PROSPECTS AND OPPORTUNITIES
Modest growth expected, as consumers curb expenditure on non-essential items
The home furnishings market in Malaysia is projected to experience modest growth in constant value terms (at 2024 prices) over the forecast period, driven by a combination of economic factors, market saturation, and evolving consumer preferences. Despite steady economic growth, consumer spending on non-essential items like home furnishings remains cautious, with households prioritising essentials and exercising restraint when it comes to discretionary purchases.
Smart and multifunctional furniture will see rising demand, underpinned by increasingly urbanised lifestyles
Malaysia’s home furnishings market is poised for significant transformation, driven by evolving consumer preferences and rapid technological advancements. One key trend is the rising demand for smart, multifunctional furniture tailored to urban lifestyles.
Digital platforms set to transform shopping experience
Another major trend which is set to reshape Malaysia’s home furnishings market is the rapid growth of online interior design platforms. As internet access and smartphone usage increase, more consumers are turning to e-commerce to fulfil their home furnishing needs.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Furnishings industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Furnishings industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Furnishings in Malaysia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Furnishings in Malaysia?
- Which are the leading brands in Home Furnishings in Malaysia?
- How are products distributed in Home Furnishings in Malaysia?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Home Furnishings?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home Furnishings?
- Where is future growth expected to be most dynamic?
Home Furnishings in Malaysia - Category analysis
KEY DATA FINDINGS
Indoor living leads growth in home furnishings in 2024
Ikea faces competitive pressure as affordability and innovation drive shifts in share
Direct selling and e-commerce fuel expansion
Modest growth expected, as consumers curb expenditure on non-essential items
Smart and multifunctional furniture will see rising demand, underpinned by increasingly urbanised lifestyles
Digital platforms set to transform shopping experience
Home and Garden in Malaysia - Industry Overview
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
The following categories and subcategories are included:
Home Furnishings
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- Bath Textiles
- Bed Textiles
- Kitchen and Dining Textiles
- Living Room Textiles
- Rugs
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- Beds
- Chests of Drawers
- Mattresses
- Wardrobes
- Dining Furniture
- Home Office Furniture
- Kitchen Furniture
- Living Room Furniture
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- Sofa Beds
- Other Sofas
- Other Sitting Furniture
- Storage Furniture
- Other Indoor Furniture
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- Blinds
- Curtains
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- Charcoal Barbecues
- Electric Barbecues
- Gas Barbecues
- Outdoor Furniture
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- Lighting Fixtures
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- Incandescent Lamps
- Halogen Lamps
- Linear Fluorescent Lamps (LFL)
- Compact Fluorescent Lamps (CFL)
- Light-Emitting Diode Lamps (LED)
Home Furnishings
The furniture and other moveable articles in a home that are necessary or useful for comfort and convenience. Items must be new when sold to the consumer; second-hand/used home furnishings are excluded. Antiques are also excluded. Home furnishings refers to indoor living (home textiles, indoor furniture and window coverings), outdoor living (BBQ's, garden sheds and outdoor furniture) and lighting (lighting sources and light fixtures).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Furnishings research and analysis database.
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