Dublin, June 10, 2021 (GLOBE NEWSWIRE) -- The "Furniture Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the information they need to assess the global furniture market as it emerges from the COVID-19 shut down.
The global furniture market is expected to grow from $564. 17 billion in 2020 to $671. 07 billion in 2021 at a compound annual growth rate (CAGR) of 18. 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $850. 38 billion in 2025 at a CAGR of 6%.
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Where is the largest and fastest growing market for furniture? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Furniture market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider furniture market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The furniture market section of the report gives context. It compares the furniture market with other segments of the paper, plastics, rubber, wood and textile market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, furniture indicators comparison.
Major companies in the furniture market include IKEA AB; Ashley Furniture Industries Inc; Steelcase Inc; Tempur Sealy International Inc and Leggett & Platt Incorporated.
The furniture market consists of sales of furniture by entities (organizations, sole traders and partnerships) that produce furniture including tables, chairs, desks, cabinets or fixtures that are used in a room or building to support various human activities. The furniture market is segmented into institutional and office furniture; household furniture and kitchen cabinet and mattresses, blinds and shades.
Asia Pacific was the largest region in the global furniture market, accounting for 45% of the market in 2020. North America was the second largest region accounting for 21% of the global furniture market. Africa was the smallest region in the global furniture market.
Furniture manufacturers are investing in augmented reality technologies to help sales representatives present their products and customers in decision making. Augmented reality mobile applications allow customers to place a virtual 3D model of a furniture in a real room in real time. This also helps customers view the furniture in all angles and positions. For instance, IKEA's augmented reality application Place allows customers to preview over 2,000 pieces of furniture at home before purchasing them.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the furniture manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the furniture manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Increasing demand for online shopping is expected to help the furniture manufacturing market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the furniture manufacturing market. in countries such as India, for instance, e-commerce portals have boosted the sales of furniture manufacturers by giving larger exposure to producers who were confined to one geography.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Furniture Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Furniture Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Furniture Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Furniture Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Furniture Market Trends and Strategies
8. Impact of COVID-19 on Furniture
9. Furniture Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Furniture Market Regional Analysis
10.1. Global Furniture Market, 2020, by Region, Value ($ Billion)
10.2. Global Furniture Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Furniture Market, Growth and Market Share Comparison, by Region
11. Furniture Market Segmentation
12. Furniture Market Segments
12.1. Global Institutional and Office Furniture Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Institutional Furniture; Office Furniture
12.2. Global Household Furniture and Kitchen Cabinet Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Household Furniture; Kitchen Cabinet
12.3. Global Mattresses, Blinds and Shades Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Mattresses; Blind and Shade
13. Furniture Market Metrics
13.1. Furniture Market Size, Percentage of GDP, 2015-2025, Global
13.2. Per Capita Average Furniture Market Expenditure, 2015-2025, Global
14. Asia-Pacific Furniture Market
15. Western Europe Furniture Market
16. Eastern Europe Furniture Market
17. North America Furniture Market
18. South America Furniture Market
19. Middle East Furniture Market
20. Africa Furniture Market
21. Furniture Market Competitive Landscape
21.1. Competitive Market Overview
21.2. Market Shares
21.3. Company Profiles
21.3.1. IKEA AB
188.8.131.52. Company Overview
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
21.3.2. Ashley Furniture Industries Inc
18.104.22.168. Company Overview
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
21.3.3. Steelcase Inc
188.8.131.52. Company Overview
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
21.3.4. Tempur Sealy International Inc
18.104.22.168. Company Overview
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
21.3.5. Leggett & Platt Incorporated
188.8.131.52. Company Overview
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
22. Key Mergers and Acquisitions in the Furniture Market
23. Market Background: Paper, Plastics, Rubber, Wood and Textile Manufacturing Market
24.1. Global Furniture Market in 2025- Growth Countries
24.2. Global Furniture Market in 2025- Growth Segments
24.3. Global Furniture Market in 2025- Growth Strategies
25.1. NAICS Definitions of Industry Covered in This Report
25.4. Research Inquiries
25.5. About the Publisher
26. Copyright and Disclaimer
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