Furniture - Croatia

Croatia

In Croatia, the revenue in the Furniture market is projected to reach US$942.20m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.65% (CAGR 2024-2029).
The largest segment within the market is the Bedroom Furniture segment, which is estimated to have a market volume of US$241.80m in 2024.
When compared globally, in the United States generates the highest revenue in this market, amounting to US$264bn in 2024.
Considering the total population, each person in Croatia generates revenues of US$236.40 in 2024.
Croatia's furniture market is experiencing a surge in demand for locally crafted, sustainable pieces, reflecting the country's growing appreciation for traditional craftsmanship and eco-consciousness.

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 Croatia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Furniture market in Croatia have been shifting towards more modern and minimalist designs. Customers are increasingly looking for furniture that is functional, space-saving, and aesthetically pleasing. This trend is in line with global preferences, as consumers are seeking simplicity and versatility in their furniture choices. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, reflecting a greater awareness of environmental issues among consumers.

Trends in the market: indicate a rise in online furniture shopping in Croatia. The convenience and wide range of options offered by online retailers have attracted a significant number of customers. This trend is consistent with the global shift towards e-commerce in the furniture industry. Online retailers are able to offer competitive prices and provide detailed product information, making it easier for customers to compare and make informed purchasing decisions. Furthermore, the covid-19 pandemic has accelerated the adoption of online shopping, as consumers have turned to online platforms to meet their furniture needs while adhering to social distancing measures.

Local special circumstances: in Croatia also contribute to the development of the Furniture market. The country's growing tourism industry has created a demand for furniture in hotels, resorts, and vacation rentals. This sector presents opportunities for furniture manufacturers and retailers to cater to the specific needs of the hospitality industry. Additionally, croatia's strong tradition of craftsmanship and design excellence has positioned the country as a hub for high-quality furniture production. This reputation has attracted international attention and boosted the export potential of Croatian furniture manufacturers.

Underlying macroeconomic factors: such as economic growth and disposable income levels also play a role in the development of the Furniture market in Croatia. As the country's economy continues to improve, consumers have more purchasing power and are willing to invest in durable and high-quality furniture. Furthermore, favorable government policies and incentives for the furniture industry have encouraged investment and innovation in the sector. In conclusion, the Furniture market in Croatia is experiencing growth driven by changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and minimalist designs, the rise of online furniture shopping, the demand from the tourism industry, and the country's reputation for craftsmanship contribute to the positive development of the market. Additionally, favorable macroeconomic conditions and government support further stimulate growth in the Furniture market in Croatia.

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.