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Furniture Market by Type (RTA, Residential, and Commercial), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-Commerce, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2018 - 2025

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Pages: 184
Jan 2019 | 752 Views
 
Author(s) : Aniket Kadam
Tables: 77
Charts: 34
 

Furniture Market Outlook - 2025

Furniture is used in laboratories, spa, office, clean room, restaurants, camping, bedroom, outdoor, library, parks, stores, and many more places. Global furniture market is projected to reach $800,596 million by 2025 end, with a CAGR of 3.5% from 2018 to 2025.  Most of the furniture is manufactured using a variety of materials and is available in different designs. Furniture are movable items such as chairs, beds, cupboards, tables, shelves, or in form of decorative art used at various places. Furniture offer different solutions such as sleeping, dining, seating, and storage function. In commercial spaces, furniture plays an important role in seating arrangements and document storage. Depending on end use, furniture designs can be modified through machine-based processes and handcrafting. The rise in number of small-size houses has encouraged multi-functional furniture, which has facilities for extra storage. It was observed that there is increasing utilization of extra home spaces for an office which has led to a demand for office furniture. The furniture market is highly fragmented due to multiple vendors in both international and regional players. Booming real estate industry in the current scenario is driving the global furniture market. In addition, increase in disposable income has influenced the individual to spend more on comfortable lifestyle, this in turn is expected to provide growth opportunities for the global furniture market. Low-cost furniture producers such as China and Vietnam are also anticipated to drive the growth of the furniture market. However, scarcity of skilled labor, better transportation facilities, and infrastructure facilities may act as a hindrance for the global furniture market.

Furniture Market

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The market is driven by various factors such as rise in disposable incomes, growth of real estate and hospitality industries, and demand for luxury and premium furniture from certain consumer sections. In addition, emerging new species of wood tree for furniture manufacturing and marketing through internet are some of the factors that are expected to contribute to the growth of the market across the globe. In addition, increase in government investments in infrastructural development boosts the furniture market demand in the residential and commercial sector in near future. The integration of internet of things into furniture products is projected to further escalate the market growth. The development in manufacturing technology has substantially reduced the cost of furniture, which fueled the use of furniture products. The rise in the global economy has increased the spending capacity of the consumers, which in turn has impelled the sale of branded furniture items in the market. Moreover, development of automated manufacturing system is anticipated to have a significant impact on the furniture industry during the forecast period.

The global furniture market is segmented based on type, distribution channel, and region. Based on type, it is classified into RTA, residential, and commercial. The distribution channel comprises supermarkets & hypermarkets, specialty stores, e-commerce, and others. Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).

Based on type, it is classified as RTA, residential, and commercial. In 2017, residential was the leading furniture market segments, due to rise in global economy that has increased the spending capacity of the consumers, which in turn has impelled the sale of branded furniture items in the market. In addition, growing commercial infrastructure and real estate sector has fueled the demand for the residential furniture products across the globe. 

Furniture Market by Type

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Based on distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores, e-commerce, and others. In 2017, specialty store was the leading segment in the global market, owing to wide range of furniture category that is offered by specialty store. In addition, the increase in income levels and change in lifestyle of consumers are expected to further drive the market growth.

Rise in penetration of smartphone has advent of lower cost of internet and easy availability of cheap smartphones have led to an exponential rise in number of online shoppers across the globe. The online channel can be accessed by large number of consumers due to increased internet penetration across the globe. Also, some companies provide “designing your own interior sitting at home” service with the help of an online interactive room designer software. These factors are expected to boost the sale of furniture though e-commerce segment during the forecast period. The overall demand for furniture has increased among urban households, as consumer in urban area furnish their home to increase comfort level and live luxuries lifestyle. Coupled with this is the increased propensity to spend on lifestyle and consumer products, driven by increased ease of financing for consumer durables and increased exposure to global furniture products. All these factors have had a positive impact on the furniture sector and are expected to drive demand for furniture in the forecast period.

