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 |
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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.
