Europe Furniture Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Furniture Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

European high-end furniture is one of the largest and growing segments in the furniture industry, which was hit hard by the COVID-19 pandemic. The market experienced a constant year-on-year growth rate during the review period (2017-2020), which saw a sudden drop during 2020 due to the COVID-19 outbreak.

Europe plays a key role in the global furniture industry not only in terms of production but also in terms of market and international trade values. Europe remains the world's second-largest furniture manufacturing region and is the headquarters of some of the biggest and most important global players. Germany, Italy, and Poland are the main exporting countries at a global level. Europe has a long history of furniture manufacturing. The industry can combine new technologies and innovation with cultural heritage, tradition, and style, providing jobs for skilled workers and is also a world leader in the high-end furniture market segment. An increase in rising consumption is one of the key factors propelling the growth of the Europe furniture market. The Europe furniture market's growth in the future will be driven by growing demand for eco–friendly furniture, modern & luxury furniture, hotels & restaurants, raw materials from suppliers, reduction of high-cost transportation to manufacturers.

Office furniture includes desks, chairs, storage cabinets, and other items used for various purposes like cabinet meetings, desks for placing devices, logistics, and cafeteria. An increase in the employment rate is one of the factors raising the demand for office furniture. Increasing demand for office furniture coupled with rising investment in office spaces is anticipated to positively impact the growth of the Europe furniture market during the forecast period. Office furniture’s evolving with new designs and styles attractively, convince & comfortable to consumers, the demand for branded furnishing has increased, and companies from various countries are driving the Europe furniture market.

Ecommerce is increasing in Europe as customers prefer to shop online instead of in physical stores. The changing trends in the home and living concepts are transforming customers' buying patterns. The emergence of new opportunities for customers to shop online is one of the key factors boosting the online purchase of furniture such as chairs, storage files, tables, and desks. The trend for online furniture shopping will continue to evolve due to the availability of 24/7 customer support, online shipment tracking, cheaper costs, and a wide range of merchandise. Thus, with the growing demand for the online distribution channel, the Europe furniture market is expected to showcase a positive outlook during the forecast period. Customers prefer online buying due to the convenience and comfort of logistics and shipping furniture items to their doorstep. Major retailers like Flipkart, Amazon, Snapdeal, and Alibaba are creating a strong online brand presence and increasing sales with online stores and e-commerce portals.

The report covers major international players operating in the Europe Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

• The market estimate (ME) sheet in Excel format
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