Key regions: Denmark, United States, France, United Kingdom, Germany
The Kitchen & Dining Furniture market in Ireland has been experiencing steady growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.
Customer preferences: Irish consumers have shown a growing interest in kitchen and dining furniture that combines functionality with modern design. They are increasingly looking for furniture pieces that not only serve their practical needs but also add aesthetic value to their homes. This trend is reflected in the demand for sleek, minimalist designs, as well as furniture made from sustainable materials. Additionally, there is a growing preference for compact and space-saving furniture options, particularly in urban areas where living spaces are smaller.
Trends in the market: One of the key trends in the Kitchen & Dining Furniture market in Ireland is the rise of online retail. Consumers are increasingly turning to online platforms to browse and purchase furniture, as it offers convenience and a wider range of options. This shift towards online shopping has led to the emergence of new players in the market, including online-only furniture retailers and e-commerce platforms. Traditional brick-and-mortar retailers are also expanding their online presence to cater to changing consumer preferences. Another trend in the market is the increasing popularity of sustainable and eco-friendly furniture options. Irish consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking out furniture made from sustainable materials such as reclaimed wood or recycled plastic. This trend is driven by a combination of environmental awareness and a desire to support local artisans and manufacturers.
Local special circumstances: Ireland's growing economy and rising disposable incomes have contributed to the growth of the Kitchen & Dining Furniture market. As the economy continues to improve, consumers have more purchasing power and are willing to invest in higher-quality furniture that will last longer. This has led to an increase in demand for premium and luxury furniture brands in the market. Additionally, the housing market in Ireland has been experiencing a boom in recent years, with a high demand for new homes and renovations. This has created a need for new furniture, particularly in the kitchen and dining areas. The construction industry has also been a major driver of the market, as new housing developments often include fitted kitchens and dining areas, which require furniture.
Underlying macroeconomic factors: The strong performance of the Irish economy, coupled with low unemployment rates, has created a favorable environment for the Kitchen & Dining Furniture market. As more people find employment and their incomes rise, they are more likely to invest in furniture for their homes. Additionally, low interest rates have made it easier for consumers to access credit and finance their purchases. Furthermore, the government's initiatives to promote sustainable living and reduce carbon emissions have also influenced consumer preferences in the Kitchen & Dining Furniture market. The emphasis on sustainability and eco-friendly practices has led to increased demand for furniture that aligns with these values. In conclusion, the Kitchen & Dining Furniture market in Ireland is driven by changing customer preferences, including a focus on functionality and modern design, as well as a growing interest in sustainable and eco-friendly options. The rise of online retail and the strong performance of the Irish economy have also contributed to the market's growth.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.
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