Furniture - Romania

Romania

In Romania, the revenue in the Furniture market is estimated to reach US$1,867.00m in 2024.
This market is projected to grow at an annual rate of 3.61% (CAGR 2024-2029).
The largest segment within the Furniture market is the Living Room Furniture segment, which is expected to have a market volume of US$694.50m in 2024.
When compared globally, United States generates the highest revenue in the Furniture market, with an estimated revenue of US$263bn in 2024.
Considering the total population, the per person revenue in Romania's Furniture market is projected to be US$95.18 in 2024.
Romania's furniture market is experiencing a surge in demand for modern and minimalist designs.

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

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Romania has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and favorable macroeconomic factors.

Customer preferences: in the Furniture market in Romania have shifted towards modern and functional designs, as consumers seek furniture that not only enhances the aesthetics of their homes but also provides practicality and convenience. This shift in preferences has led to an increased demand for modular furniture, multi-functional pieces, and space-saving solutions. Additionally, there is a growing interest in sustainable and eco-friendly furniture, with consumers showing a preference for products made from recycled materials or sourced from sustainable forests. Trends in the market indicate a rising demand for online furniture shopping in Romania. The convenience and ease of online shopping, coupled with a wide range of options and competitive prices, have attracted an increasing number of consumers to purchase furniture online. This trend has been further accelerated by the covid-19 pandemic, which has led to a surge in online shopping across various industries. As a result, furniture retailers in Romania are increasingly focusing on enhancing their online presence and providing a seamless digital shopping experience to cater to the changing consumer behavior. Local special circumstances in Romania also contribute to the development of the Furniture market. Romania has a growing middle class with increasing disposable income, which has fueled consumer spending on furniture. Additionally, the country has witnessed a rapid urbanization trend, with more people moving to cities and seeking new homes or renovating existing ones. This has created a demand for furniture, as individuals and families look to furnish their new spaces or upgrade their interiors. Underlying macroeconomic factors have played a significant role in the growth of the Furniture market in Romania. The country has experienced a stable economic growth rate, which has led to an improvement in living standards and increased consumer purchasing power. Furthermore, favorable government policies and incentives have encouraged foreign investments in the furniture industry, leading to the establishment of international furniture retailers and manufacturers in Romania. This has not only expanded the market but also introduced new designs, technologies, and quality standards to the local industry. In conclusion, the Furniture market in Romania is developing in response to changing customer preferences, emerging trends,

Local special circumstances: and favorable macroeconomic factors. The shift towards modern and functional designs, the rise of online furniture shopping, the growing middle class, rapid urbanization, and stable economic growth are all contributing to the growth and development of the market. As the market continues to evolve, furniture retailers in Romania will need to adapt to these trends and preferences to stay competitive and meet the evolving needs of consumers.

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.