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Europe Wooden Furniture Market - By Product Type (Indoor furniture, Outdoor furniture), By Price Range (Low, Medium, High), By Wood Type, By Application, By Distribution Channel, By Region, Forecast 2024 – 2032
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Europe Wooden Furniture Market
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 160
Countries covered: 21
Pages: 250
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Europe Wooden Furniture Market Size
Europe Wooden Furniture Market size was valued at USD 42.4 billion in 2023 and is estimated to grow at a CAGR of 3.3% from 2024 to 2032 driven by the rising demand for wooden furniture across residential areas and increased spending on home improvement projects.
According to Eurostat, spending on home improvement in the European Union reached €300 billion in 2023, showing a significant increase from previous years. Homeowners are spending more on renovations due to high interest rates and persistent inflation, covering costs from flooring to furnishings. In addition, Urbanization and the surge in new housing projects are driving up the demand for furniture, especially wooden furniture, as an increasing number of homes and apartments need furnishing. This demand is especially pronounced in swiftly expanding urban locales, where new residential projects are the norm. According to Eurostat, the urban population in the European Union increased by 2.4% from 2015 to 2020, further fueling the need for residential furnishings.
Furthermore, rising disposable incomes allow consumers to buy premium and designer wooden furniture, improving their living spaces with high-quality, attractive pieces. Government initiatives and regulations also support market growth by promoting sustainable forestry and eco-friendly manufacturing. For example, the European Green Deal aims to make Europe climate-neutral by 2050, encouraging eco-friendly practices.
Consumer preferences in the wooden furniture manufacturing industry are changing rapidly, creating challenges for manufacturers. Consumers now want products that match their specific needs and tastes, which can change quickly, making it hard for manufacturers to keep up with trends.
Europe Wooden Furniture Market Trends
New woodworking technology has greatly improved the quality and design of wooden furniture, making it more attractive to buyers. These improvements allow for precise work, creative designs, and strong, high-quality pieces. Also, the trend of custom and personalized furniture is boosting demand for unique wooden pieces made to fit individual tastes and needs. More consumers want unique, custom pieces that show their personal style and fit well in their homes, driving market growth. A survey by Furniture Today found that 60% of consumers are willing to pay more for customized furniture, further validating this trend.
Europe Wooden Furniture Market Analysis
Based on product type, the market can be segmented into indoor furniture and outdoor furniture. Indoor furniture dominated the market, accounting for USD 35.0 billion in 2023 and is expected to grow at a CAGR of 3.4% during the forecast period of 2024-2032. Urbanization is leading to more apartment and house constructions, increasing the demand for indoor furniture. According to Eurostat, the number of building permits issued for residential buildings in the European Union increased by 5.2% in 2023.
Items like sofas, beds, dining tables, and wardrobes are essential for these new homes. Indoor furniture also offers many functional and versatile options, such as storage solutions, multi-purpose furniture, and space-saving designs. This versatility makes indoor furniture popular with consumers, as it improves both the functionality and look of their living spaces.
Based on Wood type, the Europe wooden furniture market can be segmented into hardwood and softwood. Hardwood dominated the market with 75.7% of the market share in 2023 and is expected to grow at a CAGR of over 3.4% during the forecast period of 2024-2032. Hardwoods are attractive options to homeowners as they come in various colors and grain patterns. Furthermore, due to their scarcity these days, walnut can be very expensive. The rich, chocolate-colored grain makes it perfect for veneers, and it is highly prized in the high-end furniture industry. It is renowned for its strength and for the variety of colors that can appear in its straight grain.
In the Europe wooden furniture market, Germany accounted for the largest market share of USD 8.8 billion in 2023. It is projected to reach USD 12.6 billion by the end of 2032. This growth can be attributed to Germany's strong tradition of craftsmanship, high demand for quality furniture, and the country's robust economy, which supports consumer spending on premium and designer wooden furniture. Additionally, Germany's commitment to sustainability and innovation in woodworking technology further propels the market's expansion.
Europe Wooden Furniture Market Share
The Europe wooden furniture industry is fragmented in nature due to the presence of local and large international players. In 2023, the market players, such as Jogn Lewis & Partners, Wren Kitchens, Laura Ashley, Hammonds Furniture, collectively held around 5%-10% market share. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions and facility expansions & collaborations to diversify the product portfolios, expand the customer base, and strengthen its market position.
Europe Wooden Furniture Market Companies
Major players operating in the Europe wooden furniture industry are:
Europe Wooden Furniture Industry News
The Europe wooden furniture market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) (Million Units) from 2021 to 2032, for the following segments:
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Market, By Product Type
Market, By Price Range
Market, By Wood Type
Market, By Price Range
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: