Europe Furniture Market

Europe Furniture Market Size:

The Europe furniture market size is projected to exhibit a growth rate (CAGR) of 5.22% during 2024-2032. The furniture market is driven by increasing urbanization, growing homeownership rates, and the significant expansion in e-commerce growth reshaping consumer preferences and stimulating innovation across the Europe market.

Europe Furniture Market Analysis:

• Major Market Drivers: The need for eco-friendly furniture solutions is rising due to population expansion, urbanization, and increased knowledge of sustainable practices, pushing manufacturers to innovate in materials and production techniques.
• Key Market Trends: As consumers look for integrated technological resolutions for convenience and efficiency in their living spaces, smart and connected furniture is becoming more popular. Similarly, customers are looking for distinctive and personalized furniture pieces to showcase their style and uniqueness owing to a growing tendency of customization and personalization.
• Competitive Landscape: The market is dominated by established firms due to their wide product offerings and global reach, while smaller, niche players are becoming more competitive by appealing to affluent customers looking for exclusivity and delivering specialized designs and artisanal craftsmanship.
• Challenges and Opportunities: As per the Europe furniture market forecast, manufacturers are facing difficulties due to increased raw material costs and supply chain interruptions, which calls for effective resource management and robust supply chains. Apart from this, in an increasingly digitalized industry, the European furniture market has a plethora of potential for market participants to take advantage of digital technologies such as augmented reality to create virtual furniture shopping experiences, hence improving customer engagement and boosting sales.

Europe Furniture Market Trends:

Increasing Urbanization

The steady rise in urban population of Europe has been a significant driver for the furniture market. As more people move to urban centers, there is an increased need for residential and commercial furniture. For instance, the European Commission (EU) projects that by 2050, the total population of European Functional Urban Areas (FUAs) will grow by an average of 4%, and that by that same year, the percentage of Europe's land area that is urbanized would reach roughly around 83.7% in 2050. According to research administered by the European Commission (EU), 85% of people live in urban regions, with an estimation that almost 8 out of 10 individuals live in urban areas. The concept of urban centers is established by the European Commission for use in all countries. As to this definition, a city needs to have a minimum of 50,000 inhabitants and a population density of 1,500 persons per square kilometer, or a built-up area density that surpasses 50%. Thus, this surge in urbanization influences product demand by increasing the need for new housing and commercial space furnishings.

Rising Homeownership Rates

The Europe furniture market growth is strongly impacted by rising homeownership rates since homeowners tend to invest more in equipping their homes than renters, who may choose less expensive, temporary solutions. In 2021, as per Eurostat, 70% of EU citizens lived in households that owned their homes, with Romania having the highest homeownership rates at 95%. According to the data from the European Union for 2021, 53% of people lived in houses, 46% in apartments, and 1% of people occupied other types of housing, like houseboats or trailers. Houses were the most common type of housing in rural areas, where 83% of people lived, compared to 15% who lived in apartments. Thus, this significant number represents a large portion of the population that is inclined to spend money on furniture to improve and customize their living areas. As their tendency to see their property as a long-term investment, homeowners are responsible for spending money on durable furniture that will increase the worth of their houses. As a result, the constant rate of homeownership will continue to increase Europe furniture demand.

E-commerce Growth

The furniture business has seen a revolution due to the rapid expansion of e-commerce, especially considering the recent increase in online sales. This is due to the online shopping offers consumers the convenience of easy access to a vast array of furniture products. Additionally, the ability to compare costs, designs, and styles from the comfort of one's home is another benefit of online marketplaces, which increases supplier competition and gives customers more options. For example, according to the IMARC Group, the e-commerce market in Europe is expected to increase at a compound annual growth rate (CAGR) of 8.4% between 2024 and 2032. In the furniture industry, where customers may find exclusive offers and a greater selection than in typical brick-and-mortar stores, online shopping is particularly alluring. Thus, this pattern assists in changing consumer behavior and expands the reach of furniture retailers, contributing significantly to the growth of the furniture market in Europe.

Europe Furniture Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on material, distribution channel, and end use.

Breakup by Material:

• Metal
• Wood
• Plastic
• Glass
• Others
   

The report has provided a detailed breakup and analysis of the market based on the material. This includes metal, wood, plastic, glass, and others.

Wood remains a prominent material in the European furniture market due to its durability, aesthetic appeal, and versatility. The increasing popularity of natural products and sustainability is escalating the demand for wooden furniture. Along with this, the demand for environmentally friendly furniture is rising among European consumers, which is driving up the usage of organic materials and wood that is supplied sustainably. This market has benefited from the long traditions of European workmanship, which increase the allure of fine wooden furniture. For instance, the European Confederation of Woodworking Industries (CEI-Bois), is made up of 21 national and European organizations from 15 different countries with more than 180,000 companies in the EU generating 152 billion euro yearly revenue. Thus, this segment benefits from the rich craftsmanship traditions in Europe, which enhance the appeal of high-quality wooden furniture.

Furthermore, metal furniture is a popular option for residential and commercial settings in Europe due to its robustness, contemporary aesthetic, and ease of upkeep. Additionally, metal is frequently utilized in the design of modern furniture, including outdoor furniture and minimalist frames for tables and chairs owing to its longevity. It is propelled by advancements in design and utility, satisfying the need of contemporary consumers for furniture that blends fashion and utility.

Plastic furniture is a good choice for clients searching for lightweight, reasonably priced furniture due to its affordability and versatility. Also, the continuous advancements in plastic composites, which enhance the strength and attractiveness of plastic furniture, are influencing the market growth. Additionally, there is a growing emphasis on eco-friendly and recyclable plastics, which is consistent with European consumers' growing environmental consciousness.

Glass furniture is prized for its aesthetic appeal, giving rooms a sleek, contemporary feel. This category contains decorative elements, shelving, and glass tabletops. It is frequently used with other materials to improve stability and design, such as metal or wood. Moreover, glass furniture's transparency can give rooms a feeling of openness and space, which is a desirable quality in residential and commercial interiors, thus positively influencing the Europe furniture market outlook.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, online stores, and others.

Supermarkets and hypermarkets generally have a small assortment of furnishings with an emphasis on reasonably priced, portable, small-scale products. They serve clients who are searching for good prices and ease. The furniture range includes smaller, flat-pack furniture options, which fit well with the typical purchasing patterns of patrons who frequent these stores for regular purchases.

Specialty stores offer a broad range of goods, from inexpensive to high-end merchandise. A wide range of services, including personalized alternatives, interior design guidance, and perhaps even home delivery and installation, are frequently provided by specialty furniture retailers. Moreover, customers looking for higher-quality furnishings or certain types that might not be found in more general retail establishments are drawn to these places, thus propelling the market growth.

Online retailers frequently provide the ease of direct home delivery along with a large assortment of furnishings at affordable costs. These platforms serve a tech-savvy consumer base that values variety, ease of use, and home shopping options. Also, the growth of digital payment systems, enhanced customer trust in online buying, and logistical advancements have all contributed to the expansion of the online segment. For instance, in June 2023, Lumens, a leading online platform catering to consumers and trade experts in design, is thrilled to declare the addition of the esteemed Italian luxury design brand B&B Italia to its offerings.

Breakup by End Use:

• Residential 
• Commercial
   

The report has provided a detailed breakup and analysis of the market based on the end use. This includes residential and commercial.

The residential furniture market in Europe is influenced by the rich design legacy of the European continent is impacting the home furniture market, creating a strong desire for visually beautiful and superior furniture. From mattresses and couches to storage options like cupboards and closets, this category meets the diverse demands of homes. The increasing number of smaller homes and urban living conditions are fueling a growing trend for multipurpose and space-saving furniture. Trends toward sustainability are also having a big impact on this market, as demand for eco-friendly furniture is rising. In-home settings, innovations like smart furniture incorporate technology for improved functionality, thus contributing to the market growth.

The commercial furniture market in Europe includes furniture designed for business environments, including offices, hospitality, and retail spaces. It is characterized by a demand for durable and functional furniture that can accommodate the needs of various business operations. Office furniture tends to focus on ergonomic designs to enhance comfort and productivity in the workplace. The hospitality industry drives demand for stylish and robust furniture that can handle high-traffic use, reflecting the region’s strong tourism sector. Additionally, the commercial segment is adapting to the digital age with furniture that supports the technology used in modern business environments.

