Market Size of Europe Luxury Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 11.78 Billion |
| Market Size (2029) | USD 15.95 Billion |
| CAGR (2024 - 2029) | 6.24 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Luxury Furniture Market Analysis
The Europe Luxury Furniture Market size is estimated at USD 11.78 billion in 2024, and is expected to reach USD 15.95 billion by 2029, growing at a CAGR of 6.24% during the forecast period (2024-2029).
The European luxury furniture sector holds a prominent position globally, excelling not just as a producer but also as a significant consumer and exporter. Europe's furniture production alone commands nearly 40% of the global market.
China's sizable population and growing affluence have fueled a robust demand for furniture, which, in turn, is bolstering the European furniture industry. Consumers' growing inclination to allocate a larger portion of their disposable income to floor coverings and furnishings is fueling this trend. Additionally, factors such as urbanization, real estate growth, robust GDP, and economic stability further contribute to Europe's furniture industry surge.
Europe emerges as a dominant player in the global wooden furniture export market, with its primary markets including the European Union, the United States, Hong Kong, Japan, and Vietnam. Notably, Europe also imports furniture, particularly from countries like Italy and Germany.
Europe's thriving furniture industry is underpinned by its abundant natural resources. A noteworthy development is the rise of furniture malls in Europe, a response to the surging consumer demands.
