Europe- Ready to Assemble (RTA) Furniture Market by Product and Distribution Channel - Forecast and Analysis 2024-2028

Published: Jan 2024

Pages: 145

SKU: IRTNTR43235

Snapshot

Europe - Ready to Assemble (RTA) Furniture Market 2024-2028

The Europe - Ready to Assemble (RTA) Furniture Market size is forecast to increase by USD 3.57 billion, at a CAGR of 3.18% between 2023 and 2028. The market growth analysis depends on several factors, including the reduction in average urban living space in Europe, the growth of the hospitality industry in Europe, and the rising importance of interior decoration.

The report includes a comprehensive outlook on Ready to Assemble Furniture Market in Europe, offering forecasts for the industry segmented by Product, which comprises home RTA furniture, and office RTA furniture. Additionally, it categorizes Distribution Channel into offline, and online. The market growth and forecasting report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the Size of the Market During the Forecast Period?

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Market Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The growth of the hospitality industry in Europe is the key factor driving RTA Furniture Market in Europe growth. Europe continues to be the largest shareholder in the hotel and hospitality management sector across the globe. Europe consists of some of the world's most visited countries, such as France, Spain, Italy, the UK, Greece, and Germany. Such factors have led several hotels to expand their businesses in the region, which further drives the growth of the Europe - ready to assemble furniture market.

For instance, in June 2022, Radisson Hotel Group in the UK announced its plan to open a midscale lifestyle prizeotel brand in top UK cities such as London and Edinburgh and strategic destinations in the UK, as well as expand its existing portfolio across Europe. Also, in November 2021, Bvlgari Hotels and Resorts was inaugurated in Paris at 30 Avenue George V. Thus, the growth of the hospitality industry will increase the demand for RTA furniture, which will drive ready to assemble (RTA) furniture market in Europe growth during the forecast period.

Key Market Trends

Growing customized RTA furniture for personal interiors is the primary trend shaping market growth. The growing trend of customization has led the key competitors to manufacture custom-designed RTA furniture. This has enabled them to attract more customers, thereby increasing sales. Companies use consumer interaction platforms to get feedback from customers regularly. The key competitors provide customers with different colors, shades, shapes, and themes that enable them to select from a plethora of design options.

For example, Inter IKEA Holding BV (IKEA) offers an assembly service, which helps customers get a chance to personalize the fittings. Through this service, the customers can suggest additional modifications to the design of the furniture they select. Align with market trends and analysis, with extra attention to home decor, the ready to assemble (RTA) furniture market in Europe players are expected to achieve a competitive edge through customization. Thus, such factors will drive the growth of the market during the forecast period.

Major Market Challenge

Shortage of high-quality raw materials related to RTA furniture is a challenge that affects market growth. Wood is the most commonly used raw material in the ready to assemble (RTA) furniture market in Europe, with 40%-50% of furniture made of timber. The furniture industry is witnessing a shortage in the supply of timber with the growing demand. In addition, various non-governmental organizations and other environmental groups are running campaigns against excessive deforestation, hindering the supply of timber. This will lead to higher raw material acquisition costs for Europe - ready to assemble furniture market players, adding to their costs.

Additionally, voluntary measures have been introduced globally to tackle the illegal harvesting of timber. For example, the EU Timber Regulation (EUTR) in the furniture industry lays out obligations for traders and operators that sell timber and timber products in the European market. Manufacturers find it challenging to conform to these strict regulations imposed on sourcing raw materials. Thus, such factors may impede market growth during the forecast period.

Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ashley Global Retail LLC: The company offers ready to assemble furniture such as HOLLYANN Sofa RTA, Arcola RTA Sofa.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the Market?

The home RTA furniture segment is estimated to witness significant growth during the forecast period. Home RTA furniture includes living room furniture, bedroom furniture, kitchen furniture, dining room furniture, kids room furniture, and garden furniture. This is a major segment of the Europe - ready to assemble furniture market, with living room furniture and bedroom furniture as the dominating sub-segments.

