PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1631613
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1631613
The Europe Kitchen Furniture Market is expected to register a CAGR of greater than 3% during the forecast period.
The Kitchen Furniture Market has started combining new technologies and innovations with cultural heritage, tradition, and style, providing jobs for skilled workers. An increase in consumption is one of the key factors impelling the growth of the European kitchen Furniture Market. The European Furniture Kitchen Market growth in the future will arrive at the growing demand for eco-friendly furniture, modern and authentic kitchen furniture, rise in hotels & restaurants, easy availability of raw materials from suppliers, and reduction of high-cost transportation to manufacturers. Germany, Italy, and Poland are the main furniture exporting countries, making Europe have a long history of kitchen furniture manufacturing.
In addition, the growing Work-from-home culture is gaining traction in Europe, with more people installing kitchens in their homes and refurbishing their living spaces, increasing the number of kitchens and, as a result, a boost in the kitchen furniture industry. This has also resulted in a surge in privately owned and small home constructions, which has fueled the growth of the Kitchen Furniture market, which is likely to continue over the forecast period.
COVID-19 negatively impacted the kitchen furniture market in Europe because of lockdown imposition and the manufacturing halts. The furniture industry made up for some of the losses during COVID-19, so the value of products sold after 8 months stood about 5% lower than the previous year. The collapse of exports was accompanied by a loss of about 10%, along with the downward trend of wood-based panel prices on the European market. Post-COVID-19, the growth is projected along with the rise in export trades in the kitchen furniture market of Europe.
In 2022, 91% of people aged 16 to 74 in Europe used the Internet, 75% of whom bought or ordered goods or services for private use. The proportion of e-shoppers grew from 55% in 2012 to 75% in 2022, an increase of 20 percentage points. This digitalization is accounting for growth in online sales over the years.
The European kitchen furniture market has also experienced a growth rate in online sales. This, in return, is driving the market by providing consumers with convenient access to a wide range of options and the ability to compare prices and other features easily.
Germany is Europe's largest furniture market and the world's third-largest furniture market. In the last five years, furniture consumption has increased slightly less than furniture imports. The order intake demonstrates that German kitchen furniture manufacturers are continuing to boost their sales both internationally and domestically. Not only in terms of revenue but also in terms of technology and new innovative product design launches. Germany had the greatest market share in the kitchen furniture market, followed by Italy, France, and the Netherlands.
The European Kitchen Furniture Market is highly competitive and fragmented, with a large number of players dominating the market. Leading local and foreign players are present in each price range and in each European country. International chains and their brands, such as American Woodmarks and Maiden Woods, are widely famous and leading the market. Europe groups such as Lark and Larks, Euro-Rite, Cash and Carry Furniture, and Moore's Furniture have been focusing on innovating modern and contemporary designs and leading the European kitchen Furniture Market for a long time.