Luxury Furniture Market Insights
The global economic development has led to rising standards of living. The influx of people in urban areas in conjunction with rising disposable income is expected to generate demand for high-end products in the upcoming years. As per Market Research Future (MRFR), the global luxury furniture market is projected to expand at a steady but constant CAGR over the assessment period 2016 to 2021.
Changing lifestyle in conjunction with shifts in aesthetic preferences are expected to keep the market on its growth trajectory over the next couple of years. The growth of the hospitality sector is also forecasted to catalyze the growth of the luxury furniture market through the projection period. Increasing demand from hotels and resorts are anticipated to accelerate revenue generation for the industry leaders. Also, the increasing number of designer furniture stores and luxury furniture brands are expected to propel market expansion in the forthcoming years.
The introduction of new designs and innovations are expected to act as the growth catalyst to the luxury furniture market over the assessment period. Key players are also emphasizing on the development of new materials for the production of this furniture. Some of the materials that have gained popularity among the manufacturers are metal, wood, and plastic. Also, the shift being witnessed towards biodegradable product materials is anticipated to emerge as the growth trend of the market in the nearby future.
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In May 2019, Baccarat Crystal, a French manufacturer of fine crystal glassware, has ventured into the furniture market with its complete furniture collection – Baccarat La Maison, that features glamorous high-end furniture.
In May 2019, Mount Pleasant, Michigan, has got a new luxury furniture store filled with new and renovated furniture. It is a joint venture of Franklin business owner Lisa Biggers and a local entrepreneur Michelle Morgan.
The prominent players expected to contribute to the development of the global luxury furniture market are
- Duresta Upholstery Ltd.
- Giovanni Visentin s.r.l.
- Valderamobili s.r.l.
- Scavolini Spa
- Turri S.r.l.
- Iola Furniture Ltd.
- Henredon Furniture Industries Inc.
- Laura Ashley Holding Plc
- Muebles Pico
By raw material, the global luxury furniture market has been segmented into wood, metal, plastic, and others.
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Some Important Table Contents:
LIST OF FIGURES
FIGURE 1 Global Luxury Furniture Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis Of Global Luxury Furniture Market
FIGURE 4 Value Chain Of Global Luxury Furniture Market
FIGURE 5 Share Of Global Luxury Furniture Market In 2019, By Country (%)
FIGURE 6 Global Luxury Furniture Market, By Region, 2019–2024
FIGURE 7 Global Luxury Furniture Market Size, By Product Type, 2019
FIGURE 8 Share Of Global Luxury Furniture Market, By Product Type, 2019–2024 (%)
FIGURE 9 Global Luxury Furniture Market Size, By Material Type, 2019
FIGURE 10 Share Of Global Luxury Furniture Market, By Material Type, 2019–2024 (%)
FIGURE 11 Global Luxury Furniture Market Size, By Furniture Type, 2019
FIGURE 12 Share Of Global Luxury Furniture Market, By Furniture Type, 2019–2024 (%)
FIGURE 13 Global Luxury Furniture Market Size, By End Use, 2019
FIGURE 14 Share Of Global Luxury Furniture Market, By End Use, 2019–2024 (%)
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This post was originally published on Trading Herald