Global Modular and Flat Pack Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Modular and Flat Pack Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Modular and flat pack furniture is a factory-manufactured product. This type of furniture is designed with standardized units that can be combined in a variety of ways to create a complete design in an office, or home. Modular and flat pack furniture is produced from flat components that can be assembled without special tools when purchased. They are packaged and delivered in individual flat-pack boxes and come with the nuts and bolts needed for assembly, as well as instructions for use.

Market Overview:

The latest research study on the global Modular and Flat Pack Furniture market finds that the global Modular and Flat Pack Furniture market reached a value of USD 14223.36 million in 2022. It’s expected that the market will achieve USD 21238.55 million by 2028, exhibiting a CAGR of 6.91% during the forecast period.

The growth of the Asia Pacific market

Asia Pacific is the fastest growing region in the global modular and flat packaging furniture market. China, Japan, Australia, India and South Korea are the largest contributors to the region. Including many major players are forming partnerships with e-commerce retail outlets to strengthen their distribution networks, which is likely to drive market growth in the region. Increasing middle class population, increasing household expenditure, changing lifestyles, growth in the real estate sector, increasing urbanization rate, increasing preference for branded furniture are some of the major factors that will increase market demand in the region during the forecast period. For example, China is the largest and fastest growing country in the Asia-Pacific market. In recent years, China's national economy has achieved rapid development, and the level of national income and consumption has been continuously improved. According to the statistics of the National Bureau of Statistics of China, the per capita disposable income and per capita consumption expenditure of Chinese residents will reach 32,189.00 yuan and 21,210.00 yuan respectively in 2020. From 2013 to 2020, the compound growth rate reached 8.39% and 6.99%, respectively, which is in a steady growth trend. According to the statistics of the National Bureau of Statistics of China, in 2019, the operating income of enterprises above designated size in China's furniture manufacturing industry reached 711.720 billion yuan, an increase of 0.50% year-on-year, but in 2020, affected by the novel coronavirus epidemic, the operating income of enterprises above designated size in the furniture manufacturing industry was 687.54 billion yuan, down 3.40% year-on-year. With the gradual improvement of the global epidemic, the industry has resumed steady development. Therefore, the rapid growth of the Asia-Pacific market is driving the development of this industry.

Streaming media marketing

Streaming media refers to a technology and process that compresses a series of media data, sends the data in segments on the Internet, and instantly transmits video and audio on the Internet for viewing. This technology enables data packets to be sent like flowing water; streaming transmission can be transmitted Live video or video pre-stored on the server. Streaming apps such as Facebook, Instagram, and Tik Tok have global users, and all walks of life have begun to use these apps to start marketing. Companies can create and upload short videos or conduct marketing through live broadcasts to make fans excited about live events, or promote the development of new business through live broadcast. This will give followers who may not be able to attend the event in person the opportunity to still be involved and keep them connected to the business; Influencer Marketing is fast becoming one of the primary ways companies market to consumers and build their brand. Influencer Marketing an invaluable resource for creating content for advertising and promotions, having a popular influencer take over a company livestream is a great way to promote new products and attract a new fan base. The explosive popularity of influencer marketing has given companies a new way to meet the growing need to deliver a superior customer experience to their audiences. Therefore, companies create campaigns and exhibition shows to promote their brands and products, reaching out to their target audience through streaming media. For instance, IKEA uses separate pages for different countries on Facebook to cater to the varying requirements of the customers. They also make their catalogs available digitally for desktop and mobile users. Similarly, Ashley Furniture HomeStore partnered with iCrossing, to get in touch with the customers through social media. Apart from Facebook, the company also has a strong presence on YouTube, Twitter, and Flickr. Since the main consumer group of this industry is young people, and the proportion of young users on streaming media is large, the entry of streaming media marketing for participants in this industry will drive the market growth of this industry.

Cheaper, more convenient

Modular and Flat Pack Furniture is also known as ready-to-use furniture. They are commonly sold in one or more flat boxes, no bulky large parts, no need to remove the door, and can be delivered to the door, very easy to transport, easy to move, every part of the furniture can be disassembled and reassembled, This flexibility makes space relocation and redesign easier to manage and very convenient for people who move frequently and rent. and modular and flat pack Furniture is cheaper than use furniture, because this kind of furniture usually uses particleboard, particleboard is also called particle board, all kinds of branches, small wood, fast-growing wood, wood chips, etc. cut into a certain specification of debris, after drying, mixed with rubber, hardener, waterproof agent, etc. A wood-based panel made under a certain temperature pressure, this panel is much cheaper than solid wood, followed by most of this furniture with computer-aided manufacturing (CAM), although this setting cost is more expensive, but large-scale manufacturing greatly reduces manufacturing costs. Convenient transportation, inexpensive, personalized assembly these characteristics are very attractive to young people to buy, young people are also the main consumer groups in the industry. The characteristics of modular and flat pack furniture are the driving factors for the development of this industry.

