Key regions: Canada, United Kingdom, Brazil, Germany, India
The Kitchen & Dining Furniture market in South America has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.
Customer preferences: in South America have played a significant role in driving the growth of the Kitchen & Dining Furniture market. Consumers in the region have shown a growing interest in modern and stylish furniture designs for their kitchens and dining areas. They are increasingly seeking furniture that not only serves its functional purpose but also enhances the overall aesthetics of their homes. This preference for contemporary designs has led to an increased demand for sleek and minimalist kitchen and dining furniture.
Trends in the market: have also contributed to the growth of the Kitchen & Dining Furniture market in South America. One notable trend is the rising popularity of open-concept kitchen and dining areas. Many homeowners in the region are opting for open floor plans, where the kitchen seamlessly flows into the dining area. This trend has created a demand for furniture that can effectively blend these two spaces together, such as kitchen islands with integrated dining tables or dining chairs that complement the kitchen decor.
Local special circumstances: have also played a role in the development of the Kitchen & Dining Furniture market in South America. The region has a rich culinary tradition, with food and dining playing an important role in the culture. As a result, South American consumers tend to prioritize the design and functionality of their kitchen and dining furniture. They are willing to invest in high-quality pieces that can withstand the demands of daily cooking and dining activities.
Underlying macroeconomic factors: have also contributed to the growth of the Kitchen & Dining Furniture market in South America. The region has experienced economic growth in recent years, leading to an increase in disposable incomes. As a result, consumers have more purchasing power and are able to invest in higher-end kitchen and dining furniture. Additionally, urbanization and population growth in South American cities have created a demand for smaller and more space-efficient furniture options, further driving the market growth. In conclusion, the Kitchen & Dining Furniture market in South America has experienced steady growth due to customer preferences for modern and stylish designs, trends in open-concept living spaces, local special circumstances related to the region's culinary culture, and underlying macroeconomic factors such as economic growth and urbanization.
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.
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