Between 2013 and 2015, the office and shop furniture market in Belgium experienced significant growth, with a notable peak in 2015. However, the market faced a sharp decline in 2016, continuing to decrease until hitting a low in 2017. Subsequent years showed some recovery, albeit modest and inconsistent. In 2023, the market stood at €385.9 million, highlighting a marginal decrease from the previous year, reflecting ongoing instability. The compound annual growth rate over the past five years shows a decline of 1.04%.
Forecasts suggest a continued downward trend, with the market expected to decline at a CAGR of -2.6% over the next five years, potentially decreasing to €328.1 million by 2028. The projected five-year growth rate is -12.32%, suggesting further contraction in the market.
Future Trends to Watch For:
- Impact of remote work on office furniture demand.
- Increasing focus on sustainable and ergonomic furniture.
- Potential market shifts due to technological advancements and hybrid work models.
- Competitive pressures from global suppliers and e-commerce platforms.
