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The Europe furniture market is projected to reach a value of USD 35.93 billion from 2021 to 2026, at a CAGR of 2.95%. The Europe furniture market is a thriving industry that includes the buying and selling of various types of furniture. Countries like Germany, Italy, and France are major players in the European furniture market. The demand for sustainable and eco-friendly furniture is increasing in Europe. Germany has the highest furniture consumption per capita in Europe. Online furniture sales in Europe are expected to grow exponentially over the next five years.
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Our market trends and analysis report includes comprehensive data on drivers, trends, and challenges that will help market players stand out in the market. Online sales of furniture are gaining popularity in Europe, with many consumers preferring to shop from the comfort of their homes. Scandinavian design influences the European market with its minimalist and functional approach. Upholstered furniture holds a significant portion of the total furniture sales in Europe. Scandinavian design furniture has a major hype in the market.
One of the key factors driving the market growth is the growth of the real estate and construction industry as it contributes to an increase in the number of office spaces, commercial complexes, and residential buildings. In addition, the increase in the number of single-person and two-person households has contributed to an increase in residential construction activities. The longevity of baby boomers, growing urbanization, and the lifestyle patterns of millennials have contributed to the rising demand for customized furniture. For instance, as per the World Bank Group, the urban population as a percentage of the total population in the European Union increased from 73.9% in 2015 to 74.9% in 2020. Due to space constraints in urban areas, the demand for multifunctional furniture is also increasing. Such factors are expected to have a significant impact on the growth of the Europe furniture industry in the forecast period.
Another key factor driving the market growth is the increasing adoption of eco-friendly furniture owing to increasing concerns regarding global warming and deforestation. Biodegradable, sustainable, and renewable raw materials, such as wood, are used in the manufacturing of eco-friendly luxury furniture. North American hardwood is one of the best eco-friendly raw materials used for manufacturing eco-friendly and organic luxury furniture. Furthermore, bamboo has emerged as an eco-friendly substitute for conventional wood used for the manufacturing of luxury furniture. Vendors such as Alta Decoración ArtesMoble SL and Vermont Woods Studios LLC are among the popular manufacturers of eco-friendly and organic furniture globally. The growth of the eco-friendly and organic furniture category is being invigorated by recognition such as awards. Such factors render the rapid emergence of eco-friendly and organic furniture a vital trend, which will positively impact the market growth and trends during the forecast period.
In the European furniture industry, regulatory environments and standards are paramount to ensuring the quality and safety of furniture products. The EU furniture industry adheres to stringent standards that safeguard consumers and employees alike. Germany furniture market exemplifies adherence to high standards in its market. These regulations extend across European furniture retail, fostering a consistent level of quality. As employee welfare is crucial, compliance with these standards promotes a secure working environment. The harmonization of regulations across the EU furniture industry underscores the commitment to maintaining a high level of quality and safety in furniture products.
Factors affecting the market growth in Europe are the cost challenges faced by manufacturers and vendors. The complexities associated with the transportation of raw materials (such as wood) and furniture assemblies are reflected in the cost of the end-product. Typically, transportation costs comprise all the costs associated with the supply of raw materials to manufacturing facilities, the supply of transitional goods to production sites, the transportation of end-products to warehouses, and the delivery of finished goods to end-users, which are borne by manufacturers. In addition, the vendors are also liable to pay taxes, duties, and fuel prices. Other factors such as increasing raw material costs and labor costs are also expected to challenge the growth of the market in focus during the forecast period.
This European market growth analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The market research and growth report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market research report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our market growth and forecasting report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the Europe home furnishings market includes the following core components:
The market forecasting report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The market growth by the offline segment will be significant during the forecast period. The growth in the offline distribution of furniture is augmented by a significant increase in the number of vendors that are expanding and operating their offline stores across Europe.
Furniture segmentation by type in Europe reflects diverse consumer preferences across countries like Germany, Poland, Italy, and France. Consumers in each country play a pivotal role in shaping furniture consumption patterns, with distinct trends in designs and preferences. Furniture manufacturers cater to this diversity, offering a wide range of products such as tables, chairs, beds, and desks. The availability of various designs further influences consumption, with suppliers adapting to regional tastes. China, a significant player in the market, also impacts consumption patterns, as European consumers seek a blend of quality, design, and affordability, making furniture segmentation a dynamic and responsive industry.
The Europe furniture market's residential segment undergoes a comprehensive analysis, encompassing diverse items like sofas, cabinets, and office furniture. As a world leader in furniture production, the sector balances comfort and design, meeting the demands of homes across Spain, the United Kingdom, and beyond. The executive summary highlights investment trends and emerging technologies, while retailers cater to evolving consumer preferences. With a significant workforce, the furniture sector plays a crucial role in the economies of these countries. As global influences, including India and Vietnam, contribute to the market dynamics, Europe's residential furniture segment remains a dynamic and evolving industry.
The European home furnishing commercial segment undergoes a detailed analysis, exploring various items such as shelves, wardrobes, and office furniture. Styles vary across Europe's furniture markets, with an emphasis on quality and design to withstand stiff competition. The European furniture industry, including the EU furniture market, experiences dynamic trade and retail activities. Showrooms and shops in Germany, a key player in the European home furnishing market, showcase diverse styles to cater to commercial needs. As the European furniture industry continues to evolve, competition drives innovation, positioning it as a significant player in the global furniture trade.
Europe Contract Furniture and Furnishing market - The market share is expected to increase by USD 3.72 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.32%.
Furniture Market Scope in Europe |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 2.95% |
Market growth 2022-2026 |
USD 35.93 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.13 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
B and B Italia SPA, BoConcept, Calligaris SPA, Colombini SPA, F. Hoffmann La Roche Ltd., Fritz Hansen, Inter IKEA Holding BV, Molteni and C SpA, Natuzzi SpA, and Poltrona Frau SPA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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