Market Size of Europe High-End Furniture Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 3.20 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Europe High-End Furniture Market Analysis
The European high-end furniture is one of the largest and growing segments in the furniture industry which is hit hard by the COVID-19 pandemic. The market has experienced a constant year-on-year growth rate during the review period (2017-2020) which was a sudden drop during 2020 due to the outbreak of the virus.
European high-end furniture especially the Italian, French manufacturers have a great reputation around the world owing to their high creative capacity for new designs combined with the standard of high-quality and responsiveness to new demands. The industry has also been able to combine several new technologies and innovations with its rich cultural heritage and style, which drove the segments to several international markets and provides jobs for highly skilled workers.
High-end furniture products made in Europe are gaining more significance year on year. The region is also a world leader in this high-end segment of the furniture market with nearly two out of three high-end furniture products sold in the world are produced in the European Union (EU). However, the growing competition and the competitive pricing offered by the different manufacturers is challenging the market to expand certain regions where the production costs are comparatively low. Owing to the growing China's penetration into the EU region, the country is becoming the largest furniture exporter to the EU, and is accounting for over a half of total furniture imports to the region.
Europe High-End Furniture Industry Segmentation
A complete background analysis of the Europe High-end furniture market, which includes an assessment of the emerging trends by segments, significant changes in market dynamics, and market overview, is covered in the report. The Europe High-end furniture market is segmented by Product into Seating Products (Chairs, Armchairs, Sofas), Cabinets and Entertainment Units, Tables into Dining Tables, Reception Tables, etc.,), Beds and Other Products, by Distribution Channel into Designer Studios, Furniture Specialty Stores, Online and Other Distribution Channels), by End-User into Residential and Commercial, and by Geography into Germany, Italy United Kingdom, France, and the Rest of Europe. The report offers market size and forecasts for the Europe High-end furniture market, in value (USD million) for all the above segments.
By Product | |
Seating Products (Chairs, Armchairs, Sofas) | |
Cabinets and Entertainment Units | |
Tables (Dining Tables, Reception Tables, etc.,) | |
Beds | |
Other Products |
By Distribution Channel | |
Designer Studios | |
Furniture Specialty Stores | |
Online | |
Other Distribution Channels |
By End-User | |
Residential | |
Commercial |
By Geography | |
Germany | |
Italy | |
United Kingdom | |
France | |
Rest of Europe |
Europe High-End Furniture Market Size Summary
The European high-end furniture market is a significant and expanding segment within the global furniture industry, despite the challenges posed by the COVID-19 pandemic. Renowned for its creative design and high-quality standards, particularly from Italian and French manufacturers, the region has successfully integrated new technologies and innovations with its rich cultural heritage. This blend has enabled European high-end furniture to penetrate international markets, providing employment for skilled workers. The European Union stands as a global leader in this segment, producing a substantial portion of the world's high-end furniture. However, the market faces challenges from increasing competition and competitive pricing from manufacturers in regions with lower production costs. Additionally, China's growing presence as a major furniture exporter to the EU is reshaping the competitive landscape.
The demand for high-end furniture, particularly seating products like chairs, armchairs, and sofas, is on the rise, driven by increased consumer spending and a higher standard of living across Europe. These products are favored for their ability to enhance the aesthetics and comfort of spaces such as living rooms, lobbies, and reception areas in both residential and commercial settings. The hospitality industry's recovery post-pandemic is expected to further boost the commercial end-user segment, which has been a significant driver of market transactions. The market's growth is propelled by manufacturers' focus on creating innovative and elegant furniture designs to meet the evolving demands of consumers. Key players in the market continue to showcase exclusive collections and installations, highlighting the ongoing commitment to luxury and sophistication in furniture design.
Europe High-End Furniture Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints/Challenges
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1.4 Market Opportunities
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1.5 Value Chain / Supply Chain Analysis
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1.6 Porter's Five Force Analysis
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1.7 Consumer Behaviour Analysis
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Seating Products (Chairs, Armchairs, Sofas)
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2.1.2 Cabinets and Entertainment Units
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2.1.3 Tables (Dining Tables, Reception Tables, etc.,)
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2.1.4 Beds
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2.1.5 Other Products
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2.2 By Distribution Channel
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2.2.1 Designer Studios
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2.2.2 Furniture Specialty Stores
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2.2.3 Online
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2.2.4 Other Distribution Channels
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2.3 By End-User
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2.3.1 Residential
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2.3.2 Commercial
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2.4 By Geography
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2.4.1 Germany
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2.4.2 Italy
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2.4.3 United Kingdom
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2.4.4 France
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2.4.5 Rest of Europe
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Europe High-End Furniture Market Size FAQs
What is the current Europe High-End Furniture Market size?
The Europe High-End Furniture Market is projected to register a CAGR of greater than 3.20% during the forecast period (2024-2029)
Who are the key players in Europe High-End Furniture Market?
Essential Home, Roche Bobois, Duresta Upholstery Ltd, Poltrona Frau S.p.a and Giovanni Visentin S.R.L are the major companies operating in the Europe High-End Furniture Market.