Unlocking Potential: Luxury Furniture Market Growth and Trends Analysis for 2030

Quick Overview of the Global Luxury Furniture Market Analysis

The Global Luxury Furniture Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.

Detailed Analysis of Luxury Furniture Industry (2024-30): Reveals Further Growth &Market Expansion

According to the most recent study, 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 report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024-30.

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Global Luxury Furniture Market 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

-By Type

• Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)

-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)

-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)

Explore Our Comprehensive Study:  https://www.marknteladvisors.com/research-library/luxury-furniture-market.html

Geographical Analysis:

-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. Therefore, they are shifting from cheap luxury furniture to exquisite modern luxury furniture, leading to significant sales in North America.

Key Players and Competitive Strategies in the Luxury Furniture Market

The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:

• 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
• Others

Customization of Reports Available – https://www.marknteladvisors.com/query/request-customization/luxury-furniture-market.html

Global Luxury Furniture Industry Recent Development:

• 2024: B&B Italia introduced new outdoor luxury furniture products, designed by renowned designers, namely Mario Bellini & Monica Armani.
• 2023: Kimball International Inc. partnered with two designers to launch a unique lounge solution for consumers.

Key Report Highlights

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography and product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
7. 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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