Kitchen & Dining Furniture - G20 | Statista Market Forecast

In 2024, the revenue in the Kitchen & Dining Furniture market in G20 amounts to US$75.05bn.
It is projected that the market will experience an annual growth rate of 3.34% between 2024 and 2029 (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$39bn in 2024.
Taking into account the total population figures, per person revenues of US$21.19 are generated in 2024 in G20.
In India, the demand for modular kitchen furniture is on the rise, as consumers are looking for space-saving and functional solutions for their small kitchen spaces.

Definition:

The Kitchen & Dining Furniture segment covers diferent movable objects designed for kitchen and dining rooms. These objects mainly meet people’s needs for eating, preparing food, or food storage and includes dining tables, baker’s racks, kitchen islands/carts, pantry storage, and various types of kitchenware. Items not considered include household appliances such as refrigerators, stoves, small kitchen appliances, and sinks and faucets.

Structure:

The Kitchen & Dining Furniture segment is divided into two subsegments:

The Dining Tables, Kitchen Islands & Pantries subsegment includes furniture pieces designed to enhance the functionality and aesthetics of kitchen and dining spaces. These products range from traditional dining tables to kitchen islands and pantry storage units, providing both practical and decorative value to the kitchen and/or dining spaces.
The Kitchenware subsegment refers to items which aid in the preparation and the serving of food. Products in this subsegment include cookware such as pots and pans, tableware such as cutlery and glassware, and other items that are essential for the preparation and serving of food.

Additional Information:

The Kitchen & Dining Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment 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.

Dining tables
Kitchen islands and carts
Food pantries
Kitchenware

Household appliances
Cookware, kitchen, and cleaning utensils
Kitchen remodels

The Kitchen & Dining Furniture market in G20 is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Kitchen & Dining Furniture market have shifted towards more modern and minimalist designs. Consumers are now looking for furniture that not only serves its purpose but also adds aesthetic value to their homes. This change in preference is driven by the increasing focus on interior design and home decor. Additionally, customers are also seeking furniture that is durable, easy to clean, and environmentally friendly. Trends in the market are also contributing to its development. One notable trend is the rise of online shopping for furniture. With the convenience of e-commerce platforms, customers can now browse and purchase a wide range of Kitchen & Dining Furniture from the comfort of their homes. This trend has opened up new opportunities for both local and international manufacturers to reach a larger customer base. Another trend is the growing demand for multifunctional furniture. As living spaces become smaller and more compact, customers are looking for furniture that can serve multiple purposes, such as dining tables that can be extended or transformed into workspaces.

Local special circumstances: in different countries further contribute to the development of the Kitchen & Dining Furniture market. For example, in countries with a strong culinary culture, such as Italy and France, there is a higher demand for premium and luxury dining furniture. These countries also have a long-standing tradition of craftsmanship, which adds value to locally made furniture. On the other hand, in countries with a more fast-paced lifestyle, such as the United States and China, there is a higher demand for functional and affordable furniture that can be easily assembled and disassembled.

Underlying macroeconomic factors: also play a crucial role in the development of the Kitchen & Dining Furniture market. Economic growth and rising disposable incomes in many G20 countries have led to an increase in consumer spending on home furnishings. As people's lifestyles improve, they are more willing to invest in high-quality and stylish furniture for their kitchens and dining areas. Additionally, urbanization and population growth in emerging economies have created a demand for affordable and space-saving furniture solutions. In conclusion, the Kitchen & Dining Furniture market in G20 is developing and growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers seek modern and minimalist designs, manufacturers and retailers are adapting to meet these demands. The rise of online shopping and the demand for multifunctional furniture are also shaping the market. Moreover, local special circumstances and underlying macroeconomic factors contribute to the unique dynamics of the market in different countries. Overall, the Kitchen & Dining Furniture market in G20 presents lucrative opportunities for businesses to cater to the evolving needs and preferences of customers.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.