Rising Demand for Stylish and Comfortable Furnishings among Residential Buyers drives Home Furniture Market
Home furniture forms an integral part of home décor and furnishings in living rooms of consumers across the world. The intensifying focus on decorating their living spaces with creative pieces of furniture innovative design is a key factor boosting the home furniture market. The growing proclivity of residential buyers to opt for ingeniously-designed furnishings to make the most of the available space is helping in creating exciting avenues for manufacturers of home furniture. The global home furniture market is expected to grow from strength to strength from the rising demand for high-quality furnishings to suit different preference and aesthetic value of consumers, world over. The home furniture market is benefitting increasingly from the advent of furniture that promises to enhance the comfort substantially. The overall demand is increasingly fueled by the rise in urbanization, especially in emerging economies. The growing uptake of smart furniture in the hospitality sector to allure customers is a notable factor expanding the home furniture market.
Growing Trend of Smart Furnishing catalyzing Home Furniture Market
Integrating home furniture with technology can be a potentially compelling proposition for manufacturers to meet the demand for smart furniture among residential as well as hospitability buyers. The advent of remote-controlled home furniture is a case in point. There is a growing demand for home furniture integrated with user-friendly electronic technologies that enhance the level of comfort for end users. Apart from this, there is a profuse demand for multi-purpose home furniture, especially among residential buyers. Pieces of multi-purpose furniture such as sofa cum beds, hydraulic beds, foldable tables, and bed with storage are gaining massive popularity among home buyers who want to make optimal use of living spaces. This is a crucial trend among urban buyers, which is expected to fuel the expansion of the home expansion market.
Aesthetics as well as Functionality key Aspects in Deciding Raw Materials and Additives for Making Home Furniture
Over the past few years, focus on aspects such as functionality and durability of products are gaining equal significance as the aesthetics of the pieces in the home furniture market. The growing popularity of home furniture that are made of durable raw materials is catalyzing the expansion of the market. This is evident in the growing adoption of rust-free aluminum and engineered wood coating in making home furniture among manufacturers to meet the need of furniture in garden, patios, terraces, and balcony among hotel and restaurant owners. The useful property of being weather-resistant, these home furniture are expected to witness higher uptake in the hospitality industry in the coming years.
Among the various raw materials for making home furniture, the demand for plastics is anticipated to rise at a prominent pace through 2022. However, home furniture made of wood is expected to collect substantial revenues in the coming years.
About the Report
The report titled “Home Furniture Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022” offers a critical tracking of various elements of key growth dynamics of the home furniture market. The report offers insights into the revenue share and size of various segments in the global home furniture market. The study assesses factors and trends impacting the revenue generating potential of key product types in the home furniture market, including of beds and mattresses, sofas and armchair, entertainment units, storage units, upholstery, table and desks, dining, and kitchen furniture. The analysis also evaluates the prospects of various raw material used in making home furniture such as wood, metal, glass, and plastic. It also highlights lucrative avenues in various distribution channels in the home furniture market such as retail store, direct to consumer, manufacturer stores, e-commerce stores, discount stores, rental stores, club stores, and do-it-yourself (DIY) stores.
Home furniture are essentially movable furnishings that can be used for sitting, resting, sleeping, and eating. Various type of home furniture with varied designs and comfort level are extensively demanded among homes, hotels, and restaurants. Over the past few years, multi-purpose and smart pieces of furniture have gained popularity to meet the rising demand in the home furniture market, in order to meet the criteria of aesthetics and functionality. In recent years, consumers are increasingly demanding home furniture that are integrated with exciting technologies, notably remote-controlled mattresses and furniture.
Additional Questions Answered
The report takes a critical look at key factors shaping the contours of the home furniture market and shines light on most pertinent aspects. It does so by providing answers to some of the most notable trends, including:
- Which distribution channels other than retail channels are expected to pick up substantial demand over the assessment period?
- Why will plastics as raw material for home furniture garner a relatively higher CAGR than others?
- What factors are likely to make hospitality end-user industry increasing lucrative in the home furniture market over the assessment period?
- What makes Europe the most prominent market for home furniture?
- Which technologies will gain popularity in the home furniture market?
The findings and evaluations presented in the research report titled “Home Furniture Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022” are based on granular assessment of various factors, trends, and growth dynamics shaping the contours of the home furniture market. The study offers insights into the current opportunities in the home furniture market and lucrative avenues in key regions. The report analyzes the prospects of various segments of the home furniture market. To this end, the study presents detailed quantitative assessment of their growth projections, year-over-year growth figures, CAGRs, revenue share of the segments, and size in the global home furniture market. The analyses also takes a critical look at the prevailing competitive dynamics and the strategies of various players that play crucial role in shaping the trajectories of the global home furniture market. Various assessment and analyses of the home furniture market growth dynamics are presented in 13 chapters.
