Home Office Furniture - EU-27

EU-27

In the year 2024, the Home Office Furniture market in the EU-27 recorded a revenue of €12.41bn.
It is projected to have an annual growth rate of 2.51% (CAGR 2024-2029).
The United States leads the global market with a revenue of €17,540m in 2024.
When comparing revenue per person, the EU-27 generates €27.73 per capita in 2024.
Germany is experiencing a surge in demand for ergonomic home office furniture, driven by the country's strong emphasis on workplace health and safety.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Home Office Furniture market in eu-27 is witnessing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences: play a crucial role in driving the growth of the Home Office Furniture market in eu-27. With the increasing trend of remote working and flexible work arrangements, more individuals are setting up home offices. As a result, there is a growing demand for ergonomic and functional home office furniture that can enhance productivity and create a comfortable working environment. Customers are also seeking furniture that is aesthetically pleasing and complements their home decor.

Trends in the market: further contribute to the development of the Home Office Furniture market in eu-27. One notable trend is the rising popularity of multifunctional furniture. As space becomes a constraint in many homes, customers are looking for furniture that can serve multiple purposes. For example, a desk that can be easily converted into a dining table or a storage unit that doubles as a seating area. This trend not only maximizes the utility of the furniture but also appeals to customers' desire for versatility and efficiency. Another trend in the market is the increasing adoption of sustainable and eco-friendly materials. Customers are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from renewable resources and with minimal carbon footprint. This trend is driving manufacturers to explore innovative materials and production processes that align with sustainability goals. Additionally, customers are also willing to pay a premium for eco-friendly furniture, further driving market growth.

Local special circumstances: also contribute to the development of the Home Office Furniture market in eu-27. Each country within the eu-27 has its own unique cultural and economic factors that influence customer preferences and market dynamics. For example, countries with a higher proportion of remote workers or self-employed individuals may have a stronger demand for home office furniture compared to countries with a higher concentration of traditional office-based employment. Additionally, factors such as urbanization, population density, and housing affordability also impact the size and growth potential of the market in each country.

Underlying macroeconomic factors: also play a significant role in shaping the Home Office Furniture market in eu-27. Economic stability, income levels, and consumer confidence all influence the willingness and ability of customers to invest in home office furniture. Moreover, government policies and regulations related to remote working and flexible work arrangements can also impact the market. For example, supportive policies that encourage remote working can lead to a higher demand for home office furniture. In conclusion, the Home Office Furniture market in eu-27 is experiencing growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As remote working becomes more prevalent and customers seek functional, versatile, and sustainable furniture, the market is expected to continue its positive trajectory.

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.