Furniture Market Projected To Display A Robust Growth With a CAGR of 3.5% By 2025

Allied Market Research published a report, titled, Furniture Market by Type (RTA, Residential, and Commercial), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-Commerce, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. According to the report, the global furniture market garnered $583.15 billion in 2017 and is expected to reach $800.59 billion by 2025, registering a CAGR of 3.5% from 2018 to 2025.

The report provides a comprehensive analysis of the furniture market covering details on research methodology, market size and share, market dynamics, market classification, and company profiles. The report serves as a vital tool for stakeholders such as market players and investors as it helps them identify the opportunities in the field and provides them with accurate data that empowers smart decision making.

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The report offers an analysis of the market dynamics which include the growth drivers, restraints and opportunities. Rise in consumer disposable incomes, growth of real estate and hospitality industries, demand for luxury and premium furniture from certain consumer sections and increase in government investments in infrastructural development drive the growth of the market. However, rise in raw material price and environmental restriction associated with deforestation restrict the growth of the industry. Conversely, emerging new species of wood tree for furniture manufacturing and marketing through the internet and development of automated manufacturing system offer new opportunities for the growth of the market.

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The report offers a broad segmentation of the global furniture market. It segments the market into type, distribution channel, and region. Based on type, the market is classified into RTA, residential, and commercial. The residential segment contributed nearly half of the total market share in 2017 and will maintain its dominance through 2025. The distribution channel segment is divided into supermarkets & hypermarkets, specialty stores, e-commerce, and others. The specialty stores segment is expected to maintain its lead position through 2025. The report covers the market study for the regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to register the highest CAGR of 5.7% through 2025.

The report also includes an analysis of the leading players operating in the furniture market. They include Haworth, Inc., Inter IKEA Systems BV, Steelcase Inc., Masco Corporation, HNI Corporation, L. & J.G. STICKLEY, INC., Kimball International, Inc., Okamura Corporation, Heritage Home Group LLC, and Durham Furniture Inc.

Full Report Summary: https://www.alliedmarketresearch.com/furniture-market

Luxury Furniture Market: https://www.alliedmarketresearch.com/luxury-furniture-market

Source: https://www.globenewswire.com/news-release/2019/03/20/1757824/0/en/Furniture-Market-is-Likely-to-Grow-at-the-CAGR-of-3-5-from-2018-to-2025.html

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