Faux leather furniture is made up artificially by using vegan leather that further increases the durability of the leather. Increasing disposal income in the Asian countries leads to the changing customer inclination towards home decoration. Also, the low operating cost of the faux leather furniture reduces the overall cost of the product and the rising popularity of faux leather furniture due to its wide range of benefits including, does not crack or fade in sunlight, waterproof features and others. However, fluctuation in the prices of raw material and the presence of alternative in the operating market are the factors that have been limiting the overall growth of the market.
- Growing Demand due to the Changing Customer Inclination towards Home Decoration
- Low Cost of Faux Leather Furniture over Pure Leather Furniture
- Rising Popularity of Faux Leather Furniture due to its wide Range of Benefits including, does not Crack or Fade in Sunlight, Waterproof Features, and Others
- Fluctuation in the Prices of Raw Material
- Intense Competition among Established Players
The key Vendors profiled in the report are Steelcase (United States), HNI Corporation (United States), AURORA (Australia), Lamex Trading Co. Ltd.S (Hong Kong), Guangzhou Shengsheng Guanmei Furniture Co., Ltd. (China), VICTORY (China), UB Group (United States), Kinwai Furniture Decoration Co.,Ltd (China), CJC FURNITURE (United Kingdom) and Comwell (Australia). Additionally, other players that are part of this comprehensive study are ONLEAD (United States) and SAOSEN (Italy).