New York, June 27, 2022 (GLOBE NEWSWIRE) — According to the report published by Next Move Strategy Consulting, the global upholstered furniture market was valued at USD 48.50 billion in 2021, and is expected to reach USD 78.06 billion by 2030, witnessing a CAGR of 5.4% from 2022 to 2030. The report provides an extensive analysis of changing market trends, top segments, key market players, market size and forecast, and competitive landscape.
The report aims to cover every crucial aspect in detail through extensive information represented in textual format, tabular format with 303 tables, and graphical format with 286 figures. The valuable information and insights are wrapped up in 362 pages to help investors, new entrants, stakeholders, and C-level executives in making well-informed decisions about the present and the future.
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|Market Size in 2021||$48.50 billion|
|Market Size in 2030||$78.06 billion|
|No. of Pages||362|
|segments covered||Type, Price Range, Distribution Channel, End Use, and Geography.|
|drivers||Increase in import and export activities of luxury & comfortable wooden furniture|
|The requirement of lower capital investment for establishing upholstered furniture factories|
|The emergence of e-commerce or online shopping channels|
|Opportunities||Rise in demand for space saving and smart furniture|
|Investments by governments of various countries in the infrastructure development|
The research offers a detailed analysis of drivers, restraining factors, and opportunities to help market players in devising the strategies for the future and taking necessary steps toward reaching new heights for their businesses. Rise in import and export activities of luxury & comfortable wooden furniture, the requirement of lower capital investment for establishing upholstered furniture factories, and the emergence of e-commerce or online shopping channels drive the growth of the global upholstered furniture market. On the other hand, scarcity of skilled labor and unpredictable economic environment hinder the market growth.
Commenting on the ample opportunities in the upholstered furniture industry, the Lead Analyst for Consumer Goods category at Next Move Strategy Consulting, stated, “Increase in demand for space saving and smart furniture along with investments by governments of various countries in the infrastructure development create new opportunities in the coming years.”
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The report also provides a detailed segmentation of the global upholstered furniture market based on type, price range, distribution channel, end use, and geography. Based on type, the report sub-divided the market into chair, table, sofas, beds, and other types. On the basis of price range, the report bifurcated the market into mass and premium. Based on distribution channel, the market is further classified into specialty stores, supermarket/hypermarket, online channels, and others. Based on end use, the report sub-segmented the market into commercial and residential. The commercial segment is further segmented into luxury hotels, restaurants, and office spaces.
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Based on geography, the research divided the market into North America, Europe, Asia-Pacific, and RoW. According to the report, Asia-Pacific held the largest share of the global upholstered furniture market in 2021, owing to rise in deployment of upholstered furniture in restaurants and luxury hotels. On the other hand, Europe is estimated to register a steady growth over the forecast period. This is due to the presence of major market players, upgrade in the furnishing techniques, and arises in adoption in residential apartments.
The report offers an extensive region-wise and country-wise analysis of each segment and sub-segment. This analysis assists market players in determining the market scenario of different regions and countries to expand and achieve the maximum upholstered furniture market share.
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The report provides a detailed analysis of key players operating in the global upholstered furniture market. The leading market players discussed in the research include Rowe Furniture, DFS Furniture PLC, England Furniture, Lee Industries, Inc., Norwalk Furniture, Ashley HomeStores Ltd., Hooker Furniture, Palliser Furniture Upholstery Ltd., Mayo Manufacturing, Inc., and Sherrill Furniture. The research offers an extensive analysis of each market player on the basis of product portfolio, business segments, top strategies & developments, and primary market competitors.
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