Region Overview:

In 2022, the share of the Modular and Flat Pack Furniture market in Europe stood at 37.77%.

Company Overview:

IKEA is one of the major players operating in the Modular and Flat Pack Furniture market, holding a share of 10.07% in 2023.

Ikea is a world-renowned furniture and home furnishing retailer from Sweden. Its harmonious product series has a wide variety of functions and styles. Ikea adopts a global procurement model, in which its products are purchased from the Trading Area and transported to the global distribution center and then delivered to IKEA stores around the world.

Friul Intagli Industries S.P.A. is an Italian multinational company founded in 1968 by Inaco Maccan, current owner and It is a part of the Maccan Group. Friul Intagli Industries, is the largest furniture component manufacturer in the World, with over 50 years experience industry supplying the biggest names in Europe as well as the US, such as IKEA, their main client. Their markets include kitchens, bathrooms, bedrooms, home office, children's furniture and entertainment furniture for residential and commercial buildings as well as cruises and ships. It is headquartered in Pordenone with other work sites in the biggest capitals of Europe, America and Russia.

Segmentation Overview:

By type, Home Furniture segment accounted for the largest share of market in 2022.

Workplace furniture is any product or service designed to meet the furnishing needs of the workplace, including office, healthcare, education, and hospitality environments. For example, desks, chairs, filing cabinets, desks, lounge seating, and computer desks. Generally, office furniture has a higher utilization rate and a higher furniture density.

Home furnishings are items that are placed in a room to make it comfortable and inviting. They include all movable items such as tables, chairs, beds, desks, dressers, and cabinets, decorative items that complement the design of the room. Home Furniture is an important part of interior design, it can give a room a unique personality.

Application Overview:

The market's largest segment by application is the segment Specialist Retailers, with a market share of 47.09% in 2022.

A specialty retail store is a retail store that focuses on a specific product category, as opposed to a retailer that sells a large number of consumer product categories. Since specialty retailers have a narrower focus, they can offer customers good options in terms of model, size, color, or any attribute related to the type of item in the chosen category. If a customer visits a specialty store, they have already expressed interest in that product category. Customers are more likely to trust a recommendation from an associate at a specialty store than an associate at a store with a wider product line.

Online selling is the use of digital methods by e-commerce businesses to sell products and services to customers. E-commerce businesses can be online or brick-and-mortar. Selling products to customers online usually requires a website or digital storefront, and a way to digitally process payments and deliveries to customers.
A flagship store is the lead store in a retail chain. It may be the brand's first store, it may be the largest store in the chain, or it may be located in a prominent or prestigious shopping location that attracts a large number of customers. It may have the widest product range and/or exclusive merchandise, unique designs, or decor, or it may simply be the most famous store in the chain.
Home centers primarily target the do-it-yourself homeowners' market and combine traditional hardware stores and lumber yards with do-it-yourself home improvement centers. A typical home center has a wide variety of building materials, hardware, paint, power tools, garden and yard equipment, plumbing and heating, electrical supplies, and other home maintenance items. Home centers have expanded their product range to include furniture and home appliances.
Hiring a designer is also a way to get furniture. In addition to helping users create a comfortable environment, another benefit is that they can purchase furniture at wholesale prices. While trade-only wholesalers are not accessible to the general public, interior designers are. As a result, they have access to a wider selection of sizes, colors, and styles, as well as trade discounts.

Key Companies in the global Modular and Flat Pack Furniture market covered in Chapter 3:

Vivonio Group
Whalen Furniture
Simplicity Sofas
Forte
Homestar
South Shore
Sauder Woodworking
Bestar (Bush Industries)
Others
Friul Intagli
IKEA
Dorel Industries
Prepac
Flexsteel (Home Styles)

In Chapter 4 and Chapter 14.2, on the basis of types, the Modular and Flat Pack Furniture market from 2018 to 2029 is primarily split into:

Workplace Furniture
Home Furniture

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Modular and Flat Pack Furniture market from 2018 to 2029 covers:

Specialist Retailers
Online Sales
Flagship Store
Home Centers
Designers
Others

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)