United Kingdom furniture manufacturing makes a significant contribution to the United Kingdom economy. United Kingdom is the second home furniture consumer in Western Europe. United Kingdom furniture distribution is the highest share of non-specialist retailers. Growth is also likely to be boosted by an increase in demand from the housing market, expanding online operations and the addition of value-added services. Rising disposable income, changing lifestyles and technological innovations are few drivers behind the growth of United Kingdom furniture market. The technological advancement in the product landscape of the company will help in gaining high furniture market penetration.
Key Market Trends
Increasing Construction Activities is Driving the Market
United Kingdom plays a key role in the European furniture industry. The growth of the real estate sector and increasing residential and commercial construction are some of the factors expected to drive market growth. The major drivers for the growth of this market are increasing construction activities and rising infrastructure due to the increasing urbanization and growing population. Increase in the number of single-person and two-person households has contributed to the increased number of home constructions. There exists a specifically high demand for portable and compact furniture. Growth in both, housing and commercial development will have a positive effect on furniture demand, driven by the need to furnish new constructions.
Living Room and Dining Room Furniture Segment
The Living Room and Dining Room Furniture segment includes furniture found in living rooms, parlours, lounges, lobbies, and dining rooms. The rising purchasing power of households along with the change in lifestyle, as well as the increasing trend of purchasing the living and dining room furniture through an online channel, are expected to drive the growth of the market. The increasing demand for premium furniture is also one of the key drivers of the market.
The report covers major international players operating in the United Kingdom Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.