NEW YORK, June 29, 2021 /PRNewswire/ — Technavio has been monitoring the furniture market, operating under the consumer discretionary industry. The latest report on the furniture market, 2021-2025 estimates it to register an incremental growth of USD 134.70 bn, at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. 

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Ashley Furniture Industries Inc., Berco Designs, Godrej & Boyce Manufacturing Co. Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Okamura Corp., Steelcase Inc., and Williams-Sonoma Inc. are among some of the major market participants.

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Increasing residential and commercial construction has been instrumental in driving the growth of the market. Favorable government initiatives and urbanization in emerging economies are further expected to boost the furniture market growth in the upcoming years.  However, high exposure to global economic factors might hamper market growth.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. 

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Furniture Market 2021-2025: Segmentation Analysis

Based on geographic segmentation, over 48% of the market’s growth originated from APAC during the forecast period. The growth in the region can be attributed to increasing disposable income and the onset of urbanization in the advancing economies of the region. Furthermore, the home segment emerged as the largest revenue-generating product segment of the furniture market. This segment is expected to continue retaining its market position during the forecast period, mainly, due to the rapid growth of the real estate sector in both emerging and advanced economies. This market research report further offers an accurate prediction of the contribution of all the other segments to the growth of the furniture market size.

  • Product
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

Furniture Market 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The furniture market report covers the following areas:

  • Furniture Market Size
  • Furniture Market Trends
  • Furniture Market Industry Analysis

This study identifies the increasing number of strategic alliances and partnerships as one of the prime trends expected to drive the furniture market to witness considerable growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Furniture Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist furniture market growth during the next five years
  • Estimation of the furniture market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the furniture market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the furniture market, vendors

Related Reports on Consumer Discretionary Include:

Bedroom Furniture Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025

Wooden Furniture Market by Product, Application, and Geography – Forecast and Analysis 2021-2025

Ready to Assemble Furniture Market in Europe by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025

Outdoor Furniture Market in US by Product, End-user, and Distribution Channel – Forecast and Analysis 2021-2025

Office Furniture Market in US by Product, Material, End-user, and Distribution Channel – Forecast and Analysis 2021-2025

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Consumer discretionary industry
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Home – Market size and forecast 2020-2025
  • Office – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Ashley Furniture Industries Inc.
  • Berco Designs
  • Godrej & Boyce Manufacturing Co. Ltd.
  • Herman Miller Inc.
  • HNI Corp.
  • Inter IKEA Holding BV
  • Kimball International Inc.
  • Okamura Corp.
  • Steelcase Inc.
  • Williams-Sonoma Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Report:https://www.technavio.com/report/furniture-market-size-industry-analysis

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