Home Renovation Boom Propels Surge In Luxury Furniture Market Demand: A Significant Driver Propelling The Luxury Furniture Market In 2025

The Luxury Furniture Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Luxury Furniture Market Size and Projected Growth Rate?
Over recent years, the size of the luxury furniture market has seen robust growth. Projecting to expand from $25.55 billion in 2024 to $27.19 billion in 2025, it would observe a compound annual growth rate (CAGR) of 6.4%. This growth during the historical period can be credited to factors like economic prosperity, evolving trends in architecture and interior design, the emergence of luxury real estate, cultural factors, endorsements from celebrities, and influencers' impact.

In the coming years, the luxury furniture market is projected to experience robust growth, expanding to a worth of $35.11 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%. This growth during the projected period is due to the surge in luxury e-commerce, sustainable and eco-friendly approaches, redistribution of global wealth, design's focus on wellness and comfort, and the rise of luxury e-commerce. Key trends for the forecast period encompass the digitization and customization of designs, partnerships with contemporary artists, transparency in the supply chain, broad and diverse designs, and the explorer of virtual and augmented reality for shopping.

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What Are the Major Segments in the Luxury Furniture Market?
The luxury furniture market covered in this report is segmented -

1) By Type: Tables, Chairs, Sofas And Lounges, Kitchen, Lighting, Interior Accessories, Beds, Other Types
2) By Material: Wood, Metal, Plastic, Glass, Leathers, Other Materials
3) By Distribution Channel: Online, Offline
4) By End User: Residential, Commercial

Subsegments:
1) By Tables: Dining Tables, Coffee Tables, Side Tables, Console Tables
2) By Chairs: Dining Chairs, Lounge Chairs, Office Chairs, Accent Chairs
3) By Sofas And Lounges: Sectional Sofas, Recliners, Sofa Beds, Loveseats
4) By Kitchen: Kitchen Islands, Bar Stools, Cabinets And Storage Solutions
5) By Lighting: Chandeliers, Floor Lamps, Table Lamps, Wall Sconces
6) By Interior Accessories: Decorative Cushions, Rugs, Art And Wall Decor
7) By Beds: King And Queen Beds, Canopy Beds, Platform Beds, Bedside Tables
8) By Other Types: Outdoor Furniture, Custom-Made Furniture, Furniture For Commercial Spaces

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What Are The Driving Luxury Furniture Market Evolution?
The upward trend of home remodeling is set to drive the expansion of the luxury furniture market in the future. Home remodeling involves significant changes, improvements or enhancements to a residential dwelling. Luxury furniture which adds a sense of elegance, style, and sophistication to living spaces, plays a crucial part in these home renovation initiatives. For example, in January 2023, the Harvard Joint Center for Housing Studies, a US-based research organization that studies housing-related matters, projected that national expenditure on refurbishment and repairs for homes owned by their occupants will hit $485 billion in 2023, marking a 2.6 percent rise from the prior year. Therefore, the escalating trend of home remodeling is fueling the expansion of the luxury furniture market.

Which Firms Dominate The Luxury Furniture Market Segments?
Major companies operating in the luxury furniture market include IKEA Systems B.V., Ralph Lauren Home, La-Z-Boy Incorporated, Heritage Home Group LLC, Arhaus LLC, Bentley Home, Luxury Living Group, Cassina S.p.A, Scavolini S.p.A., Meco Corporation, Boca do Lobo, DelightFULL, Castlery, Jonathan Adler, Brabbu, Iola Furniture Limited, Turri Srl, Nella Vetrina, Koket, Henredon Furniture Industries Inc., Muebles Pico SA, Valderamobili s.r.l, Artifox, Giovanni Visentin s.r.l, Duresta Upholstery Ltd., Mueble de España, Essential Home, Thomas Blakemore Ltd., Anna Casa Interiors

What Trends Are Expected to Dominate the Luxury Furniture Market in the Next 5 Years?
The use of innovative recycled materials is becoming an increasingly important trend in the luxury furniture sector. Many leading players in this market are now producing environmentally sound luxury furniture from a fresh wave of superior recycled materials, a move designed to secure their market position. To illustrate, in March 2023, US sustainable furniture and home goods company, House of Ecologie, brought out a range of high-end environmentally conscious furniture. This range is made from groundbreaking recycled materials and includes a variety of handcrafted, classic pieces, all created to complement modern, practical homes. This venture is being led by Ecogensus' commitment to promoting the wellbeing of both people and our planet.

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Which Is The Largest Region In The Luxury Furniture Market?
Asia-Pacific was the largest region in the luxury furniture market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Luxury Furniture Market?
2. What is the CAGR expected in the Luxury Furniture Market?
3. What Are the Key Innovations Transforming the Luxury Furniture Industry?
4. Which Region Is Leading the Luxury Furniture Market?

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