Furniture Manufacturing Market in Bulgaria 2016-2020

Outlook of the furniture manufacturing market in Bulgaria

According to Technavio’s market research analyst, the market for furniture manufacturing in Bulgaria will grow steadily and will be positively affected by changing consumer preferences. Over the past two years, it has been observed that the consumers of furniture in Bulgaria are purchasing low and medium-priced products as opposed to premium furniture products, which were in substantial demand before the global economic crisis of 2008. Manufacturers of such products are focusing on enhancing their production processes to increase productivity and lower costs, along with expanding their portfolios. This has opened up new growth opportunities for manufacturers of furniture operating in this price segment. A comprehensive market study carried out by the analysts at Technavio has shown that the market for furniture manufacturing in Bulgaria will grow at a CAGR of over 5% by 2020.

The augmented demand for wood-based panels is another factor spurring growth in this market. Wood-based panels are being extensively used as raw materials for the production of furniture in Bulgaria. Consequently, the demand for solid wood has decreased. The recent increase in the demand for wood-based panels from furniture manufacturers is also because of their low price, especially when compared to sawn wood. Since wood-based panels offer ease-of-assembly to furniture manufacturers, the manufacturing costs for vendors will also decrease.

Competitive landscape and key vendors

This market is marked by the presence of diverse international and regional manufacturers. However, as international players have established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially on the basis of quality, technology, and pricing. The competitive environment in this market will likely intensify further with an increase in product/service extensions, technological innovations, and M&A activities.

Key manufacturers in this market are -

• Avgusta Mebel
• Bonana
• Dabora
• Elma 13
• Evrika Furniture Factory
• Furniture Factory Meblex
• Gadevski
• Gold-Apolo
• Hegra D
• Interior 46 Design
• Karabulev
• Kronos Mebel
• Mebel Stil
• Mebex
• Nicoletti
• Pantadesign Studio
• Retroujut – Aksaga
• Rikostyle
• Teoharovi
• Valiyan

Product-based segmentation analysis of the furniture manufacturing market in Bulgaria

• Office and shop furniture
• Mattresses
• Kitchen furniture

According to this market analysis, the office and shop furniture segment accounted for a market share of over 12% and will lead the market in terms of revenue over the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the furniture manufacturing market in Bulgaria?
• What are the key market trends impacting the growth of the furniture manufacturing market in Bulgaria?
• What are the challenges to market growth?
• Who are the key vendors in the furniture manufacturing market in Bulgaria?
• What are the market opportunities and threats faced by the vendors in the furniture manufacturing market in Bulgaria?
• Trending factors influencing the market shares of Bulgaria.
• What are the key outcomes of the five forces analysis of the furniture manufacturing market in Bulgaria?

Technavio also offers customization on reports based on specific client requirement.

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