The sofas are said to be the centre of attraction of any establishment, like a house, office or business space. In a present day workplace setting, the sofas play a significant role in setting the ambiance of the workplace, which gives a secured and relaxing environment and a calm feeling to all the occupants of the office space. Moreover, regardless of what kind or type of furniture one has in a living room, a sofa can be considered as the anchor piece. The style of sofa, be it fabric or leather sets the mood in a room. After a long tiring day, the cushy couch is the best option to sink in to watch TVs. This makes these straight sofas versatile for varied applications from commercial to domestic.
Market Scope and Structure Analysis
Working from remote locations forced people to ascent for ergonomic chairs and desks in 2020. But with the pandemic showing no signs of subsiding soon, consumers have focused their attention to sofas, storage solutions and home decor, resulting in furniture makers reporting triple-digit growth in sales. The straight Sofas Market has expanded tremendously within the past couple of years and this trend is expected to continue following an equal trend until 2030. Keeping in mind the modern chain, the market report mainly explains in-depth the definition, types, applications, and key players of the straight Sofas market. Deep investigation about market status enterprise competition pattern, benefits and disadvantages of enterprise products, industry development trends (2021-2030), regional industrial layout features and macroeconomic policies, industrial policy has even be studied. Also, the industry report provides a thorough competitive stance and systematic structure of the straight Sofas market at a global constant platform.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut-down the production of various products in the straight sofas industry attributed to the lockdown in countries worldwide. This has hampered the growth of straight sofas market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of straight sofas in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for straight sofas was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for straight sofas.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Straight sofas manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- Straight sofas manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
The foreseeable future says that work from home is ever to stay. People who are having the option to work from remote locations, are opting for the same considering the present scenario across the world. This work from home has drifted the demand towards furniture for domestic purposes as people are spending considerably more time staying at home. When e-commerce deliveries were allowed from the fourth phase of lockdown, ever since then furniture like sofas are in an uptick in demand, this not only includes retailers but also rental players. Moreover, furniture plays a vital role in interior designing. Innovative interior design needs stylish furniture like sofas. Interior designers who want to make their own exclusive style in a particular room use sofa in various ways. Some of the most innovative yet functional interior designs are defined by the way sofas are positioned in a room. Often, other items in the room use the sofas as a focal point around which they are placed to create a designer’s unique look. In that logic, sofas can be said as one of the major tools of an interior designer.
- One of the extensively used business expansion strategy worldwide is collaboration, which helps in enlarging the geographic footprint of the country. Since interior designing and furniture companies goes hand in hand, therefore the collaborations between such two companies will give a win-win situation for both. For instance, Thomas O’Brien, who has been one of the acclaimed New York based interior designer collaborated with Century Furniture which helped him to acquire vintage and antique sofas. Thereby the brand got the recognition it wanted and the designer also got a chance to express his unique style of decorations.
- One of the utmost essential driving factors behind the above statement is customization. Product customization is one the key factors to properly serve the customer base successfully. Keeping in mind that each and every customer is different from others, a single product at times fail to meet the needs and demand of the customers.
- Similarly, new products that has advanced facilities and improved capabilities are launched by leading market players. They have taken necessary steps to overcome the drawbacks of the previous products and thus improve the overall functionalities. For instance, Hancock and Moore is one of the top quality furniture manufacturers who specialises in leather and also makes recliner sofas. H&M uses a different type of power mechanism which is way different from the other brands, which is liked by its customers.
Key Benefits of the Report
- This study presents the analytical depiction of the straight sofa industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the straight sofa industry share.
- The current market is quantitatively analysed to highlight the straight sofa industry growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed straight sofa industry analysis based on competitive intensity and how the competition will take shape in coming years
Straight Sofas Market Report Highlights
By Product Type
By End user industry
Key Market Players
Fleming and Howland, Furninova AB, Doimo Salotti, Alpa Salotti, Kingsgate Furniture Ltd., Cierre, Gyform, BUSNELLI, Poles Salotti, Davison Highley, IDP, GRASOLLER, FLEXFORM, Himolla Polstermobel