Furniture Market by Distribution Channel

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 By region, North America was the largest market for furniture in 2017 due to increase in spending capacity of the consumers and real estate sector. Online retailing and increase in demand for multifunctional furniture present significant opportunities for the growth of the North America furniture market. 

Furniture Market by Region

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Some of the major players in the global furniture industry analyzed in this report are Haworth, Inc., Inter IKEA Systems BV, Steelcase Inc., Masco Corporation, HNI Corporation, L. & J.G. STICKLEY, INC., Kimball International, Inc., Okamura Corporation, Heritage Home Group LLC, and Durham Furniture Inc.   

Key Benefits for Furniture Market:

  • This report provides a quantitative analysis of the current furniture market trends, estimations, and dynamics of the global furniture market size from 2018 to 2025 to identify the prevailing furniture market opportunity.
  • The key countries in all the major regions are mapped based on their furniture market share.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • A comprehensive analysis of factors that drive and restrict the furniture market growth is provided.
  • An in-depth analysis of the global market helps determine the prevailing market opportunities.
  • The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.

Furniture Key Market Segments:

By Type

  • RTA 
  • Residential  
  • Commercial

By Distribution Channel

  • Supermarkets & Hypermarkets 
  • Specialty Stores 
  • E-Commerce 
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Spain
    • UK
    • Italy
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of LAMEA
 

CHAPTER 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Key market segments
1.4.    Research methodology

1.4.1.    Primary Research
1.4.2.    Secondary Research
1.4.3.    Analyst Tools and Models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    Key findings of the study
2.2.    CXO perspective

CHAPTER 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Key findings

3.2.1.    Top investment pocket
3.2.2.    Top winning strategies

3.3.    Porter's five forces analysis

3.3.1.    Bargaining power of suppliers
3.3.2.    Bargaining power of buyers
3.3.3.    Threat of substitution
3.3.4.    Threat of new entrants
3.3.5.    Intensity of competitive rivalry

3.4.    Market dynamics

3.4.1.    Drivers

3.4.1.1.    Rise in disposable income
3.4.1.2.    Growing infrastructure investment in residential and commercial sector
3.4.1.3.    Growing inclination of customers toward modular furniture

3.4.2.    Restraint

3.4.2.1.    Rise in raw material price
3.4.2.2.    Environmental restriction associated with deforestation

3.4.3.    Opportunities

3.4.3.1.    Development of eco-friendly raw materials
3.4.3.2.    Growing E-commerce
3.4.3.3.    Increase in public spending

CHAPTER 4:    FURNITURE MARKET, BY TYPE

4.1.    Overview

4.1.1.    Market size and forecast, by type

CHAPTER 5:    FURNITURE MARKET, BY DISTRIBUTION CHANNEL

5.1.    Overview

5.1.1.    Market size and forecast, by distribution channel

CHAPTER 6:    FURNITURE MARKET, BY REGION

6.1.    Overview

6.1.1.    Market size and forecast, by region

6.2.    North America

6.2.1.    Key market trends, growth factors, and opportunities
6.2.2.    Market size and forecast, by type
6.2.3.    Market size and forecast, by distribution channel
6.2.4.    Market size and forecast, by country
6.2.5.    U.S.

6.2.5.1.    Market size and forecast, by type
6.2.5.2.    Market size and forecast, by distribution channel

6.2.6.    Canada

6.2.6.1.    Market size and forecast, by type
6.2.6.2.    Market size and forecast, by distribution channel

6.2.7.    Mexico

6.2.7.1.    Market size and forecast, by type
6.2.7.2.    Market size and forecast, by distribution channel

6.3.    Europe

6.3.1.    Key market trends, growth factors, and opportunities
6.3.2.    Market size and forecast, by type
6.3.3.    Market size and forecast, by distribution channel
6.3.4.    Market size and forecast, by country
6.3.5.    Germany

