The production value of office and shop furniture in the UK has experienced fluctuations over the past decade, reaching 2.03 billion Euros in 2023. From 2013 to 2015, the market showed positive growth, peaking at 3.01 billion Euros in 2015. However, significant declines from 2016 to 2017 led to a more volatile market. While there was a slight recovery from 2018 to 2021, the market again faced a downward trend, dropping to 2.03 billion Euros in 2023. The year-on-year decline for 2023 was 1.26%, with a CAGR of -1.47% over the past five years. Looking forward, the forecast indicates a continuous decline, reaching 1.89 billion Euros by 2028, with a projected 5-year CAGR of -1.09% and a growth rate of -5.33% over five years.
Future trends to watch for:
- Shifts towards flexible and remote working arrangements impacting demand for traditional office furniture.
- Growing emphasis on sustainable and ergonomic furniture designs.
- Potential disruptions in global supply chains affecting production and costs.
