Report Explores the Global Furniture Market Size, Demand, Growth, Analysis and Forecast to 2024

The Furniture Market’s segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR’s report also covers drivers and restraints in the furniture market.

Infinium Global Research’s report covers the annual growth of the Global furniture market. It also includes chapters on the Global furniture industry trends, geographic analysis, and competitive landscape.
The top key players included in the furniture market report are Wipro Furniture Business, Kinnarps AB, Creativewood, IKEA Systems B.V., Godrej & Boyce, Williams-Sonoma Inc, KOKUYO Co., Ltd., Herman Miller, Inc., Steelcase Inc., Ashley Home Stores, Ltd., and HNI CORPORATION.

The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.

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Furniture Market: Market Insight

Furniture is accessories that are used intended to support various human activities and make life comfortable. It includes chairs, stools, sofas, tables, beds and several others. It is used for supporting human activities such as sleeping, sitting, lying down, eating and relaxing. Furniture is part of decorative art. It can be made from various material such as wood, metal, and plastic.

Furniture Market: Drivers and Restraint

The development in the commercial and residential sector and rapid growth of metro cities is changing the living standards and lifestyle of the population are a major factor driving the demand furniture market during the forecast period. In addition, growing trends of home furnishing with stylish furniture and home décor is another key driver escalating demand of furniture market. Moreover, a government initiative to provide housing for all also provides growth opportunities for the market. Rapid growth in cafes and restaurants is boosting the growth of the market. However, the high cost of raw materials could hamper the growth of the furniture market. Going further, growing popularity among consumers related to online and mobile shopping is anticipated to create lucrative opportunities for furniture market during the forecast period.

Furniture Market: Segmentation

Furniture market is bifurcated into type, application, and material. By type, the global furniture market is segmented into chairs and dining tables, beds, sofas set, cupboards, kitchen shelves, office desk, door & door panels, window frames, and others. Chairs segment is expected to be the largest market share in terms of revenue. The growing demand for chairs in both domestic and commercial segment is driving the growth of the chairs segment.

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Furniture Market: Regional Insights

Among the regions, Asia Pacific is accounted to be the largest share in the furniture market during the forecast period. Rapid population, improving the standard of living coupled with disposable income are some factors responsible for the growth of the furniture market in the Asia Pacific region. In the Asia Pacific region, China, India, South Korea, and Japan are the leading furniture markets. Moreover, government spending on public infrastructure also boosts the furniture market growth. The North America region is estimated to expand at the highest CAGR over the forecast period. Moreover, consumer inclination towards purchasing luxury furniture and growing popularity of online distribution channel are some factors catalyze the demand for furniture market in the North America region.

Furniture Market: Competitive analysis

The furniture market is a highly fragmented market with a large number of international and local players. The key players in this market include Wipro Furniture Business, Kinnarps AB, Creative wood, IKEA Systems B.V., Godrej & Boyce, Williams-Sonoma Inc., KOKUYO Co., Ltd., Herman Miller, Inc., Steelcase Inc., Ashley Home Stores, Ltd., and HNI CORPORATION. Product innovation is the key parameter to remain competitive and to gain greater market share. For instance, Kinnarps AB launched stained ash in eleven characteristic colors. These eleven ash stains are exclusive to Kinnarps and were selected in collaboration with leading architects and interior designers.

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Reasons to Buy this Report:

• Comprehensive analysis of global as well as regional markets of the furniture.
• Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
• Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
• Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

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