6.3.5.1.    Market size and forecast, by type
6.3.5.2.    Market size and forecast, by distribution channel

6.3.6.    Spain

6.3.6.1.    Market size and forecast, by type
6.3.6.2.    Market size and forecast, by distribution channel

6.3.7.    UK

6.3.7.1.    Market size and forecast, by type
6.3.7.2.    Market size and forecast, by distribution channel

6.3.8.    Italy

6.3.8.1.    Market size and forecast, by type
6.3.8.2.    Market size and forecast, by distribution channel

6.3.9.    France

6.3.9.1.    Market size and forecast, by type
6.3.9.2.    Market size and forecast, by distribution channel

6.3.10.    Rest of Europe

6.3.10.1.    Market size and forecast, by type
6.3.10.2.    Market size and forecast, by distribution channel

6.4.    Asia-Pacific

6.4.1.    Key market trends, growth factors, and opportunities
6.4.2.    Market size and forecast, by type
6.4.3.    Market size and forecast, by distribution channel
6.4.4.    Market size and forecast, by country
6.4.5.    China

6.4.5.1.    Market size and forecast, by type
6.4.5.2.    Market size and forecast, by distribution channel

6.4.6.    India

6.4.6.1.    Market size and forecast, by type
6.4.6.2.    Market size and forecast, by distribution channel

6.4.7.    Japan

6.4.7.1.    Market size and forecast, by type
6.4.7.2.    Market size and forecast, by distribution channel

6.4.8.    Australia

6.4.8.1.    Market size and forecast, by type
6.4.8.2.    Market size and forecast, by distribution channel

6.4.9.    Japan

6.4.9.1.    Market size and forecast, by type
6.4.9.2.    Market size and forecast, by distribution channel

6.4.10.    Rest of Asia-Pacific

6.4.10.1.    Market size and forecast, by type
6.4.10.2.    Market size and forecast, by distribution channel

6.5.    LAMEA

6.5.1.    Key market trends, growth factors, and opportunities
6.5.2.    Market size and forecast, by type
6.5.3.    Market size and forecast, by distribution channel
6.5.4.    Market size and forecast, by country
6.5.5.    Brazil

6.5.5.1.    Market size and forecast, by type
6.5.5.2.    Market size and forecast, by distribution channel

6.5.6.    Saudi Arabia

6.5.6.1.    Market size and forecast, by type
6.5.6.2.    Market size and forecast, by distribution channel

6.5.7.    UAE

6.5.7.1.    Market size and forecast, by type
6.5.7.2.    Market size and forecast, by distribution channel

6.5.8.    Rest of LAMEA

6.5.8.1.    Market size and forecast, by type
6.5.8.2.    Market size and forecast, by distribution channel

LIST OF TABLES

TABLE 01.    GLOBAL FURNITUREMARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 02.    NORTH AMERICA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 03.    NORTH AMERICA FURNITUREMARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 04.    NORTH AMERICA FURNITURE MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 05.    U.S. FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 06.    U.S. FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 07.    CANADA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 08.    CANADA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 09.    MEXICO FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 10.    MEXICO FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 11.    EUROPE FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 12.    EUROPE FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 13.    EUROPE FURNITURE MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 14.    GERMANY FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 15.    GERMANY FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 16.    SPAIN FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 17.    SPAIN FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 18.    UK FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 19.    UK FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 20.    ITALY FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 21.    ITALY FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 22.    FRANCE FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 23.    FRANCE FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 24.    REST OF EUROPE FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 25.    REST OF EUROPE FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 26.    ASIA-PACIFIC FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 27.    ASIA-PACIFIC FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 28.    ASIA-PACIFIC FURNITURE MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 29.    CHINA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 30.    CHINA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 31.    INDIA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 32.    INDIA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 33.    JAPAN FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 34.    JAPAN FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 35.    AUSTRALIA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 36.    AUSTRALIA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 37.    SOUTH KOREA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 38.    SOUTH KOREA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 39.    REST OF ASIA-PACIFIC FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 40.    REST OF ASIA-PACIFIC FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 41.    LAMEA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 42.    LAMEA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 43.    LAMEA FURNITURE MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 44.    BRAZIL FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 45.    BRAZIL FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 46.    SAUDI ARABIA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 47.    SAUDI ARABIA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 48.    UAE FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 49.    UAE FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)
TABLE 50.    REST OF LAMEA FURNITURE MARKET, BY TYPE, 2017-2025 ($MILLION)
TABLE 51.    REST OF LAMEA FURNITURE MARKET, BY DISTRIBUTION CHANNEL , 2017-2025 ($MILLION)

