Market Size of Russia Home Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Russia Home Furniture Market Analysis
The demand for furniture dropped in 2020 as offices, schools, and restaurants temporarily closed to limit the spread of COVID-19. Companies moved to conserve cash and slash overhead expenses in this uncertain economic environment, lowering business and institutional furniture demand.
One of the major drivers of the industry's growth is the boom in the construction industry over recent years. The main sales channels are multi-brand shopping centers, mono-brand stores, and small independent retailers.
Online shopping is becoming more popular day by day in Russia. One of the main reasons for the growth of the e-commerce channel is the opportunity to choose among different brands worldwide. The improvement in the logistic services is helping the growth of the channel. One of the reasons for the growing demand for furniture in Russia is the import of high-quality furniture from China at a low price.
