The global demand for Luxury Furniture Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Luxury furniture is movable furniture created by expert artisans utilizing the highest quality materials and planned with no room for error. It improves the visual value of commercial and residential buildings, such as hotels, businesses, houses, and other indoor and outdoor spaces. Home, business, restaurant, hotel interiors, and other outdoor and indoor locations benefit from luxury furniture.
Market Dynamics
People in urbanized areas are increasingly adopting luxury furnishings as their lives change and their living standards improve. Furthermore, manufacturers create eye-catching new luxury furniture designs and cooperate with interior designers to enhance awareness and reach a more extensive customer base. The tremendous increase in the real estate sector impacts demand for luxury furniture in the residential and commercial sectors. Furthermore, the growing population, particularly in developing countries, and the increasing penetration of internet shopping are fueling the expansion of the luxury furniture market. Again, rising disposable incomes have influenced customers to purchase luxury items that serve as status symbols and add value to a space, propelling the global luxury furniture industry forward. The main factors driving market expansion are the growing desire for branding and positioning, accelerating demand for eco-friendly luxury furnishings, the rising impact of globalization, low operational costs, and expanding infrastructure expenditures.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of luxury furniture. The growth and trends of luxury furniture industry provide a holistic approach to this study.
Market Segmentation
This section of the luxury furniture market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Material
- Glass
- Metal
- Plastic
- Leather
- Wood
- Others (Marble, Rattan, Etc.)
By Distribution Channel
- Departmental Stores
- Online Sales
- Independent Furniture Retailers
- Factory Outlets
By End Use
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Luxury Furniture market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Luxury Furniture Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the luxury furniture market include Knoll, Inc., MARIONI, Boca do Lobo, Bentley Home, IKEA Group, Herman Miller, Inc., and Brabbu. Other prominent manufacturers are Kohler, Furniture Concepts, Haworth Inc., Godrej & Boyce Manufacturing Co., Ltd., and HNI Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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