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The Furniture Market Growth Factors
Among the major factors favorably affecting the market are the expanding worldwide population, rapid urbanization, and increased development of both residential and commercial buildings. Additionally, the demand for lightweight, adaptable, portable furniture with ample storage is rising globally as a result of the growth of the travel and tourism industry, as well as rising income levels, changing lifestyles, and raising living standards. In addition, the rise in nuclear families is fueling demand for foldable, compact furniture that is simple to set up in limited places. In addition, the prevalence of postural dysfunction is fueling a desire for furniture that is ergonomically intended to prevent health issues and posture issues in both children and adults.
The Furniture Market Segmentation
The Furniture Market on the basis of Type, the market is categorized into Ready-to-Assemble (RTA), Non-RTA) Material (Metal, Wood, Plastic, Glass. On the basis of Application, the market is divided into Residential (Upholstered furniture, Non-upholstered furniture, Bedroom, Kitchen Cabinet, Dining Room, Blinds & Shades, Mattresses) ( Commercial (Business/Office, Educational, Healthcare, Hospitality). On the basis of Distribution Channel, the market is fragmented into Home Centers, Flagships Stores, Specialty Stores, Online.
The Furniture Market Trends
For its role in enhancing the comfort, beauty, and functionality of living areas, furniture is in high demand.
The enterprises that are currently restructuring their workplaces & recovering from the impact of COVID-19, which resulted in social alienation, the cessation of commercial operations, and operational issues, are primarily responsible for the market’s development.
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The Furniture Market Regional Analysis
Geographically, 46% of 2020’s furniture market revenue came from Asia-Pacific. The growing disposable income of people in this region is mostly to blame for this. Due to the increasing popularity of online shopping, where furniture makers sell their products, Asia-Pacific is regarded as the world’s largest region in the furniture business. In addition, the government of India’s fast-expanding real estate construction projects, particularly in urban areas, are stimulating this region’s furniture sector.
Luxury Furniture Market: By Product (Lighting, Tables, Chairs and Sofas, Executive Desks, Storage, Beds, Carpets and Carpet Pillows) Material (Metal, Wood, Plastic, Glass, Leather) End User (Residential (Kitchen, Living and bedroom, Bathroom, Outdoor, Lighting), Commercial (Office, Hospitality), Others) and Geography
Home Furniture Market: by Product (Living Room and Dining Room Furniture, Bedroom Furniture, Kitchen Furniture, Lamps and Lighting Furniture, Plastic and Other Furniture) Material Type (Wooden, Metal, Glass, Plastic, Others) Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online Stores, Other Distribution Channels) and Geography
Outdoor Furniture Market: By Material (Wood, Metal, Plastic, Textile) Product (Chairs, Tables, Seating sets, Dining sets, Loungers & day beds) End User (Residential, Commercial) Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online) and Geography
Furniture Logistics Market: By Type (Transportation and Warehousing and Distribution), By Application (Furniture Factory and Furniture Distributor) and Geography
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