The UK furniture and cabinet fittings market grew by around 5% last year and is predicted to continue growing at around that rate until 2020.
The ‘Furniture Fittings Market Report – UK 2016-2020 Analysis’ by AMA Research predicted that the furniture and fittings sector would grow by 4-5% a year between 2016 and 2020.
This is against a backdrop of growth over the past few years, particularly in the kitchen furniture sector. This has been attributed to increased consumer confidence and the improved economy.
On average, the market has seen 3-4% annual growth since 2011.
The report also found this growth had been supported by ongoing product development by suppliers, the trends towards more storage facilities in the home, trading up to soft close drawers, along with a wider range of specialist equipment designed for elderly or disabled householders.
The furniture fittings sector accounts for around 6% of the total domestic furniture market. The kitchen furniture market holds the largest share of the furniture fittings market with 62% of sales, compared with 15% of the bedroom sector and 11% of the dining and occasional furniture sector.
“The market for furniture fittings is forecast to show good growth of 4-5% per annum between 2016 to 2020, ” said Keith Taylor, director of AMA Research. “Key drivers include positive economic conditions and the need for a significant increase in housing construction should provide strong demand for domestic furniture and fittings.”