Global Luxury Furniture Market – Overview
Luxury furniture is the elite class and cultured furniture items which exhibit the best elite quality, and design associated with a certain era. Often crafted out of metal, glass, wood, they add to the aesthetic value of the property such as homes, hotels, offices and other indoor or outdoor areas.
The Global Luxury Furniture Market has a very promising future during the forecast period 2016 – 2021, indicates the recent equally promising study report “Global Luxury Furniture Market” published by Market Research Future
With change in lifestyle and growth in the economy, people are constantly upgrading and enhancing their living and work environment, hence the adoption of products such as luxury furniture is increasing. Luxury furniture market is experiencing swift modifications, wherein vendors are introducing various impressive new designs and collaborating with interior designers to increase their visibility to capture the largest market size, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures and widely spread over 115 pages.
Luxury Furniture Market – Key Players
- Duresta Upholstery Ltd.
- Valderamobili S.R.L.
- Giovanni Visentin S.R.L.
- Scavolini SpA
- Laura Ashley Holding Plc
- Iola Furniture Ltd.
- Henredon Furniture Industries Inc.
- Turri S.R.L.
- Muebles Pico
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Global Luxury Furniture Market – Segments
The Global Luxury Furniture Market is segmented in to 4 dynamics for the convenience of the report and enhanced understanding;
Segmentation on the basis of Raw Material Used: Wood, Metal, Plastic and others.
Segmentation on the basis of Retail formats: furniture retailers, departmental stores, online retailing, and others.
Segmentation on the basis of End Use: Residential and Commercial
Segmentation on the basis of Region: North America, Europe, Asia-Pacific & RoW.
Global Luxury Furniture Market – Synopsis & Scenario
Luxury Furniture global market is driven by the growth of real-estate sector. The increased number of residential and commercial projects has led to the widening demand for luxury furniture. With the increased awareness about aesthetic values and innovative designs in furnishings the luxury furniture market has grown over the years. This is further backed by greater urbanization and change in lifestyles of people. The global Luxury Furniture market is expected to value millions of USD at the end of the forecasted period and is expected to grow at a significant rate of CAGR from 2016 to 2021.
The rise in the disposable income, globalization and the major population shift to the urban areas worldwide is contributing to the growth of luxury furniture market globally. Focused on reducing their carbon footprints, Furniture companies are now offering environment friendly alternatives. With progressive technologies, furniture designers get more innovative and daring with their designs. Even customers are keen about the negative impact of furniture on health hence while buying the luxury furniture, Low toxicity is also a priority items on customers list.
Lack of skilled workers across the luxury world furniture market industry and increased cost raw materials cost remains a major challenge for the industry. The Luxury furniture sector is a well-established often family run business. Since customers prefer buying furniture online, this is proving to be turning the table kind of scenario. Thus, in this highly unorganized sector online retailing has made selecting and buying furniture with more discounts and wider options.
Luxury Furniture Market – Regional Analysis
APAC dominates the global luxury furniture market with its fast-growing market worldwide. It will expand at a significant rate of A CAGR over the forecast period. The growth of real-estate sector is attributing to the share of APAC. The factors such as increasing real-estate projects, increased foreign investment in construction and innovations in the industry are driving the market for Luxury Furniture.
APAC is followed by North America which is expected to grow rapidly valuing multi millions of USD by 2021. Europe and Rest of the World are also expected to grow at considerable rate of CAGR during 2016 to 2021.
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