Market Trends of Europe High-End Furniture Industry
This section covers the major market trends shaping the Europe High-End Furniture Market according to our research experts:
Growing Demand for Seating Products is Driving the Market Growth
Seating products include chairs, armchairs, sofas have been the segment of the high-end furniture products which are recording growing demand every year. As the living room is one of the important rooms of the home and the lobbies, reception areas in the hospitality and office end-user segments are more important areas in the respective places, customers and investors have been increasing their spending on the seating products as they bring more elegance to the surroundings. Similarly, as consumers are replacing their furniture more frequently than in the past, demand for high-end furniture is also on the growth track with their increasing standards of living and the steady increase in disposable income across the region.
Commercial End-User Segment is Anticipated to Pace in the Forecast Period
High-end furniture has been helping the leading commercial firms in bringing more aesthetics to the surroundings coupled with offering more comfort to the customers, owing to which they have been largely preferred by the investors in the segment even though they cost more than usual. The expanding travel and tourism industry has been helping the commercial end-user segment to record more transactions during the review period. The trend was anticipated to be dominant in the forecast period before the pandemic hit the market. However, with the changing situations in the region, the hospitality industry is anticipated to get back on track and help the commercial end-user segment of the market in recording more transactions.
