Furniture, high-end design captures growth more easily

I 2021 value of global market offurniture from design from high range (Core HEDF, “High-end design furnishing”) yes it is certificate to about 40 billion of euro, registration -one recovery post-covid 8 times higher ai other sectors of luxury segment (fashion, cars, experiences) e overcome of 7% that pre-pandemic levels. According toAltagamma-Bain high-end design market Monitor 2022that the sector will grow further as far as share 60 billion of euro in 2026 if he knows understanding quite a few chanceincluding other urbanization of Chinathat opposite pressure of United States to go out Give her town and a plus strong focusus on contract And digital.

The study identifies some macro trends to they will run L ‘development furniture Core HEDF in the next few years. First one growingCocooning” and need from “Self-expression“, at they redesigned (and will continue to redesign) it report of individuals with Their home. These increasingly represent one personal refugeeven considering longer time to it is used at home, and this phenomenon favors the growth of all product categories. In addition, they register one growing hybridization of gapfavored by aexpansion of role of homeen “ruralization of wealth“(Especially in the United States, where an increasing proportion of” people with high net worth “spent outside the big cities is increasing) associated with a secondurbanization“IN Asiaand finally one bigger aesthetic sophistication also in business premises e.g. retail.

According to Matteo Lunelli, Chairman from Altagamma “Advanced design is one of the sectors that responded best to the pandemic crisis, recording 14% growth in 2021 and closing 7% above levels in 2019, thanks to the rediscovery of the domestic dimension. Altagamma-Bain indicates, however, a large development margin for the Italian brands, which are principals with 25% market share and will be able to seize these great opportunities through further management, investment in sustainability and aiming for internationalization in China and the US, both markets with significant real estate development ».

Before of pandemicthat average annual growth of room (+ 4%) er been more moderate compared to other high-end sectors because benefited less of Asian / Chinese consumption and control of the final distribution, essential driving elements, especially for personal luxury and the automotive industry.

In it 2020 there contraction (-6%) var inferior with respect for other luxury sectorsAre you 2021 there recovery is been more crucial: + 7% to a market value of around 40 billion euros: among the best performing luxury segments.

In it next yearthat market offurniture is expected to accelerate compared to its historical growth path: growth of 5-7% per yearfor one expected value from about 50-60 billion of euros within that 2026. It will weigh that role of digital channels (from 7% to 8-10% of the market) that “contract“Managed by companies (10% to 11-13%), a deeper penetration into new markets (primarily the Asian, from 17% to 23%), and a increasing level from customization.

THAT Italian brands represent around 25% of total value of market it yes gifts fragmentedforhigh number from operators mainly specialized in a single macro category (for example, lighting, kitchens, living rooms and bedrooms), which represents about 65-70% of the market.

The trends that will lead the development and growth offurniture from high range they range from a new relationship between people and their own houses, lived as a personal refuge where to spend more and more periods long timewith a on average 3.5 days by week used at home, against 2.6 before Covidfollowed by a continuous hybridization of space: favored by an expansion of the role of the house, where both internal and external environments cross their boundaries.

In it emerging economies (China, Southeast Asia) yes waiting -one second wave from urbanization which can favor growth in the real estate and construction market (a market estimated to grow from 2.6 billion euros in 2015 to 5 billion euros in 2026), with a growing search for refined aesthetics also in commercial and retail premises.

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