In 2023, Italy led the European market for young high growth enterprises (gazelles) in household goods wholesale, with a notable 18.71% year-on-year increase, solidifying its dominant position. Hungary experienced the most significant growth at 33.24%, whereas Romania also saw a robust increase at 11.2%. In contrast, the Czech Republic maintained no change from the previous year, while Norway and Latvia experienced declines, with Latvia notably dropping 100%.
Looking ahead, expect Italy to continue as a leader, driven by strong entrepreneurial dynamics. Hungary’s and Romania's growth trends are also worth monitoring for potential market leadership shifts. Watch for potential rebounds in Norway and Latvia as market conditions evolve in 2024.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Household Goods Wholesale Share by Country (Units (Enterprises))
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 37.33 | 2023 | +6.45% | +18.71% | View data |
| 2 | 2 Hungary | 23.76 | 2023 | +5% | +33.24% | View data |
| 3 | 3 Romania | 19.23 | 2023 | +13.33% | +11.2% | View data |
| 4 | 4 Czech Republic | 7.92 | 2023 | 0% | 0% | View data |
| 5 | 5 Lithuania | 4.52 | 2023 | 0% | +14.87% | View data |
| 6 | 6 Norway | 2.26 | 2023 | 0% | -7.79% | View data |
| 7 | 7 Slovakia | 2.26 | 2023 | 0% | +14.87% | View data |
| 8 | 8 Latvia | 1.13 | 2023 | -100% | -100% | View data |
