Europe's Home Furnishings Market to Grow by USD 171.19 bn through 2023-2027
The home furnishings market size in Europe is estimated to grow at a CAGR of 6.46% between 2022 and 2027 with a forecast to increase by USD 171.19 billion. Determinants of this growth of the market depend on several factors, including the growth of the real estate and construction industry, the rising demand for luxury furniture, and the growth of organized retail.
Europe's Home Furnishings Market growth is getting fueled by the growth of the real estate industry. Increasing demand for office spaces, commercial establishments, and residences in Europe is triggering the growth of the real estate industry which in turn is fueling the growth of the Home Furnishing Market.
Increasing urbanization, the longevity of baby boomers, and the lifestyle choices of millennials all contribute to the increasing demand for custom furniture as well. Space Constrain in urban areas, the demand for multifunctional furniture is also increasing. Thus having a significant impact on the growth of the European furniture market.
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In addition, as per current trends, the adoption of eco-friendly furniture is also rising European home furniture market to develop eco-friendly furniture with eco-friendly technology that is biodegradable, sustainable, and renewable raw materials.
Vendors are capitalizing on growth opportunities through various strategic measures. Prominent market players are constantly innovating new product designs to enhance their market presence with more focus on growth prospects. Market Players worth mentioning in this industry are B and B Italia SPA, DEDON GmbH, Delcor Ltd., DFS Furniture PLC, Dunelm Group Plc, Ercol Furniture Ltd., Forbo Management SA, Hafren Furnishers Ltd., Inter IKEA Holding BV, LLG AS.
For instance, Andrena Furniture Ltd offers different home furnishing products such as cabinets, bookcases, tables, chairs, wardrobes, oval extending tables, and many more.
Similarly, Alta Decoracion ArtesMoble SL and Vermont Woods Studios LLC are Europe's most popular manufacturers of eco-friendly organic furniture. There has also been market growth in the eco-friendly and organic furniture category fueled by awards and recognition. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem
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