From 2013 to 2019, Finland's furniture manufacturing turnover showed significant fluctuation, with initial declines followed by a recovery period peaking in 2019. However, from 2020 onward, the turnover began a slight but consistent downward trend. In 2023, the value stood at 1.24 billion Euros, reflecting a year-on-year decrease of 0.71%. The Compound Annual Growth Rate (CAGR) over the last five years also indicated a slight decline of -0.079%.
Looking ahead, the forecasted data from 2024 to 2028 suggests a continued slight decrease in turnover, with the five-year CAGR projected at -0.57% and an overall forecasted growth rate of -2.8% by 2028.
Future trends to watch for:
- Impact of economic conditions on consumer spending.
- Technological advancements and automation in manufacturing processes.
- Shift towards sustainable and eco-friendly furniture production.
- Global supply chain influences and raw material availability.
