Home furnishings market in Europe to grow at a CAGR of 6.46% from 2022 to 2027: Growth of the real estate and construction industry to drive market growth - Technavio

NEW YORK, May 8, 2023 /PRNewswire/ -- The size of the home furnishings market in Europe is estimated to grow by USD 171.19 billion from 2022 to 2027, with a CAGR of 6.46%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report - Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The bargaining power of buyers & suppliers and the threat of new entrants, rivalry, and substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's exclusive analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below -

• Andrena Funriture Ltd.
• 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
• LuxuryfurnitureMR
• Nolte GmbH and Co. KGaA
• Poltrona Frau SPA
• ROCHE BOBOIS SA
• SOFACOMPANY
• Steve Bristow Stone Masonry Ltd.
• The Cotswold Co. UK Ltd.
• Wayfair Inc.
• Wicklewood Ltd.

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Chart & data table on 5-year historic (2017-2021) market size, comparative analysis of segments, and y-o-y growth of the home furnishings market in Europe

• The market is segmented by distribution channel (offline and online) and product (home furniture, home textiles, and floor coverings)
• The offline segment will account for a significant share of market growth during the forecast period. This segment mainly comprises specialty stores, home decor chains, and convenience stores. Specialty stores offer a diverse brand and product portfolio, with popular brands of home furnishings. Their product offerings are limited to their own category and similar types of products in all stores. Home decor chains offer a wide range of merchandise as well as seasonal discounts. Convenience stores offer a variety of daily essentials. Manufacturers of home furnishing products can expand their customer base by leveraging the popularity of these retailers. These factors will drive the growth of this segment during the forecast period.

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Market dynamics

Driver - The growth of the real estate and construction industry is driving the growth of the home furnishings market in Europe. The number of office spaces, commercial establishments, and residences is increasing in Europe, thereby fueling the demand for furniture. The rise in number of single- and two-person households has led to an increase in housing construction. The longevity of baby boomers, rapid urbanization, and the lifestyle choices of millennials are increasing the demand for custom furniture. This, in turn, has fueled the growth of the home textile market in Europe. Moreover, there is a high demand for portable and compact furniture in the region due to a lack of space in urban areas, which is increasing the demand for multifunctional furniture. Therefore, the expanding real estate business and the revival of the construction industry will drive the growth of the home furnishings market in Europe.

Trend - The increase in the adoption of eco-friendly furniture is a key trend in the market. Concerns regarding climate change have led to the adoption of eco-friendly furniture. Various suppliers are involved in the production of this type of furniture. Biodegradable, sustainable, and renewable raw materials, such as North American hardwoods and bamboo, are used for the production of eco-friendly furniture. Some of the popular manufacturers of eco-friendly organic furniture in Europe include Alta Decoracion ArtesMoble SL and Vermont Woods Studios LLC. Therefore, the rapid emergence of eco-friendly organic furniture will support market growth during the forecast period. 

Challenge - The cost challenges faced by manufacturers and vendors are challenging market growth. High transportation costs raise manufacturing costs and limit the operations of furniture manufacturers and retailers. Transporting raw materials such as wood is complex, and assembling furniture further increases the cost of the final product. Transportation costs generally include costs associated with shipping and are generally borne by the business operator. Moreover, sellers have to pay taxes, duties, and fuel costs, which directly increase the cost of the final product. Rising raw material and labor costs further increase the overall manufacturing cost of furniture. These factors negatively impact product sales and vendor revenues, which will impede the growth of the market during the forecast period. 

For more key insights on the market dynamics & segmentations, view a PDF sample!

Related Reports:

The global home furniture market size is estimated to grow by USD 105.01 million between 2022 and 2027 at a CAGR of 5.34%. This report extensively covers market segmentation by distribution channel (offline and online), product (living room furniture, bedroom furniture, storage furniture, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The online home decor market size is expected to increase by USD 58.99 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.92%. Furthermore, this report extensively covers segmentation by product (online home furniture, online home furnishings, and other online home decorative products) and geography (Europe, North America, APAC, South America, and Middle East and Africa).

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What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home furnishings market in Europe between 2023 and 2027
• Precise estimation of the size of the home furnishings market in Europe and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the home furnishings market in Europe across Europe
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of home furnishings market vendors in Europe

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Europe: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)

4 Historic Market Size

• 4.1 Home furnishings market in Europe 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Home furnishings market in Europe 2017 - 2021 ($ billion)

• 4.2 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 22: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 29: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 30: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 31: Chart on Comparison by Distribution Channel
• Exhibit 32: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 41: Market opportunity by Distribution Channel ($ billion)
• Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 43: Chart on Product - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Home furniture - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Home furniture - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Home furniture - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Home furniture - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Home furniture - Year-over-year growth 2022-2027 (%)

• 7.4 Home textiles - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Home textiles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Home textiles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Home textiles - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Home textiles - Year-over-year growth 2022-2027 (%)

• 7.5 Floor coverings - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Floor coverings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Floor coverings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Floor coverings - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Floor coverings - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ billion)
• Exhibit 60: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 62: Chart on Market share by geography - 2022-2027 (%)
• Exhibit 63: Data Table on Market share by geography - 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 64: Chart on Geographic comparison
• Exhibit 65: Data Table on Geographic comparison