Chapter 1 – Executive Summary
The report begins with a critical executive summary of the home furniture market, its current outlook, prominent avenues, and a concise evaluation of the key factors shaping investment pockets. The section offers a succinct overview of the regional growth trajectories of the home furniture market and opportunities in various segments.
Chapter 2 - Outline of Global Home Furniture Market
This chapter offers a broad snapshot of the home furniture market dynamics. The section details the taxonomy of the market and offers insights into its size and growth forecast. Key drivers, prominent trends, and notable restraining factors for home furniture market are highlighted and analyzed in this section. It offers supply chain dynamics, the regulatory framework, and an analysis of average pricing prevailing in the home furniture market.
Chapter 3 – Product Type Assessment and Forecasts of Global Home Furniture Market
The section offers revenue share and Y-o-Y growth figures of the various key product types in the home furniture market during the forecast as well historical period. The chapter offers revenue of these product segments and compares their revenue based on different region. Key segments of the home furniture covered here are beds and mattresses, sofas and armchair, entertainment units, storage units, upholstery, table and desks, dining, and kitchen furniture.
Chapter 4 – Material Type Assessment and Forecasts of Global Home Furniture Market
This section takes a closer look at the prospects of various materials used in the home furniture market such as wood, metal, glass, and plastic. It presents insights into the size of these segments during 2012 – 2022. The chapter compares their revenue in different regions to assess the regional contribution of these types.
Chapter 5 – Distribution Channel Assessment and Forecasts of Global Home Furniture Market
This chapter details the factors driving opportunities in various distribution channels in the home furniture market. It offers estimations and projections of the Y-o-Y growth of these segments during 2012–2022. Various distribution channels for home furniture analyzed in the report are direct to consumer, manufacturer stores, e-commerce stores, discount stores, rental stores, club stores, and do it yourself (DIY) stores.
Chapter 6 – Regional Channel Assessment and Forecasts of Global Home Furniture Market
This section offers a detailed evaluation of the prospects of various regions in the global home furniture market. It takes a closer look at regional trends underpinning new avenues and product development initiatives. Key regional markets covered in the home furniture market assessment are North America, Latin America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the Middle East and Africa (MEA). The section offers a comparative analysis of the revenue of these key regions, especially with respect to various product types, distribution channels, and material type.
Chapter 7 – North America Assessment and Forecasts of Global Home Furniture Market
The section delves deeper into the opportunities and demand dynamics of the North America home furniture market. Key countries whose prospects analyzed here are the U.S. and Canada.
Chapter 8 – Latin America Assessment and Forecasts of Global Home Furniture Market
This section takes a granular assessment of the regional trends and factors shaping the revenue contribution of Latin America to the global home furniture market. Various countries analyzed in the report are Argentina, Brazil, and Mexico.
Chapter 9 – Europe Assessment and Forecasts of Global Home Furniture Market
The chapter zeroes on in lucrative avenues in the Europe home furniture market. It gives a critical account of trends that will underpin extensive demand for home furniture in the region, by taking a closer look at the demand dynamics in countries such as the U.K., Germany, France, Spain, Italy, and the Nordics.
Chapter 10 – Japan Assessment and Forecasts of Global Home Furniture Market
The study takes a critical look at investment pockets and prospects of Japan and estimates its current share and future projection in the global home furniture market.
Chapter 11– APEJ Assessment and Forecasts of Global Home Furniture Market
This chapter looks at the demand patterns and avenues in the APEJ home furniture market. Countries whose scenarios are analyzed here are China, India, Malaysia, Thailand, Singapore, and Australia.
Chapter 12– MEA Assessment and Forecasts of Global Home Furniture Market
The section of the report offers an incisive analysis of the opportunities and demand in the MEA market for home furniture. Various countries covered in more detail here are GCC, South Africa, Nigeria, and Israel.
Chapter 12– Stakeholder Ecosystem and Competitive Landscape of Global Home Furniture Market
The study takes a closer look at the prevailing competitive dynamics and strategic dynamics that influence the scenario. The chapter offers an elaborate insight into the profile of key players, their sales data and key financials, and prominent product development measures taken by them in recent times to gain a better foothold in the home furniture marker. Key companies profiled in the report are Ashley Furniture Industries, La-Z-Boy Incorporated, Flexsteel Industries, Inc., Inter Ikea Systems B.V., Nitori Co Ltd., Suofeiya Home Collection Co Ltd., asset Furniture Industries Inc., Steinhoff International Holding N.V., Herman Miller Inc., Kimball International, Inc., Williams-Sonoma, Inc., Berkshire Hathaway, and Steelcase.
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