Contract Furniture and Furnishing Market in Europe to Grow by USD 4.75 Billion (2024-2028), Driven by Rising Popularity, AI Impacting Market Trends - Technavio

NEW YORK, Nov. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The contract furniture and furnishing market in europe size is estimated to grow by USD 4.75 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.1% during the forecast period. Growing popularity of contract furniture among end-users is driving market growth, with a trend towards rising sustainable practices. However, high cost of contract furniture and furnishing poses a challenge.Key market players include Brunner GmbH, C P Mobelsysteme GmbH and Co. KG, Forest Sofa Ltd., Furniture Group, Haworth Inc., HMY Group, Humanscale International Holdings Ltd., Isku Yhtyma Oy, ITOKI Corp., KI, Kinnarps AB, Koninklijke Ahrend BV, MillerKnoll Inc., Ofita SA, Pioneer Contract Furniture Ltd., Sitraben Contract Furniture Ltd., Steelcase Inc., Teknion Group, Verco Office Furniture Ltd., and Vitra International AG.

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Key Market Trends Fueling Growth

The European contract furniture and furnishing market is thriving, with trends in furniture consumption favoring wood, plastic, and metal for office desks, worktops, cabinets, and ergonomic swivel chairs. Ergonomic equipment, including furniture zones, is also in high demand. Domestic businesses seek ergonomic solutions from leading players like Steelcase, while furniture manufacturers focus on their creative capacity to meet the needs of various business areas such as hospitals, retail shops, hospitality sectors, and more. Circular renting models, like NexGen Workspace, are gaining popularity, offering flexible pricing options and instant quotes. Market forecasts indicate continued growth in the commercial office furniture segment, with potential demand for traded products increasing. The premier resource for contract furniture production includes product categories like desks and tables, chairs and stools, and storage cabinets. The purchasing process is streamlined with a new website, and average customer budgets vary by segment. Market shares are dominated by leading players, with product categories including modern furniture, wooden panels, infrastructure, modular furniture, and furnishing products. The distribution channels cater to various segments, including the destination segment, retail segment, hospitality segment, real estate segment, entertainment segment, and marine segment. EMR's research methodology includes a survey of turn-key, soft contract, own product, and traded products, providing valuable insights into the contract furniture industry. Digitalization, smart furniture, and intelligent furniture are also key trends, focusing on staff productivity and workspace optimization. 

The contract furniture and furnishing market in Europe is experiencing significant growth, with high demand for quality wood products such as hardwood, softwood, lumber, and timber. However, this growth comes with environmental concerns. Deforestation, a key contributor to global warming, is a pressing issue due to the high usage of wood in this industry. To mitigate this impact, the adoption of sustainable practices is crucial. Sustainable furniture production involves using eco-friendly materials, ensuring responsible sourcing, and reducing waste. By implementing these practices, the contract furniture and furnishing market in Europe can minimize its environmental footprint and contribute to forest preservation. 

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Market Challenges

• The European contract furniture and furnishing market faces challenges in furniture consumption across various segments including office desks, worktops, cabinets, and ergonomic swivel chairs. Wood, plastic, and metal are popular materials for commercial furniture production. Leading players like Steelcase and furniture manufacturers prioritize ergonomic equipment and creative capacity in workspace solutions. Circular renting models, such as NexGen Workspace, are gaining traction. The furniture market is segmented into commercial office furniture, retail, hospitality, real estate, entertainment, marine, and segments traded products through various distribution channels. Potential demand furniture includes modern furniture, wooden panels, and modular furniture. The purchasing process involves average customer budgets and market forecasts. Market shares show leading players in product categories like desks and tables, chairs and stools, and storage cabinets. Ergonomic equipment, digitalization, smart furniture, and intelligent furniture are trends driving growth. EMR's research methodology covers infrastructure, hospitals, retail shops, hospitality sectors, and the impact of staff productivity. Contract furniture and furnishing market segments include turn-key, soft contract, own product, and traded products. The distribution channels include direct sales, wholesalers, and retailers. The furniture industry is adapting to the changing business areas and consumer preferences.
• Contract furniture and furnishings in Europe offer significant benefits to businesses, including enhanced productivity and aesthetic appeal. However, the high cost associated with these products can hinder frequent purchases for office renovations or infrastructure changes. Commercial-grade furniture is built to last, necessitating higher investment. Despite the advantages, affordability remains a challenge for consumers, potentially impacting the growth of the contract furniture and furnishings market in Europe during the forecast period.

