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Living Room Furniture - Southern Europe

Southern Europe
  • In Southern Europe, the Living Room Furniture market in 2024 brings in a revenue of US$8.80bn.
  • According to projections, the market is set to experience an annual growth rate of 0.91% (CAGR 2024-2029).
  • When compared on a global scale, United States generates the highest revenue in this segment, reaching US$73bn in 2024.
  • Looking at the per capita figures, in 2024, each person in Southern Europe contributes US$37.18 in revenue towards the Living Room Furniture market.
  • The demand for traditional wooden furniture is on the rise in Southern Europe, as consumers in countries like Italy and Spain prioritize classic designs and craftsmanship for their living rooms.

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.

In-Scope

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

Out-Of-Scope

  • Consumer electronics
  • Household appliances
  • Lamps and lighting
  • Floor covering
Living Room Furniture: market data & analysis - Cover

Market Insights report

Living Room Furniture: market data & analysis

Study Details

    Revenue

    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

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Living Room Furniture market in Southern Europe has been experiencing significant 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 the Living Room Furniture market have shifted towards more modern and contemporary styles. Customers in Southern Europe are increasingly looking for furniture that is sleek, minimalist, and functional. This preference for modern designs is driven by a desire for a clean and uncluttered living space, as well as a desire to keep up with global design trends. Additionally, there is a growing demand for furniture that is eco-friendly and sustainable, reflecting a broader societal shift towards more environmentally conscious consumption.

    Trends in the market:
    have also played a role in the growth of the Living Room Furniture market in Southern Europe. One notable trend is the increasing popularity of online shopping. Customers are now able to browse and purchase furniture from the comfort of their own homes, which has led to a significant increase in online sales. This trend has been further accelerated by the covid-19 pandemic, as more people have turned to online shopping due to social distancing measures and lockdowns. Another trend is the rise of customization options. Customers are increasingly looking for furniture that is tailored to their specific needs and preferences, and companies are responding by offering a wide range of customization options, from choosing the color and fabric to selecting the size and configuration of the furniture.

    Local special circumstances:
    have also influenced the development of the Living Room Furniture market in Southern Europe. One such circumstance is the high level of homeownership in the region. Southern Europeans have a strong preference for owning their own homes, which has led to a steady demand for furniture. Additionally, the region has a rich cultural heritage and a tradition of craftsmanship, which has resulted in a strong domestic furniture industry. Customers in Southern Europe often value locally made furniture for its quality and craftsmanship, and this has contributed to the growth of the domestic market.

    Underlying macroeconomic factors:
    have also played a role in the development of the Living Room Furniture market in Southern Europe. The region has experienced a period of economic recovery in recent years, following the global financial crisis. As disposable incomes have increased, customers have been able to spend more on furniture and home decor. Additionally, low interest rates have made it easier for customers to finance large purchases, such as furniture. Finally, the growth of the tourism industry in Southern Europe has also had a positive impact on the Living Room Furniture market. The influx of tourists has led to an increase in demand for rental properties and vacation homes, which in turn has driven demand for furniture. In conclusion, the Living Room Furniture market in Southern Europe has experienced significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and contemporary styles, the rise of online shopping, the demand for customization options, the high level of homeownership, the tradition of craftsmanship, the economic recovery, low interest rates, and the growth of the tourism industry have all contributed 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 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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    Living Room Furniture: market data & analysis - BackgroundLiving Room Furniture: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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