The furniture market - Germany (2023)

1.1 Introduction

The furniture market includes a wide range of products. This market can be divided into several areas. These include, for example, bedroom furniture, wardrobes, shelves, etc.

The world market for furniture is growing quite strongly every year. From 2020 to 2023, the demand increased by 14%. This increase in overall demand is seen in both developing and developed countries.

In Germany, the furniture market is particularly developed. Growth has remained relatively stable in recent years, and the sector does not seem to be affected by the crises on the consumer side. However, for furniture producers, slowdowns in supply chains can have critical consequences.

The German furniture market is still heavily dominated by multinationals such as IKEA and Rolf Benz. Many small manufacturers offer more individualized products. New start-ups are being founded, trying to differentiate themselves from the competition by offering innovative furniture rental services. These projects often become successful because they manage to satisfy consumers while offering environmentally friendly products. This last aspect is becoming increasingly important in the German market. Large companies like IKEA are also particularly innovative in this area.

Online sales are becoming increasingly important in the furniture market. Intelligent products for"e-homes" that make people's everyday lives easier are more and more prioritized by the consumer. In Germany in particular, products for the elderly are on the rise, and augmented realities that allow clients to visualize furniture in their home as easily as possible using a smartphone will be used more and more in the future. Companies that successfully use this technology will certainly be successful.