Global Contract Furniture and Furnishing Market Report and Forecast 2023-2028

Global Contract Furniture and Furnishing Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global contract furniture and furnishing market is projected to grow at a CAGR of 5.1% between 2023 and 2028. Aided by the increasing demand for modern furniture from schools and colleges, the market is expected to grow significantly by 2028.

Contract furniture, distinctively designed and manufactured for commercial use, encompasses an array of furniture products tailored for businesses, institutions, and other public places. This includes, but isn't limited to, office spaces, hotels, restaurants, hospitals, and educational institutions. The defining feature of contract furniture is its blend of aesthetics with durability, encompassing regulatory and safety considerations specific to the intended commercial use.

A burgeoning trend influencing the global contract furniture market growth is the evolving workspace dynamics. With the corporate sector increasingly adopting open office layouts and flexible working spaces, there's a growing emphasis on ergonomic and modular furniture. These designs not only foster collaboration but also cater to the well-being of the employees, addressing issues related to posture and comfort during prolonged working hours.

The hospitality industry, another significant end-user segment of contract furniture, is witnessing a shift towards offering personalised experiences to guests. Hotels and restaurants are investing in bespoke furniture solutions, aiming to merge comfort with a touch of uniqueness and luxury. These efforts, aimed at enhancing guest experience, are pivotal in driving the demand for specialised contract furniture in the sector.

Further boosting the contract furniture market demand is the burgeoning education sector. Institutions are transitioning away from traditional classroom settings, opting for flexible layouts to foster collaborative learning. This necessitates durable and functional furniture, capable of withstanding rigorous daily use while meeting the ergonomic needs of students.

In the healthcare sector, the demand for contract furniture is underscored by the need for specialised furnishing that adheres to health and safety regulations. Hospitals and clinics seek furniture that is not only comfortable for patients but also easy to clean and maintain, ensuring hygiene standards are uncompromised.

Sustainability trends have also begun to intersect with the contract furniture market. As businesses and institutions become more environmentally conscious, there's a rising demand for eco-friendly furnishing solutions. Manufacturers are increasingly leveraging recycled materials and sustainable production methods to cater to this demand, thus adding a new dimension to the contract furniture market outlook.

Market Segmentation

The market can be divided based on type, end use, and region.

Market Breakup by Type

• Desks and Tables
• Chairs and Stools
• Storage Cabinets
• Sofas
• Cafeteria Tables and Chairs
• Others

Market Breakup by End Use

• Hospitality and Food Services
• Offices and Home Offices
• Retail stores
• Institutions
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global contract furniture and furnishing market. Some of the major players explored in the report by Expert Market Research are as follows:

• Haworth Inc.
• Herman Miller Inc.
• Kinnarps Ab
• Steelcase Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.