The European Union's market for wooden office furniture is poised for consistent growth, according to a new report published by IndexBox. The report, EU - Wooden Furniture Of A Kind Used In Offices - Market Analysis, Forecast, Size, Trends and Insights, projects that the market will reach 141 million units and $13.1 billion by 2035, driven by increasing demand across the region.
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The market is forecast to experience a compound annual growth rate (CAGR) of +1.0% in volume and +1.8% in value from 2024 to 2035. 'Driven by increasing demand for wooden office furniture in the EU, the market is forecasted to experience a +1.0% CAGR in volume and +1.8% CAGR in value from 2024 to 2035. By the end of 2035, market volume is projected to reach 141M units and market value to hit $13.1B in nominal prices,' the report states.
Following two years of decline, 2024 saw a significant recovery, with consumption rising 5.5% to 127 million units. Total consumption indicated "perceptible growth from 2013 to 2024," with an average annual rate of +3.4%. In value terms, the market expanded sharply by 9.9% to $10.8 billion in 2024, with an average annual value growth rate of +4.3% since 2013.
Germany, Italy, and Portugal dominated consumption, accounting for 63% of total volume. In particular, Portugal showed exceptional growth with a CAGR of +40.1%. In terms of value, Germany ($3.3B), Italy ($1.9B) and Portugal ($1.2B) led the market, holding a combined 59% share.
Portugal also recorded the highest per capita consumption in 2024, with 2,114 units per 1,000 persons, far exceeding the EU average of 285 units.
Production trends mirrored consumption patterns. In 2024, EU production rebounded to 130 million units after two years of decline. The total production volume had increased at an average annual rate of +2.1% from 2013 to 2024. Value-wise, output rose significantly to $11.3 billion. Germany, Italy, and Portugal again emerged as the largest producers, accounting for 62% of total production.
On the trade side, imports continued to fall for a third consecutive year. In 2024, EU imports of wooden office furniture declined by 13.4% to 12 million units, valued at $859 million. Greece demonstrated the strongest growth among importers, with a CAGR of +34.5% in volume and +20.5% in value.
Conversely, exports also faced challenges, shrinking by 20% to 14 million units in 2024. Value terms dropped significantly to $1.3 billion. Poland, Italy, and Lithuania led exports, collectively representing 44% of total export value. Greece recorded the highest growth in export value, with a CAGR of +38.8%.
The report highlights, 'In 2024, the export price in the European Union amounted to $92 per unit, therefore, remained relatively stable against the previous year,' despite fluctuations across exporting countries.
More information:
IndexBox Market Intelligence Platform
www.indexbox.io