Arcognizance.com shared the report on “Global Luxury Furniture Market Analysis and Forecast 2019-2025” to its database. It provides detail study on industry size, leading players profiles, CAGR and segmented analysis by applications, verticals, products and regions.
Global Luxury Furniture Market valued approximately USD 22.94 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.22% over the forecast period 2018-2025. The Luxury Furniture Market is continuously growing in the global scenario at a significant pace. Luxury furniture refers to the premium quality articles like tables, chairs, or beds, which are often made by skilled craftsmen. It is used to enhance the aesthetic value of an institution such as homes, hotels, offices and other indoor or outdoor areas. Growth and developments in the real estate industry, rise in disposable incomes, increase in the population living in urban areas and growing environmental consciousness among consumers are the substantial driving factors of the market during the forecast period.
Moreover, the rising development of multifunctional furniture is the factor which likely to create numerous opportunity in the market during the forecast period. Further, luxury furniture offers several benefits such as it is more durable, it is a more eco-friendly manufacturing process, it has high sustainability and many more. These benefits are also boosting the demand for luxury furniture among its end-users across the globe. However, the lack of a skilled workforce and the presence of fake material are the factors that limiting the market growth of Luxury Furniture across the globe.
The regional analysis of Global Luxury Furniture Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to rapidly growing advancements in luxurious furniture and increasing disposable income of the individuals in the region. Further, Europe is estimated to grow at a higher growth rate in the global Luxury Furniture market over the upcoming years. Asia-Pacific is also anticipated to exhibit higher growth rate/CAGR over the forecast period 2018-2025 due to changing lifestyle & consumer behavior and rising urbanization among people in the region.
The major market player included in this report are:
Ashley Furniture Industries
Inter IKEA Group
Red Barrel Studio
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Luxury Furniture Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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