Luxury Furniture Market Growing at CAGR of 4.1% with top key Players like- Muebles Pico, Valderamobili, Giovanni Visentin, Scavolini
Presently, Europe is the largest market for luxury furniture followed by North America. The market in the Asia Pacific holds a great potential with lucrative prospects in the domestic market. A rise in disposable incomes, in the recent years, majorly contributes to the growth of the APAC market. The LAMEA region would also follow suit owing to the high demand for luxury furniture in its hospitality sector.
Luxury Furniture Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $27.01 billion by 2020, registering a CAGR of 4.1% during the period 2015-2020. Asia Pacific would witness the fastest growth, owing to the rise in disposable incomes. Wooden luxury furniture has gained substantial demand worldwide, followed by metal. The high acceptance of wooden furniture is primarily due to durability and the modern yet antique look, which makes it a good fit for both household as well as the commercial usage.
Make Purchase Report Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/645?utm_source=openpr&utm_medium=vs
The demand for wood furniture is highest in the global market due to high aesthetics value associated with it. The glass furniture segment is expected to witness the fastest growth through 2020, catalyzed by its growing demand in the corporate and hospitality sector. The plastic furniture segment would grow at the slowest pace during the forecast period due to the environmental concerns associated with plastic degradation and its lack of aesthetic value, as compared to other materials.
The leather furniture segment would grow at a considerable pace; however, the growth of this segment would be restricted due to its limited use in sofas and ottomans. Additionally, stringent government regulations on the import of leather largely restrain the market growth of this segment. Eco-friendly furniture and multifunctional furniture have gradually gained popularity. Growing environmental awareness and space constraints in urban regions, are key factors that drive the adoption of this furniture in the global market.
The domestic sector contributed nearly two-third of the global luxury furniture market revenue in 2014. The furniture used in living rooms and bedrooms, hold the highest demand in the domestic sector. The commercial sector is a comparatively smaller market, which is primarily governed by the hospitality sector. A large presence of upscale hotels, commercial infrastructures and a booming hospitality industry, arising from an increasing pace of foreign investments in the Middle East, account for the dynamic growth of the luxury furniture market in the commercial sector. Additionally, growth in the hospitality and tourism sector, especially, in cities such as Abu Dhabi, Doha, Dubai, Jeddah, Muscat and Riyadh, exhibits a dynamic market for the commercial luxury furniture.
Key findings of the Luxury Furniture Market:
• The wood luxury furniture segment leads the market with about 24% market share in 2014 and is estimated to dominate the market throughout the forecast period. However, the metal luxury furniture segment would witness a comparatively higher growth rate
• The domestic end user segment would continue to dominate the global market over the forecast period
• The market for luxury furniture in the lighting segment would grow at a CAGR of 8.3% during 2015 - 2020
• The hospitality sector within the commercial user segment would exhibit a steady demand for luxury furniture, registering a CAGR of 3.4% during 2015 - 2020
Domestic manufacturers in the luxury furniture market such as Laura Ashley, Scavolini, Giovanni Visentin and Muebles Pico largely focus on manufacturing stylish luxury furniture products with high quality raw materials.
Thus, the companies in the luxury furniture market largely compete on the aspect of aesthetic value. New product launch complimented with innovative design is the key strategy adopted by companies. In addition, the prospects in e-commerce platforms would also help the market players in expanding their geographic presence, which, in turn, would boost the overall market growth.
