Living Room Furniture - Greece

Greece

In Greece, the revenue in the Living Room Furniture market reaches US$304.40m in 2024.
It is projected that the market will experience an annual growth rate of 2.01% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads the market with a revenue of US$73,080m in 2024.
Taking into account the total population, the per person revenues in Greece amount to US$29.54 in 2024.
The demand for traditional Greek-style living room furniture has been steadily increasing among domestic consumers in Greece.

Key regions: China, Germany, Brazil, France, United States

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Analyst Opinion

The Living Room Furniture market in Greece has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Living Room Furniture market in Greece have shifted towards more modern and minimalist designs. Consumers are increasingly looking for furniture that is sleek, functional, and space-saving. This trend is in line with global preferences, as people are opting for smaller living spaces and seeking furniture that can maximize their limited space. Additionally, there is a growing demand for eco-friendly and sustainable furniture, as Greek consumers are becoming more conscious of the environmental impact of their purchases. One of the key trends in the Living Room Furniture market in Greece is the rising popularity of online shopping. With the increasing penetration of internet and smartphones, consumers are now able to browse and purchase furniture from the comfort of their homes. Online retailers offer a wide range of options, competitive prices, and convenient delivery services, making it an attractive option for busy consumers. This trend is not unique to Greece, as online furniture shopping is gaining traction worldwide. Another trend in the Living Room Furniture market in Greece is the growing demand for multifunctional furniture. As living spaces become smaller, consumers are looking for furniture that can serve multiple purposes. For example, sofa beds, coffee tables with storage, and modular furniture that can be rearranged to fit different spaces are becoming increasingly popular. This trend is driven by the need to maximize space and create versatile living areas.

Local special circumstances: also play a role in the development of the Living Room Furniture market in Greece. The country has a rich cultural heritage and a strong tradition of craftsmanship. Greek consumers appreciate high-quality furniture that is made locally and reflects their cultural identity. This preference for locally-made products has contributed to the growth of domestic furniture manufacturers and artisans. Underlying macroeconomic factors have also influenced the Living Room Furniture market in Greece. The country has been recovering from a severe economic crisis, and as the economy improves, consumer confidence and purchasing power have increased. This has led to a higher demand for furniture as consumers are more willing to invest in their homes. Additionally, low interest rates and government incentives for home renovations have also stimulated the market. In conclusion, the Living Room Furniture market in Greece is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and minimalist designs, the rise of online shopping, the demand for multifunctional furniture, the preference for locally-made products, and the recovering economy are all contributing to the development of the market.

Methodology

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.