The sudden outbreak of COVID-19 propels the demand for work from home furniture which is projected to stimulate the growth of the furniture market in the forecast period, 2023-2027.
According to TechSci Research report, “United Kingdom furniture market By Region, Competition Forecast & Opportunities, 2027”, the United Kingdom furniture market is expected to witness growth at a significant rate in 2023-2027. Furniture represents the movable and ergonomic objects, including chairs, tables, beds, cupboards, desks, sofas, and cabinets, which is utilized in residential and commercial places for seating arrangements, storage purposes, and enhancing the aesthetic value of space. It is manufactured utilizing durable raw materials, such as wood, plastics, glass, iron, and marble. At present times, manufacturers are widely offering multi-functional variants in varied colours, sizes, styles, and designs with improved aesthetics, comfort, functionality, and storage capacities for offices, homes, and indoor, and outdoor areas. The expanding population, elevating levels of urbanization, and increasing construction of residential and commercial buildings are some of the primary factors positively influencing the market growth. The growing travel and tourism sector, along with the inflating income levels, changing lifestyles, and enhancing living standards, is further increasing the usage of lightweight, versatile, and portable furniture with maximum storage facilities across United Kingdom. This further support the market growth. In addition to this, the rising number of nuclear families is propelling the sales of foldable and compact furniture that can be easily arranged in smaller spaces which further augments the market growth. The increasing number of people suffering from postural dysfunction is escalating the demand for ergonomically designed furniture to prevent health and posture problems among children and adults. The easy availability of innovative products through online shopping platforms is further propelling market growth. Also, various leading manufacturers are coming up with new designs and collaborating with interior designers to expand their market reach and capture a wider customer base. Moreover, the introduction of sustainable furniture made from recycled items, including salvaged wood, textiles, and wood pallets, which is anticipated to fuel the market growth.
However, risk factor associated with the usage of chemicals in the process of treatment of seed is expected to impede the growth of the furniture market in the forthcoming years.
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The United Kingdom Furniture market is segmented into product type, point of sale, raw material, regional distribution, and competitive landscape.
Based on point of sale, the market is bifurcated into offline and online. Offline segment is expected to hold the significant share in the market in the coming years, 2023-2027. This is owing to the availability of customized furniture items via offline and the quality checking propels the segmental growth.
Various key market players operating in the United Kingdom furniture market are:
- Chill Sofas LTD
- Dunelm Ltd.
- IKEA Limited
- Habitat Retail Limited
- WAYFAIR
- Barker and Stonehouse Ltd
- DFS Trading Limited
- Furniture World
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“The expanding real estate sector and the escalating demand for luxury furniture across both the residential and commercial sectors is further propelling the market growth. In addition to this, the growing penetration of online retailing and the increasing population, especially in the developing nations such as United Kingdom fostering the growth of the furniture market. The inflating disposable income levels and the elevating awareness among consumers towards purchasing luxury items which act as a status symbol and add value to a space, stimulating the furniture market. With this, the shifting preferences towards branding and positioning, propelling the demand for eco-friendly luxury furniture, and increasing impact of globalisation, supporting the market growth. Additionally, the low operational cost and the expanding infrastructure investments are expected to drive the market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“United Kingdom Furniture Market By Product Type (Home Furniture, Office Furniture & Institutional Furniture), By Point of Sale (Offline Vs. Online), By Raw Material (Wood, Metal, Plastic and Others (Bamboo, Cane, etc.), By Region, Competition Forecast & Opportunities, 2027 has analyzed the future growth potential of United Kingdom furniture market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in United Kingdom furniture market.
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