Russia Home Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Russia Home Furniture Market Analysis
The demand for furniture dropped in 2020 as offices, schools, and restaurants temporarily closed to limit the spread of COVID-19. Companies moved to conserve cash and slash overhead expenses in this uncertain economic environment, lowering business and institutional furniture demand.
One of the major drivers of the industry's growth is the boom in the construction industry over recent years. The main sales channels are multi-brand shopping centers, mono-brand stores, and small independent retailers.
Online shopping is becoming more popular day by day in Russia. One of the main reasons for the growth of the e-commerce channel is the opportunity to choose among different brands worldwide. The improvement in the logistic services is helping the growth of the channel. One of the reasons for the growing demand for furniture in Russia is the import of high-quality furniture from China at a low price.
Russia Home Furniture Market Trends
This section covers the major market trends shaping the Russia Home Furniture Market according to our research experts:
E-Commerce in Furniture and Appliances Market of Russia
Russia has a large, fast-growing, open furniture market with about 142 million inhabitants. Revenue from the furniture and homeware market in Russia stood at one billion U.S. dollars in 2020. By 2025, this segment's revenue is estimated to reach 1.5 billion dollars. With an increase of 16%, the Russian eCommerce market contributed to the worldwide growth rate of 29% in 2021. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development.
Increase in Disposable Income is Driving the Market
A key driver fueling the market's growth is the rising standard of living, leading to the increased introduction of premium products. The country's developed and developing areas are witnessing growth in the population of high net-worth individuals and a gradual increase in the preference for a luxurious lifestyle. With an increase in disposable income, the consumers spending capacity and expenditure on luxury goods and services are increasing. In Russia, the furniture market generated approximately 29.4 billion U.S. dollars in 2020. According to the Consumer Market Outlook, the revenue of this market will increase to roughly 41.8 billion U.S. dollars by 2025.
Russia Home Furniture Industry Overview
The report covers major international players operating in the Russian home furniture market. In terms of market share, few 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 tapping new markets.
Russia Home Furniture Market Leaders
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Kuchenberg
-
IKEA
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BOROVICHI-MEBEL CJSC
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Marya Furniture Factory
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KARE Voronezh
*Disclaimer: Major Players sorted in no particular order
Russia Home Furniture Market News
- On April 6, 2022, Ingka Group, the owner of most IKEA stores worldwide, bought nine solar photovoltaic (PV) park projects in Germany and Spain for a total of EUR 340 million (USD 373 million) in its push to generate more renewable energy than it consumes.
Russia Home Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID 19 on the Industry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Kitchen Furniture
5.1.2 Living Room and Dining Room Furniture
5.1.3 Bedroom Furniture
5.1.4 Other Furniture
5.2 By Distribution Channel
5.2.1 Supermarkets & Hypermarkets
5.2.2 Specialty Stores
5.2.3 Online
5.2.4 Others
6. COMPANY PROFILES
6.1 BOROVICHI-MEBEL CJSC
6.2 MIAS Furniture
6.3 IKEA
6.4 Furniture Factory Shatura OJSC
6.5 Stolplit-Rus OOO
6.6 Maria Furniture Factory
6.7 KARE Voronezh
6.8 Kuchenberg
6.9 Herman Miller
6.10 MK Shatura AO
6.11 Lazurit furniture*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Russia Home Furniture Industry Segmentation
The report's scope is a complete background analysis of the Russian home furniture market, including an assessment of the parental market, emerging trends in the segments and regional markets, and significant changes in market dynamics and market overview. The Russian Home Furniture Market is segmented by Type (Kitchen Furniture, Living-room and Dining-room Furniture, Bedroom Furniture, and Other Furniture) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online, and Others).
| By Type | |
| Kitchen Furniture | |
| Living Room and Dining Room Furniture | |
| Bedroom Furniture | |
| Other Furniture |
| By Distribution Channel | |
| Supermarkets & Hypermarkets | |
| Specialty Stores | |
| Online | |
| Others |
Russia Home Furniture Market Research FAQs
What is the current Russia Home Furniture Market size?
The Russia Home Furniture Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Russia Home Furniture Market?
Kuchenberg, IKEA, BOROVICHI-MEBEL CJSC, Marya Furniture Factory and KARE Voronezh are the major companies operating in the Russia Home Furniture Market.
What years does this Russia Home Furniture Market cover?
The report covers the Russia Home Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Russia Home Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Russia Home Furniture Industry Report
Statistics for the 2024 Russia Home Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Russia Home Furniture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
