DUBLIN--(BUSINESS WIRE)--The "RTA Furniture Market - Segmented by End-User (Residential RTA Furniture, Commercial RTA Furniture), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global RTA furniture market is projected to grow at the rate of 5.6% during the forecast period 2018 to 2023.
The market is expected to witness a strong growth during the forecast period owing to the growth in real estate sector, increase in urbanization rate and discretionary spending on furnishing products.
Moreover, the trend of working from home is on rise, which, in turn has increased the demand for home office furniture in the form of space saving modular units.
However, complexity in supply chain & logistics, long replacement cycle, uncertainty in raw material costs, and easy availability of counterfeit products are restraining the growth of RTA furniture market.
The global RTA furniture market is highly fragmented market and comprises of many big and mid-sized competitors. There is an intense competition between the key vendors, leading to the introduction of innovative RTA furniture in the market.
Key Highlights
- Convenience of RTA furniture
- Rising Demand for Customized RTA Furniture
- High Penetration of Organized Retail
- Use of Social Media to Generate Product Awareness
- Asia-Pacific to Witness Strong Growth in RTA Furniture Market
Developments in the Market
- September 2018 - Wayfair and Cosmopolitan Magazine launched new furniture line. Manufacturing partners include Dorel Home, Rugs America, and Westport Linens.
- 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.
Companies Profiled
- Inter IKEA Systems B.V.
- Dorel Industries Inc.
- Ashley Home Stores Ltd.
- Steinhoff International
- Tvilum A/S
- Simplicity Sofas
- Home Reserve
- Sauder Woodworking Company
- Fabritec (EUROSTYLE)
- Bush Industries Inc.
For more information about this report visit https://www.researchandmarkets.com/research/twrqt9/worldwide_rta?w=4
