Luxury Furniture Market - Industry Trends and Forecast to 2029
MarkNtel Advisors, a prominent market research firm, has recently published a report titled Luxury Furniture Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2029. This study offers an in-depth examination of the industry, encompassing Luxury Furniture market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
Luxury Furniture Reports Highlights
What is the size of the Luxury Furniture Market?
The Global Luxury Furniture Market size is valued at around USD 27.65 billion in 2023 is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-2029. The ongoing trend of urbanization results in smaller living spaces in urban areas. As a result, there is a growing need for compact and multifunctional luxury furniture, which can be both stylish and space-saving. According to the United Nations Conference on Trade and Development (UNCTAD), 57% of the total world population lived in urban areas in 2021, which is further expected to rise to nearly 68% by 2030, leading to the enhancement of commercial residential construction in the coming years.
What do the growth prospects and trends look like in the Luxury Furniture Industry?
Increasing Development of Real Estate Sector to Escalate Market Growth: During the historical years, the consistent growth of the real estate sector, especially in the luxury and upscale property segment, significantly contributed to the increased demand for high-end furniture in both residential and commercial spaces. In addition, the expansion of service-based industries, such as ICT, telecommunication, etc., has widely supported the demand for luxurious furniture during 2018-21. The key factors attributed to the rising service expansion are the growth initiatives of the global economies such as India, China, the UAE, Saudi Arabia, etc., to launch flexible FDI policies, taxation relations, and minimum barriers on entry and exit, with an intent to boost their gross domestic product (GDP) growth. Therefore, global economies are witnessing an accumulation in investments to expand new office spaces warehouses across numerous regions, which is expected to enhance the market growth during 2024-2028.
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What Components are encompassed within Luxury Furniture Market segmentation?
The report has divided the market into the following segments:
By Type
-Indoor Furniture- Market Size Forecast 2019-2029, (USD Million)
--Bedroom Furniture- Market Size Forecast 2019-2029, (USD Million)
--Dining Furniture- Market Size Forecast 2019-2029, (USD Million)
--Office Furniture- Market Size Forecast 2019-2029, (USD Million)
--Kitchen Furniture- Market Size Forecast 2019-2029, (USD Million)
--Living Room Furniture- Market Size Forecast 2019-2029, (USD Million)
-Outdoor Furniture- Market Size Forecast 2019-2029, (USD Million)
--Patio Furniture- Market Size Forecast 2019-2029, (USD Million)
--Rooftop Furniture- Market Size Forecast 2019-2029, (USD Million)
--Beachfront Furniture- Market Size Forecast 2019-2029, (USD Million)
--Others (Poolside, Deck Furniture, etc.)- Market Size Forecast 2019-2029, (USD Million)
By Type of Furniture
-Bed- Market Size Forecast 2019-2029, (USD Million)
-Sofa Couch- Market Size Forecast 2019-2029, (USD Million)
-Table Desk- Market Size Forecast 2019-2029, (USD Million)
-Chair Stool- Market Size Forecast 2019-2029, (USD Million)
-Wardrobes Dresser- Market Size Forecast 2019-2029, (USD Million)
-Cabinets Nightstand- Market Size Forecast 2019-2029, (USD Million)
-Others- Market Size Forecast 2019-2029, (USD Million)
By Material
-Wood- Market Size Forecast 2019-2029, (USD Million)
-Plastic- Market Size Forecast 2019-2029, (USD Million)
-Leather- Market Size Forecast 2019-2029, (USD Million)
-Others (Glass, Metal, etc.)- Market Size Forecast 2019-2029, (USD Million)
By Distribution Channel
-Direct Sales- Market Size Forecast 2019-2029, (USD Million)
-Indirect Sales- Market Size Forecast 2019-2029, (USD Million)
-Online Platform- Market Size Forecast 2019-2029, (USD Million)
By End User
-Residential- Market Size Forecast 2019-2029, (USD Million)
-Offices- Market Size Forecast 2019-2029, (USD Million)
-Commercial Retail- Market Size Forecast 2019-2029, (USD Million)
-Hospitality- Market Size Forecast 2019-2029, (USD Million)
-Others (Government Agencies, etc.)- Market Size Forecast 2019-2029, (USD Million)
By Region
-North America
-South America
-Europe
-The Middle East Africa
-Asia-Pacific.
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
Cassina S.p.A.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Kimball International Inc.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Marge Carson
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Fendi Casa
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Brown Jordan Inc.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
BB Italia
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Marioni
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Boca Do Lobo
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Duresta
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Bentley Home
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Natuzzi
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Haworth, Inc.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
West Elm
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Pico Muebles
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Maiden Home
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others.
About Us-
MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.
Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.
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