Market Definition: The Antimicrobial Furniture Market was valued at USD 3. 50 billion in 2021 and is predicted to reach USD 6. 78 billion by 2030 with a CAGR of 7. 6% from 2022-2030.
New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antimicrobial Furniture Market by Surface Material and by Sales Channel, by Buyer Type, by End Use Verticals - Global Opportunity Analysis and Industry Forecast 2022-2030" - https://www.reportlinker.com/p06272293/?utm_source=GNW
Antimicrobial furniture is referred to as a furniture that is coated with antimicrobial finish or coating of materials such as silver, copper, and titanium which helps to prevent the growth of microbes, viruses, and bacteria. These furniture’s are eco-friendly and helps in curbing the spread of diseases, thereby protects the health of people. Antimicrobials can act both as an anti-parasitic and an antibacterial, thus is gaining popularity in coating furniture products.
Market Dynamics and Trends
Healthcare associated infections (HAIs) is one of the major concerns of hospitals and is likely to result in readmission and lengthening of hospital stays. Healthcare associated infections (HAIs) affects over 1.7 million people yearly in the US alone. Growing need to prevent HAIs is expected to boost the demand for antimicrobial furniture in hospitals, as these furniture helps in reducing the built-up of microbial growth on the surfaces. This, in turn, boosts the market growth. Also, antimicrobial coating has gained popularity in developing medical furniture products such as beds, door knobs, seating, examination tables, controls, and railings, among others. Furthermore, increasing concern for health & safety are promoting the mall owners to enhance their safety and cleanliness measures, to increase the number of shoppers, thereby augmenting the demand for antimicrobial furniture.
Moreover, antimicrobial furniture enables to reduce the rate of infection, thereby ensures the safety of the employees. Thus, it helps to maintain hygiene in an office environment and can prevent the growth of harmful microorganisms. In addition to this, technological developments in antimicrobial coatings to boost its efficacy and antimicrobial characteristics is likely to create immense growth opportunities to the market players. For instance, in April 2021, Action Tesa launched TESA Antiviro, nanotech-based antimicrobial coating for pre-laminated boards.
However, the antimicrobial coatings used in the furniture can pose a major risk to human and aquatic life. The main ingredients which are released from these coatings comprising of silver, copper, and zinc can have toxic effects on fish, crustaceans, and algae, among others. Such harmful metals consumed by aquatic animals are then consumed by humans, thus affecting the human health indirectly.
Market Segmentations and Scope of the Study
The antimicrobial furniture market is segmented on the basis of surface material, sales channel, buyer type, end use verticals, and geography. Based on surface material, the market has been divided into copper, silver, titanium and others. On the basis of buyer type, the market has been bifurcated into individual and institutional. By end use verticals, the market has been segmented into medical & healthcare, educational institutes, corporate institutes, malls & shopping stores, household and others. Based on sales channel, the market has been categorized into e-commerce, supermarket/hypermarket, specialty stores and others. Geographically, the market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World.
North America holds the lion share of antimicrobial furniture market during the review period. This is attributed to presence of major furniture companies such as IKEA, increasing healthcare expenditure to be used on improving medical infrastructure, increasing number of shopping malls, high disposable income, and growing number of academic institutes, and schools. Moreover, strong presence of key industry participants including Invacare among others proves helpful for the industry as different participants are focusing on excellent quality medical furniture products for efficient patient care, thus augmenting the regional market growth. Also, surging furniture spending is another key factor boosting the regional market growth. For instance, In February 2021, the Americans spent around USD 11.3 billion at furniture and home furnishing stores, which was higher from 12% from 2020.
The European market held the second-largest market share in 2021. The European furniture industry has a strong brand image locally as well as globally owing to its highly qualified skilled workers, creativity, and adaptability to changing consumer demands. Germany, the UK, France, and Italy are some of the key contributors in the regional market growth.
The antimicrobial furniture market comprising of various market players such as Ashley Furniture Industries, Godrej & Boyce Mfg. Co., Ltd., Herman Miller, Inc., HNI Corporation, The Home Depot, Inc., Inter IKEA Group, Kohler CO., La-Z-Boy Inc., Okamura Corporation, and Steelcase. These market players are adopting various strategies such as partnership and product launches across various regions to maintain their dominance in the antimicrobial furniture market. For instance, in April 2021, Herman Miller, Inc. launched the post-pandemic (COVID-19) office collection “OE1 Workspace Collection”. This antimicrobial collection activates mobility and adaptability to create future-ready offices.
Moreover, in March 2021, HNI Corporation partnered with the Marxent for “3D Home Office Planner Apps” and “3D Product Configurator”. This was created for those clients, who are working & shopping from home.
KEY MARKET SEGMENTS
• Antimicrobial Furniture Market- By Surface Material
• Antimicrobial Furniture Market- By Sales Channel
o Specialty Stores
• Antimicrobial Furniture Market- By Buyer Type
• Antimicrobial Furniture Market- By Sales Channel
o Medical &Healthcare
o Educational Institutes
o Corporate Institutes
o Malls & Shopping Stores
• Antimicrobial Furniture Market- By Geography
o North America
? Rest of Europe
? South Korea
? Rest of Asia Pacific
? South Africa
? Rest of World
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