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The home RTA furniture segment was the largest segment and was valued at USD 13.37 billion in 2018. Growing demand for modular kitchens and trendy bathrooms is contributing significantly to the segment. Consumers are increasingly investing in premium kitchen and bathroom furniture. Furniture for gardens and dining rooms is expected to play a vital role in the growth of the market. Further, due to high purchasing power, demand for premium and personalized RTA furniture made from high-quality raw materials is increasing. This is estimated to be one of the key drivers for the market. Thus, such factors will drive the growth of the home RTA furniture segment of the ready to assemble furniture market in Europe during the forecast period.

Segment Overview

The market report forecasts market growth by revenue and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.

Product Outlook
- Home RTA furniture
- Office RTA furniture

Distribution Channel Outlook
- Offline
- Online

Europe Ready to Assemble (RTA) Furniture Market Scope
Report Coverage	Details
Page number	145
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 3.18%
Market Growth 2024-2028	USD 3.57 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	2.44
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Alsapan, Ashley Global Retail LLC, BoConcept, Decorative Panels Holdings Ltd., Dorel Industries Inc., FABRYKI MEBLI FORTE SA, Flexa4Dreams AS, Fritz Hansen, Friul Intagli Industries Spa, GAUTIER GROUP, Inter IKEA Holding BV, Meubles Demeyere SA, MillerKnoll Inc., POLIPOL GROUP, ROSET SAS, Saviola Holding srl, Steelcase Inc., String Furniture AB, Tojo Mobel GmbH, and Tvilum AS
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, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Europe Ready to Assemble (RTA) Furniture Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market forecast between 2024 and 2028
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across Europe
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Europe: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

4.1 Ready to assemble (RTA) furniture market in Europe 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on ready to assemble (rta) furniture market in Europe 2018 - 2022 ($ billion)

4.2 Product Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

4.3 Distribution channel Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Distribution channel Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product

6.1 Market segments
- Exhibit 29: Chart on Product - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Product - Market share 2023-2028 (%)

6.2 Comparison by Product
- Exhibit 31: Chart on Comparison by Product
- Exhibit 32: Data Table on Comparison by Product

6.3 Home RTA furniture - Market size and forecast 2023-2028
- Exhibit 33: Chart on Home RTA furniture - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Home RTA furniture - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Home RTA furniture - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Home RTA furniture - Year-over-year growth 2023-2028 (%)

6.4 Office RTA furniture - Market size and forecast 2023-2028
- Exhibit 37: Chart on Office RTA furniture - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Office RTA furniture - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Office RTA furniture - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Office RTA furniture - Year-over-year growth 2023-2028 (%)

6.5 Market opportunity by Product
- Exhibit 41: Market opportunity by Product ($ billion)
- Exhibit 42: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

7.1 Market segments
- Exhibit 43: Chart on Distribution Channel - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Distribution Channel - Market share 2023-2028 (%)

7.2 Comparison by Distribution Channel
- Exhibit 45: Chart on Comparison by Distribution Channel
- Exhibit 46: Data Table on Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2023-2028
- Exhibit 47: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 48: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Chart on Offline - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on Offline - Year-over-year growth 2023-2028 (%)

7.4 Online - Market size and forecast 2023-2028
- Exhibit 51: Chart on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Online - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Online - Year-over-year growth 2023-2028 (%)

7.5 Market opportunity by Distribution Channel
- Exhibit 55: Market opportunity by Distribution Channel ($ billion)
- Exhibit 56: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 58: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 59: Data Table on Market share by geography - 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 60: Chart on Geographic comparison
- Exhibit 61: Data Table on Geographic comparison

9.3 Germany - Market size and forecast 2023-2028
- Exhibit 62: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 63: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 65: Data Table on Germany - Year-over-year growth 2023-2028 (%)

9.4 France - Market size and forecast 2023-2028
- Exhibit 66: Chart on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 67: Data Table on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Chart on France - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on France - Year-over-year growth 2023-2028 (%)

9.5 Sweden - Market size and forecast 2023-2028
- Exhibit 70: Chart on Sweden - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on Sweden - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on Sweden - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on Sweden - Year-over-year growth 2023-2028 (%)

9.6 UK - Market size and forecast 2023-2028
- Exhibit 74: Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 75: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on UK - Year-over-year growth 2023-2028 (%)

9.7 Rest of Europe - Market size and forecast 2023-2028
- Exhibit 78: Chart on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on Rest of Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on Rest of Europe - Year-over-year growth 2023-2028 (%)

9.8 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)
- Exhibit 83: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 84: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 85: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 86: Overview on factors of disruption

11.4 Industry risks
- Exhibit 87: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 88: Vendors covered

12.2 Market positioning of vendors
- Exhibit 89: Matrix on vendor position and classification

12.3 Ashley Global Retail LLC
- Exhibit 90: Ashley Global Retail LLC - Overview
- Exhibit 91: Ashley Global Retail LLC - Product / Service
- Exhibit 92: Ashley Global Retail LLC - Key offerings

12.4 BoConcept
- Exhibit 93: BoConcept - Overview
- Exhibit 94: BoConcept - Product / Service
- Exhibit 95: BoConcept - Key offerings

12.5 Decorative Panels Holdings Ltd.
- Exhibit 96: Decorative Panels Holdings Ltd. - Overview
- Exhibit 97: Decorative Panels Holdings Ltd. - Product / Service
- Exhibit 98: Decorative Panels Holdings Ltd. - Key offerings

12.6 Dorel Industries Inc.
- Exhibit 99: Dorel Industries Inc. - Overview
- Exhibit 100: Dorel Industries Inc. - Business segments
- Exhibit 101: Dorel Industries Inc. - Key offerings
- Exhibit 102: Dorel Industries Inc. - Segment focus

12.7 FABRYKI MEBLI FORTE SA
- Exhibit 103: FABRYKI MEBLI FORTE SA - Overview
- Exhibit 104: FABRYKI MEBLI FORTE SA - Product / Service
- Exhibit 105: FABRYKI MEBLI FORTE SA - Key offerings

12.8 Flexa4Dreams AS
- Exhibit 106: Flexa4Dreams AS - Overview
- Exhibit 107: Flexa4Dreams AS - Product / Service
- Exhibit 108: Flexa4Dreams AS - Key offerings

12.9 Inter IKEA Holding BV
- Exhibit 109: Inter IKEA Holding BV - Overview
- Exhibit 110: Inter IKEA Holding BV - Product / Service
- Exhibit 111: Inter IKEA Holding BV - Key news
- Exhibit 112: Inter IKEA Holding BV - Key offerings

12.10 Meubles Demeyere SA
- Exhibit 113: Meubles Demeyere SA - Overview
- Exhibit 114: Meubles Demeyere SA - Product / Service
- Exhibit 115: Meubles Demeyere SA - Key offerings

12.11 MillerKnoll Inc.
- Exhibit 116: MillerKnoll Inc. - Overview
- Exhibit 117: MillerKnoll Inc. - Business segments
- Exhibit 118: MillerKnoll Inc. - Key offerings
- Exhibit 119: MillerKnoll Inc. - Segment focus

12.12 POLIPOL GROUP
- Exhibit 120: POLIPOL GROUP - Overview
- Exhibit 121: POLIPOL GROUP - Product / Service
- Exhibit 122: POLIPOL GROUP - Key offerings

12.13 Saviola Holding srl
- Exhibit 123: Saviola Holding srl - Overview
- Exhibit 124: Saviola Holding srl - Product / Service
- Exhibit 125: Saviola Holding srl - Key offerings

12.14 Steelcase Inc.
- Exhibit 126: Steelcase Inc. - Overview
- Exhibit 127: Steelcase Inc. - Business segments
- Exhibit 128: Steelcase Inc. - Key offerings
- Exhibit 129: Steelcase Inc. - Segment focus

12.15 String Furniture AB
- Exhibit 130: String Furniture AB - Overview
- Exhibit 131: String Furniture AB - Product / Service
- Exhibit 132: String Furniture AB - Key offerings

12.16 Tojo Mobel GmbH
- Exhibit 133: Tojo Mobel GmbH - Overview
- Exhibit 134: Tojo Mobel GmbH - Product / Service
- Exhibit 135: Tojo Mobel GmbH - Key offerings

12.17 Tvilum AS
- Exhibit 136: Tvilum AS - Overview
- Exhibit 137: Tvilum AS - Product / Service
- Exhibit 138: Tvilum AS - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 139: Inclusions checklist
- Exhibit 140: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 141: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 142: Research methodology
- Exhibit 143: Validation techniques employed for market sizing
- Exhibit 144: Information sources

13.5 List of abbreviations
- Exhibit 145: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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