Home Furniture Market 2021 Current Trends, Rising Demand and Top Key Players – Ikea, Ashley Furniture Industries, Inc., Heritage Home Group

Home Furniture Market - Growth, Trends, And Forecast (2020 - 2025)

The report presents an in-depth assessment of the Home Furniture including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Home Furniture investments from 2020 till 2025.

The Home Furniture market is highly competitive and consists of a number of major players. Top Companies like Ikea, Ashley Furniture Industries, Inc., Heritage Home Group, La-Z-Boy, Godrej Interio, Stanley Furniture, Ethan Allen, Bernhardt, Flexsteel, Nitori Co Ltd

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Scope of the Report

The global market is highly adaptive as per the changing trends and observes increasing competition from new entrants. The number of single- and two-person households has been increasing, resulting in the demand for small and portable furniture. Consumers have also been looking for furniture that is multi-purpose, foldable, and technology-driven, especially when it comes to living in smaller spaces.

June 2018, Herman Miller acquired 33% stake in Nine United Denmark A/S. The other strategies observed in the industry include new product development and distribution network expansion to enhance business revenues.

Key Market Trends

Bedroom Furniture Segment

The rising demand for multifunctional furniture is expected to bolster the growth prospects of the bedroom segment. With an expanding global population, the real estate prices have plummeted significantly in most parts of the world, especially in cities and urban areas. This has led to a considerable reduction in house sizes. As rooms are getting smaller, customers are increasingly looking for furniture that is compact and easily movable to allow for efficient use of the available space. To cater to such requirements, the vendor companies have introduced multifunctional furniture with storage facilities. Most modern furniture products, like tables and beds, come with additional storage spaces.

Living Room and Dining Room Furniture Segment

This market segment includes furniture used in living rooms, parlors, lounges, lobbies, and dining rooms. This segment includes sofas, chairs, coffee and dining tables, bookshelves, and other pieces of furniture for storage. The global home furniture market focuses on furniture that is made primarily of wood and used in living and dining rooms. It includes a bar, coffee, and other occasional side tables, dining and buffet tables, TV and media stands, bookshelves, wine, and other cabinets, chests, and other living and dining room storage furniture.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Home Furniture Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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