Definition:
The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.
Structure:
The Furniture market is divided into seven segments:
Additional Information:
The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market 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: Mar 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
The Furniture market in nafta is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the Furniture market in nafta.
Customer preferences: play a crucial role in driving the growth of the Furniture market in nafta. Consumers in this region value quality, durability, and aesthetics when it comes to furniture. They are willing to invest in well-crafted and long-lasting pieces that enhance the overall look and feel of their homes. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as consumers become more conscious of their environmental impact. This shift in customer preferences has led to an increase in the production and availability of eco-friendly furniture in the nafta region.
Trends in the market: also contribute to the development of the Furniture market in nafta. One notable trend is the rise of online furniture shopping. With the advancement of technology and the convenience it offers, more consumers are opting to purchase furniture online. This trend has led to the growth of e-commerce platforms specializing in furniture sales, as well as the expansion of traditional brick-and-mortar retailers into the online space. Additionally, there is a growing demand for multi-functional furniture, particularly in urban areas where space is limited. This trend has led to the development of innovative furniture designs that maximize functionality without compromising on style.
Local special circumstances: further contribute to the growth of the Furniture market in nafta. The region has a large and diverse population, with varying tastes and preferences. This diversity creates a vibrant market where furniture manufacturers and retailers can cater to different customer segments. Additionally, the presence of a strong manufacturing base in the nafta region allows for the production of high-quality furniture at competitive prices. This enables local businesses to meet the demands of both domestic and international customers.
Underlying macroeconomic factors: also play a significant role in the development of the Furniture market in nafta. Economic stability and rising disposable incomes have increased consumer spending power, allowing individuals to invest in furniture for their homes. Furthermore, favorable trade agreements within the nafta region have facilitated the flow of goods and services, including furniture, across borders. This has created opportunities for furniture manufacturers and retailers to expand their market reach and tap into new customer bases. Overall, the Furniture market in nafta is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The region's diverse population, coupled with changing consumer preferences, has created a dynamic market where furniture manufacturers and retailers can thrive. Additionally, the rise of online furniture shopping and the demand for eco-friendly and multi-functional furniture have further fueled the growth of the market. With a strong manufacturing base and favorable trade agreements, the Furniture market in nafta is poised for continued expansion 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