(MENAFN- PR Newswire)
End-user
1.1 Hospitality and food services
1.2 Offices and home offices
1.3 Retail stores
1.4 Institutions
1.5 Others
Type
2.1 Turnkey contract
2.2 Soft contract
Geography
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1.1 Fastest growing segment:
The European contract furniture and furnishing market is primarily driven by the hospitality and food services segment. This sector accounts for a significant market share and is anticipated to remain the largest segment throughout the forecast period. In this segment, various sectors such as hotels, resorts, restaurants, cafes, food service chains, tourism companies, event management companies, and media houses utilize contract furniture and furnishing products. Dining furniture, bedroom furniture, storage furniture, kitchen furniture, bathroom furniture, and screens are some of the frequently used products. The growth in the hospitality and food services industry, particularly in restaurants, cafes, and food service chains, is a major factor fueling the demand for contract furniture and furnishing in Europe. Consumer spending on dining out has increased significantly, with dining out in restaurants and hotels accounting for a substantial proportion of total household final consumption expenditure in EU countries, according to the European Commission (EC). Additionally, the expansion of hotels and food service chains in the region has further boosted market growth. For instance, the Old War Office in London is set to open Raffles London, while Oetker Collection plans to open Hotel La Palma, and Mandarin Oriental Lake Lucern is undergoing extensive renovations. The hospitality industry is focusing on personalizing products and experiences to cater to millennial customers' preferences. The ease of accessing furniture through e-commerce platforms offering a wide range of choices has also increased sales. These advantages are expected to boost the adoption of contract furniture and furnishing in the hospitality and food services sector, thereby propelling the growth of the contract furniture and furnishing market in Europe during the forecast period.
Analyst Review
The European contract furniture and furnishing market is a significant sector, driven by furniture consumption in various industries such as offices, hospitals, schools, and hospitality. Wood, plastic, and metal are the primary materials used in manufacturing office desks, worktops, cabinets, ergonomic swivel chairs, and other furniture zones. Domestic businesses and ergonomic equipment are key trends, with a focus on ergonomic design, digitalization, smart furniture, and intelligent furniture. The purchasing process involves various distribution channels, including Turn-key solutions, retail shops, and direct sales. Market forecasts suggest potential demand for traded products, with average customer budgets influencing market shares. Leading players in the industry include Steelcase and others, with product categories ranging from desks and tables to chairs and stools, storage cabinets, and more. Market growth is driven by factors such as staff productivity, the hospitality sector, and the increasing importance of sustainable and eco-friendly materials.
Market Overview
The European contract furniture and furnishing market is a significant sector, driven by furniture consumption in various business areas such as offices, hospitals, retail shops, hospitality sectors, and more. The market comprises furniture made of wood, plastic, and metal, including office desks, worktops, cabinets, and ergonomic swivel chairs. Ergonomic equipment and furniture zones are increasingly popular, focusing on staff productivity and comfort. The market caters to domestic businesses and the premier resource for commercial office furniture, offering a wide range of product categories through various distribution channels. The furniture segment includes leading players like NexGen Workspace, Steelcase, and furniture manufacturers, showcasing their creative capacity in modern furniture design. Circular renting models are gaining traction, with an emphasis on sustainability and cost-effectiveness. New websites provide instant quotes and pricing options for potential customers, allowing for a seamless purchasing process. Market forecasts suggest steady growth, with segments like the retail, hospitality, real estate, entertainment, marine, and healthcare sectors driving demand. The contract furniture production process involves infrastructure for modular furniture and furnishing products, with a focus on turn-key and soft contract solutions. Wooden panels, ergonomic swivel chairs, desks and tables, chairs and stools, and storage cabinets are among the traded products. EMR's research methodology includes surveys and analysis of market shares, product categories, and distribution channels. Digitalization is transforming the industry, with smart furniture and intelligent furniture solutions enhancing workspace efficiency and productivity. Average customer budgets vary across segments, with market leaders continually adapting to meet diverse demands.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8
Geographic Landscape
9 Drivers, Challenges, and Trends
10
Venodr
Landscape
11
Vendor
Analysis
12
Appendix
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