Notable worldwide growth of luxury retail industry is one of the major drivers for the global luxury furniture market
(PRWEB UK) 15 April 2015
Furniture refers to a movable object that is meant to support human activities like eating, seating and sleeping. Furniture makes working and living environment more comfortable. Apart from these activities, it is also used to improve the aesthetic value of house, hotels and offices. Individuals prefer luxury furniture to enhance the social status. Notable worldwide growth of luxury retail industry is one of the major drivers for the global luxury furniture market. Increase in number of high-net-worth individuals and increasing population in urban region in developing countries are propelling the market growth. In addition, globalization and increasing disposable income are also fueling market growth. It is anticipated that eco-friendly, luxury furniture would experience high growth during the forecasted period due to the increasing awareness among customers. Also, it is expected that high growth in online retailing would have a positive impact on the market. Lack of timber and skilled labor are the major challenges for the market. Changing life style of individuals would provide significant opportunities to the market.
The market is segmented on the basis of material, end-use and geography. On the basis of materials, the market is segmented into metal, plastic, wood, glass, leather and others. The end-use segment comprises of domestic and commercial use. The domestic segment is further sub segmented as kitchen, living and bedroom, bathroom, outdoor and others. The commercial segment is further classified into office, hospitality and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific and LAMEA.
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The key players in the market include Inter IKEA Group, HNI Corp., Sears Holdings Corp., KOKUYO Furniture Co. Ltd., Steelcase Inc., Herman Miller Inc., Ashley Furniture Industries Ltd., Kimball International, Masco Corp. and Haworth Inc. Operating players in the market are putting efforts to develop multifunctional furniture.
The study provides an in-depth analysis of the luxury furniture market with current and future trends to elucidate the imminent investment pockets in the market.
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market.
The report provides information regarding key drivers, restraints and opportunities with impact analysis
Quantitative analysis of the current market and estimations through 2015 – 2020, considering 2014 as the base year are provided to showcase the financial appetency of the market.
Porter’s five forces model and a SWOT analysis of the industry illustrates the potency of the buyers and suppliers participating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
The market is segmented on the basis of material, end-use and geography.
MARKET BY MATERIAL
MARKET BY END-USE
Living and bedroom
MARKET BY GEOGRAPHY
Inter IKEA Group
Sears Holdings Corp.
KOKUYO Furniture Co. Ltd.
Herman Miller Inc.
Ashley Furniture Industries Ltd.
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