United Kingdom Home Furniture Market - Growth, Trends, and Forecasts (2020 - 2025)
The United Kingdom furniture distribution is the highest share of nonspecialist retailers, due to the significant presence of alternative channels like ecommerce, hypermarkets, homeware retailers, and department stores compared to the other European countries. UK is the second home furniture consumer in Western Europe (WE), providing about 17% of WE demand, and the third importer, absorbing about 15% of WE imports. Online players are also continuing their upward path, and blurring the boundaries between on and offline experience with their own takes on the traditional store concept. In a context of political and economic uncertainty caused by Brexit, home furnishings performed relatively well in 2019. This can be attributed to a growing number of households in the country but also to a trend towards more qualitative furniture.
Key Market Trends
Increasing Housing Construction is Driving the Market
Europe recorded its fifth consecutive year of growth in construction for the year 2018 with growth in residential, nonresidential, and civil engineering projects in the region with the UK contributing a remarkable share to it. The rising demand for residential projects in the developing countries combined with a strengthening new home construction market contributed to another steady year of growth for the home furniture market.
Kitchen Furniture Segment
Kitchen Furniture includes fitted kitchen units as well as other wooden furniture used for preparing food or for food storage. The segment growth is driven by surging urbanization and remodeling in residential kitchens. Kitchen Furniture gaining momentum in investments with consistent growth in the hotel industry which in turn thrives on rising in travel and tourism.
The report covers major international players operating in the UK Home Furniture Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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