The furniture industry is a major economic force, with a large impact on the global economy. As such, it is important to stay up to date on the latest trends and statistics in the industry. This blog post will provide an overview of the current state of the furniture industry, including the latest statistics on production, sales, and employment.
We will also discuss the key trends that are driving the industry, and how these trends are likely to shape the future of the furniture industry. Finally, we will provide some insights into the potential opportunities and challenges that the industry may face in the coming years.
Furniture Industry: The Most Important Statistics
IKEA’s annual revenue has grown consistently over the past two decades, except for 2020 due to the COVID-19 crisis.
The global furniture ecommerce industry generated 27 billion dollars in 2021 and is projected to reach 41 billion by 2030.
Furniture Industry Statistics Overview
Italy had the highest production value of furniture manufacturing in the EU in 2019, followed by Germany and Poland; Ireland had the lowest production value.
Kitchen furniture production value in the EU reached 16.17 billion euros in 2016.
This shows the growth of the furniture industry in the EU and how kitchen furniture is a major contributor to the overall production value.
Design Holding, an Italian furniture manufacturing company, had an annual sales value of 526 million euros in 2020.
Poltronesofà Holding had an annual sales value of 512 million euros in 2020, representing an increase over the period of consideration.
The Italian furniture manufacturing company Poltronesofà Holding is doing well, and the furniture industry in general is also doing well. It indicates that the furniture industry viable and profitable, and that companies like Poltronesofà Holding are able to remain competitive and successful.
IKEA’s annual revenue has grown consistently over the past two decades, except for 2020 due to the COVID-19 crisis.
This shows the resilience of IKEA’s business model and its ability to recover from a crisis. This is especially important in the context of the furniture industry, which has been significantly impacted by the pandemic.
The statistic also highlights the importance of IKEA as a major player in the furniture industry, and its ability to remain competitive in a difficult economic environment.
IKEA had 274 stores in Europe and 464 stores worldwide in 2022. It is a major player in the furniture industry, with a significant presence in Europe and worldwide.
Furniture store retail sales in Canada increased from 12 billion Canadian dollars in 2020 to 13.88 billion Canadian dollars in 2021.
The furniture industry in Canada is growing and consumers are increasingly interested in purchasing furniture. This could be a sign of a healthy and growing industry, which could lead to more investment and job opportunities in the sector.
Ontario had the highest average annual expenditure on furniture per household in 2019 at 910 Canadian Dollars.
The global market value of furniture is estimated to increase from 557 billion U.S. dollars in 2022 to 650.7 billion U.S. dollars in 2027.
It shows the potential growth of the industry and the potential for increased profits.
The global furniture ecommerce industry generated 27 billion dollars in 2021 and is projected to reach 41 billion by 2030.
This growth indicates that the industry is becoming increasingly popular and is likely to continue to grow in the future. It can be beneficial for businesses in the furniture industry, as it provides an opportunity to capitalize on the increasing demand for furniture online.
The global furniture market is expected to reach a value of USD 718.6 billion by 2027.
The market is expected to grow significantly over the next few years, indicating that now is the perfect time to invest in the furniture industry. The furniture industry is a lucrative and profitable sector, and one that is likely to continue to grow in the coming years.
In 2020, the US furniture market value was around USD 114.6 billion.
This highlights the sheer magnitude of the industry, and the potential for growth and success within it. It also serves as a reminder of the importance of the furniture industry to the US economy, and the need for businesses to stay informed about the latest trends and developments in the sector.
The European furniture industry employs more than 1 million people and has an annual turnover of about EUR 96 billion.
The industry is a major employer, providing jobs to over a million people, and that it generates a significant amount of revenue each year. This is an important point to consider when discussing the furniture industry, as it demonstrates the industry’s economic importance and its potential for growth.
In 2019, China produced around 37.6% of the world’s furniture, which makes it the largest furniture producing country.
This highlights the sheer scale of production that China is capable of, and the impact it has on the industry as a whole. It also serves as a reminder of the importance of understanding the dynamics of the global furniture market, and the need to stay informed about the latest developments in the industry.
IKEA, a Swedish furniture retailer, has a net income of about USD 1.77 billion in the fiscal year 2020.
The company has been able to generate a significant amount of revenue in the fiscal year 2020, despite the challenges posed by the pandemic. This is a clear indication that IKEA is a leader in the furniture industry and is well-positioned to continue to be a major player in the industry in the years to come.
In 2020, the online furniture retail sector reached a market size of around USD 47 billion in the United States.
The industry has seen a significant increase in its market size over the past year, indicating that the sector is thriving and is likely to continue to do so in the future. This is an important piece of information for anyone interested in the furniture industry, as it provides insight into the current state of the market and its potential for growth.
