Furniture - Southern Europe

Southern Europe

In 2024, the revenue in the Furniture market in Southern Europe amounts to US$40.29bn.
It is projected to experience an annual growth rate of 1.45% (CAGR 2024-2029).
The largest segment in this market is the Living Room Furniture segment, which has a market volume of US$8.80bn in 2024.
When compared globally, in the United States generates the highest revenue in this market, with US$263bn in 2024.
In terms of per capita revenue, in Southern Europe generates US$170.20 per person in 2024.
The furniture market in Southern Europe is experiencing a surge in demand for traditional, handcrafted pieces, reflecting the region's rich cultural heritage.

Key regions: Worldwide, United States, China, India, Germany

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:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Southern Europe has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Furniture market have shifted towards more modern and contemporary designs, as well as a greater emphasis on functionality and space-saving solutions. Consumers are increasingly looking for furniture that can adapt to smaller living spaces and provide multifunctional uses. This trend is driven by urbanization and the rising cost of housing in many Southern European countries. Additionally, there is a growing demand for sustainable and eco-friendly furniture, as consumers become more conscious of the environmental impact of their purchases. One of the key trends in the Furniture market in Southern Europe is the increasing popularity of online shopping. e-commerce has become a preferred channel for consumers to purchase furniture, offering convenience, a wider range of options, and competitive pricing. This trend has been accelerated by the covid-19 pandemic, as more people turned to online shopping during lockdowns and restrictions. As a result, traditional brick-and-mortar stores are facing challenges and are adapting their strategies to include online platforms. Another trend in the Furniture market is the rise of customization and personalization. Consumers are seeking unique and personalized furniture pieces that reflect their individual style and taste. This trend is driving the demand for customizable furniture options, where customers can choose the materials, colors, and finishes of their furniture. This trend is also influenced by the growing popularity of interior design and home renovation shows, which inspire consumers to create their own personalized living spaces.

Local special circumstances: also play a role in shaping the Furniture market in Southern Europe. For example, countries like Italy and Spain have a rich heritage in furniture craftsmanship and design, which gives them a competitive advantage in the market. These countries are known for their high-quality and luxurious furniture products, attracting both domestic and international customers. Additionally, Southern European countries have a strong tradition of family-owned furniture businesses, which often prioritize craftsmanship and attention to detail. Underlying macroeconomic factors also contribute to the development of the Furniture market in Southern Europe. Economic growth, rising disposable incomes, and low interest rates have increased consumer spending power, leading to higher demand for furniture products. Furthermore, government initiatives and incentives to promote the housing market and home renovations have also stimulated the Furniture market. For example, tax incentives for home improvements and renovations encourage consumers to invest in new furniture. In conclusion, the Furniture market in Southern Europe is experiencing growth due to changing customer preferences, emerging trends such as online shopping and customization, local special circumstances, and

Underlying macroeconomic factors:. The market is expected to continue to evolve and adapt to meet the evolving needs and preferences of consumers in the region.

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.