Download free Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/645?utm_source=openpr&utm_medium=vs
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Luxury Furniture Market Growing at CAGR of 4.1% with top key Players like- Muebles Pico, Valderamobili, Giovanni Visentin, Scavolini here
News-ID: 1578732 • Views: 183
More Releases from Allied Market Research
North America Geogrid Market 2020 Segmentation, Demand, Growth, Trend, Opportuni …
According to the report published by Allied Market Research, the North America geogrid market generated $282.0 million in 2019, and is estimated to reach $408.25 million by 2027, registering a CAGR of 7.0% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios. Surge in infrastructure development activities across the U.S. and Mexico and superior physical properties
Intravenous Immunoglobulin (IVIG) Market 2020 In-Depth Analysis of Industry Shar …
Global intravenous immunoglobulin market accounted for $8,995 million in 2017, and is projected to reach $15,964 million by 2025, registering a CAGR of 7.5% from 2018 to 2025. Immunoglobulin (Ig) is a plasma-derived product, which is obtained from the serum of healthy donors. The isolated plasma product is clinically treated and purified to Ig, which can be further used in the treatment of patients with antibody deficiency. Intravenous immunoglobulin (IVIG) finds
Asthma and COPD Drugs Market Is Expected to Witness a Steady Growth by 2026
"Asthma and COPD Drugs Market by Disease and Medication Class - Global Opportunity Analysis and Industry Forecasts, 2014-2022", projects that the global market for Asthma and COPD Drugs was valued at $38,960 million in 2015 and would reach $50,359 million by 2022, registering a CAGR of 3.7% from 2016 to 2022. Asthma segment dominated the market in 2015 and expected to continue its dominance throughout the forecast period. North America
Synthetic Biology Market in Global Industry by Top Companies, Type and Applicati …
Global Synthetic biology market is forecast to reach $38.7 billion by 2020, at a CAGR of 44.2% during the forecast period (2014 - 2020). Europe occupies largest share in the global market and would hold-on to its position throughout 2020. However, Asia Pacific is the fastest growing market with a CAGR of 46.4% from 2014 - 2020. Read Full Report @ https://www.alliedmarketresearch.com/synthetic-biology-market Synthetic biology is at a nascent stage and has recently
More Releases for Luxury
Luxury Diaries & Organisers
ANTORINI Breath-taking diaries for 2017 We have discovered the most beautiful and stylish 2017 diaries for you. Enter the world of beautiful scheduling. The new collection of leather diaries for 2017 bears the signs of beauty and perfection. It combines the sense of practical scheduling and attractive timeless design. You can find diaries with gold plating, different shapes, colours and surfaces in the new exclusive collection of the prestigious ANTORINI brand. Diaries
New to Luxury
When it comes to luxury, people only think of luxury products or classy lifestyle. To get everything there is always a small bit to count. New to luxury is an online magazine dedicated to luxury approaching all the topics making life of luxury: health efforts, food style, art & design, high tech, shopping, simple tips and tricks to ease the life. Developing the spirit of the brand luxury in common man’s life.
Luxury Portfolio International™ Connects With Luxury Consumers
CHICAGO – (8/29/11) – As interest in the luxury real estate market continues to increase, Luxury Portfolio International™ is responding by showcasing their high end properties through international events and in venues around the world. Approaching the fall season, Luxury Portfolio International™ is hosting a series of member-facing Fall Workshops, first in Chicago followed by Providence, Rhode Island, September 6-7th. Network brokers, managers, marketing and relocation professionals from across
Gordon’s Luxury Tasting
Gordon’s Luxury Tasting Gordon’s Fine Wines & Liquors Hosts Annual Luxury Tasting with Horizon Beverages! Join Gordon’s Fine Wine & Liquors for their annual, luxury wine tasting with Horizon Beverages, the largest wine, beer and liquor distributor in New England, for a complimentary tasting of wines that you’ve always dreamed of drinking.
Luxury shower panel Aqvaplana
The AQVAPLANA shower panel, completely designed in solid marine Okumè type wood, takes a departure from the mainstream world of sanitary fixtures, which doesn't contemplate the use of wood in direct contact with water for an extended time. The perceptive intuition of creating a shower panel which makes use of wood, normally employed in the building of boats and further protecting it with special marine type varnishes, actually brings the
Luxury Jewelry That Impress...
Are what 1001 Mouse is all about, and our line of gift ideas includes "gift certificates" for those that are "difficult to buy for". Searching for Luxury Jewelry can be... Frustrating and Time Consuming... - Luxury Jewelry at http://jewelry.1001Mouse.com are the finest, most memorable and unique Luxury Jewelry found anywhere! Gift ideas of 14 Karat Luxury Jewelry are absolutely, positively, Luxury Jewelry is THE BEST gift imaginable for either men or