United Kingdom furniture
market is expected to register robust growth in the forecast period, 2023-2027.
Furniture refers to the movable pieces of furniture prepared by skilled
craftsmen utilizing the best quality material and designed with zero margin for
error. It adds to the aesthetic value of the commercial and household
establishments, including hotels, offices, homes, and other indoor and outdoor
areas. The changing lifestyles and constantly enhancing living standards of the
people in the urbanized regions are encouraging consumers to adopt luxury
furniture. Moreover, manufacturers are coming up with striking new designs of
furniture and collaborating with interior designers to increase their
visibility to capture a wider customer base.
Expanding Real Estate
Industry Post COVID-19 Lockdown Restrictions Augments the Market Growth
The growing economy of
developed countries like United Kingdom has supported the development of both
the commercial buildings and real estate of the country. Continuous
advancements in the manufacturing and service providing industries. With this,
the expanding service sector, along with the BPO/KPO industries supports the
growth of the market. The rising construction of commercial building owing to
the high need for more office spaces has augmented the demand for furniture in
residential as well as commercial spaces. The development of luxury housing
projects especially in the metropolitan cities and the high need for furniture
including beds, tables, chairs, couch sets, dining tables, etc., especially in
the urban areas is projected to accelerate the market growth in the future
years.
Shifting Consumer
Preferences Towards Home Décor Drives the Market Growth
The shifting preferences
among consumers towards the appealing home furniture along with the rising
demand for adaptable furniture is driving the market growth. In addition to
this, the enhancing standards of people with the changing lifestyles on account
of the development of the housing sector is also propelling the growth of the
market. The growing awareness among the consumers regarding the recycling and
sustainability which compels consumers towards the engineered wood
furniture/refurbished furniture over plastic furniture which is contributing to
the market growth. Subsequently, the manufacturers are continuously focusing on
launching the innovative and sustainable products that can fulfil the demand
across United Kingdom.