Global Coffee Table Market Is Likely to Experience a Tremendous Growth by 2028

The global coffee table market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The rapid urbanization coupled with rising disposable income is enabling the consumers to adopt modern coffee tables, thus creating lucrative opportunities for the manufacturers. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada,  the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.

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Looking toward the demand for coffee tables, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2021, Etre Luxe India had launched Pico Outdoor coffee tables. The legs are made of cast aluminum and offered in an array of sophisticated epoxy powder coat finish colors. The table is available in versions with iroko wood slats or the types of stones such as Beola Argentata, Pietra del Cardoso, and Porphyry. Further, in April 2019, Ansavv had launched collections of coffee tables. The collections include Tornado Coffee Table, Trend Coffee Table, Rios Coffee Table, Kin Coffee Table, Zeneth Coffee Table, and Art Cofee Table with White Souf. Thus, such launches are anticipated to drive the growth of the global coffee table market during the forecast period.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Ikea, American Furniture Warehouse, and Durham Furniture among others

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Coffee Tables Market Report by Segment

By Type

Wood Coffee Table
Metal Coffee Table
Glass Coffee Table
Others

By Application

Living Room
Sitting Room

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This release was published on openPR.