Luxury Furniture Market 2023-2028

The global luxury furniture market size reached US$ 23.2 Billion in 2022 & expects to reach US$ 31.0 Billion by 2028, growth (CAGR) of 4.8% during 2023-2028.

BROOKLYN, NEW YORK, UNITED STATES, April 12, 2023 /EINPresswire.com/ -- Luxury Furniture Market Overview:

According to the latest report by IMARC Group, titled "𝐋𝐮𝐱𝐮𝐫𝐲 𝐅𝐮𝐫𝐧𝐢𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖," offers a comprehensive analysis of the industry, which comprises insights on the global luxury furniture market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global luxury furniture market size reached US$ 23.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

Luxury furniture represents movable articles that are produced by skilled craftsmen utilizing superior quality materials and designed with zero margins for error. They are customized for kitchens, bathrooms, living rooms, outdoor spaces, etc., and are widely available in several types, such as wood, metal, glass, leather, plastic, etc. In line with this, luxury furniture products offer an aesthetic value to establishments, including hotels, homes, offices, cafes, and other areas, enhance comfort, exhibit personal touch, ensure durability, etc. Consequently, they find extensive applications in the residential and commercial sectors across countries.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/luxury-furniture-market/requestsample

Global Luxury Furniture Market Trends:

The expanding real estate sector and the growing construction of commercial and residential spaces are primarily driving the luxury furniture market. Apart from this, the inflating popularity of social media platforms, the improving living standards of individuals, and the elevating penetration of online retailing, particularly in developing nations, are acting as significant growth-inducing factors. Furthermore, extensive investments by various key market players in promotional activities, such as digital marketing campaigns and celebrity endorsements, to their boost sales and the widespread adoption of luxury furniture that act as a status symbol are also positively influencing the global market.

Besides this, the rising consumer inclination towards eco-friendly, compact, and foldable luxury furniture items that can be conveniently arranged in smaller spaces is further stimulating market growth. Additionally, the increasing number of renovation projects and strategic collaborations between leading manufacturers and interior designers to introduce innovative designs are expected to propel the luxury furniture market over the forecasted period.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞𝐬: https://www.imarcgroup.com/luxury-furniture-market

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Some of these key players include:

• Duresta Upholstery Limited
• Valderamobili s.r.l.
• Scavolini S.p.A.
• Giovanni Visentin S.R.L.
• Nella Vetrina
• Muebles Picó S.A.
• Heritage Home Group LLC
• iola Furniture Limited
• TURRI srl
• Grayson Luxury
• Williams-Sonoma, Inc.
• Cassina S.P.A

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Breakup by Application:

• Domestic Sectors
o Living Room And Bedroom
o Kitchen
o Bathroom
o Outdoor
o Lighting
• Commercial Sectors
o Office
o Hospitality
o Others

Breakup by Raw Material:

• Wood
• Metal
• Glass
• Leather
• Plastic
• Multiple
• Others

Breakup by Distribution Channel:

• Conventional Furniture Stores
• Specialty Stores
• Online Retailers
• Others

Breakup by Design:

• Modern Segments
• Contemporary Segments

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖:

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• Halal Food Market: https://www.openpr.com/news/2985037/halal-food-market-outlook-2023-2028-global-industry

• Caustic Soda Market: https://www.openpr.com/news/2985056/caustic-soda-market-outlook-2023-28-price-analysis-size

• Skin Care Products Market: https://www.openpr.com/news/2985072/skin-care-products-market-2023-28-worldwide-share-size

• Office Furniture Market: https://www.openpr.com/news/2985145/office-furniture-market-outlook-2023-2028-future-demand

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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