Wooden furniture market size to grow by USD 49.3 billion, Insights on the key drivers and trends - Technavio

NEW YORK, Nov. 30, 2022 /PRNewswire/ -- The wooden furniture market size is projected to grow by USD 49.3 billion, progressing at a CAGR of 2.73% from 2021 to 2026. Based on region, the global wooden furniture market is segmented into North America, South America, Europe, APAC, and MEA. APAC is estimated to contribute 46% to the growth of the global market over the forecast period. The increase in office space owing to the rise in the number of corporate offices will facilitate the wooden furniture market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Global Wooden Furniture Market 2022-2026
Technavio has announced its latest market research report titled Global Wooden Furniture Market 2022-2026

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Wooden furniture market: Growth of the real estate and construction industries drives the growth

  • The growth of the real estate and construction industries is driving the wooden furniture market growth. The number of single-person and two-person households has increased, which has contributed to the rise of home construction. Moreover, the increase in investments in the global real estate market during the past decade has significantly fueled the global wooden furniture market. Developing economies are also witnessing the expansion of the real estate sector. Thus, the growth of the real estate and construction industry will drive the wooden furniture market growth during the forecast period.

Wooden furniture market: Increasing adoption of eco-friendly furniture is the key trend

  • The increasing adoption of eco-friendly furniture is a key trend in the market. Concerns regarding global warming have led to the adoption of eco-friendly furniture. Hence, consumers are purchasing eco-friendly furniture, such as furniture made from Moso bamboo. Moreover, several non-profit trade associations have introduced guidelines for the suppliers and manufacturers of eco-friendly furniture to promote health, environmental equilibrium, and well-being. Such factors will support the growth of the global wooden furniture market during the forecast period.

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Wooden furniture market: Segmentation analysis

This market research report segments the wooden furniture market by application (home and office) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report!

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

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The upholstered furniture market size is expected to increase by USD 15.96 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.04%. Furthermore, this report extensively covers upholstered furniture market segmentation by distribution channel (offline and online) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The home furniture and bedding market size in the US is projected to grow by USD 10.86 billion with a CAGR of 2.96% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the market segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).

Wooden Furniture Market Scope

Report Coverage

Details

Page number

138

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 2.73%

Market growth 2022-2026

USD 49.3 billion

Market structure

Fragmented

YoY growth (%)

2.22

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 46%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ashcomm LLC, Danube Group, Duresta Upholstery Ltd., FABRYKI MEBLI FORTE SA, Global Furniture Group, Godrej and Boyce Manufacturing Co. Ltd., Haworth Inc., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Kinnarps AB, Natuzzi SpA, Nilkamal Ltd., Okamura Corp., Pan Emirates Home Furnishings, Samson Holding Ltd., Steelcase Inc., Turri Srl, and Williams Sonoma Inc.

Market dynamics

Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Application

  • 5.1 Market segments

  • 5.2 Comparison by Application

  • 5.3 Home - Market size and forecast 2021-2026

  • 5.4 Office - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Application

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 APAC - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 North America - Market size and forecast 2021-2026

  • 7.6 South America - Market size and forecast 2021-2026

  • 7.7 Middle East and Africa - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 Germany - Market size and forecast 2021-2026

  • 7.11 Japan - Market size and forecast 2021-2026

  • 7.12 India - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Ashcomm LLC

  • 10.4 Danube Group

  • 10.5 FABRYKI MEBLI FORTE SA

  • 10.6 Godrej and Boyce Manufacturing Co. Ltd.

  • 10.7 Herman Miller Inc.

  • 10.8 HNI Corp.

  • 10.9 Inter IKEA Holding BV

  • 10.10 Okamura Corp.

  • 10.11 Steelcase Inc.

  • 10.12 Williams Sonoma Inc.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

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Global Wooden Furniture Market 2022-2026
Global Wooden Furniture Market 2022-2026
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