CSIL has recently released World Furniture Magazine #01, the inaugural edition of CSIL’s new digital quarterly publication. Themed on the latest updates from the Furniture and Lighting industry, the magazine provides economic insights and market analysis.
Some highlights include:
World Furniture Outlook 2024: According to CSIL, in 2024, a decline in consumer confidence and weakened furniture demand are expected. Globally, furniture consumption is forecasted to experience a slight decrease in real terms in 2024, with a potential resume in 2025.
India emerges as the fourth-largest furniture market globally, soaring from 10th place a decade ago to a value of approximately US$ 19 billion in 2023. With robust economic growth in 2023 and anticipated continuity in 2024, India’s furniture sector remains a force to reckon with.
Market intelligence: With a value of around EUR 110 billion, the European furniture market accounts for over one-quarter of the global one. The kitchen furniture industry in 2023 reached a total production value of US$ 62 billion, around 13% of total world furniture output.
Focus on Sustainability: From European furniture companies embracing the green transition to initiatives driving mattress traceability, explore the latest developments in sustainability across the industry.
From trend talks to the impact of high inflation on European SMEs, the magazine presents additional insights and contributions enriching industry understanding.
Download World Furniture Magazine #01!
