Living Room Furniture - Benelux | Statista Market Forecast

In the year 2024, the Living Room Furniture market in Benelux is projected to generate a revenue of US$4.20bn.
It is anticipated that this market will experience an annual growth rate of 1.57% (CAGR 2024-2029).
When comparing this market to the global scale, United States stands out as the country generating the highest revenue, amounting to US$73bn in 2024.
Taking into account the population figures, the per person revenue in Benelux is estimated to be US$139.80 in 2024.
This indicates the economic significance of the Living Room Furniture market in the region.
Demand for modern and minimalist living room furniture is on the rise in the Benelux countries, reflecting the region's preference for sleek and functional designs.

Definition:

This Living Room Furniture segment refers to movable objects that are designed to be used in a living room, which is typically a central and multi-functional space in a home. It includes items that are intended to make the room more comfortable and functional, such as seating, tables, and storage unts (e.g., TV stands, console tables, etc.)

Structure:

The Living Room Furniture segment is divided into two subsegments:

The Seats & Sofas subsegment refers to furniture designed for sitting, lounging, or reclining, and typically includes items such as sofas, armchairs, recliners, and ottomans.
The Cabinets, TV Stands, & Side Tables subsegment refers to furniture items that are designed to store or hold various objects such as media equipment, drinks, books, or lamps.

Additional Information:

The Living Room 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.

Sofas and armchairs, dining chairs
Bar tables and chairs, stools, and benches
Coffee, console, and side tables
TV and media furniture

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Living Room Furniture market in Benelux is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors.

Customer preferences: Customers in Benelux are increasingly looking for living room furniture that combines functionality with style. They prefer furniture that is not only comfortable but also aesthetically pleasing, with clean lines and modern designs. Additionally, there is a growing demand for furniture that is eco-friendly and sustainable, as customers are becoming more conscious of their environmental impact.

Trends in the market: One of the key trends in the Living Room Furniture market in Benelux is the rising popularity of modular furniture. Modular furniture allows customers to customize their living room layout according to their specific needs and preferences. This flexibility appeals to customers who want to make the most of their living space and have the ability to rearrange furniture as needed. Another trend in the market is the increasing demand for multifunctional furniture. As living spaces in Benelux tend to be smaller, customers are looking for furniture that serves multiple purposes, such as sofa beds or storage ottomans.

Local special circumstances: Benelux countries, Belgium, Netherlands, and Luxembourg, have a high standard of living and a culture that values quality and design. This has contributed to the demand for high-quality living room furniture that is both durable and visually appealing. Additionally, the region has a strong tradition of craftsmanship, which has led to the production of handmade furniture that is highly valued by customers.

Underlying macroeconomic factors: The Living Room Furniture market in Benelux is also influenced by underlying macroeconomic factors. The stable economic growth in the region has resulted in increased disposable income, allowing customers to invest in higher-quality furniture. Furthermore, the low interest rates in the region have made it more affordable for customers to finance their purchases. The Benelux countries also have a high homeownership rate, which has contributed to the demand for furniture as homeowners seek to furnish and decorate their living spaces.

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.