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Segment Overview

This contract furniture and furnishing market in Europe report extensively covers market segmentation by

1. End-user 
• 1.1 Hospitality and food services
• 1.2 Offices and home offices
• 1.3 Retail stores
• 1.4 Institutions
• 1.5 Others
2. Type 
• 2.1 Turnkey contract
• 2.2 Soft contract
3. Geography 
• 3.1 Europe

1.1 Hospitality and food services- The European contract furniture and furnishing market is primarily driven by the hospitality and food services segment. This sector accounts for a significant market share and is anticipated to remain the largest segment throughout the forecast period. In this segment, various sectors such as hotels, resorts, restaurants, cafes, food service chains, tourism companies, event management companies, and media houses utilize contract furniture and furnishing products. Dining furniture, bedroom furniture, storage furniture, kitchen furniture, bathroom furniture, and screens are some of the frequently used products. The growth in the hospitality and food services industry, particularly in restaurants, cafes, and food service chains, is a major factor fueling the demand for contract furniture and furnishing in Europe. Consumer spending on dining out has increased significantly, with dining out in restaurants and hotels accounting for a substantial proportion of total household final consumption expenditure in EU countries, according to the European Commission (EC). Additionally, the expansion of hotels and food service chains in the region has further boosted market growth. For instance, the Old War Office in London is set to open Raffles London, while Oetker Collection plans to open Hotel La Palma, and Mandarin Oriental Lake Lucern is undergoing extensive renovations. The hospitality industry is focusing on personalizing products and experiences to cater to millennial customers' preferences. The ease of accessing furniture through e-commerce platforms offering a wide range of choices has also increased sales. These advantages are expected to boost the adoption of contract furniture and furnishing in the hospitality and food services sector, thereby propelling the growth of the contract furniture and furnishing market in Europe during the forecast period.

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Research Analysis

The European contract furniture and furnishing market is a significant sector, driven by furniture consumption in various industries such as offices, hospitals, schools, and hospitality. Wood, plastic, and metal are the primary materials used in manufacturing office desks, worktops, cabinets, ergonomic swivel chairs, and other furniture zones. Domestic businesses and ergonomic equipment are key trends, with a focus on ergonomic design, digitalization, smart furniture, and intelligent furniture. The purchasing process involves various distribution channels, including Turn-key solutions, retail shops, and direct sales. Market forecasts suggest potential demand for traded products, with average customer budgets influencing market shares. Leading players in the industry include Steelcase and others, with product categories ranging from desks and tables to chairs and stools, storage cabinets, and more. Market growth is driven by factors such as staff productivity, the hospitality sector, and the increasing importance of sustainable and eco-friendly materials.

Market Research Overview

The European contract furniture and furnishing market is a significant sector, driven by furniture consumption in various business areas such as offices, hospitals, retail shops, hospitality sectors, and more. The market comprises furniture made of wood, plastic, and metal, including office desks, worktops, cabinets, and ergonomic swivel chairs. Ergonomic equipment and furniture zones are increasingly popular, focusing on staff productivity and comfort. The market caters to domestic businesses and the premier resource for commercial office furniture, offering a wide range of product categories through various distribution channels. The furniture segment includes leading players like NexGen Workspace, Steelcase, and furniture manufacturers, showcasing their creative capacity in modern furniture design. Circular renting models are gaining traction, with an emphasis on sustainability and cost-effectiveness. New websites provide instant quotes and pricing options for potential customers, allowing for a seamless purchasing process. Market forecasts suggest steady growth, with segments like the retail, hospitality, real estate, entertainment, marine, and healthcare sectors driving demand. The contract furniture production process involves infrastructure for modular furniture and furnishing products, with a focus on turn-key and soft contract solutions. Wooden panels, ergonomic swivel chairs, desks and tables, chairs and stools, and storage cabinets are among the traded products. EMR's research methodology includes surveys and analysis of market shares, product categories, and distribution channels. Digitalization is transforming the industry, with smart furniture and intelligent furniture solutions enhancing workspace efficiency and productivity. Average customer budgets vary across segments, with market leaders continually adapting to meet diverse demands.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Hospitality And Food Services
• Offices And Home Offices
• Retail Stores
• Institutions
• Others
• Type
• Turnkey Contract
• Soft Contract
• Geography
• Europe

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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