LIST OF FIGURES

FIGURE 01.    FURNITURE MARKET SNAPSHOT
FIGURE 02.    FURNITURE MARKET SEGMENTATION
FIGURE 03.    TOP INVESTMENT POCKET, 2017-2015
FIGURE 04.    TOP WINNING STRATEGIES, BY YEAR, 2015-2018*
FIGURE 05.    TOP WINNING STRATEGIES, BY DEVELOPMENT, 2015-2018* (%)
FIGURE 06.    TOP WINNING STRATEGIES, BY COMPANY, 2015-2018*
FIGURE 07.    LOW BARGAINING POWER OF SUPPLIERS
FIGURE 08.    HIGH BARGAINING POWER OF BUYERS
FIGURE 09.    MODERATE THREAT OF SUBSTITUTION
FIGURE 10.    LOW THREAT OF NEW ENTRANTS
FIGURE 11.    HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 12.    FURNITURE MARKET BY DRIVERS,RESTRAINT,OPPORTUNITYES 2017
FIGURE 13.    GLOBAL FURNITURE MARKET SHARE, BY TYPE, 2017 (%)
FIGURE 14.    GLOBAL FURNITUREMARKET SHARE, BY DISTRIBUTION CHANNEL, 2017 (%)
FIGURE 15.    GLOBAL FURNITURE MARKET SHARE, BY REGION, 2017 (%)
FIGURE 16.    U.S. FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 17.    CANADA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 18.    MEXICO FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 19.    GERMANY FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 20.    SPAIN FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 21.    UK FURNITUREMARKET, 2017–2025 ($MILLION)
FIGURE 22.    ITALY FURNITUREMARKET, 2017–2025 ($MILLION)
FIGURE 23.    FRANCE FURNITUREMARKET, 2017–2025 ($MILLION)
FIGURE 24.    REST OF EUROPE FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 25.    CHINA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 26.    INDIA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 27.    JAPAN FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 28.    AUSTRALIA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 29.    SOUTH KOREA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 30.    REST OF ASIA-PACIFIC FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 31.    BRAZIL FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 32.    SAUDI ARABIA FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 33.    UAE FURNITURE MARKET, 2017–2025 ($MILLION)
FIGURE 34.    REST OF LAMEA FURNITURE MARKET, 2017–2025 ($MILLION)

 
 

The demand for furniture is on the rise across the globe. The market players have adopted key developmental strategies such as product launch to fuel the growth of the wooden floor market. They have introduced advanced designs to boost the demand for furniture. Also, in recent time the growing commercial sector has contributed toward the growth of the furniture market.

The rapid pace of urbanization, increase in single and dual living households, and rise in trend of classy yet compact furniture for enhancing the overall household aesthetics support the adoption of folding furniture. Additionally, minimal use of sustainable material and online retailing of furniture also boosts the market demand among the various income groups.

The trend of online shopping substantially influences the furniture market. Operating players in this market prefer to sell their products through e-commerce platforms for maximizing reach. Tie-ups between furniture manufacturers and interior designers is another trend gaining popularity in the industry and are acting as an emerging sales channel for the manufacturers. Furthermore, eco-friendly furniture is witnessing increased demand due to growing environmental awareness among the consumers in the region. Lack of skilled workforce is the main challenge faced by the operating players in this region. Further, the fluctuating cost of materials such as wood and leather also restricts the market growth.

 

 

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