DUBLIN--(BUSINESS WIRE)--The "Residential Furniture Market - Segmented by End-User (Living Room Furniture, Bedroom Furniture, Other Residential Furniture), Distribution Channel and Geography - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global residential furniture market is projected to grow at the rate of 4.4% during the forecast period 2018 to 2023. There is intense competition between the key vendors, leading to the introduction of many innovative residential furniture in the market.
The market is expected to witness a strong growth during the forecast period owing to the growth in housing units, increasing urbanization rate, rise in demand for RTA ready to assemble) furniture, multi-functional, and eco-friendly furniture, supported by increasing popularity of home decor products.
However, complexity in supply chain & logistics, long replacement cycle, fluctuations in raw material costs, and easy availability of counterfeit products are restraining the growth of residential furniture market.
Key Highlights
- Surge in Sales of RTA and Multi-Functional Furniture
- High Penetration of Organized Retail in Residential Furniture Market
- Rising Demand for Customized Residential Furniture
- Use of Social Media to Generate Product Awareness for Residential Furniture Market
- Asia-Pacific to Witness Strong Growth in Residential Furniture Market
Developments in the Market
- March 2018 - Inter IKEA Systems received a Red Dot Award for its innovative product design. Red Dot Award is an internationally organized competition which reviews the best products of the year.
- March 2018 - Inter IKEA Systems launched IKEA Place app on Android. It allows the consumers to imagine their home furnishing using AR.
- August 2018 - Inter IKEA Systems opened up its first store in India. Ikea team had visited over 1,000 homes in India with varied income levels and lifestyles to understand the Indian market.
- December 2017 - Inter IKEA Systems has planned to open up a new plant in Ukraine in order to provide home furnishing products and solutions at affordable prices
Topics Covered
1. Introduction
2. Residential Furniture Market Insights
3. Residential Furniture Market Dynamics
4. Residential Furniture Market Segmentation
5. Residential Furniture Market By Geography
6. Residential Furniture Market Competitive Landscape
7. Company Profiles
- Inter IKEA Systems B.V.
- Century Furniture LLC.
- Ashley Home Stores Ltd.
- La-Z-Boy Incorporated
- Williams-Sonoma Inc.
- Legends Furniture
- Heritage Home Group
- Bernhardt Furniture Company
- Herman Miller Inc.
- Vaughan-Bassett Furniture Company
For more information about this report visit https://www.researchandmarkets.com/research/gdpfcf/the_global?w=4
