According to the Graphical Research new growth forecast report titled “Europe Wooden Furniture Market size will surpass USD 125 billion by 2026”. The increasing adoption of aesthetic products in homes is primarily augmenting the demand for wooden furniture in Europe.
The shifting trend among consumers from aluminum chairs to comfortable wooden furniture over the years has fueled the Europe wooden furniture market growth. Design & product innovations supported by a stimulating furniture demand are propelling the wooden furniture industry expansion. Rising furniture consumption has forced producers to expand their design & product contributions in indoor and outdoor segments. Producers are concentrating on enhancing their market stake by improving distribution frequency coupled with portfolio expansion. Key distribution channels of the wooden furniture market include DIY outlets, modern furniture shops, furniture & home décor retailers, and e-commerce stores. The penetration of e-commerce in the furniture market is stimulating wooden furniture sales in the region. Higher discounts, product variety, and reduced delivery time are the key factors propelling business growth through online stores. The revenue of retail stores is majorly driven by large-item purchases, dining sets, and sofas.
Furthermore, the rising demand for high-end wooden furniture amongst senior citizens, particularly in European countries, is fueling business revenues. The aging population along with a better purchasing power of this age group, particularly in developed economies, will boost the outdoor market growth. In Europe, Italy and Germany have the largest shares of senior citizens. European countries will witness a larger count of aged population along with large disposable incomes, which are expected to boost the market size by 2026.
Wooden materials have lower durability in extreme weather, such as winter and rainy seasons, as dew and water can harm the wooden furniture. This factor can be a key restraint in the development of the Europe wooden furniture market by 2026.
The Europe market from the commercial segment is estimated to observe an industry share of over 30% by 2026. Wooden furniture in the commercial segment is generally used in several areas including hotels, open restaurants, schools, resorts, colleges, hospitals, and public parks. Enhanced designing capabilities offered by wood along with the availability of multiple shapes will support the segment proliferation in the coming years. Industry participants are continuously innovating their product portfolio to attract consumers and differentiate from the products of competitors.
The foremost market players operating in the Europe wooden furniture market are Century Furniture, Ashley Furniture Industries, Bernhardt Furniture Company, Bassett Furniture Industries, Inc., Doimo, Dorel Industries, Inc., Avy Interior Limited Company, Casta, Bush Industries, Inc.., Moc Furniture, Hooker Furniture Corporation, IKEA Systems B.V., Ethan Allen Global, Inc., and Hafele.
The Europe wooden furniture market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2016 to 2026 for the following segments:
Wooden Furniture Market, By Application
- Upholstered furniture
- Non-upholstered furniture
- Kitchen cabinet
- Dining room
The above information is provided on a country basis for the following: