Growth of 5% in the UK Furniture Fittings market in 2015

The UK market for furniture and cabinet fittings is estimated to have seen 5% growth by value in 2015, according to a new report released by AMA Research. The sector has benefited from growth in recent years within the domestic furniture market, particularly the kitchen furniture sector, as consumer confidence has increased and the general economic situation has improved. The market has seen solid average growth of 3-4% on an annual basis since 2011.

As well as good growth in some key end use sectors, the furniture fittings sector has also been supported by ongoing product development by suppliers, the trend 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, although this share is significantly higher in some sectors. The kitchen furniture market accounts for the largest share of the furniture fittings market with estimated sales representing 62% of the market, compared to an estimated 15% in the bedroom sector and 11% in the dining and occasional furniture sector. The kitchen furniture market is at the mature stage of its product lifecycle, with replacement sales currently accounting for over 75% of sales.

In terms of product mix, hinges form the major product sector, with sales estimated to account for 37% of the market by value, followed by interior fittings and drawer systems, with handles, knobs and miscellaneous products accounting for smaller shares of the market. Although no separate figures are available for imports of furniture fittings, it is estimated that they account for a significant share of the market, with major suppliers importing products from their overseas parent companies, or from subsidiaries abroad.

“Going forward, the market for furniture fittings is forecast to show good growth of 4-5% per annum between 2016 to 2020, with growth likely in all product sectors” said Keith Taylor, Director of AMA Research. “Key drivers include reasonably positive economic conditions compared to the last five years, and the need for a significant increase in housing construction should provide strong demand for domestic furniture and fittings.”

In addition to the demand created by rising sales in the domestic furniture market, the manufacturers and suppliers of furniture fittings are likely to provide added value to their market sector by developing new and improved products. Particular product areas where development is likely to take place include interior storage solutions, driven by space limitations in modern housing in the UK and equipment for disabled and less mobile customers, as the population demographics move towards an ageing population.

The ‘Furniture Fittings Market Report – UK 2016-2020 Analysis’ report is published by AMA Research, a leading provider of market research and consultancy services within the construction and home improvement markets. The report is available now and can be ordered online at www.amaresearch.co.uk or by calling 01242 235724.