024.
In terms of per capita income, each person in Thailand generates 0.00 in revenue in 2024.
Thailand's living room furniture market is thriving with a surge in demand for modern and minimalist designs.

Key regions: China, Germany, Brazil, France, United States

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Analyst Opinion

The Living Room Furniture market in Thailand is experiencing significant growth and development. Customer preferences in Thailand are shifting towards modern and contemporary designs, as well as furniture that is functional and space-saving. This trend is driven by the increasing urbanization and smaller living spaces in cities like Bangkok. Additionally, Thai consumers are becoming more conscious of sustainability and are seeking furniture made from eco-friendly materials. One of the key trends in the market is the growing popularity of multifunctional furniture. With limited space in urban apartments, Thai consumers are looking for furniture that serves multiple purposes, such as sofa beds or coffee tables with built-in storage. This trend is also influenced by the rise of remote working, as people are looking for furniture that can easily be transformed into a home office setup. Another trend in the market is the increasing demand for online shopping. Thai consumers are embracing e-commerce platforms to purchase living room furniture, as it offers convenience and a wide range of options. Online retailers are also providing virtual showrooms and augmented reality tools to help customers visualize how the furniture will look in their homes. This trend is expected to continue growing as more consumers become comfortable with online shopping. Local special circumstances in Thailand also play a role in the development of the Living Room Furniture market. The country's tourism industry is a significant driver of economic growth, attracting millions of tourists each year. This has led to an increase in demand for high-quality and stylish furniture in hotels and resorts. Additionally, the government's push for sustainable development and green initiatives has created opportunities for furniture manufacturers that focus on eco-friendly materials and production processes. Underlying macroeconomic factors also contribute to the growth of the Living Room Furniture market in Thailand. The country's strong economic performance and rising disposable incomes have increased consumer spending power. This has allowed Thai consumers to invest in higher-quality and more expensive furniture for their living rooms. Furthermore, the government's efforts to promote the real estate sector and encourage home ownership have also fueled demand for living room furniture. In conclusion, the Living Room Furniture market in Thailand is experiencing growth and development driven by changing

Customer preferences: such as a preference for modern and multifunctional designs. Online shopping is also becoming increasingly popular, and

Local special circumstances: such as the tourism industry and sustainability initiatives, are shaping the market.

Underlying macroeconomic factors: including strong economic performance and rising disposable incomes, are also driving the growth of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.