Market Trends of UK Furniture Industry
Increasing Real-Estate Industry is Driving the Market
The United Kingdom plays a vital 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 development of this market are increasing construction activities and rising infrastructure due to the increasing urbanization and growing population. The increase in single-person and two-person households has contributed to increased home construction. There exists a specifically high demand for portable and compact furniture. Housing and commercial development growth is expected to positively affect furniture demand, driven by the need to furnish new constructions.
Export of Furniture from UK Driving the Market
Export of furniture from United Kingdom is driving the market. In previous year, the UK exported wooden furniture more than 50 million U.S. dollars worth for office use. 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 export growth of the market. The increasing demand for export of furniture is also one of the key drivers of the market.
