Luxury Furniture Market Overview 2020-2027 : Size, Growth Analysis, Demand and Forecast Report

Posted November 19, 2020 by pankajrathi

Increase in adoption of online retailing methods is the driving factor which is expected to boost the growth of global luxury furniture market growth.
Global Luxury Furniture Market was valued at USD 26,937.6 million in 2019 which is expected to reach USD 32,497.2 million by 2027 at a CAGR 5.1%.

The global Luxury Furniture market is studied in detail in the new report on Qualiket Research. The new report studies the Luxury Furniture market by profiling its major driving factors and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and by using easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods.

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Increase in hospitality and infrastructure in developing countries is the market boosting factor which is expected to grow the global luxury furniture market over the forecast period. Growing adoption of luxury furniture in kitchen bedroom, living room, offices, corporate will influence the market growth.

Market Drivers
Increase in adoption of online retailing methods is the driving factor which is expected to boost the growth of global luxury furniture market growth. Furthermore, increase in demand for eco-friendly luxury furniture will have the positive impact on market growth. Moreover, increase in urbanization and globalization is expected to fuel the market growth. Also, change in life style with increase in disposable income will drive the market growth during this forecast period. Significant growth in real estate industry will increase the demand for luxury furniture which is expected to propel the market growth in near future.

Market Restraints
However, lack of skilled workers across luxury furniture and rise in raw material prices are the restraining factors which are expected to hamper the global luxury furniture market growth.

Market Key Players
Various key players are discussed in this report such as Turri S.r.l., Henredon Furniture Industries Inc., Nella Vetrina, Iola Furniture Ltd., Laura Ashley, Scavolini, Giovanni Visentin, Valderamobili, Muebles Pico, and Duresta Upholstery Ltd.

Market Taxonomy
By Material
• Leather
• Glass
• Wood
• Plastic
• Metal
• Others
By End Use
• Domestic Use
o Living & Bedroom
o Outdoor
o Lighting
o Kitchen
o Bathroom
• Commercial Use
o Hospitality
o Office
o Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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Issued By qualiket research
Country India
Categories Business
Tags luxury furniture market
Last Updated November 19, 2020