Furniture - Denmark

  • Denmark
  • In 2024, the Furniture market in Denmark is projected to generate a revenue of €3.83bn.
  • It is anticipated that the market will experience an annual growth rate of 5.77% (CAGR 2024-2029).
  • The largest segment within this market is the Lamps & Lighting segment, which is estimated to have a market volume of €0.81bn in 2024.
  • When compared globally, in the United States leads in terms of revenue generation, with an estimated revenue of €244bn in 2024.
  • In terms of per capita revenue, in Denmark is expected to generate 0.00 per person in 2024.
  • Denmark's furniture market is characterized by a strong focus on minimalistic and functional design.

Key regions: Worldwide, United States, China, India, Germany

 
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Analyst Opinion

The Furniture market in Denmark has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences:
In Denmark, there is a growing demand for furniture that combines both functionality and aesthetics. Customers are increasingly looking for furniture pieces that are not only practical but also stylish and visually appealing. Scandinavian design, known for its minimalistic and clean lines, has gained popularity both locally and worldwide. Danish consumers also value sustainability and environmentally friendly products, leading to an increased demand for furniture made from recycled or sustainable materials.

Trends in the market:
One of the key trends in the Danish furniture market is the rise of online shopping. With the convenience of e-commerce, more and more customers are choosing to purchase furniture online, as it offers a wider range of options and competitive prices. This trend has pushed traditional brick-and-mortar furniture stores to adapt and enhance their online presence. Another trend in the Danish furniture market is the growing popularity of multifunctional furniture. As living spaces become smaller, customers are looking for furniture that can serve multiple purposes. For example, sofas that can be converted into beds or coffee tables with built-in storage compartments. This trend reflects the need for practicality and space optimization in Danish homes.

Local special circumstances:
Denmark has a strong tradition of craftsmanship and design, which has contributed to the success of the furniture industry. Danish furniture manufacturers are known for their high-quality craftsmanship and attention to detail. This reputation has helped Danish furniture brands establish a strong presence both domestically and internationally.

Underlying macroeconomic factors:
The Danish economy has been performing well in recent years, with stable economic growth and low unemployment rates. This has had a positive impact on consumer confidence and purchasing power, leading to increased spending on furniture. Additionally, the government's focus on sustainability and green initiatives has created opportunities for furniture companies that prioritize environmentally friendly practices. In conclusion, the Furniture market in Denmark is experiencing growth due to changing customer preferences, including a demand for functional and aesthetically pleasing furniture, as well as a focus on sustainability. The rise of online shopping and the popularity of multifunctional furniture are key trends in the market. The strong tradition of craftsmanship and design in Denmark, along with a favorable macroeconomic environment, further contribute to the growth of the furniture industry.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Visión general

  • Revenue
  • Key Players
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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