Household Furniture and Kitchen Cabinet Market Scope
Household furniture includes table, chairs, sofa, bed, TV stand, dining table and others. They are made from wood, plastic, metal and fibre. The infrastructural development being done in developing countries like India has increased the demand of furniture. Furthermore, the easy availability has helped the market to grow.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | IKEA (Netherlands), Ashley Furniture Industries (United States), Leggett & Platt (United States), La-Z-Boy (United States), Man Wah Holdings (China), Steelcase Inc. (United States), Ethan Allen Interiors Inc. (United States), Dorel Industries (Canada), Herman Miller, Inc. (United States) and Flexsteel Industries, Inc. (United States) |
CAGR | 21.6% |
In this market, Due to the measures taken to protect the environment, players are using different materials. The small and mid-size companies are innovating and creating an opportunity for the market as there is a demand in compact and movable furnitures Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Household Furniture and Kitchen Cabinet market throughout the predicted period.
IKEA (Netherlands), Ashley Furniture Industries (United States), Leggett & Platt (United States), La-Z-Boy (United States), Man Wah Holdings (China), Steelcase Inc. (United States), Ethan Allen Interiors Inc. (United States), Dorel Industries (Canada), Herman Miller, Inc. (United States) and Flexsteel Industries, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Roche Bobois (France) and Restoration Hardware (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Household Furniture and Kitchen Cabinet market by Type , by Application (Residential Buildings and Commercial Buildings) and Region with country level break-up.
On the basis of geography, the market of Household Furniture and Kitchen Cabinet has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, WoodenStreet launched its in-house brand "Earthy Threads" for home furnishings. House Beautiful highlighted the best new home products of 2023, including innovative items like GE's Smart Mixer and a whimsical bird feeder.
Influencing Trend:
Preference of sustainable raw material by customers and With the increase in population customers are looking for compact and easy to move furniture.
Market Growth Drivers:
Availability of internet and growth of e-commerce industry are helping to boost the sale and Expansion of operations by the major players is driving this market
Challenges:
Unavailability of skilled workers is the major challenge and Rising importance of environment is encouraging the companies to use alternative materials with low cost
Restraints:
Reduction of deforestation has created the supply shortage for raw material and High costs associated with manufacturing of furniture
Opportunities:
Growing demand of ready to assemble products and Infrastructural development in developing countries is creating an opportunity for furniture industry
Key Target Audience
Manufacturers, Research Institutes, Suppliers and Distributes and Government Associations