LIVING AND DINING ROOM FURNITURE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

LIVING AND DINING ROOM FURNITURE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Furniture in the house makes the living environment more comfortable. Tables, chairs, and sofa set are the major furniture being used in the living room. Dining room furniture is an item of important home furniture. The use of a dining room is no longer limited to eating and dining. In modern times, a dining room is also used as the homework station for kids and a playroom for family. In general, dining table is an inevitable element in the basic furnishing of the dining room.

The market is expected to grow at a CAGR of 4% in the period of 2019-2024.

Key Highlights

• The rising purchasing power of households along with the change in lifestyle, as well as the increasing trend of purchasing the living and dining room furniture through an online channel, are expected to drive the growth of the market.
• Globalization has helped in paving the way for easier facilitation and has increased the availability of living and dining room furniture products, by offering a wide range of designs for customers.
• The increasing demand for premium furniture is also one of the key drivers of the market.

Key Market TrendsWooden Furniture for Living and Dining Room Segment

The Wooden Furniture market segment focuses on furniture that is made primarily of wood and used in living and dining rooms. It includes bar, coffee and other occasional side tables, dining and buffet tables, TV and media stands, bookshelves, wine and other cabinets, chests, and other living and dining room storage furniture.

The United States accounted for the major market share in revenue in 2018.

Asia-Pacific is Anticipated to Witness the Highest Growth

Factors, such as escalating real estate growth, increasing residential construction, and growing personal disposable income in developing countries, are anticipated to boost the living room furniture market in Asia-Pacific over the forecast period. Moreover, shortage of skilled labor especially in China and India, lack of better transport facilities, and insufficient infrastructural facilities are likely to hamper the market growth.

Growth in housing units, increasing middle-class level population, rise in household expenditure, change in lifestyle, and the increased preference for branded furniture, are some of the major factor sthat will increase the demand for the market in the region during the forecast period.

Competitive Landscape

The report covers major international players operating in the living and dining room furniture market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Ashley Furniture
IKEA
Williams
Sonoma
Knoll Inc.
Masco Corp
Sears Holdings Corp
KOKUYO Furniture Co. Ltd
Herman Miller Inc.
Bernhardt Furniture Company
Other Companies (Vogue Furniture 4U, INTERIO International Limited, Godrej Interio, Durian Furniture, Nitori Co., Ltd, and Stanley Furniture)

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.