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:
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
The Furniture market in Finland has been experiencing steady growth over the past few years, driven by changing customer preferences, emerging trends, and favorable macroeconomic factors.
Customer preferences: in the Finnish Furniture market have shifted towards more sustainable and eco-friendly products. Customers are increasingly conscious of the environmental impact of their purchases and are opting for furniture made from renewable materials such as wood and bamboo. Additionally, there is a growing demand for furniture that is designed to be multifunctional and space-saving, catering to the needs of smaller living spaces in urban areas. Trends in the Finnish Furniture market reflect the global shift towards online shopping. e-commerce has gained significant traction in recent years, allowing customers to browse and purchase furniture from the comfort of their own homes. This trend has been further accelerated by the covid-19 pandemic, as people have been spending more time at home and seeking to improve their living spaces. Online retailers have capitalized on this trend by offering a wide range of furniture options, competitive prices, and convenient delivery services. Another trend in the Finnish Furniture market is the rise of Scandinavian design. Known for its minimalist and functional approach, Scandinavian design has gained popularity both domestically and internationally. Finnish furniture brands are known for their high-quality craftsmanship and timeless aesthetic, attracting customers who appreciate the simplicity and elegance of Scandinavian design. Local special circumstances in Finland also contribute to the development of the Furniture market. Finland has a strong tradition of woodworking and furniture manufacturing, with many local artisans and manufacturers producing unique and high-quality furniture pieces. This craftsmanship and attention to detail have helped Finnish furniture brands establish a reputation for excellence, attracting customers who value quality and durability. Additionally, finland's cold climate and long winters have created a culture of indoor living, with people spending more time at home and investing in their living spaces. Underlying macroeconomic factors have also played a role in the growth of the Finnish Furniture market. Finland has a stable economy with a high standard of living, allowing consumers to prioritize quality and design when making furniture purchases. Additionally, favorable government policies and incentives have supported the growth of the furniture industry, encouraging innovation and sustainable practices. In conclusion, the Furniture market in Finland is developing in response to changing customer preferences, emerging trends, and favorable macroeconomic factors. Customers are increasingly seeking sustainable and multifunctional furniture options, while online shopping and Scandinavian design continue to gain popularity.
Local special circumstances: such as finland's woodworking tradition and indoor living culture, further contribute to the growth of the market. Overall, the Finnish Furniture market is expected to continue its upward trajectory in the coming years.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights