Living Room Furniture - Ireland

Ireland

In Ireland, the revenue generated in the Living Room Furniture market in 2024 amounts to US$397.80m.
It is projected that the market will experience an annual growth rate of 4.77% (CAGR 2024-2029).
When compared to other countries around Worldwide, United States leads in terms of revenue generation with US$73,080m in 2024.
Considering the total population figures, per person revenues of US$78.17 are generated in Ireland in 2024.
The demand for traditional Irish-style living room furniture is increasing as consumers in Ireland seek to embrace their cultural heritage and create cozy, authentic spaces in their homes.

Key regions: Worldwide, India, France, Denmark, Brazil

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Analyst Opinion

The Living Room Furniture market in Ireland is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Living Room Furniture market in Ireland have shifted towards modern and minimalist designs. Consumers are increasingly looking for furniture that is sleek, functional, and space-saving. This preference for contemporary styles is driving the demand for furniture made from materials such as metal, glass, and leather. Additionally, there is a growing demand for furniture that is customizable and can be easily adapted to different living spaces.

Trends in the market: indicate a rise in online furniture shopping. With the increasing availability of online retailers and the convenience of shopping from home, more consumers are opting to purchase their living room furniture online. This trend is further fueled by the wide range of options available online, competitive pricing, and the ability to compare products and prices easily. As a result, traditional brick-and-mortar furniture stores are facing intense competition and are being forced to adapt their business models to include online sales.

Local special circumstances: in Ireland also contribute to the development of the Living Room Furniture market. The country has a relatively high homeownership rate, which means that a large portion of the population is in need of furniture for their living spaces. Additionally, the growing trend of open-plan living spaces in Irish homes has led to an increased demand for furniture that is versatile and can be used in multi-functional spaces.

Underlying macroeconomic factors: also play a role in the growth of the Living Room Furniture market in Ireland. The country's economy has been steadily recovering from the global financial crisis, leading to increased consumer confidence and disposable income. As a result, consumers are more willing to invest in higher-quality furniture and are more likely to make larger purchases for their living rooms. In conclusion, the Living Room Furniture market in Ireland is developing due to changing customer preferences towards modern and minimalist designs, the rise of online furniture shopping, local special circumstances such as high homeownership rates and open-plan living spaces, and underlying macroeconomic factors such as a recovering economy and increased consumer confidence.

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 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.