Key regions: Canada, United Kingdom, Brazil, Germany, India
The Kitchen & Dining Furniture market in G7 countries is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in G7 countries are increasingly seeking kitchen and dining furniture that combines functionality with style. They are looking for furniture pieces that not only provide ample storage space and durability but also enhance the overall aesthetic appeal of their homes. Additionally, customers are placing a strong emphasis on sustainable and eco-friendly materials, as well as furniture that is easy to clean and maintain.
Trends in the market: One of the prominent trends in the Kitchen & Dining Furniture market in G7 countries is the rise of open-concept kitchen designs. This trend has led to an increased demand for kitchen islands, bar stools, and dining sets that can seamlessly blend with the overall design of the living space. Moreover, there is a growing preference for modular furniture that can be easily customized and rearranged to suit changing needs and preferences.
Local special circumstances: Each G7 country has its own unique set of local special circumstances that influence the Kitchen & Dining Furniture market. For example, in the United States, the trend of open-plan living spaces and the popularity of home renovation shows have contributed to the demand for kitchen and dining furniture that reflects a modern and contemporary style. In Germany, where the concept of "Gemütlichkeit" (coziness) is highly valued, customers prefer furniture that creates a warm and inviting atmosphere in their kitchens and dining areas.
Underlying macroeconomic factors: The growth of the Kitchen & Dining Furniture market in G7 countries is also influenced by underlying macroeconomic factors. For instance, the strong economic performance and high disposable income levels in countries like the United States and Germany have led to an increase in consumer spending on home furnishings. Additionally, the growing trend of urbanization and smaller living spaces in countries like Japan and the United Kingdom has resulted in a demand for compact and multifunctional kitchen and dining furniture. In conclusion, the Kitchen & Dining Furniture market in G7 countries is driven by evolving customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers continue to prioritize functionality, style, and sustainability, the market is expected to witness further growth 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 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.
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