Furniture - EU-27

EU-27

In the year 2024, the Furniture market in the EU-27 is projected to generate a staggering revenue of US$171.60bn.
This market is anticipated to experience an annual growth rate of 2.44%, as measured by the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
Within the Furniture market, the largest segment is the Living Room Furniture segment, which is expected to reach a market volume of US$44.42bn in 2024.
When compared globally, United States takes the lead in revenue generation, with an estimated revenue of US$263bn in 2024.
To provide a more insightful perspective, in 2024, the per person revenues in the Furniture market within the EU-27 amount to US$383.40.
This figure takes into consideration the total population of the EU-27.
In Germany, the furniture market is driven by a strong demand for high-quality, sustainable products that combine functionality with modern design.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in EU-27 has been experiencing steady growth in recent years. Customer preferences have shifted towards more sustainable and eco-friendly furniture options, leading to an increase in demand for products made from recycled materials. Additionally, the rising popularity of online shopping has had a significant impact on the market, with consumers increasingly turning to e-commerce platforms to purchase furniture.

Customer preferences: In recent years, there has been a growing trend among customers in the EU-27 towards sustainable and eco-friendly furniture options. This shift in preferences can be attributed to an increased awareness of environmental issues and a desire to reduce waste. As a result, there has been a rise in demand for furniture made from recycled materials, such as reclaimed wood or recycled plastic. Another key customer preference in the EU-27 market is convenience. With the rise of e-commerce, consumers are increasingly turning to online platforms to purchase furniture. This allows them to browse a wide range of options from the comfort of their own homes and have the products delivered directly to their doorsteps. The convenience of online shopping has contributed to the growth of the furniture market in the EU-27.

Trends in the market: One of the major trends in the furniture market in the EU-27 is the increasing popularity of minimalist and Scandinavian designs. These styles are characterized by clean lines, simplicity, and functionality, which appeal to consumers looking for a modern and sleek aesthetic. The demand for minimalist and Scandinavian furniture has been on the rise, leading to an increase in the production and availability of these products in the market. Another trend in the market is the integration of technology into furniture. Smart furniture, equipped with features such as built-in charging ports or wireless connectivity, has gained popularity among tech-savvy consumers. This trend reflects the growing importance of technology in everyday life and the desire for furniture that can seamlessly integrate with modern devices.

Local special circumstances: The furniture market in the EU-27 is influenced by various local special circumstances. One such circumstance is the cultural diversity within the region. Each country within the EU-27 has its own unique cultural preferences and styles when it comes to furniture. This diversity presents opportunities for furniture manufacturers to cater to specific local tastes and preferences. Additionally, the EU-27 market is characterized by a high level of competition. There are numerous local and international furniture brands competing for market share. This competition drives innovation and encourages companies to constantly improve their products and services to stay ahead in the market.

Underlying macroeconomic factors: The growth of the furniture market in the EU-27 can be attributed to several underlying macroeconomic factors. Firstly, the region has experienced a period of economic stability and growth, which has resulted in increased consumer spending power. As a result, consumers are more willing to invest in furniture and home decor. Furthermore, the EU-27 has a large and aging population, which has contributed to the demand for furniture. As the population ages, there is a greater need for furniture that is comfortable, ergonomic, and accessible for individuals with mobility issues. This has led to an increase in the production and availability of furniture that caters to these specific needs. In conclusion, the furniture market in the EU-27 is driven by customer preferences for sustainable and eco-friendly options, as well as the convenience of online shopping. The market is characterized by trends towards minimalist and Scandinavian designs, as well as the integration of technology into furniture. Local special circumstances, such as cultural diversity and high competition, also influence the market. Underlying macroeconomic factors, such as economic stability and an aging population, contribute to the growth of the furniture market in the EU-27.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.