Market Overview: Global Luxury Furniture Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Luxury Furniture Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Luxury Furniture Market Insights 2024-30
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., 2024-2030.
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Top Players in the Luxury Furniture Market:
- Cassina S.p.A.
- Kimball International Inc.
- Marge Carson
- Fendi Casa
- Brown Jordan Inc.
- B&B Italia
- Marioni
- Boca Do Lobo
- Duresta
- Bentley Home
- Natuzzi
- Haworth, Inc.
- West Elm
- Pico Muebles
- Maiden Home
- Others
Segmentation Analysis of Luxury Furniture Market
Luxury Furniture Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Material
- Wood
- Plastic
- Leather
- Others (Glass, Metal, etc.)
The high durability and aesthetic design offered by wooden materials in the luxury furniture market positively supported the growth of the wood segment during the historical years. Luxury furniture buyers across the Middle East & Europe region often seek long-term investments, and wooden pieces provide this assurance to the customers. The longevity of wood reduces the need for frequent replacements, making it a cost-effective choice for longer periods as compared to plastic and other types of raw materials. In addition, wooden furniture effortlessly blends with a variety of interior design styles, ensuring its relevance through different trends and design preferences, which is another factor for the growth of the wood segment, which will further elevate the market size during 2024-2030.
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-By Type
- Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
-By Type of Furniture
- Bed- Market Size & Forecast 2019-2030, (USD Million)
- Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
- Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
- Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
- Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
- Cabinets & Nightstand- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
-By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030, (USD Million)
- Indirect Sales- Market Size & Forecast 2019-2030, (USD Million)
- Online Platform- Market Size & Forecast 2019-2030, (USD Million)
-By End User
- Residential- Market Size & Forecast 2019-2030, (USD Million)
- Offices- Market Size & Forecast 2019-2030, (USD Million)
- Commercial & Retail- Market Size & Forecast 2019-2030, (USD Million)
- Hospitality- Market Size & Forecast 2019-2030, (USD Million)
- Others (Government Agencies, etc.)- Market Size & Forecast 2019-2030, (USD Million)
A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
North America accounted for a considerable luxury furniture market share during the historical years. The market growth imputes to the increasing disposable income in the US, Canada, etc., increasing the focus of individuals on aesthetics and urban lifestyles, and this is further leading to the increased usage of high-end furniture. With the increasing number of consumers shifting their preference toward quality and stylish furniture products due to higher disposable incomes and better lifestyle requirements, the luxury furniture market in North America is expected to witness significant growth in the coming years.
Moreover, in the upcoming years, the Asia-Pacific (APAC) region is expected to experience a remarkable surge in the demand for residential and commercial properties. This is primarily driven by a significant increase in rapid urbanization and a growing job opportunity market across the region. Also, the market is thriving due to a combination of continuous innovation and a strong consumer inclination towards designer luxury furniture, which is further anticipated to escalate the luxury furniture market share during 2024-2030.
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MarkNtel Advisors is a leading market research company, 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 15.67 diverse industrial verticals.
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