131 The global furniture market size was USD 475.4 billion in 2020. The market is projected to grow from USD 493.6 billion in 2021 to USD 720.2 billion by 2028 at a CAGR of 5.5% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Furniture Market, 2021-2028.” According to our analysts, rising home decoration and renovation trends among the global population are principally promoting the demand for such products. Closure of Furniture Shops amid COVID-19 Lockdown Constraints to Restrict Market GrowthThe indeterminate existence of the COVID-19 lockdown limitations is leading to the closing down of upholstery shops around the globe. Therefore, upholstery shops are observing a deterioration in sales owing to such a limitation. Furthermore, to avert coronavirus infection, common people have restricted themselves to shop furniture pieces from these stores. Such influences are exhibiting difficulties to the complete market growth during the pandemic period. List of Key Players Covered in the Furniture Market Report Harman Miller Inc. (Michigan, U.S.)Steelcase Inc. (Michigan, U.S.)HNI Corporation (Lowa, U.S.)Ashley Furniture Industries Inc. (Wisconsin, U.S.)Duff & Phelps, LLC. (New York, U.S.)Global Furniture USA (New Jersey, U.S.)ZouYou (Shenzhen, China)P & C ArteMobili SA (Nova Prata, Brazil)Saudi Modern Factory Co. (Riyadh, Saudi Arabia)DEDON GmbH (Luneburg, Germany)Dare Studio (Worthing, England) Report Coverage The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the virtual reality market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you. Driving Factors Steady Launch of Groundbreaking and Lavish Furniture Pieces to Spur Growth Intermittent presentation of companies’ elite home facilities is anticipated to entice people to purchase them, consequently fueling the demand for these products. For example, in February 2020, BAXTER, which is an Italian home fitting products company, along with Sources Unlimited, its Indian provider, unveiled radical, lavish, and greatly crafted fixture items in India. This is expected to spur the furniture market growth. Regional Insights Asia Pacific to Hold Dominant Position in the Market through 2028 Asia Pacific market was worth USD 223.9 billion in 2020. The largest furniture market share of the Asia Pacific region is accredited to several wood furniture producers in nations such as China and India. North America holds a substantial share of the market owing to the large usage of such products among the U.S. and Canada population, leading to the greater product incomes from such region. Significant growth of the European region is accredited to the rising utilization of wood-based furnishing pieces among the population in nations such as the U.K. and Germany. Industry Segmentation By Material, the global market is divided into: WoodMetalPlasticOthers By Category, the market is segregated into: IndoorOutdoor By End-User, the market is categorized into: ResidentialOfficeHotelOthers By Region, the global market is branched into: North AmericaEuropeAsia PacificSouth AmericaMiddle East and Africa Competitive Landscape Collaborations among Corporations to Safeguard Their Brand Values in Global Market Fundamental players in the market are incessantly choosing operative tactics to endorse their products and institute their positions in the market. One such tactic is to unveil novel products by teaming up with other companies to expand their reach to end-users. Major Table of Content: IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsOverview of the Parent/Related MarketsIndustry SWOT AnalysisSupply Chain and Regulatory AnalysisRecent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & AcquisitionsQualitative Analysis (in relation to COVID-19)Impact of COVID-19Supply Chain ChallengesPotential Opportunities due to COVID-19 TOC Continued…! Key Industry Development May 2020: Theodore Alexander USA, Inc., who is a console table and chair products producer, teamed up with Ralph Lauren Corporation, a vital U.S. based fashion products company, to extend its business through the partner’s retail fashion stores based in the U.S. Browse Detailed Overview of This Research: https://www.fortunebusinessinsights.com/furniture-market-106357 0 comment 0 FacebookTwitterPinterestEmail admin MarketGuest is an online webpage that provides business news, tech, telecom, digital marketing, auto news, and website reviews around World. previous post How to Reset Netgear Orbi Router? next post 6 Mobile App Marketing Trends to Follow in 2022 Related Posts How to Choose the Right Sound Dampening Panels... December 4, 2024 Transform Your Space with Decorative Living Room Accessories December 2, 2024 How to Identify the Best Play School in... 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