At a meeting of EFIC (The European Furniture Industry Association) last week, figures from a number of European countries were presented for market and industry development in 2024, as well as expectations for 2025. According to Norsk Industri the Norwegian market for furniture and interiors is somewhat better than most European ones. Figures presented at the EFIC meeting show a decrease of -3 to -9 percent in most European countries. 2025 will be better, but there's not much growth to be seen.
Photo: EFIC.
'Most markets in Europe are set to decline in 2024,' says Egil Sundet, branch manager at Norsk Industri Designindustrien & Teko. 'The development that is reported is a change from -3 percent to -9 percent decline in furniture sales, only in Italy a small nominal growth of just over 1 percent is reported.'
He continues: 'In Norway, we do not have figures for the market, but based on figures for imports and messages from the member companies, it appears that there is growth in the market in the second half of the year in perhaps all categories. Small furniture and interior goods seem to have a better development than more capital goods. The first half of 2024 was weak, and for the year as a whole there may be a small growth, but the direction into 2025 is positive,' says the industry manager.
'Furthermore, real wage growth and the expected reduction in interest rates at the start of 2025 will increase purchasing power, and unlike many other European countries, we have low unemployment. This will increase demand. With regard to the export of furniture and interior products, it appears to be slightly positive for the year as a whole. After falling in the first half of the year, exports have gradually improved throughout the autumn.
'For Germany, which is our most important export market, there will be a decline in 2024 of 7-9 percent. In the first 8 months, there is a decrease of 9 percent, but growth is reported in the last few months. While furniture for the home and kitchen furniture are going strong, there is only a slight reduction in sales for mattresses and contract furniture. For 2025, our German sister association reports that there will be less decline, at best zero growth.'
'Another important market is Sweden, where the sale of furniture products looks set to fall by 6 percent in 2024. In the first 8 months, imports to Sweden have fallen by 8 percent and exports from Sweden have fallen by 6 percent. For 2025, they believe that there will most likely be a small growth. The Netherlands reports -7 percent in 2024 and has expectations of a weaker fall in 2025. In France, the figures are -7/8 percent decrease in 2024, and they expect a change in 2025 of between 0 and -5 percent decrease.'
More information:
Norsk Industri
www.norskindustri.no