RTA Furniture Market Analysis
Global RTA Furniture Market Size is anticipated to touch USD 146.86 billion at a 3.80% CAGR between 2016-2025, states the latest Market Research Future (MRFR) report. RTA furniture is also known by other names such as ready-to-assemble furniture, kit furniture, flat-pack, or knock-down for its convenience as well as less occupancy. These furniture pieces are generally constructed from plastic and particleboard with wood veneer to offer the finish of wood or colored melamine. The specialty of RTA furniture is it comes with simple assembling instructions, is easy to transport, and above all, is immensely customer-friendly.
Various factors are propelling the global RTA furniture market growth. Such factors, according to the latest Market Research Future report, include rising per capita income, increasing product penetration, a growing number of online distribution channels, expanding residential housing sector, and the increase in the trend to work from home. Additional factors propelling the growth of the RTA furniture market include discretionary spending on furnishing products, rise in urbanization rate, growing real estate sector, low cost compared to traditional fixtures, increasing trend to shift to new places for business or job purpose, rising popularity of high rise buildings, and shifting consumer preference for flexible furniture due to rising trend for apartments that are small spaced.
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On the contrary, lack of awareness, especially among the general population, fluctuating raw material costs, easy accessibility of counterfeit products, and complexities related to assembling RTA furniture are factors that may impede the RTA furniture market growth during the forecast period.
RTA Furniture Industry News
September 2019: Ashley Furniture has acquired the Homestar facility in North Carolina for producing RTA furniture.
RTA Furniture Market Segmentation
The Market Research Future report offers a complete segmental analysis of the RTA furniture market based on distribution channel, end use, and material type.
By material type, the RTA Furniture Market is segmented into lacquered panels, laminates, finished foils, wrapped panels, steel, glass, melamine, and wood. Of these, the wood segment will dominate the market during the forecast period. The wood segment is again segmented into chipboard, plywood, veneers, and others. Of these, veneers are the most widely used for their decorative look and elegant finish.
By end use, the RTA furniture market is segmented into household and commercial. Of these, the residential segment will lead the market during the forecast period. It is anticipated to expand at a 3.50% CAGR.
By distribution channel, the RTA furniture market is segmented into non-store-based and store-based. Of these, the store-based RTA furniture distributors will have the maximum share in the market during the forecast period.
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RTA Furniture Market Regional Analysis
By region, the RTA furniture market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, the Americas, and the Rest of the World (RoW). Of these, North America will dominate the market during the forecast period. It is anticipated to expand at a 3.59% CAGR. Various factors propelling the growth of the RTA furniture market in the region include growing demand for convenience products, increasing per capita income, and low cost of RTA furniture. The US is a major contributor in this region owing to the presence of several RTA furniture manufacturers in the USA.
The RTA furniture market in the APAC region will have a healthy growth during the forecast period, and it is anticipated to expand at a 3.59% CAGR. The increasing middle-income population, coupled with urbanization, is adding to the growth of the RTA furniture market in the region.
The European market for RTA furniture will have a notable growth during the forecast period for the rising per capita income and growing housing market. The UK, France, and Germany are the major contributors in this region.
The RTA furniture market in the RoW will have a steady growth during the forecast period.
Browse Related Reports:
- Global Luxury Furniture Market Information by Raw Material (Wood, Metal, Plastic, and others) by Retails Formats (Furniture retailers, Departmental stores, Online retailing, and others) by End-use (Residential and Commercial) and Region – Forecast to 2021
- Furniture Market Size, Share Analysis information: by Type (RTA & Non-RTA), Material Type (Wood, Melamine, Glass, Steel, Wrapped Panels, Finished Foils), Furniture Type (Chairs, Sofas, Tables, Beds), End-Use (Commercial & Household), and by Region – Global Forecast till 2025
RTA Furniture Market Key Players
Notable players profiled in the RTA furniture market report include Kimball International, Inc. (US), The Godrej and Boyce Mfg. Co. Ltd (India), Dunn’s Furniture (US), Venture Horizon Corporation (US), HNI Corporation (US), Herman Miller, Inc. (US), Cymax Group Inc. (Canada), Inter IKEA Systems B.V.(Netherlands), Sauder Woodworking Company (US), and Dorel Industries Inc.(Canada). Key RTA furniture companies have incorporated specific strategies to stay head and shoulders above others in the competition, such as partnerships, acquisitions, collaborations, and more.
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