USD 7 Bn growth in Luxury Furniture Market from 2020 to 2025 | Proliferation of Luxury Furniture Showrooms Boosting Growth | Technavio

NEW YORK, Oct. 28, 2021 /PRNewswire/ — The luxury furniture market size is set to increase by USD 7.00 billion, progressing at…

NEW YORK, Oct. 28, 2021 /PRNewswire/ — The luxury furniture market size is set to increase by USD 7.00 billion, progressing at a CAGR of almost  5% from 2020 to 2025. The report provides 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. Club House Italia S.p.A, Giorgio Armani Spa, Herman Miller Inc., Minotti S.p.A., MUEBLES PICO SA, Natuzzi SpA, Opera Contemporary, Reflex S.p.a., Rugiano srl, and Vaughan Bassett are some of the major market participants. The increasing number of new luxury furniture showroom launches will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Luxury Furniture Market 2021-2025: Segmentation

  • Distribution Channel
    • Offline
    • Online
  • Application
    • Residential
    • Commercial
  • Geography
    • Europe
    • North America
    • APAC
    • MEA
    • South America

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Luxury Furniture Market 2021-2025: Vendor Analysis and Scope

To help businesses improve their market position, the luxury furniture market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Club House Italia S.p.A, Giorgio Armani Spa, Herman Miller Inc., Minotti S.p.A., MUEBLES PICO SA, Natuzzi SpA, Opera Contemporary, Reflex S.p.a., Rugiano srl, and Vaughan Bassett.

The report also covers the following areas:

The rising popularity of multifunctional luxury furniture is likely to emerge as one of the primary drivers of the market. However, factors such as frequent product recalls may threaten the growth of the market.

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Luxury Furniture Market 2021-2025: Key Highlights

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

Related Reports:

Global Home Furnishings Market
 – Global home furnishings market is segmented by product (home furniture and home textiles) and geography (Europe, North America, APAC, MEA, and South America).

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Global Organic Furniture Market – Global organic furniture market is segmented by distribution channel (offline and online) and geography (APAC, Europe, North America, South America, and MEA).

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Luxury Furniture Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 5%

Market growth 2021-2025

USD 7.00 billion

Market structure

Fragmented

YoY growth (%)

3.58

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 35%

Key consumer countries

US, Germany, UK, Italy, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Club House Italia S.p.A, Giorgio Armani Spa, Herman Miller Inc., Minotti S.p.A., MUEBLES PICO SA, Natuzzi SpA, Opera Contemporary, Reflex S.p.a., Rugiano srl, and Vaughan Bassett

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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