Luxury Furniture Market Comprehensive Analysis and Forecast 2024 to 2030

Markntel Advisors’ report, Luxury Furniture Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Luxury Furniture presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Luxury Furniture Market Research Report & Market Summary:

The Global Luxury Furniture Market size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-30. The main factors contributing to the increased demand for contemporary luxurious furniture are the booming real estate sector and the growing consumer focus on aesthetic indoor design.

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Luxury Furniture Market Dynamics:

Key Driver-

Expanding Real Estate Sector to Escalate Market Growth – During the historical years, the consistent growth of the real estate sector, especially in the luxury and upscale property segment, significantly contributed to the increased demand for high-end furniture in both residential and commercial spaces. In addition, the expansion of service-based industries, such as ICT, telecommunication, etc., has widely supported the demand for luxurious furniture during 2019-23. The key factors attributed to the rising service expansion are the growth initiatives of the global economies such as India, China, the UAE, Saudi Arabia, etc., to launch flexible FDI policies, taxation relations, and minimum barriers on entry and exit, with an intent to boost their gross domestic product (GDP) growth. Therefore, global economies are witnessing an accumulation in investments to expand new office spaces & warehouses across numerous regions, which is expected to enhance the luxury furniture industry growth during 2024-2030.

Luxury Furniture Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Type

Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Bedroom Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Dining Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Office Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Kitchen Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Living Room Furniture- Market Size & Forecast 2019-2030, (USD Million)
Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Patio Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Rooftop Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Beachfront Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Others (Poolside, Deck Furniture, etc.)- Market Size & Forecast 2019-2030, (USD Million)

Of them all, the outdoor furniture segment holds a substantial market share in the Global Luxury Furniture Market. The demand for outdoor luxury furniture is increasing due to the growing focus of consumers on utilizing the balcony spaces & their terraces.

By Type of Furniture

Bed- Market Size & Forecast 2019-2030, (USD Million)
Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
Cabinets & Nightstand- Market Size & Forecast 2019-2030, (USD Million)
Others- Market Size & Forecast 2019-2030, (USD Million)

By Material

Wood- Market Size & Forecast 2019-2030, (USD Million)
Plastic- Market Size & Forecast 2019-2030, (USD Million)
Leather- Market Size & Forecast 2019-2030, (USD Million)
Others (Glass, Metal, etc.)- Market Size & Forecast 2019-2030, (USD Million)

The high durability and aesthetic design offered by wooden materials in the luxury furniture industry positively supported the growth of the wood segment during the historical years.

By Distribution Channel

Direct Sales- Market Size & Forecast 2019-2030, (USD Million)
Indirect Sales- Market Size & Forecast 2019-2030, (USD Million)
Online Platform- Market Size & Forecast 2019-2030, (USD Million)

By End User

Residential- Market Size & Forecast 2019-2030, (USD Million)
Offices- Market Size & Forecast 2019-2030, (USD Million)
Commercial & Retail- Market Size & Forecast 2019-2030, (USD Million)
Hospitality- Market Size & Forecast 2019-2030, (USD Million)
Others (Government Agencies, etc.)- Market Size & Forecast 2019-2030, (USD Million)

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific.

Geographically, North America accounted for a considerable luxury furniture market share during the historical years. The increasing disposable income in the US, Canada, etc., and the rising focus of individuals on aesthetics and urban lifestyles are leading to the increased usage of high-end furniture. Along with this, buyers are shifting their preference toward quality and stylish furniture products.

As indicated in the latest market research report published by Markntel Advisors, “Luxury Furniture Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Luxury Furniture industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/luxury-furniture-market.html

Top Companies Operating in the Luxury Furniture Market:

Cassina S.p.A.
Kimball International Inc.
Marge Carson
Fendi Casa
Brown Jordan Inc.
B&B Italia
Marioni
Boca Do Lobo
Duresta
Bentley Home
Natuzzi
Haworth, Inc.
West Elm
Pico Muebles
Maiden Home

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Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

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What are the trends influencing the current scenario of the market?
What leading factors would propel and impede the industry across the geography?
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Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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