Report Overview:
The following report titled “Global Luxury Furniture Market: By Type (Indoor Furniture [Bedroom Furniture, Dining Furniture, Office Furniture, Kitchen Furniture, Living Room Furniture], Outdoor Furniture [Patio Furniture, Rooftop Furniture, Beachfront Furniture, Others]) and other forecast 2024-2030” provides a comprehensive analysis of the market, focusing on key details such as market size, growth trends, determinants of growth, segments covered, and the role of leading players in the industry.
Global Luxury Furniture Market Summary
The Global Luxury Furniture Market size is valued at around USD 27.65 billion in 2023 is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-2030. The ongoing trend of urbanization results in smaller living spaces in urban areas. As a result, there is a growing need for compact and multifunctional luxury furniture, which can be both stylish and space-saving. According to the United Nations Conference on Trade and Development (UNCTAD), 57% of the total world population lived in urban areas in 2021, which is further expected to rise to nearly 68% by 2030, leading to the enhancement of commercial & residential construction in the coming years.
Report Coverage & Details
- Forecast Period: 2024-2030
- Base Year: 2023
- Market Size in 2023: USD 27.65 Billion
- CAGR: 5.67%
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Luxury Furniture Market Driver:
Increasing Development of 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 2018-21. 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 market growth during 2024-2030.
Segmentation Analysis: Luxury Furniture Market
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)
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)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Region: Rrrr Holds a Major Market Share
Among all regions globally, Rrrr is anticipated to dominate the Luxury Furniture Market with the largest share during 2024-30..
Leading Players Analysis: Luxury Furniture Market
The report provides detailed analysis of key players in the global Luxury Furniture market, highlighting their strategies and competitive scenario.
- 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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