$25+ Billion Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global luxury furniture market reached a value of US$ 25.4 Billion in 2020. Looking forward, the market to grow at a CAGR of around 5% during the 2021-2026.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.

Luxury furniture refers to movable pieces of furniture made by skilled craftsmen using the best quality material and designed with zero margin for error. It adds to the aesthetic value of the commercial and household establishments, such as hotels, offices, homes and other indoor and outdoor areas. The changing lifestyles and constantly improving living standards of the people in the urbanised regions are increasingly adopting luxury furniture. Moreover, manufacturers are coming up with striking new designs of furniture and collaborating with interior designers to increase their visibility to capture a wider customer base.

The significant growth in the real estate sector is continuously influencing the demand for luxury furniture across both the residential and commercial sectors. In addition to this, the increasing penetration of online retailing and growing population, particularly in the developing nations, are fostering the growth of the luxury furniture market.

Further, the rising disposable incomes have inclined the consumers towards purchasing luxury items which act as a status symbol and add value to a space, catalysing the global luxury furniture market.

Some of the other factors spurring the market growth are growing preference for branding and positioning, accelerating demand for eco-friendly luxury furniture, rising impact of globalisation, the low operational cost and expanding infrastructure investments.

Market Summary:

• Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, Europe is the leading market, accounting for the majority of the global market, followed by North America and Asia Pacific.
• Based on the raw material, wood accounts for the largest market share, followed by metal.
• On the basis of application, the market has been segregated into domestic and commercial sectors, wherein the domestic sector currently represents the largest segment, holding the majority of the total market. The domestic sector is further segmented as living room mattress and bedroom, kitchen, bathroom, outdoor and lighting. Whereas, the commercial sector is categorised as office, hospitality and others.
• On the basis of distribution channel, the market has been further categorised into conventional furniture stores, speciality stores, online stores, and others.
• On the basis of design, the market has been categorised into modern and contemporary.

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Key Industry Trends

6 Key Market Drivers and Challenges

7 Global Luxury Furniture Market

7.1 Market Overview

7.2 Market Performance

7.3 Impact of COVID-19

7.4 Market Forecast

8 Market Breakup by Region

8.1 North America

8.2 Europe

8.4 Latin America

8.5 Middle East and Africa

9 Market Breakup by Raw Material

9.1 Wood

9.2 Metal

9.3 Glass

9.4 Leather

9.5 Plastic

9.6 Multiple

10 Market Breakup by Application

10.1 Domestic

10.1.1 Living Room and Bedroom

10.1.2 Kitchen

10.1.4 Outdoor

10.1.5 Lighting

10.2 Commercial

10.2.1 Office

10.2.2 Hospitality

10.2.3 Others

11 Market Breakup by Distribution Channel

11.1 Conventional Furniture Stores

11.2 Speciality Stores

11.3 Online Retailers

12 Market Breakup by Design

12.1 Modern

12.2 Contemporary

13 Consumer Mapping

14 Branding and Promotion

15 Value Chain Analysis

16 Porters Five Forces Analysis

17 Competitive Landscape

17.1 Market Structure

17.2 Key Players

17.3 Profiles of Key Players

• Duresta Upholstery Ltd
• Valderamobili s.r.l.
• Scavolini SpaScavolini Spa
• GIOVANNI VISENTIN srl
• Nella Vetrina
• Muebles Pico S.A
• Heritage Home Group LLC
• iola Furniture Limited
• Turri S.r.l,Grayson Luxury
• Williams-Sonoma Inc.
• Cassina S.p.A.

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