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

The report has also provided a comprehensive analysis of all the major markets in the country, which include Germany, France, the United Kingdom, Italy, Spain, and others.

The furniture market in Germany prefers eco-friendly and well-designed furniture. The strong economic performance of the nation affects the market dynamics by driving up consumer expenditure on high-end furnishings. In line with wider environmental concerns, German consumers are demonstrating an increasing demand for practical and environmentally friendly furniture, which encourages producers to include sustainability in their production methods. The need for residential and commercial furniture is driven by the well-established housing sector, which also supports the market.

The UK furniture market is broad, with a strong market for conventional and contemporary styles. Additionally, the high internet penetration rate resulted in a growth in online furniture sales, thus influencing the market growth. Also, UK consumers are more interested in multipurpose and space-saving furniture due to the urban lifestyle and limited living spaces found in city centers. As per the latest report by the Furniture Industry Research Association in 2022, the UK Furniture Industry had a revenue of nearly £41 billion in 2022, where more than 29,000 businesses in the network supported the industry. Moreover, the Furniture Industry Research Association in 2022, the UK furniture and furnishings industry includes design, manufacture, sale, and repair resulting in the total manufacturing revenue to increase by 10% to £11.35 billion by 2022 higher than 2021. Thus, the size and strength of the UK Furniture Industry make it a significant player in the European furniture market.

The France furniture business, where traditional craftsmanship and cutting-edge design meet, is escalating the market growth. Moreover, luxurious furniture is in high demand on the French market, due to the nation's rich artistic legacy, while high-quality materials and distinctive designs are highly valued. French buyers typically want furniture that is aesthetically pleasing and functional, which reflects their emphasis on elegance and comfort in their daily lives. Additionally, a movement in the market is occurring toward online retail, which gives customers access to a greater selection of furniture products. The market is also seeing a shift towards online retail, which expands consumer access to a wider range of furniture products.

The furniture market in Spain is vibrant, with a preference for cutting-edge and contemporary styles. The rich cultural legacy of the country and its effect on furniture styles have bright, varied designs that benefit the market. The Spanish furniture market is embracing the digital era, as evidenced by the rise in online sales platforms that provide customers with greater accessibility and convenience. Besides this, in February 2024, B&B Italia presented its brand-new outdoor line in February 2024. It adds new pieces to its range of outdoor furniture, signed by renowned worldwide designers such as Mario Bellini's Softcage and La Bambola Outdoor, Monica Armani's Tesa O' Outdoor, and Barber Osgerby's Button Tables Outdoor. The 2024 collection was portrayed and filmed at the evocative Solo House in Matarraña, Spain.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have been provided. Some of the major market players in the Europe furniture industry.
• At present, key players in the market are implementing various strategies to expand their Europe furniture market share. They are focusing on innovation in design and materials to cater to evolving consumer preferences for sustainable and stylish furniture. Additionally, companies are expanding their online presence and e-commerce capabilities to reach a wider customer base. Besides this, collaborations with interior designers and architects help to create trend-setting furniture collections. Moreover, investments in research and development (R&D) aim to improve product quality and functionality influencing market growth. These key players are driving the growth of the European furniture market by prioritizing customer satisfaction and adapting to changing market trends across the region.

Europe Furniture Market Report Scope:

Key Questions Answered in This Report:

• How has the Europe furniture market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe furniture market?
• What is the breakup of the Europe furniture market on the basis of material?
• What is the breakup of the Europe furniture market on the basis of distribution channels?
• What is the breakup of the Europe furniture market on the basis of end use?
• What are the various stages in the value chain of the Europe furniture market?
• What are the key driving factors and challenges in the Europe furniture market?
• What is the structure of the Europe furniture market, and who are the key players?
• What is the degree of competition in the Europe furniture market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe furniture market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Europe furniture market.
• The study maps the leading, as well as the fastest-growing, markets. It further enables stakeholders to identify the key country-level markets within the region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe furniture industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.