Nigeria’s Furniture Industry Set for 300% Growth by 2027, FEWA Report Reveals

Mary Nnah

Nigeria’s furniture and decor scene is undergoing a significant transformation, driven by urbanisation, a rising middle class, and increased investment in real estate.
According to a report by Furniture Expo West Africa (FEWA), the industry is valued at over $2 billion as of late 2024, with projections suggesting a 300% growth in the next three years, potentially reaching $6 billion. Another estimate puts the industry’s value at $5 billion in 2023, with a compound annual growth rate (CAGR) of 12.10% expected through 2028.

The smart furniture market in Nigeria is also on the rise, projected to reach $23.9 million USD by 2030, driven by tech-savvy consumers and sustainability trends, as highlighted in the FEWA report.
Key trends reshaping the industry include digital integration, customisation and luxury, sustainability, local manufacturing, smart living, and design meets culture.

“Digital integration and luxury demand are redefining the furniture landscape in Nigeria,” according to industry insights cited in the FEWA report.
Online furniture sales are booming through e-commerce and mobile platforms, while consumers increasingly prioritise bespoke, high-end designs and eco-conscious furniture.

Despite the growth prospects, the industry faces challenges, including inflation and high material costs, access to finance, and logistics issues. According to the FEWA report, 81% of businesses in the sector identify inflation and high material costs as major challenges, followed by access to finance (33%) and logistics issues (29%).

The report also reveals that 90% of businesses in the sector report positive growth, with 52% experiencing moderate growth and 38% strong growth. The industry is driven by commercial real estate, residential housing, and home automation, with luxury demand on the rise.

Nigeria’s contribution to Africa’s share of the $654 billion global home decor market is rising, with trends indicating digital-first discovery, style meets sustainability, and a resurgence of local artisans and heritage pieces. Exhibitions like FEWA play a crucial role in promoting brand visibility, discovery, and relationship building, with 85.7% of industry players viewing them as “valuable” or “extremely valuable,” as per the report.

The full FEWA State of the Industry Report will provide deeper insights into the sector, including sector deep-dives and data insights, growth levers across sub-sectors, investment signals and opportunities, exhibition value and brand-building insights, and policy and innovation recommendations. As the report’s release approaches, stakeholders are eagerly anticipating valuable insights that will shape the future of Nigeria’s furniture and decor industry.
Furniture in Nigeria is no longer just functional, it is cultural, economic, and aspirational.
FEWA remains the platform where design, business, and industry meet, and the upcoming report promises to redefine the role of furniture in shaping modern African living.