Luxury Furniture Market Exceeds USD 27.65 Billion in 2023, Projected to Surge with 5.67% CAGR by 2030

MarkNtel Advisors who is leading market research company, has recently published a research report, titled Global “Luxury Furniture Market”. The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2024-30. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.

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Market Study Period

Historical Data: 2019-22

Base Year: 2023

Forecast Period: 2024-29

CAGR (2024-2030): 5.67%

Global Luxury Furniture Market Insights:

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 report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.

Global Luxury Furniture Market Drivers:

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.

Explore the Complete Luxury Furniture Market Analysis Report - https://www.marknteladvisors.com/research-library/luxury-furniture-market.html

Which segments are covered in the Luxury Furniture Market Research Report?

By Type
- Indoor Furniture
  - Bedroom Furniture
  - Dining Furniture
  - Office Furniture
  - Kitchen Furniture
  - Living Room Furniture
- Outdoor Furniture
  - Patio Furniture
  - Rooftop Furniture
  - Beachfront Furniture
  - Others (Poolside, Deck Furniture, etc.)
- By Type of Furniture
  - Bed
  - Sofa Couch
  - Table Desk
  - Chair Stool
  - Wardrobes Dresser
  - Cabinets Nightstand
  - Others
- By Material
  - Wood
  - Plastic
  - Leather
  - Others (Glass, Metal, etc.)
- By Distribution Channel
  - Direct Sales
  - Indirect Sales
  - Online Platform
- By End User
  - Residential
  - Offices
  - Commercial Retail
  - Hospitality
  - Others (Government Agencies, etc.)
- By Region
  - North America
  - South America
  - Europe
  - The Middle East Africa
  - Asia-Pacific

Top 10 Key Brands/Players in the Luxury Furniture Market

Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:

Cassina S.p.A.
Kimball International Inc.
Marge Carson
Fendi Casa
Brown Jordan Inc.
BB Italia
Marioni
Boca Do Lobo
Duresta
Bentley Home
Natuzzi
Haworth, Inc.
West Elm
Pico Muebles
Maiden Home
Others

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Frequently Asked Questions

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