Market Overview: Luxury Furniture Market FY24-30
This reports provides an essential and dependable overview of the Luxury Furniture Market, serving as a guide for stakeholders navigating the industry's future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.
Luxury Furniture Market Report Coverage Details:
- Base Year: 2023
- Historical Data: 2019-22
- Forecast Period: 2024-2030
- CAGR: 67% (2024-2030)
The Global Luxury Furniture Market size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-30.
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Luxury Furniture Market Trend:
Integration of Advanced Technology & Smart Features into High-End Furniture Products – In recent years, the luxury furniture industry has experienced a significant upswing, due to the integration of smart technology into their products, allowing consumers to control various aspects of their living spaces through furniture. This includes features like built-in charging stations, LED lighting, and furniture with integrated smart home capabilities, such as speakers, wireless charging, and automation. Thus, the integration of furniture with smart homes enhances the convenience and usability of luxury furniture, catering to tech-savvy consumers across the globe. The biggest players in the luxury furniture market such as Duresta, Herman Miller, Inc., etc. are dynamically innovating in terms of production, design, and materials to create unique furniture pieces that resonate with smart homes globally. As, luxury furniture, known for its elevated comfort level, is gaining popularity among consumers across the globe, which is further anticipated to elevate the luxury furniture market growth in the forthcoming years.
Luxury Furniture Market Segmentation Analysis - FY24-30
Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Luxury Furniture Market (2024-30). We prioritize uncovering the pivotal factors that presently drive and will shape the industry's growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.
The Luxury Furniture Market segmentation is enlisted below:
By Type
- Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Bedroom Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Dining Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Office Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Kitchen Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Living Room Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Patio Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Rooftop Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Beachfront Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Others (Poolside, Deck Furniture, etc.)- Market Size & Forecast 2019-2030, (USD Million)
By Type of Furniture
- Bed- Market Size & Forecast 2019-2030, (USD Million)
- Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
- Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
- Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
- Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
- Cabinets & Nightstand- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
By Material
- Wood- Market Size & Forecast 2019-2030, (USD Million)
- Plastic- Market Size & Forecast 2019-2030, (USD Million)
- Leather- Market Size & Forecast 2019-2030, (USD Million)
- Others (Glass, Metal, etc.)- Market Size & Forecast 2019-2030, (USD Million)
By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030, (USD Million)
- Indirect Sales- Market Size & Forecast 2019-2030, (USD Million)
- Online Platform- Market Size & Forecast 2019-2030, (USD Million)
By End User
- Residential- Market Size & Forecast 2019-2030, (USD Million)
- Offices- Market Size & Forecast 2019-2030, (USD Million)
- Commercial & Retail- Market Size & Forecast 2019-2030, (USD Million)
- Hospitality- Market Size & Forecast 2019-2030, (USD Million)
- Others (Government Agencies, etc.)- Market Size & Forecast 2019-2030, (USD Million)
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Luxury Furniture Market Competitive Landscape
Cassina S.p.A., Kimball International Inc., Marge Carson, Fendi Casa, Brown Jordan Inc., B&B Italia, Marioni , Boca Do Lobo, Duresta, Bentley Home, Natuzzi, Haworth, Inc., West Elm, Pico Muebles, Maiden Home, Other.
Luxury Furniture Industry News:
- 2024: B&B Italia introduced new outdoor luxury furniture products, designed by renowned designers, namely Mario Bellini & Monica Armani.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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