Press release
Luxury Furniture Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Luxury Furniture
The Business Research Company's Luxury Furniture Global Market Report 2023 identifies the growing e-commerce industry as the major driver for the Luxury Furniture market's growth in the forecast period. E-commerce refers to buying and selling goods and services and sending money or data through an electronic network, often the Internet. With the surge in online orders, logistics companies are expanding their vehicle fleets to meet the increasing delivery volumes. Luxury Furnitures are essential for the efficient and timely transportation of goods, ensuring customer satisfaction in the e-commerce sector.
The global luxury furniture market is expected to grow from $22.56 billion in 2022 to $24.10 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The luxury furniture market is expected to reach $30.32 billion in 2027 at a CAGR of 5.9%.
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Major competitors in the Luxury Furniture market are IKEA Systems B.V., Ralph Lauren Home, La-Z-Boy Incorporated, Heritage Home Group LLC, Arhaus LLC, Bentley Home, Luxury Living Group.
Advanced recycled materials are a key trend gaining popularity in the luxury furniture market. Major companies operating in the luxury furniture market are using a new generation of advanced recycled materials to make sustainable luxury furniture and sustain their position in the market.
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The Luxury Furniture market is segmented -
• By Type: Tables, Chairs, Sofas And Lounges, Kitchen, Lighting, Interior Accessories, Beds, Other Types
• By Material: Wood, Metal, Plastic, Glass, Leathers, Other Materials
• By Distribution Channel: Online, Offline
• By End User: Residential, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Luxury Furniture market.
The Business Research Company's "Global Luxury Furniture Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Luxury Furniture Market Include:
1. Executive Summary
2. Luxury Furniture Market Characteristics
3. Luxury Furniture Market Trends And Strategies
4. Luxury Furniture Market - Macro Economic Scenario
5. Global Luxury Furniture Market Size and Growth
……
32. Global Luxury Furniture Market Competitive Benchmarking
33. Global Luxury Furniture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Luxury Furniture Market
35. Luxury Furniture Market Future Outlook and Potential Analysis
36. Appendix
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