Luxury furniture market is expected to grow at a CAGR of 5.1% by 2031. Luxury furniture are comprises of furniture manufactured with the help of high quality materials and refined process. It increases the aesthetic value of commercial as well as residential establishments. The rising disposable income and increasing purchasing power of households has stimulated the demand for luxury furniture all across the globe.

The global luxury furniture market is growing at a fast pace and is anticipated to attain significant growth over the next seven years till 2023. Escalating growth of real estate sector coupled increasing online shopping is expected to foster the growth of luxury furniture market over the period 2016-2023.

At present, Europe region captured the maximum share in revenue of luxury furniture market and is anticipated to dominate over the forecast period. Changing fashion and lifestyle along with rising urban population has strengthened the growth of the region over the past few years. Rising real estate development such as increasing number of residential and commercial buildings especially in India and China is anticipated to expand the growth of Asia Pacific luxury furniture market till 2023.

The global luxury furniture market is mainly concentrated in Europe. Major players are adopting different market strategies to enter and enhance their market position and distribution network.      

Key Players Identified Across the Value Chain in the Luxury Furniture Market include but are not limited to:

Giovanni Visentin s.r.l, Henredon Furniture Industries Inc., Duresta Upholstery Ltd, Muebles Pico, Iola Furniture Limited, Laura Ashley Holding Plc, and Nella Vetrina, Valderamobili, Scavolini, Laura Ashley Holding Plc, Turri S.r.l.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Luxury Furniture market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Luxury Furniture market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Luxury Furniture market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Luxury Furniture market?
• Which is the largest regional market for Luxury Furniture market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Luxury Furniture market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Luxury Furniture market worldwide?