Kitchen & Dining Furniture - Australia

Australia

In Australia, the revenue in the Kitchen & Dining Furniture market is projected to reach €1.66bn in 2024.
It is expected that this market will experience an annual growth rate of 5.41% (CAGR 2024-2029).
Comparatively, in the United States generates the highest revenue in this segment with €35,620m in 2024.
When considering the population size, each person in Australia generates approximately €62.32 in revenue in 2024.
"Rising demand for sustainable and eco-friendly kitchen and dining furniture is driving the market in Australia."

Key regions: Canada, United Kingdom, Brazil, Germany, India

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Analyst Opinion

The Kitchen & Dining Furniture market in Australia has been experiencing steady growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: in Australia have shifted towards more modern and minimalist designs in kitchen and dining furniture. Customers are looking for furniture that is not only functional but also aesthetically pleasing, with clean lines and sleek finishes. This trend is in line with global market preferences, as minimalism and contemporary designs are gaining popularity worldwide. In addition to design preferences, customers in Australia are also increasingly concerned about the sustainability and environmental impact of their furniture choices. There is a growing demand for furniture made from sustainable materials, such as reclaimed wood or bamboo, as well as furniture that is produced using eco-friendly manufacturing processes. This trend reflects a broader global shift towards more sustainable and eco-conscious consumption patterns. The Kitchen & Dining Furniture market in Australia is also influenced by local special circumstances. Australia has a diverse population with a wide range of cultural backgrounds, and this diversity is reflected in the demand for different styles of kitchen and dining furniture. For example, there is a growing demand for furniture that is inspired by Asian design aesthetics, such as Japanese or Scandinavian styles. This demand is driven by the increasing number of Australians with Asian heritage, as well as the popularity of Asian cuisine and culture in the country. Another local special circumstance that affects the market is the size and layout of Australian homes. Many homes in Australia have smaller kitchens and dining areas compared to other countries, which influences the demand for compact and space-saving furniture. Customers are looking for furniture that can maximize the use of limited space, such as extendable dining tables or kitchen islands with built-in storage.

Underlying macroeconomic factors: also play a role in the development of the Kitchen & Dining Furniture market in Australia. The country has experienced a period of sustained economic growth, which has led to increased disposable income and consumer spending. As a result, more Australians are investing in home renovations and upgrading their kitchen and dining spaces, driving the demand for new furniture. Furthermore, the growing trend of eating out less and cooking at home more has also contributed to the growth of the market. With more people spending time in their kitchens and dining areas, there is a greater emphasis on creating functional and stylish spaces that can accommodate both everyday meals and entertaining guests. In conclusion, the Kitchen & Dining Furniture market in Australia is evolving to meet changing customer preferences for modern and sustainable designs. The market is also influenced by

Local special circumstances: such as cultural diversity and the size of Australian homes. Underlying macroeconomic factors, including economic growth and changing lifestyle patterns, are driving the demand for new kitchen and dining furniture.

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 categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.