According to the latest report by IMARC Group, titled “Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global luxury furniture market reached a value of US$ 22.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2027, exhibiting a CAGR of 4.97% during 2022-2027.
Luxury Furniture Market Overview:
Luxury furniture refers to the high-end movable articles that are characterized by zero margins for error, elite design, and the best quality raw materials, such as steel, wrapped panels, melamine, glass, etc. It enhances the aesthetic appeal of commercial establishments and residential spaces, including restaurants, hotels, offices, etc. Furthermore, luxury furniture is generally heavily priced as it provides durability with an extended warranty period.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Luxury Furniture Market Trends:
The expanding real estate sector is primarily driving the luxury furniture market across the globe. In addition to this, the growing product utilization as a marker of social status, a signifier of religious and ethnic beliefs, a symbol of personal meaning, or simply as an artistic display is also stimulating the market growth. Moreover, the rising consumer awareness towards the adverse effects of toxic furniture finishes is augmenting the adoption of organic luxury items that are made using sustainable, biodegradable, and renewable raw materials, which is acting as another significant growth-inducing factor.
Besides this, the increasing number of modern housing infrastructures is further propelling the global market. Additionally, the elevating investments in authentication procedures by numerous international platforms for mitigating the risk of product replication by counterfeiters and providing a reliable purchasing environment to customers are anticipated to fuel the luxury furniture market over the forecasted period.
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Important Note: If the link is not clickable please open it in a new tab, you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Duresta Upholstery Limited
- Valderamobili s.r.l.
- Scavolini S.p.A.
- Giovanni Visentin S.R.L.
- Nella Vetrina
- Muebles Picó S.A.
- Heritage Home Group LLC
- iola Furniture Limited
- TURRI srl
- Grayson Luxury
- Williams-Sonoma, Inc.
- Cassina S.P.A
Key Market Segmentation Breakup by:
Application:
- Domestic Sectors
-
- Living Room And Bedroom
- Kitchen
- Bathroom
- Outdoor
- Lighting
- Commercial Sectors
-
- Office
- Hospitality
- Others
Raw Material:
- Wood
- Metal
- Glass
- Leather
- Plastic
- Multiple
- Others
Distribution Channel:
- Conventional Furniture Stores
- Specialty Stores
- Online Retailers
- Others
Design:
- Modern Segments
- Contemporary Segments
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Also Read: Handbag Market Research Report 2022-2027: https://techycons.com/handbag-market-price-demand-growth-analysis-report-2022-27/
