Luxury Furniture Market 2024-2028
The luxury furniture market is forecasted to grow by USD 9543.3 mn during 2023-2028, accelerating at a CAGR of 5.16% during the forecast period. The report on the luxury furniture market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing number of new luxury furniture showroom launches, growing influence of different retailing channels, and rising popularity of multifunctional luxury furniture.
Technavio's luxury furniture market is segmented as below:
- By Application
- Residential
- Commercial
- By Distribution Channel
- Offline
- Online
- By Geographical Landscape
- Europe
- North America
- APAC
- South America
- Middle East and Africa
This study identifies the rapid emergence of eco-friendly and organic luxury furniture as one of the prime reasons driving the luxury furniture market growth during the next few years. Also, growth in demand for luxury furniture among millennials and technological innovations in global luxury furniture market will lead to sizable demand in the market.
The report on the luxury furniture market covers the following areas:
- Luxury furniture market sizing
- Luxury furniture market forecast
- Luxury furniture market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading luxury furniture market vendors that include ANGELO CAPPELLINI and C. Srl, Club House Italia S.p.A, Eichholtz B.V., Eric Kuster Metropolitan Luxury International Holding Ltd., Giorgio Armani S.p.A., Giorgio Collection, MillerKnoll Inc., LONGHI S.p.a., Minotti S.p.A., MUEBLES PICO SA, Natuzzi SpA, Opera Contemporary, Reflex S.p.a., ROCHE BOBOIS SA, Rugiano Srl, Silik s.r.l., Vaughan Bassett, and Williams Sonoma Inc.. Also, the luxury furniture market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.