Luxury Furniture Market 2021-2026: Size, Analysis, Demand, Growth and Report

According to the latest report by IMARC Group, titled "Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global luxury furniture market reached a value of US$ 25.4 Billion in 2020. Looking forward, IMARC Group expects the global luxury furniture market is expected to grow at a CAGR of around 5% during 2021-2026.

Luxury furniture refers to the movable pieces of furniture made and designed with expert craftsmanship, high-quality material, and zero margins for error. Luxury furniture enhances the interior aesthetic value of residential and commercial establishments, such as hotels, offices, restaurants, and other outdoor and indoor spaces.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Luxury Furniture Market Trends:

Considerable growth in the real estate industry is primarily driving the demand for luxury furniture across both the residential and commercial sectors. Furthermore, the inflating disposable incomes have inclined the consumers towards purchasing luxury items that act as a status symbol and add value to space, thereby catalyzing the global luxury furniture market. Additionally, the growing working women population leading to the increasing financial independence is also propelling the demand for luxury furniture. Various other factors, including the emergence of eco-friendly luxury furniture, elevating levels of globalization, and rising number of modern housing infrastructures, are expected to further drive the global market for luxury furniture in the coming years.

Key Market Segmentation:

Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
• Duresta Upholstery Limited
• Valderamobili s.r.l.
• Scavolini S.p.A.
• Giovanni Visentin S.R.L.
• Nella Vetrina
• Muebles Picó S.A.
• Heritage Home Group LLC
• iola Furniture Limited
• TURRI srl
• Grayson Luxury
• Williams-Sonoma, Inc.
• Cassina S.P.A

Breakup by Application:
• Domestic Sectors
o Living Room And Bedroom
o Kitchen
o Bathroom
o Outdoor
o Lighting
• Commercial Sectors
o Office
o Hospitality
o Others

Breakup by Raw Material:
• Wood
• Metal
• Glass
• Leather
• Plastic
• Multiple
• Others

Breakup by Distribution Channel:
• Conventional Furniture Stores
• Specialty Stores
• Online Retailers
• Others

Breakup by Design:
• Modern Segments
• Contemporary Segments

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/luxury-furniture-market

Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.