The home furniture market in the UK has seen a number of challenges over the past few years. A major restraint on UK home furniture production came from the worldwide outbreak of the coronavirus disease (COVID-19), which caused trade restrictions and a slump in global consumption. National governments imposed lockdowns to combat the spread of the disease, which halted manufacturing and economic activity. The outbreak is expected to continue to negatively impact businesses well into the year 2021.
Market share of home furniture UK
The market for home furniture is expected to grow at a CAGR of 5.8% during the forecast period. The demand for home furniture is expected to rise significantly among consumers in urban areas. Government initiatives aimed at developing urban housing are likely to further drive the market. In addition, consumers are more likely to buy furniture and furnishing products from specialty stores.
Currently, the home furniture market in the United Kingdom is dominated by a handful of major international players. However, mid-sized and smaller firms are increasingly gaining market share and tapping into new segments. The country is among the top five European markets for home furniture. During the forecast period, the market for home furniture in the United Kingdom is projected to grow at a CAGR of 3.2%. While the United Kingdom is Europe's second-largest consumer of home furnishings, it is the third largest importer of home furnishings.
However, the market in this country has experienced several challenges in recent years. The outbreak of the coronavirus disease (COVID-19) has been a major restraint on the UK home furniture industry. Various trade restrictions and lockdowns imposed by national governments have hindered manufacturing and consumption in several countries. This disease has affected economic activity in countries across the world and is expected to continue to harm businesses until 2021.
Leading suppliers
If you are looking for quality home furniture at an affordable price as seen at furnitureprices.co.uk, there are several companies that can provide the goods. One of the most established names in home furniture in China is LAMEX. This company was founded in 1986 and specializes in manufacturing modern home furniture. Their products are well-known for their durability and style.
In the US, the home furniture market is one of the largest in the world, with the top 10 companies occupying a significant market share. Consumers are increasingly becoming aware of the latest interior design trends and seeking unique modish furnishings. Other factors contributing to the market growth are brand consciousness and the high penetration of organized retail. The market is expected to continue growing in the coming years.
Another major name in home furniture is IKEA. This Swedish company operates in 51 countries and has grown to become the largest furniture retailer in the world. It specializes in design-driven ready-to-assemble furniture, kitchen appliances, and other accessories. It also sells its products online and through company-owned stores.
Trend-led brands
If you're after affordable home furnishings that are trend-led, you've come to the right place. Urban Outfitters is one of the most popular trend-led home furniture brands, and you'll find plenty of eye-catching pieces on the website. While the brand is probably best known for its clothing, its furniture is also worth checking out. Whether you're looking for a Scandinavian design or a Scandi-inspired low platform bed frame, you're sure to find something here. And if you're not a fan of bold prints and colours, consider the brand's neutral-toned furniture. Its products feature a lot of natural material, such as wood, which makes them the perfect choice for neutral rooms.
Home furnishings are never out of style and design trends will continue to change as customers adopt new lifestyles. However, in the home furnishings industry, there are certain cyclical trends that will shape the market and drive new design trends.
Sustainable furniture
When buying home furniture, it's essential to choose environmentally friendly products. Buying British-made furniture reduces carbon emissions and supports British workers and businesses. It can also be cheaper in the short term. The British Heart Foundation estimates that over a third of UK adults throw away usable furniture each year. This has a significant impact on waste management services.
While there are only a few major players in the sustainable home furniture market in the UK, smaller companies are gaining market share and tapping into new markets. For example, The Furniture Practice, based in Bermondsey, has recently acquired Operandum, and continues to grow its national reach by strengthening its consultancy and procurement practices.
Sustainable home furniture in the UK is possible by choosing products that are made from recycled materials. Some furniture manufacturers are even producing their own ranges of eco-friendly products. For instance, Sebastian Cox uses wood from managed woodlands in Kent. This is harvested through a traditional process called coppicing, in which trees are pruned at ground level and several new stems sprout in the spring. This method not only creates a continuous crop of wood, it also creates an ideal habitat for wildlife. In addition, it also helps reduce carbon emissions.