MarkNtel Advisors recently published a detailed industry analysis of the Global Luxury Furniture Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Luxury Furniture Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The 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.

Key Findings in Global Luxury Furniture Market:

• Historical Analysis: 2019–2022
• Base Year: 2023
• Forecast Period: 2024–2030

Leading Market Players- 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, Other

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global Luxury Furniture industry?

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.

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What segments define the Global Luxury Furniture Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

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)

According to report, Of them all, the outdoor furniture segment holds a substantial market share in the Global Luxury Furniture Market.

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)

According to report, The high durability and aesthetic design offered by wooden materials in the luxury furniture industry positively supported the growth of the wood segment during the historical years.

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

Geographical Analysis: Global Luxury Furniture Market

 By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

  Global Luxury Furniture Market 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 Questions Addressed in This Study

• What are the primary factors driving the growth of the Global Luxury Furniture Market?
• How is the Global Luxury Furniture Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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