Ready to Assemble (RTA) Furniture Market To Register CAGR of 5.9% By 2025 on Account of Increasing Preference For Space-Saving Furniture | Million Insights

Ready to Assemble (RTA) Furniture Market To Register CAGR of 5.9% By 2025 on Account of Increasing Preference For Space-Saving Furniture | Million Insights

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According to new report available with Million Insights, the global ready to assemble furniture industry research report offers thorough insights on size, share, material, application and demand. It also offers ready, data-driven answers to several industry-level questions.

The global Ready to Assemble (RTA) furniture market size is expected to reach USD 18.4 billion by 2025, according to Million Insights,  registering a 5.9% CAGR over the forecasted period, from 2019 to 2025. Increasing preference for portable, flexible and low-cost fixtures due to the increasing shift towards less space occupancy furniture has majorly driven the market growth. The increasing trend of high rise apartments has obstructed big furniture which is expected to drive the demand for RTA (Ready-to-assemble) furniture.

Increasing preference for space-saving furniture is encouraging the manufactures to develop RTA furniture. For example, Hem provides the furniture with sleek prices and customization options with attractive designs. In addition, the growing trend of shifting to another place for job purposes is expected to drive the demand for these products in home furnishing.

According to the survey, nearly 83.0% of consumers invested in RTA furniture. These products are popular for book cabinets and shelves due to having large storage capacity. Thus, manufacturers are striving to come up with new products. 

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Among materials, the wood category has dominated the market and accounted for the largest market share of over 54.0%, in 2018. Wood for RTA furniture is used with different materials like sheesham wood, solid wood, and engineered wood. For example, Decor Furniture and Mattress Showplace offer different RTA furniture for the living room, bedroom, and kitchen in the unfinished furniture segment. 

The home application accounted for the largest market share of over 66.0%, in 2018. This growth is attributed to the rising preference for RTA cabinets for mass storage at an affordable price. In addition, easy assembling and transportation of these products to consumer’s homes is another factor to drive the growth of this segment. 

Europe accounted for the largest RTA furniture market share of over 34.0%, in 2018. Increasing consumer shift towards corner kitchen, RTA furniture helps to utilize space properly which is expected to augment the regional growth. Germany is the largest consumer for these products due to rising importance to less space occupying furniture.   

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Further key findings from the report suggest:

• Among material, wood segment is expected to account revenue of USD 10.0 billion, by 2025.

• The home segment is expected to generate revenue of USD 12.3 billion by the end of 2025.

• Asia Pacific is projected to grow with the highest CAGR of more than 6.5% from 2019 to 2025.

• Major players include in the market are Ashley Home Stores, Ltd.; Home Reserve; Steinhoff International; Bush Industries, Inc.; Tvilum A/S, Fabritec (EUROSTYLE); IKEA Systems B.V, IKEA Systems B.V.; Simplicity Sofas, and Dorel Industries Inc;

Million Insights has segmented the global RTA furniture market on the basis of material, application, and region:

RTA Furniture Material Outlook (Revenue, USD Billion, 2015 – 2025)
    • Wood
    • Glass
    • Steel
    • Others

RTA Furniture Application Outlook (Revenue, USD Billion, 2015 – 2025)
    • Home
    • Office

RTA Furniture Regional Outlook (Revenue, USD Billion, 2015 – 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa

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