Furniture Market To Observe Huge Development Worth $718.3 Billion By 2025 Due To Increasing Demand For Branded Furniture And Growing Consumer Spending | Million Insights

 Breaking News
  • No posts were found

Furniture Market To Observe Huge Development Worth $718.3 Billion By 2025 Due To Increasing Demand For Branded Furniture And Growing Consumer Spending | Million Insights

May 24
10:56 2021
Furniture Market To Observe Huge Development Worth $718.3 Billion By 2025 Due To Increasing Demand For Branded Furniture And Growing Consumer Spending | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global furniture industry research report offers thorough insights on material, end-use, scope, size, share and global demand. This enables numerous opportunities for the market players to invest in research and development.

The global furniture market size is projected to account for USD 718.3 billion by 2025, as per a new report by Million Insights. It is projected that the market would register over 5% CAGR from 2018 to 2025. With increasing consumer spending, the demand for branded furniture has increased over the past few years. In addition, emerging countries are witnessing significant growth in the commercial and residential construction, which in turn, offer lucrative growth opportunity.

In 2017, the commercial division accounted for over 30% share in the market. Hotels, public buildings and offices together contribute to the growth of the commercial sector. With the growing infrastructural development, the commercial segment is projected to witness lucrative demand over the next few years. Especially, countries such as China and India are going through the industrial revolution.

To download the sample PDF of “Furniture Market” Report please click here: https://www.millioninsights.com/industry-reports/furniture-market/request-sample 

 

Growing urbanization and population worldwide is fostering the demand for furniture. With the increasing urbanization, there has been significant growth in the construction of restaurants, hotels, residential and commercial building. Furniture not only assists with day to day functions such as eating, resting and sleeping, but it has become an essential part for home décor as well. 

Key players operating in the furniture market are HNI Corporation, Herman Miller, Inc., AFC SYSTEMS, BERCO DESIGNS, OKAMURA CORPORATION and Ashley Furniture Industries, Inc. among others. These players are increasingly focusing on the development of cost-effective sports furniture owing to the increasing demand from consumers.   

To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/furniture-market

 

Further key findings from the report suggest:

• Based on the material, the wood segment accounted for over 30% share in the market in 2017.

• MEA region is projected to register significant growth owing to rising tourism industry coupled with increasing construction of residential and commercial buildings.

• Asia Pacific held more than 40.0% share in the global market in 2017, owing to a rise in demand from China and India.

• Residential category held the highest share in the market in 2017 as increasing urbanization has led to the rise in the residential construction.

Million Insights segmented the global furniture market based on material, end use and region:

Furniture Material Outlook (Revenue, USD Billion, 2014 – 2025)
    • Metal
    • Wood
    • Plastic
    • Glass
    • Others

Furniture End-Use Outlook (Revenue, USD Billion, 2014 – 2025)
    • Residential
        • Kitchen & Dining
        • Living Room
        • Bedroom
        • Outdoor
        • Others
    • Commercial
        • Offices
        • Hotels
        • Others

Furniture Regional Outlook (Revenue, USD Billion, 2014 – 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
    • Asia Pacific
        • China
        • India
        • Japan
        • Singapore
        • Malaysia
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

Browse latest market research reports available with Million Insights:

• Personal Protective Equipment Market: With reference to the report published, the global personal protective equipment market was prized by USD 77.36 billion, in 2020. It is estimated to witness 7.3% CAGR, from 2020 to 2028.

• Electric Kick Scooters Market: With reference to the report published, the global electric kick scooters market was prized by USD 2.5 billion in 2020. It is estimated to witness 10.3% CAGR from 2021 to 2028.

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/furniture-market

Categories