For any country or nation, the look of the interiors depends a lot on its geographical location, climate, tastes, and traditions. In Bangladesh, there has been a radical change in the way people spend in the last few decades.
One of the main materials of interior decoration is furniture. Moderate economy, disposable income, and rapid urbanization are contributing to the continued expansion of the Bangladeshi furniture market. On the other hand, as the market is becoming strong due to the production of of new furniture by local companies, people of different incomes can now buy their desired furniture.
In today’s write-up, we have brought you an excellent infographic to inform you about the country’s furniture market on behalf of the Largest Marketplace in Bangladesh – Bikroy.
Let’s discover the current situation of the furniture industry in Bangladesh and furniture prices in today’s market.
Furniture Market Overview
Increasing consumer demand and expanding economy have boosted the furniture industry in Bangladesh over the past few decades. Besides, progress has been made in the furniture production and supply chain system at the local level. Additionally, increasing residential and commercial construction has also increased the demand for furniture.
According to the data available from EPB (Export Promotion Bureau), the size of the furniture market in the country is around BDT 25,000 crores. Also branded and non-branded manufacturers hold 35% and 65% market share respectively.
Top Searched Furniture Categories at Bikroy
Constant desire for new furniture design is driving the growth and demand of the furniture industry. Here we have listed the most searched furniture categories from data sourced from Bikroy.
As Based on the infographics, living room furniture tops the list, as we often see this category of furniture in showrooms and purchase it for our homes/offices. It is followed by bedroom furniture, office furniture, shop furniture, and kitchen furniture respectively.
Ads Posted by Furniture Condition
Online furniture shopping and the inclusion of SME (Small and Medium-sized Enterprises) businesses in the research have made it easier to obtain statistics on the furniture market.
As seen from the infographic, new and used furniture accounted for 42% and 58% of all ad space respectively. From this, it can be assumed that the market for new and old furniture in the country is running at the relatively same pace.
Ad Number of Bikroy Members Vs. Non-Members
Bikroy offers a ‘Membership Service‘ to help businesses of any size, including small and medium, across the country to expand online. As seen from the infographic, about 61% of the total ads are posted by Bikroy members while the remaining 39% are posted by private users.
Ads Based on Location
Being the capital of the country and a major trade hub, Dhaka accounted for nearly 70% of Bikroy’s total furniture advertising space, followed by Chittagong, and other cities at 11%, and 9% respectively.
On the other hand, 6% of ads are posted from Sylhet and 3% of ads are posted from Khulna.
Note that, the stats shared in the infographic are calculated based on new and used furniture ads.
Types of Furniture
Although the furniture market has faced many challenges in the past few years due to the pandemic and global economic recession, this market is currently on the way to achieving growth because of online platforms like Bikroy.com.
According to the infographic, among the furniture items, living room furniture, bedroom furniture, and office furniture, occupy the highest 37%, 35%, and 16% of the total ad space respectively.
On the other hand, kitchen and dining furniture and children’s furniture occupy 10% and 2% of the total advertisement space respectively.
Top 5 Furniture Brands in Bangladesh
An analysis of the country’s furniture market reveals several well-known names. Bikroy has named the top 5 furniture brands in the country based on user data in 2022:
- Hatil Furniture
- Navana Furniture
- Akhtar Furnishers
- Partex Furniture
Top 5 Bikroy Members
In this part of the infographics, Bikroy has listed the top 5 furniture members who are currently enjoying the membership features. These members are:
- Sapno Bilash Furniture
- Craft Wood Furniture
- The Majestic Furniture
- Tradcobd Interior Design
- Janata Furniture Ltd.
Increasing purchasing capability and affordable housing are helping the furniture industry expand further. Also, the number of entrepreneurs in this sector has increased tremendously in the last decade.
Keep an eye on the Bangladeshi furniture market trends and other related news – at Bikroy.
Best wishes to you for a prosperous future!