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:
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.
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: Oct 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
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 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