Kitchen & Dining Furniture - Russia

Russia

In Russia, the revenue in the Kitchen & Dining Furniture market reaches €1.07bn in 2024.
It is projected that the market will experience an annual growth rate of -0.95% (CAGR 2024-2029).
Comparatively, in the United States generates the highest revenue with €35,620m in 2024.
Looking at the per person figures, in 2024, each individual contributes €7.44 in revenue.
Russia's growing middle class is driving demand for high-quality kitchen and dining furniture, with a preference for classic and elegant designs.

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

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Analyst Opinion

The Kitchen & Dining Furniture market in Russia is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Russia have shifted towards modern and functional kitchen and dining furniture. Consumers are increasingly looking for furniture that not only adds aesthetic value to their homes but also provides practicality and convenience. This shift in preferences is driven by the growing influence of global design trends and the desire for a more contemporary and stylish living space.

Trends in the market: also play a crucial role in the development of the Kitchen & Dining Furniture market in Russia. One of the key trends is the rising demand for eco-friendly and sustainable furniture. Consumers are becoming more conscious of the environmental impact of their purchases and are opting for furniture made from sustainable materials such as bamboo or recycled wood. This trend is also influenced by the global movement towards sustainability and the increasing awareness of climate change. Another trend in the market is the growing popularity of open-plan kitchen and dining areas. This trend is driven by the desire for a more spacious and social living environment. open-plan layouts provide a seamless flow between the kitchen, dining, and living areas, creating a more inclusive and interactive space for family and friends. This trend has led to an increased demand for kitchen islands, breakfast bars, and multifunctional dining tables that can accommodate larger gatherings.

Local special circumstances: in Russia also contribute to the development of the Kitchen & Dining Furniture market. The country's rich cultural heritage and tradition of hospitality have a significant influence on the design and style of kitchen and dining furniture. Russian consumers often prefer furniture that reflects their cultural identity and heritage, such as ornate wooden furniture with intricate carvings or traditional patterns. This demand for culturally-inspired furniture creates a unique market niche and drives the production and sale of locally-made products.

Underlying macroeconomic factors: such as the growth of the middle class and increasing disposable incomes, also contribute to the development of the Kitchen & Dining Furniture market in Russia. As more households move into the middle-income bracket, there is a greater demand for higher-quality and more expensive furniture. Rising disposable incomes allow consumers to invest in durable and long-lasting furniture that can withstand the test of time. Additionally, the growing urbanization in Russia has led to smaller living spaces, which has increased the demand for compact and space-saving kitchen and dining furniture. In conclusion, the Kitchen & Dining Furniture market in Russia is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and functional furniture, the demand for eco-friendly and sustainable products, the popularity of open-plan living spaces, the influence of cultural heritage, and the growth of the middle class and disposable incomes are all driving the development of the market.

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.