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Your top source of business information on the furniture industry and market world-wide by CSIL
CSIL contribution at the 2022 Annual General Meeting of World Furniture Confederation & World Furniture Forum
Alessandra Tracogna, CSIL Partner and Senior Market Researcher, was invited to present the latest data on the status and perspectives of the global furniture market at the 2022 Annual General Meeting of World Furniture Confederation & World Furniture Forum held on October 26th.
During the forum, speakers from different countries shared their knowledge and insights about the global furniture industry focusing on different topics, including innovation & development, market outlook, industrial chain, and sustainable development.
According to CSIL (see ‘The world upholstered furniture industry’ report 2022), world consumption of upholstered furniture is worth nearly US$ 81 billion, recovering from the pandemic-induced contraction and even surpassing 2019 levels by over US$ 10 billion.
In 2021, world upholstery consumption increased by about one-fifth in current US$ compared to the previous year, and by more than one-tenth when compared to 2019.
- The world upholstered furniture industry, June 2022
- Top 100 upholstered furniture manufacturers in the world, October 2022
'CSIL TOP FURNITURE COMPANIES' is a new series of CSIL research insights that focus on the largest companies in the furniture and furnishings market, providing rankings and performance data of firms operating on a global level or by geographical areas.
The aim of this series is to offer a bird's-eye view of the competitive landscape, benchmarking companies performance, level of specialization, relevance in the business and sector concentration.
The new CSIL publication 'Top 100 office furniture manufacturers in Europe' provides a bird's-eye view of the European office furniture competitive system through the analysis of the leading 100 producers benchmarking their performance, their level of specialization, their relevance in the business, and the whole sector concentration.
Anywhere in the world, the high-end furniture segment follows its own patterns, that are partially tied to the development of the whole furniture sector and partially detached from it. At the same time, product innovations and design concepts proposed by high-end furniture manufacturers are pursued by other producers, so the moves of high-end players often impact on the overall industry.
According to CSIL estimates (The world high-end furniture market, June 2022), the world’s high-end furniture market accounts for approximately 10% of the global furniture market, in terms of value.
In the last twenty years, the Ready to Assemble (RTA)* furniture industry has developed fast, in terms of both the industry’s size and the products (support materials, finishing, assembling solutions) and distribution channels (registering a sharp increase in online sales).
According to CSIL, the RTA furniture industry increased by 3% yearly during the period 2016-2021, registering a higher growth rate compared to the performance of the fully assembled furniture production. The weight of the RTA furniture industry increased over time on the whole furniture industry and reached a value exceeding Eur 15 billion.
Source: ‘The European Market for RTA Furniture’ 2022
Invited by the Brazilian Leather project, developed by the Centre for the Brazilian Tanning Industry (CICB) and the Brazilian Trade and Investment Promotion Agency (ApexBrasil), CSIL has been attending the latest edition of this exhibition, taking place in FIERGS Events Center in Porto Alegre between the 19th and 20th of July, to keep an eye on trends in materials for the fashion and design sectors, with special attention to the leather segment.
See more of the exhibition at https://cicb.org.br/brazilian-leather/en/events
According to CSIL, the European furniture market increased by 3% yearly in the last decade. The decrease in 2020 was more than compensated in 2021 with a growth of about 10%, reaching almost Eur 140 billion (at retail prices). In 2021, all the markets surpassed their 2019 market size, thus fully rebounding from the pandemic.
Europe is the second-largest market in the world, coming after the Asia Pacific and before North America, still playing an important role in the global furniture market - if globally benchmarked. However, significant structural changes over the past decades at a world level have severely affected the area, gradually reducing its importance.
Source: CSIL Report 'Furniture retailing in Europe', February 2022
Here’s the latest Furniture industry news from CSIL
- CSIL at Salone del Mobile: ask for a meeting with CSIL experts participating in the Salone del Mobile, the furniture exhibition to be held in Milan on June 7-12
- Outdoor furniture: one of the best performer in the European furniture sector
Soon available at www.worldfurnitureonline.com:
- The world upholstered furniture industry 2022: CSIL is conducting its yearly sector analysis on the global upholstered furniture industry.
- The European market for office furniture 2022: the CSIL yearly report will outline and comment on the main transformations impacting the office furniture industry in Europe and will include all the statistics useful to analyse the current market and the scenario