• 9.3 Germany - Market size and forecast 2022-2027 
• Exhibit 66: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 69: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.4 UK - Market size and forecast 2022-2027 
• Exhibit 70: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 73: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.5 Italy - Market size and forecast 2022-2027 
• Exhibit 74: Chart on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Data Table on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 77: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.6 France - Market size and forecast 2022-2027 
• Exhibit 78: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 81: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.7 Rest of EU - Market size and forecast 2022-2027 
• Exhibit 82: Chart on Rest of EU - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Data Table on Rest of EU - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Chart on Rest of EU - Year-over-year growth 2022-2027 (%)
• Exhibit 85: Data Table on Rest of EU - Year-over-year growth 2022-2027 (%)

• 9.8 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ billion)
• Exhibit 87: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 88: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 89: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 90: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 91: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 92: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 93: Matrix on vendor position and classification

• 12.3 Andrena Funriture Ltd. 
• Exhibit 94: Andrena Funriture Ltd. - Overview
• Exhibit 95: Andrena Funriture Ltd. - Product / Service
• Exhibit 96: Andrena Funriture Ltd. - Key offerings

• 12.4 B and B Italia SPA
• Exhibit 97: B and B Italia SPA - Overview
• Exhibit 98: B and B Italia SPA - Product / Service
• Exhibit 99: B and B Italia SPA - Key offerings

• 12.5 DEDON GmbH
• Exhibit 100: DEDON GmbH - Overview
• Exhibit 101: DEDON GmbH - Product / Service
• Exhibit 102: DEDON GmbH - Key offerings

• 12.6 Delcor Ltd.
• Exhibit 103: Delcor Ltd. - Overview
• Exhibit 104: Delcor Ltd. - Product / Service
• Exhibit 105: Delcor Ltd. - Key offerings

• 12.7 DFS Furniture PLC
• Exhibit 106: DFS Furniture PLC - Overview
• Exhibit 107: DFS Furniture PLC - Business segments
• Exhibit 108: DFS Furniture PLC - Key offerings
• Exhibit 109: DFS Furniture PLC - Segment focus

• 12.8 Dunelm Group Plc
• Exhibit 110: Dunelm Group Plc - Overview
• Exhibit 111: Dunelm Group Plc - Product / Service
• Exhibit 112: Dunelm Group Plc - Key offerings

• 12.9 Forbo Management SA
• Exhibit 113: Forbo Management SA - Overview
• Exhibit 114: Forbo Management SA - Business segments
• Exhibit 115: Forbo Management SA - Key offerings
• Exhibit 116: Forbo Management SA - Segment focus

• 12.10 Hafren Furnishers Ltd. 
• Exhibit 117: Hafren Furnishers Ltd. - Overview
• Exhibit 118: Hafren Furnishers Ltd. - Product / Service
• Exhibit 119: Hafren Furnishers Ltd. - Key offerings

• 12.11 Inter IKEA Holding BV 
• Exhibit 120: Inter IKEA Holding BV - Overview
• Exhibit 121: Inter IKEA Holding BV - Product / Service
• Exhibit 122: Inter IKEA Holding BV - Key news
• Exhibit 123: Inter IKEA Holding BV - Key offerings

• 12.12 LLG AS
• Exhibit 124: LLG AS - Overview
• Exhibit 125: LLG AS - Product / Service
• Exhibit 126: LLG AS - Key offerings

• 12.13 LuxuryfurnitureMR
• Exhibit 127: LuxuryfurnitureMR - Overview
• Exhibit 128: LuxuryfurnitureMR - Product / Service
• Exhibit 129: LuxuryfurnitureMR - Key offerings

• 12.14 ROCHE BOBOIS SA
• Exhibit 130: ROCHE BOBOIS SA - Overview
• Exhibit 131: ROCHE BOBOIS SA - Product / Service
• Exhibit 132: ROCHE BOBOIS SA - Key offerings

• 12.15 SOFACOMPANY
• Exhibit 133: SOFACOMPANY - Overview
• Exhibit 134: SOFACOMPANY - Product / Service
• Exhibit 135: SOFACOMPANY - Key offerings

• 12.16 Wayfair Inc.
• Exhibit 136: Wayfair Inc. - Overview
• Exhibit 137: Wayfair Inc. - Business segments
• Exhibit 138: Wayfair Inc. - Key news
• Exhibit 139: Wayfair Inc. - Key offerings
• Exhibit 140: Wayfair Inc. - Segment focus

• 12.17 Wicklewood Ltd.
• Exhibit 141: Wicklewood Ltd. - Overview
• Exhibit 142: Wicklewood Ltd. - Product / Service
• Exhibit 143: Wicklewood Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 144: Inclusions checklist
• Exhibit 145: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 146: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 147: Research methodology
• Exhibit 148: Validation techniques employed for market sizing
• Exhibit 149: Information sources

• 13.5 List of abbreviations 
• Exhibit 150: List of abbreviations

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