Nigeria: Furniture Industry - Analysis, Size, Trends, Consumption, and Forecast

The Nigerian Furniture Industry Report Description

This report presents an overview of the Nigerian furniture industry for the period 2019-2023, the effect of recent high-impact world events on it, and a forecast for the industry development in the medium term (2024-2029). It is a comprehensive industry report, analyzing multiple products within the beer industry, segmented into several main categories.

This research report provides a strategic analysis of the Nigerian furniture industry and describes the industry size, main market participants, growth and demand drivers, challenges, and other factors that influence the development of the industry. This analysis includes information about the market value, import, export, foreign trade, and pricing of the main product groups within the industry.

This report covers furniture - including living room furniture (chairs and sofas and cabinets, TV stands, and side tables), bedroom furniture (beds, mattresses and closets, nightstands, dressers, and wardrobes), kitchen and dining furniture (dining tables, kitchen islands, and pantries), outdoor furniture (plastic and bamboo furniture, patio chairs and tables, and outdoor bars), and home office furniture (office desks and chairs and bookcases and filing cabinets), and is broken down by:

• Product groups: Living room furniture; Bedroom furniture; Kitchen and dining furniture; Outdoor furniture; Home office furniture
• Price segments: Mass; Mid-priced; Premium
• Distribution channels (online vs. offline): Online; Offline
• Retail distribution channels: Furniture retailers; DIY stores; Supermarkets and hypermarkets; Independent retailers

You will receive the industry research report within five working days after order confirmation. Contact us to learn if a shorter delivery time would be possible. After the delivery, you can study the report thoroughly and ask questions within the following three months.

We also offer similar market research reports and special terms for bundle purchases. Within the same industry, we also provide feasibility studies, business plans, due diligence reports, market entry, market development, product launch and product development studies, direct access to millions of potential new consumers, partner search and selection, and more. Contact us for more information.

State of the Global Demographics and Economy

This section of the report presents you with historical and forecast data about key macroeconomic indicators of the global demographics and economy:

• What are the values of key global economic indicators (GDP, inflation, unemployment, government debt, etc.)?
• What are the values of key global demographic indicators (population, growth rate, life expectancy, age and gender, etc.)?

Analysis of the Nigerian Furniture Industry

This section of the report provides an overview of the market size and dynamics of the furniture industry in Nigeria, segmented by the main product groups in value terms for the period 2019-2023. It answers the following questions:

• What are the size and dynamics of the Nigerian furniture industry in value terms?
• How has the Nigerian furniture industry been segmented by product groups in value terms over the past five years?
• How is the industry broken down by segments?
• What are the major trends affecting the industry?
• Which are the major companies on the Nigerian furniture industry and what are their main characteristics?
• How fragmented is the competitive landscape?
• What is the degree of competition, based on Porter's five forces?
• What are the drivers and challenges affecting the industry development?

Nigerian Furniture Prices

The price section of the industry research report answers:

• How is the industry value chain formed?
• What is the structure of price formation?
• What are the average retail prices of furniture in Nigeria and how have they changed over the last five years?
• What are the average retail prices of the main product groups within the industry?

Foreign Trade Operations of Furniture in Nigeria

The foreign trade operations section of the industry report answers:

• How has the trade balance developed over the last five years?
• Does Nigeria import more furniture than it exports within each of the main product groups in the industry?

Imports of Furniture to Nigeria

The import section of the industry research report answers:

• How has the value of furniture imports to Nigeria changed over the past five years?
• How are the Nigerian furniture imports segmented by main product groups?
• Which are the major countries that export furniture to Nigeria?
• What are the average prices of furniture imported to Nigeria and how have they changed over the last five years?

Exports of Furniture from Nigeria

The export section of the industry report answers:

• How has the value of furniture exports from Nigeria changed over the past five years?
• How are the Nigerian furniture exports segmented by main product groups?
• Which are the main recipient countries of the Nigerian exports of furniture?
• What are the average prices of furniture exported from Nigeria and how have they changed over the last five years?

Consumption of Furniture in Nigeria

This section of the report answers:

• What is the per capita consumption of furniture in Nigeria in value terms? How has it changed over the past five years?

Nigerian Furniture Industry Forecast

The final section of the industry report presents a forecast for the industry development in the medium term, based on three scenarios - base, pessimistic, and optimistic. The forecast section answers:

• How will the furniture industry in Nigeria develop over the next six years for each scenario?
• What are the forecasted market dynamics of the main product groups within the industry under the base scenario?

Short Methodology

The industry research report is prepared using WMStrategy's proven research methodology. It includes a blend of qualitative and quantitative data. The information comes from official sources and includes insights from market experts (representatives of the main market participants), gathered through semi-structured interviews.

For this particular industry report, at least 10 interviews have been conducted with market experts from the leading companies (producers, distributors, retailers, suppliers, etc.). A detailed methodology is available upon request.

Customization

The report will be updated as of the current month of purchase and will be dispatched within five working days after order confirmation. It can be amended to fit your specific data needs and preferences to cover your individual goals.

Report Benefits

• Discover how the furniture industry in Nigeria performed in the past (in the last five years) and how it will perform in the future (in the next six years);
• Track and identify key industry trends and insights behind recent industry changes;
• Understand the overall local demand for the main furniture product groups;
• Discover which are the most promising markets and segments;
• Strategically assess the competitive position of the main industry players;
• Evaluate how diversified the industry is in terms of competitive intensity, fragmentation, and environment in order to understand competitive threats;
• Assess growth potential, opportunities, demand drivers, and challenges in the industry;
• Quickly and cost-effectively receive a complete strategic analysis of the industry;
• Improve your pitches and presentations by using verified industry data and expert insights;
• Make important strategic decisions safely and with confidence;
• Receive professional expertise on the industry and its development;
• Empower your marketing, branding, strategy, product and business development with valuable industry insights;
• Build your investment strategy by assessing industry attractiveness or company attractiveness;
• Evaluate the key macroeconomic indicators to get insight into the general trends within the economy and demographics;
• Acquire data your competitors might already have and be acting upon.

Report Users

This industry research report is ideal for people who want to gain a comprehensive understanding of the furniture industry in Nigeria. It is also tailored to help people who need a clear and fact-based analysis of the market size and dynamics, import, export, foreign trade, and pricing of the main product groups within the industry. Most often, these people are professionals actively working in the industry as:

• C-suite executives;
• Directors;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
• Suppliers;
• Traders.

This report can also bring value to professionals, not actively involved in the industry, such as:

• Management consultants;
• Investment managers;
• Financial professionals;
• Bank managers;
• M&A managers;
• Auditors.

Report Data - Unlock Strategic Decisions

The industry research report presents reliable and verified market data. It provides valuable support to make important strategic decisions regarding:

• Strategic planning;
• Marketing and sales;
• Market and industry evaluation;
• Evaluation of market opportunities, risks, and challenges;
• Regional evaluation and opportunity analysis;
• Market entry;
• Market growth;
• Pricing and promotion;
• New product development;
• Distribution;
• Sourcing and supply chain management;
• Company evaluation;
• Mergers and acquisitions.

Please note:*The report will be updated with the latest information upon order confirmation so delivery timeline will 5 business days*