Global Furniture and Fixtures Industry to Reach US$436.5 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Furniture and Fixtures Industry. Changing consumer lifestyle, rising disposable incomes, extensive choice of premium products, increasing migration to urban areas, and western influences are creating an increasing demand for a wide array of furniture products. Manufacturers continue to experiment with new designs in order to sustain profitability.

Furniture and Fixtures: A Global Outlook

Follow us on LinkedIn – The furniture market operates in close call with the housing industry which was severely affected by the economic downturn. Despite the recovery, growth remains unstable as customer confidence continues to waver in view of the volatile economic environment in Europe, soaring gasoline costs and subdued employment rates. With no significant increase in personal incomes or in sale of homes, the furniture market is yet to pick up pace. Faced with declining margins and intensely competitive conditions, several manufacturers shifted their production operations to emerging nations as part of efforts to cut costs. Furniture sales are expected to recover with improvement in housing sales. Factors such as value and product mix, innovative marketing and capacity to maintain and deliver inventories of fabric and furniture frames continue to influence sales of furniture. Though replacement sales offer potential opportunities, reduced discretionary spending and prolonged replacement cycles continue to hamper growth prospects. While the growing levels of sophistication of modern lifestyles will continue to drive gains in this market, the present financial troubles are casting the spotlight on cost effective, mass-market products.

Long-term growth in the global furniture and fixtures market is expected from Asia, owing to steady economic growth and rising standards of living. Further, increasing migration towards urban areas, rising disposable incomes, and changing lifestyles are expected to offer favorable prospects for market participants. Flourishing property industry and tourist industry in developing economies is expected to foster the demand for hotel and residential furniture, along with other high-end products. Globalization and changing consumer behavior is contributing to the increased demand for luxury furniture in emerging markets such as China, Russia, India, and Brazil.

Furniture industry offers a wide array of innovative products for all age groups, with a special focus on teenagers and retirees. While furniture products for tweens and teens are designed keeping in mind the changing tastes and needs, furniture products for retirees’ features multifunctional, compact and comfortable furniture. The furniture industry is witnessing a shift towards multi-functionality furniture due to additional flexibility, functions and smaller size. The use of multi-functionality furniture not only frees up space but also provides solutions for storage problems, particularly for small or cluttered homes. The furniture industry is also influenced by the growing environment awareness and stringent legal requirements, which are compelling companies to develop eco-friendly products and choose eco-friendly raw materials. Manufacturers are increasingly opting to produce furniture from alternative material and recycled products such as wood from old buildings or reclaimed wood, thereby driving the demand for green furniture.

The research report titled “Furniture and Fixtures: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, France, Germany, UK, Russia, China, India, Korea, Brazil, Mexico, Saudi Arabia, and UAE, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Furniture_and_Fixtures_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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