NIGERIA FURNITURE MARKET

INTRODUCTION

In Nigeria, furniture has an important and varied significance that touches on social, cultural, and economic facets. The nation has a long tradition of craftsmanship, and furniture's function has changed to accommodate contemporary needs while retaining its cultural value.

Economically speaking, Nigeria's furniture business is an important sector that makes a significant contribution to the national economy. It covers a range of phases, such as the procurement of raw materials, production, and retail.

This sector employs a sizable workforce and generates significant money, from skilled artisans to business owners engaged in the manufacture and sale of furniture. The rise of the middle class and urbanization have been major drivers of the furniture market's expansion in Nigeria in recent years.

Furniture in Nigeria frequently reflects the various ethnic and cultural backgrounds of the nation. Different furniture designs use traditional Nigerian patterns and workmanship, connecting modern culture to its rich legacy. Intricate carvings, vibrant colors, and native materials are frequently used in traditional Nigerian furniture, which helps to foster a sense of cultural identity.

In Nigerian houses, furniture is crucial for providing comfortable living spaces from a social perspective. It is not only practical, but it also acts as a way to show off one's sense of fashion and personality. Traditional hardwood designs and modern, space-saving solutions are both available in furniture, allowing Nigerian families to live a variety of lifestyles.

Additionally, to accommodate guests and improve their overall experiences, the hospitality sector in Nigeria depends on stylish and cozy furnishings. This helps to promote the country as a tourist destination.

An increasing trend in eco-friendly and sustainable designs has been observed in Nigeria's furniture business in recent years, indicating widespread concerns about environmental preservation and sustainable practices. This change reflects a greater understanding of ethical consumption and environmental preservation.

NIGERIA FURNITURE MARKET SIZE AND FORECAST

The Nigeria Furniture Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

In response to consumer demand for luxury goods at reasonable prices, the furniture company Lifemate Nigeria Limited has introduced new contemporary home furnishings to the Nigerian market.

 The item, referred to as the "Delong luxury furniture series," is constructed from materials of astounding quality and is adaptable to individual tastes and needs. The new furniture includes everything needed to furnish a living room, bedroom, television stand, massage chair, wardrobe, bed, dining tables, sofas, center table, and chairs.

 The sales agent for Lifemate Nigeria Limited, Maureen Uzodinma, said that DeLong Furniture is a sub-brand of Lifemate Nigeria Limited, with all of the ideas and materials coming directly from Turkey, during the debut of the DeLong Furniture series in Oregun, Lagos.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Furniture are manufactured per annum in Nigeria? Who are the sub-component suppliers in the region?
2. Cost breakup of a Nigeria Furniture and key vendor selection criteria
3. Where is the Furniture manufactured? What is the average margin per unit?
4. Market share of Nigeria Furniture market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Nigeria Furniture in-house
6. key predictions for the next 5 years in Nigeria's Furniture market
7. Average B-2-B Furniture market price in all segments
8. Latest trends in the Furniture market, by every market segment
9. The market size (both volume and value) of the Furniture market in 2023-2030 and every year in between?
10. Production breakup of the Furniture market, by suppliers and their OEM relationship