The latest report by IMARC Group, titled “Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global luxury furniture market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
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 refer to movable articles made by skilled craftsmen using high-end quality materials and unique styles. They are manufactured with metal, glass, velvet, silk, and wood that provide a rich and elegant look to the pieces. They also add to the aesthetic value of residential and commercial establishments such as homes, hotels, offices, cafes, and other indoor or outdoor areas. In recent years, the changing lifestyles and constantly improving living standards in the urbanized regions have escalated the demand for luxury furniture across the globe.
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Global Luxury Furniture Market Trends:
The market is primarily driven by the expanding real estate sector across the globe. Nowadays, with the rising construction of commercial and residential spaces, individuals are widely adopting luxury furniture to enhance the overall look. In addition, the increasing disposable incomes have inclined the consumers to purchase luxury items that act as a status symbol and add value to a space, representing another major growth-inducing factor. Besides this, with the growing influence of social media platforms on purchasing decisions of consumers, various key players are investing in digital marketing campaigns and celebrity endorsements to expand their consumer base.
This, coupled with the escalating demand for eco-friendly luxury furniture, is positively influencing the market growth. Moreover, the introduction of innovative designs and the expanding hospitality industry in emerging economies are also creating a positive market outlook.
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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
- Commercial Sectors
- Living Room And Bedroom
Breakup by Raw Material:
Breakup by Distribution Channel:
- Conventional Furniture Stores
- Specialty Stores
- Online Retailers
Breakup by 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)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impacton 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:
- Scope and Methodology
- Executive Summary
- 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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