Global Home Furnishings Market to Reach US$700 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 Home Furnishings Industry. The global home furnishings market is forecast to reach US$700 billion by 2015. Increasing interest of consumers towards the domestic and decorative products forms the main reason towards the growth in demand for home furnishings. Other factors driving growth include the increasing demand for organic home furnishing products, the growingly vital role of the electronic media, increasing product lines and store design format by retail sector, and the venturing of global players into the developing regional markets.

Home Furnishings: A Global Outlook

Follow us on LinkedIn – The home furnishings market is a large and diverse sector. The home furnishings retail sector is quite dynamic and is charging up the overall home furnishing market. Consumers now have more choices and sales are increasing for the home furnishing products. Among home furnishing products, alternative materials and natural products witnessed the most demand in recent years. Organic home furnishings are experiencing a high demand due to their eco-friendliness, in addition to the style, comfort, and quality that they provide.

Europe leads the home furnishings industry in terms of revenues, followed by North America and the Asia-Pacific region. However, in the period up until 2015, the Asia-Pacific region is predicted to achieve maximum growth in this sector. In the region, India is the largest exporter of home furnishing goods to the US. Mom and pop shops are the key players in the highly fragmented home furnishing market. By and large, the market for premium priced products is growing faster than the other items with better homes.

The home improvement industry is likely to improve, owing to factors such as baby boomers upgrading to bigger homes, increase in the purchase of second homes or going for remodeling or repairing, and higher disposable incomes, specifically in the developing markets. Home improvement products market, over the recent past, has benefitted from the low mortgage rates prevalent in most of the countries, translating into strong demand, regardless of the prevailing weak economic conditions. Women have a major influence on the home improvement industry as homemakers. As a result, retailers are increasingly targeting female customers as they represent the major demographic segment for the home improvement products industry. Women are most likely to be associated with home improvement projects and a majority of them tend to make changes in their homes once every five years.

Electronic media plays a vital role in driving the home improvement products market. Television shows on home remodeling and repairs are succeeding in transforming viewers into customers of the industry. To sustain in the saturated home improvement market, retailers are entering into additional home-related services areas such as landscape design, home-decorating consultation, and lawn maintenance.

The research report titled “Home Furnishings: 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 a rudimentary overview of the home furnishing industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include US, Canada, Japan, France, Germany, Italy, UK, Australia, China, India, Argentina, Brazil, and others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. 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/Home_Furnishings_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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