HOG furniture market size

It is estimated that the furniture market in Europe is to hit €178 bn by 2024; this growth is caused by the fact that the production of geographical production that comes from the plant has increased over the last decade with Germany, Italy, Poland and France ranked amongst the top 10 world manufacturer which cumulatively account for 13% of the furniture market share.

The world furniture market share is very competitive with the existence of a reasonable number of local and global market players. The big players include Ashley Furniture Industries, Okamura Corporation, Inter Ikea Group, Haworth Inc.Kohler Co,. and Global Furniture Group. Other eminent players are McCarthy Group Ltd, Heritage Home, Herman Miller, and Humanscale Corporation.

Some of the key factors observed to be driving the industry include the availability of wood options, M&A, its distribution channel, superior finishing, high durability and strength of wood and innovative designs. Cumulatively, all these factors will positively impact product sales. The increase in residential and commercial infrastructure combined with innovative designs in production is the driving force in the furniture market. The trendy and change in customer taste and demand will drive the growth within the forecasted time. The shift in customer buying patterns that is informed by changing lifestyle, M&A, regional expansion of recognized brands will also stimulate the growth in the industry.

The rising need for outdoor furniture particularly in developed countries will stimulate the growth in the global furniture market. The advancement in technology for smart furniture will also support the sales within the estimated time frame. The urge for luxury furniture is likely to witness a reasonable growth due to the rise in disposable income, its affordability and trendy designs, color patterns will rapidly flood the market.

It is projected that offices, hospitals, hotels, learning institutions will be major contributors to the growth of the furniture sector in 2024.

The demand for furniture varies depending on the customer part and location. The world market is taking the changing fashion and taste into consideration. Key players are working to match up with the changing lifestyle pattern of the customers through innovative designs.

While furniture manufacturers are working to increase their profit margin with this projection through merging and expansion of distribution networks, innovative designs to accommodate the teeming population, improve the lives of people.

What role is the African government playing in ensuring that SMEs in the furniture industry also key into the projected revenue?


Nwajei Babatunde 
Content Creator for Hog Furniture. 

Leave a comment

All comments are moderated before being published

Featured products

Genuine Leather Cleaner & ProtectorGenuine Leather Cleaner & Protector
Genuine Leather Cleaner & Protector
Sale price₦1,200.00 NGN Regular price₦1,800.00 NGN
Cavalleri Leather Sofa Set-E801
Cavalleri Leather Sofa Set-E801
Sale price₦907,914.99 NGN Regular price₦955,699.99 NGN
Lix Luxury Rattan Sun Lounger
Lix Luxury Rattan Sun Lounger
Sale price₦125,000.00 NGN Regular price₦135,000.00 NGN

Shop the Sale

View all
Loulou Plastic TableLoulou Plastic Table
Loulou Plastic Table
+10
+9
+8
+7
+6
+5
+4
+3
+2
+1
Sale price₦23,648.62 NGN
Choose options
Save ₦1,437.50
Papilon Plastic Pedal Waste BinPapilon Plastic Pedal Waste Bin
Papilon Plastic Pedal Waste Bin
Sale price₦5,312.50 NGN Regular price₦6,750.00 NGN
Save ₦7,500.00
The Artful Noguchi Coffee Table
The Artful Noguchi Coffee Table
Sale price₦75,000.00 NGN Regular price₦82,500.00 NGN
Save ₦2,000.00
Flexi Desk Lamp (Eu Plug)Flexi Desk Lamp (Eu Plug)
Flexi Desk Lamp (Eu Plug)
Sale price₦7,900.00 NGN Regular price₦9,900.00 NGN
Save ₦7,755.00
LEDS  15-2318-S4-E7 Ceiling Mounted Lamp Fitting in Amber glass
LEDS 15-2318-S4-E7 Ceiling Mounted Lamp Fitting in Amber glass
Sale price₦58,045.00 NGN Regular price₦65,800.00 NGN
Save ₦10,000.00
Lix Luxury Rattan Sun Lounger
Lix Luxury Rattan Sun Lounger
Sale price₦125,000.00 NGN Regular price₦135,000.00 NGN
Visitor Chair SLEEK-SLK -601Visitor Chair SLEEK-SLK -601
Visitor Chair SLEEK-SLK -601
Sale price₦18,850.00 NGN
Comfy-75488 Mouka Mattress- L 6ft x W 4.5ft x H 8"
Office Chair Swivel-Fabric - S51
Save ₦13,000.00
Black Executive Swivel Chair-909A
Black Executive Swivel Chair-909A
Sale price₦75,000.00 NGN Regular price₦88,000.00 NGN
Save ₦1,900.00
Compact 3 feet Office Table
Compact 3 feet Office Table
Sale price₦35,400.00 NGN Regular price₦37,300.00 NGN
Save ₦1,300.00
Blaze Black & Chrome High Back Executive Office Chair-LK248ABlaze Black & Chrome High Back Executive Office Chair-LK248A
Blaze Black & Chrome High Back Executive Office Chair-LK248A
Sale price₦48,400.00 NGN Regular price₦49,700.00 NGN

HOG TV: How to Shop Online

Recently viewed