The global furniture market is anticipated to grow at a considerable CAGR of around 4.6% during the forecast period (2021-2027). It is anticipated that the growing smartphone penetration will drive the market growth. It has resulted in cheaper internet costs, and the extensive availability of low-cost smartphones has resulted in an exponential increase in the number of online customers all over the world. Due to increased internet penetration around the world, a big number of consumers can access the online channel. Furthermore, some businesses offer the ”create your own interior sitting at home" service using interactive web room designer software.
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During the projection year, these factors are likely to drive furniture sales through the e-commerce market. For instance, in March 2020, Godrej Interio, a furniture business, developed an e-commerce portal to increase its footprint in the Indian furniture market to compete with Pepperfry, Ikea, and Urban Ladder. Godrej Interio also wants to deliver selected online-only models based on demand and sales to cater to a larger segment of consumers who prefer online shopping. According to the company, it intends to have AR integrated website by the end of fiscal year.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Material
o By End User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Ashley Furniture Industries, Inc., HNI Corp., Kimball International, Inc., KOKUYO Co., Ltd., Masco Corp., Durham Furniture Inc., Haworth, Inc., Inter IKEA Systems B.V., OKAMURA Corp., Stickley Furniture Inc., Steelcase Inc., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Furniture Market Report by Segment
By Material
By End Use
Global Furniture Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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