Luxury Furniture Market, valued at $24 Billion in 2024, Expected to Reach $41.1 Billion by 2034 with a CAGR of 5.5% - Market Decipher

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Jul 22, 2024, 10:01 ET

PUNE, India, July 22, 2024 /PRNewswire/ -- Market Decipher published its latest research report – "Luxury Furniture Market Report" estimating luxury furniture industry at $24 Billion in 2024, growing at 5.5% CAGR during 2024 to 2034. The report offers a detailed analysis of the luxury furniture industry landscape, including key market trends, growth drivers, challenges, and opportunities. The comprehensive research report by Market Decipher provides valuable insights into the current market scenario and future prospects for the luxury furniture industry.

Get Sample Report: https://www.marketdecipher.com/report/luxury-furniture-market

"The demand for luxury furniture is on the rise owning to shift in consumer preference and awareness of aesthetics and environment-friendly products for homes and offices. This trend is apparent most in home, office, hotel or restaurants, for instance, exclusive furniture and wooden flooring."

- Ranjan Singh (Research Head, Market Decipher)

The increasing of disposable income and wealth particularly across the emergent economies is highly influential in the demand for luxury furniture. As the purchasing power of individuals rises, they are willing to spend on luxurious and better-quality furniture to display their standard and improve their interior. The global population with higher purchasing power is also growing significantly, especially in countries belonging to Asia-Pacific and Middle Eastern countries leading to high demand for luxury furniture. Additionally, the emerging urbanization is factor that is increasing the demand of luxury furniture market. This shift towards urbanization coupled with the fact that people in urban areas prefer elegance and style when it comes to home furnishing is the main reason that consumers are going for luxurious furniture pieces that will suit their new way of life.

For more information or to purchase the full report, please visit

https://www.marketdecipher.com/report/luxury-furniture-market

Key Development

In May 2024, Casamia collaborate with Edra to highlight top-notch Italian design in furniture, emphasizing style and quality craftsmanship.
In April 2024, Faye Toogood and Poltrona Frau reveal their collaboration, blending English folk style with Italian craftsmanship.
In Feb 2024, Cassina announced their outstanding partnership with Bottega Veneta the maison's Winter 24 fashion show.
In Jan 2024, Haworth and Architype have announced strategic partnership for representation and design support.
In Dec 2023, Ralph Lauren partners with Haworth to launch a strategic collaboration focused on creating luxury furniture collections.
In July 2023, Herman Miller has partnered with Gabriel Tan for the first time to launch two new projects focused on organic and modular design.

Luxury Furniture Market Segmentation

By Raw Material

Wood
Metal
Plastic
Leathers
Glass
Others

By Product Type

Beds
Table
Doors
Chairs
Sofas & Lounges
Kitchen
Lightening
Interior accessories
Others

By End-Users

Residential
Commercial
Institutional

By Distribution Channels

Online
Specialty Stores
Interior Designers and Architects
Auctions and Antique Dealers
Others Distribution Channels

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
Latin America
- Brazil
- Mexico
Middle East & Africa
- GCC
- South Africa

Key Players

SCAVOLINI S.P.A.
Cassina S.p.A
Kimball International, Inc.
Brown Jordan International
Herman Miller, Inc. (Knoll Inc)
Vivono
Boca do Lobo
DURESTA
Haworth, Inc.
MUEBLES PICO SA

Get Luxury Furniture Market Research Report: https://www.marketdecipher.com/report/luxury-furniture-market

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About Market Decipher

Market Decipher is a market research and consultancy firm involved in provision of market reports to organisations of varied sizes; small, large and medium. At Market Decipher, we concentrate on articulating relevant business policies conditional to the specific market domain for a sustainable growth. The services provided by us include syndicated research and custom research.

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SOURCE Market Decipher