Household expenditure on household appliances in Finland has shown varied trends over the past decade. From 2013 to 2016, there was a noticeable decline, with year-on-year decreases ranging around -1.75% to -0.67%. However, starting from 2017, there was a recovery with positive year-on-year growth, peaking in 2020 with a significant increase of 11.31%. By 2023, the expenditure reached 1120 million euros, showing a modest increase of 1.72% from the previous year.
For the past five years (2019-2023), the compound annual growth rate (CAGR) stood at 3.63%, indicating a healthy growth trajectory. Forecasts for 2024 to 2028 predict a slower but steady growth with a forecasted CAGR of 1.27%, culminating in a projected expenditure of 1210 million euros by 2028.
Future trends to watch for in the household appliance market include the impact of technological advancements, such as smart home integration, and sustainability initiatives influencing consumer purchases. Additionally, economic factors and consumer confidence will play pivotal roles in shaping household expenditure trends.
