Global Kitchen & Dining Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Kitchen & Dining Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Kitchen & Dining furniture is used in kitchen and dining room with functions such as sitting, leaning, and eating, which is usually assembled by several parts according to a certain joining method. Meanwhile, in terms of the type, kitchen & dining furniture can be segmented into barstools, tables, chairs, benches, dining sets and so on. Moreover, people buy kitchen &. dining furniture for residential or commercial purposes. And the downstream channels are through traditional marketing channel (offline), E-commerce (online), etc. sell kitchen & dining furniture.

Market Overview:

The latest research study on the global Kitchen & Dining Furniture market finds that the global Kitchen & Dining Furniture market reached a value of USD 28574.48 million in 2022. It’s expected that the market will achieve USD 43365.77 million by 2028, exhibiting a CAGR of 7.2% during the forecast period.

Drivers

The Kitchen & Dining Furniture market is driven by various factors such as rising disposable incomes, growth of real estate and hospitality industries, and demand for luxury and premium furniture from certain consumer sections. Additionally, increasing government investments in infrastructural development is contributing towards demand for the residential and commercial sector can propel product demand in the near future. Furthermore, steady expansion and development in the real estate sector coupled with boom in technological advancements will act as a push-pull factor for the manufacturing sector growth. Moreover, a significant development in the real estate and commercial construction due to positive economic outlook accompanied by gradual shifting of preference toward high-end imported furniture will stimulate the kitchen & dining furniture market demand.

In addition, the surging urbanization and remodeling in residential kitchens are the key market drivers. The Kitchen & dining furniture market is driven by surging urbanization and remodeling in residential kitchens. Kitchen & dining furniture is gaining momentum in investments with a consistent growth in the hotel industry which in turn thrives on rise in travel and tourism. Moreover, the developed regions with a high percentage of population living in the urban areas have been the primary consumers for kitchen & dining furniture and this will present the market with huge growth opportunity and potential in near future. Kitchen & dining furniture offer various types of furniture is being used in Kitchen and dining rooms. As increasing concerns towards interior designing and availability or furniture in different materials become the major driver for Kitchen & Dining Furniture market

Restraints

The Kitchen & dining furniture market is characterized by price competition. This in turn can result in reduced demand for Kitchen & Dining Furniture, which in turn can intensify price competition in Kitchen & Dining Furniture industry. This price competition could impact manufactures' ability to implement price increases or, in some cases, such as during an industry downturn, maintain prices. In addition, when market conditions warrant, suppliers may need to reduce prices to build or maintain their market share. If suppliers are unable to increase or maintain prices for products, their profit margins could decline. Such decline will be compounded to the extent suppliers are unable to maintain or reduce the cost of products, which may be especially difficult in the current environment given the volatility of the commodities markets.

Apart from this, environmental concerns and competition are among the key restraints faced by participants in the global Kitchen & dining furniture market. Environmental concerns are related to the usage of more eco-friendly materials for manufacturing of furniture in place of wood. As global players enter newer markets, it poses a threat to the local participants. This is anticipated to lead to consolidation in the global Kitchen & dining furniture market in the form of collaborations and mergers.

Region Overview:

United States had the highest growth rate of all regions.

Company Overview:

The top three companies are IKEA, Ashley, Nitori with the revenue market share of 11.36%, 4.77%, 1.30% in 2020.

IKEA is a multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other useful goods and occasionally home services. Founded in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008. The group is known for its modernist designs for various types of appliances and furniture, and its interior design work is often associated with an eco-friendly simplicity. In addition, the firm is known for its attention to cost control, operational details, and continuous product development. Ikea Group Corp produces and distributes household appliances and home furniture products. The Company offers ovens, dishwashers, fridge, dining tables, twin beds, ceiling lights, faucets, sauce pans, pillows, bags, storage boxes, and mirrors. Ikea Group markets its products worldwide.

Ashley Furniture Industries, Inc. is an American home furnishings manufacturer and retailer, headquartered in Arcadia, Wisconsin. The company is owned by father and son team Ron and Todd Wanek. Ashley Furniture provides home furniture products throughout the world. Ashley Furniture Industries, Inc. provides home furnishing products. The Company designs and produces chairs, entertainment centers, recliners, sectionals, sofas, beds, dressers, mattresses, lamps, rugs, buffets, tables, and desks. Ashley Furniture Industries serves customers worldwide.

Segmentation Overview:

By type, Chairs segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Residential segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Kitchen & Dining Furniture market covered in Chapter 3:

Roche Bobois
Lexington
Copeland
Christopher Guy
Zbom
Ashley
Stanley
Black Red White
Kindel
Baker
IKEA
KUKAHOME
Standard Furniture
Nitori
Hanssem

In Chapter 4 and Chapter 14.2, on the basis of types, the Kitchen & Dining Furniture market from 2018 to 2029 is primarily split into:

Barstools
Tables
Chairs
Benches
Dining Sets
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Kitchen & Dining Furniture market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)