Furniture - Sweden

  • Sweden
  • In 2024, the Furniture market in Sweden is projected to generate a revenue of €8.44bn.
  • It is anticipated that the market will witness an annual growth rate of 5.17% from 2024 to 2029 (CAGR 2024-2029).
  • The largest segment in this market is the Living Room Furniture segment, which is estimated to have a market volume of €2.16bn in 2024.
  • When compared globally, in the United States leads the pack with a revenue of €242bn in 2024.
  • In terms of per capita revenue, each person in Sweden is expected to generate €791.10 in 2024.
  • It is worth noting that these figures pertain specifically to the Furniture market.
  • The demand for minimalist furniture designs in Sweden has been steadily increasing, reflecting the country's preference for clean and functional aesthetics.

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

 
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Analyst Opinion

The Furniture market in Sweden has been experiencing steady growth over the past few years.

Customer preferences:
Swedish customers have shown a strong preference for high-quality and sustainable furniture. They value functionality and minimalistic design, with a focus on clean lines and natural materials. Swedish consumers also prioritize furniture that is durable and long-lasting, as they tend to invest in pieces that they can use for many years. Additionally, there is a growing trend towards customization, with customers seeking unique and personalized furniture options.

Trends in the market:
One of the key trends in the Swedish furniture market is the increasing popularity of online shopping. Swedish consumers have embraced e-commerce platforms, which offer a wide range of furniture options and convenient delivery services. This trend has been further accelerated by the COVID-19 pandemic, as more people are choosing to shop online due to social distancing measures. Another trend in the market is the rise of sustainable and eco-friendly furniture. Swedish consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking out furniture made from recycled or renewable materials. This trend is driven by a combination of consumer awareness and government initiatives promoting sustainability.

Local special circumstances:
Sweden has a strong tradition of craftsmanship and design, which has influenced the furniture market. Swedish furniture brands are known for their high-quality craftsmanship and innovative designs. This reputation has helped them gain a strong foothold in both domestic and international markets.

Underlying macroeconomic factors:
The Swedish economy has been performing well in recent years, with stable economic growth and low unemployment rates. This has contributed to increased consumer confidence and spending power, which in turn has boosted the furniture market. Additionally, the government's focus on housing construction has led to a higher demand for furniture, as new homeowners furnish their properties. In conclusion, the Furniture market in Sweden is experiencing growth due to customer preferences for high-quality and sustainable furniture, the increasing popularity of online shopping, and the focus on craftsmanship and design. The strong economy and government initiatives promoting sustainability have also contributed to the market's development.

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.

Visión general

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