Office furniture production in the United States generated approximately USD 11.5 billion in sales during 2019.
The industry is thriving and that it is a major contributor to the US economy. This statistic is a great indicator of the health of the furniture industry and provides valuable insight into the industry’s performance.
In the United States, residential furniture manufacturing represents a USD 35.1 billion industry in 2021.
This speaks to the immense economic impact of the industry, and the potential for growth and development in the years to come. It also serves as a reminder of the importance of the furniture industry to the US economy, and the need to ensure that it remains a vibrant and successful sector.
The global luxury furniture market was USD 27.6 billion in 2020 and is expected to reach USD 32.6 billion by 2027.
The luxury furniture market is growing steadily, and is expected to reach a value of USD 32.6 billion by 2027. This is a clear indication that the furniture industry is a lucrative and profitable sector, and one that is likely to continue to grow in the coming years. This statistic is an important piece of information for anyone interested in the furniture industry, as it provides a glimpse into the potential of the sector.
The global outdoor furniture market is expected to reach USD 26.6 billion by 2026.
The outdoor furniture market is expected to experience significant growth in the coming years, indicating that the industry is ripe for investment and expansion. This is an exciting prospect for those interested in the furniture industry, as it suggests that there is a great opportunity to capitalize on the growing demand for outdoor furniture.
The global office furniture market is projected to reach USD 86.92 billion by 2025.
The market is growing rapidly and is expected to reach a staggering USD 86.92 billion by 2025. This is a clear indication that the furniture industry is a lucrative and profitable sector, and one that is likely to continue to expand in the coming years. This statistic is a valuable insight into the future of the furniture industry and provides a great opportunity for businesses to capitalize on the growth of the market.
The modular furniture market is expected to reach USD 213.83 billion by 2027.
The modular furniture market is expected to experience tremendous growth in the coming years, indicating that the industry is ripe for investment and expansion. This is an exciting prospect for those in the furniture industry, as it suggests that the sector is likely to remain a lucrative one for years to come.
India’s furniture market is set to grow at a CAGR of around 12.91% from 2020 to 2024.
The industry is expected to experience significant growth over the next few years, making it an attractive investment opportunity for those looking to capitalize on the booming industry. Furthermore, it provides valuable insight into the current state of the furniture market in India, allowing businesses to make informed decisions about their strategies and investments.
The global eco-friendly furniture market is expected to grow at a CAGR of 5.44% between 2021 and 2029.
The industry is likely to experience significant growth, which could lead to more sustainable practices and products being available to consumers. This could be a major boon for the furniture industry, as it could help to reduce the environmental impact of furniture production and consumption.
Additionally, it could also lead to increased profits for furniture manufacturers, as eco-friendly furniture is often more expensive than traditional furniture. Ultimately, this statistic is a sign of the potential of the eco-friendly furniture market and its importance to the industry.
The global hospital furniture market is projected to reach USD 4.43 billion by 2026.
This highlights the increasing demand for hospital furniture, which is expected to continue to rise in the coming years. This is a clear indication that the furniture industry is an important part of the healthcare industry and is likely to remain so in the future.
The worldwide market for furniture rental was valued at USD 5.89 billion in 2019.
The industry is growing rapidly and is becoming an increasingly attractive option for consumers. It also highlights the importance of staying up-to-date with the latest trends and developments in the furniture industry, as this can help businesses capitalize on the growing demand for furniture rental services.
UK furniture exports value increased by 18% from 2010 to 2019.
It is a clear indication that the industry is thriving and that the UK is a major player in the global furniture market. This is an important statistic for anyone interested in the furniture industry, as it provides a snapshot of the industry’s growth and success.
The Australian furniture industry generates over AUD 10 billion in annual revenue.
It highlights the industry’s ability to generate significant revenue and demonstrates its importance to the Australian economy. It also serves as a reminder of the industry’s potential for growth and expansion.
In 2019, the Indonesian furniture industry exported approximately USD 2.049 billion worth of furniture.
It is a major player in the global furniture market. It highlights the industry’s ability to produce high-quality furniture that is in demand around the world, and demonstrates the potential for further growth in the future. This statistic is an important indicator of the health of the furniture industry, and provides valuable insight into the industry’s performance.
Conclusion
The furniture industry is a large and growing industry with a lot of potential for growth. The industry is expected to continue to grow as people continue to invest in furniture for their homes and businesses.
With the right strategies and investments, businesses in the furniture industry can benefit from the growth of the industry. With the right data and insights, businesses can make informed decisions and capitalize on the opportunities that the furniture industry offers.
References
1 – https://www.statista.com/statistics/456496/production-value-manufacturing-furniture-european-union-eu/
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