Italy Furniture Market Shipment Analysis
Italy Furniture Market registered a growth of 1.44% in value shipments in 2022 as compared to 2021 and an increase of 4.83% CAGR in 2022 over a period of 2017. In Furniture Market Italy is becoming less competitive as HHI index in 2022 was 1001 while in 2017 it was 977. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Italy has reportedly relied more on domestic production to meet its growing demand in Furniture Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Furniture Market in 2022 was 0.17 while in 2017 it was 0.16. Poland, China, Romania, Germany and France were among the top players of the market in 2022, where Poland acquired the largest market share of 17.19% with a shipment value of 153.21 million USD in 2022 Poland also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Furniture Market. In 2017 China had the largest market share of 18.26% with the shipment value of 120.86 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
