Furniture - Estonia

Estonia

In Estonia, the revenue in the Furniture market reached US$308.90m in 2024.
It is projected to experience an annual growth rate of 2.13% (CAGR 2024-2029).
The largest segment within this market is the Bedroom Furniture segment, which accounted for a market volume of US$122.50m in 2024.
When compared globally, in the United States generates the highest revenue in this sector, amounting to US$263bn in 2024.
In terms of per capita figures, in Estonia generates 0.00 in revenue per person in 2024.
Estonia's furniture market is experiencing a surge in demand for eco-friendly and minimalist designs, reflecting the country's commitment to sustainability and modern aesthetics.

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 Estonia has been experiencing steady growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.

Customer preferences: in the Furniture market in Estonia have shifted towards more modern and minimalist designs, reflecting global trends in interior design. Customers are increasingly looking for furniture that is both functional and aesthetically pleasing, with a focus on clean lines and neutral colors. Additionally, there is a growing demand for sustainable and eco-friendly furniture, as customers become more conscious of the environmental impact of their purchases. Trends in the market include the rise of online shopping, which has made it easier for customers to compare prices and find the best deals. Online retailers have also expanded their product offerings, providing customers with a wider range of options to choose from. Another trend is the increasing popularity of customized furniture, as customers seek to add a personal touch to their living spaces. This trend has been supported by technological advancements, such as 3D printing and virtual reality, which allow customers to visualize and customize their furniture before making a purchase. Local special circumstances in Estonia have also contributed to the development of the Furniture market. The country has a high homeownership rate, which has created a strong demand for furniture. Additionally, the relatively small size of the country's population has led to a competitive market, with furniture retailers constantly innovating and offering unique products to attract customers. Underlying macroeconomic factors have also played a role in the growth of the Furniture market in Estonia. The country has experienced a period of economic stability and growth, which has increased consumer confidence and purchasing power. Low interest rates and favorable lending conditions have also made it easier for customers to finance their furniture purchases. Furthermore, the government has implemented policies to support the growth of the furniture industry, such as providing incentives for companies to invest in research and development. In conclusion, the Furniture market in Estonia is developing in response to changing customer preferences, supported by favorable macroeconomic factors and

Local special circumstances:. The market is expected to continue growing in the coming years, driven by trends such as online shopping and customization.

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.