What is Small Space Furniture Market?
Small Space Furniture is basically furniture that takes up less space and is often transformable, meaning it can serve many purposes. Furniture that saves space is typically more imaginative, has a more contemporary look, and is built to fit into smaller living spaces. Small-space living has become the new standard in today's world. Since much of this furniture is compact, more room for navigation and movement inside the house can be accommodated. Small space furniture is also hailed as a leader in the field of sustainable living. Foldable chairs, retractable and mounted tables, island kitchens, ottomans, foldable kitchens, lightweight coffee tables, wardrobes, portable book shelves, and expanding tables are only a few examples of small space furniture. The small space furniture industry is influenced by rapid urbanisation and real estate demand development. Millennials preferring to live in rented apartments is a growing trend.
The market study is being classified by Type (Chairs, Tables, Sofas, Beds and Other) and major geographies with country level break-up.
IKEA (Sweden), Crate & Barrel (United States), Wooden Street (India), HomeLane (India), West Elm (United States), Godrej Interio (India), Pottery Barn (United States), Ethan Allen (United States) and Urban Outfitters (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Expand Furniture (Canada), Apt 2B (United States) and Resource Furniture (United States).
The Market is Highly Competitive with Several global and local players present in the market. Major players are trying Several product innovation and marketing techniques. Also Various major players are focusing on expansion. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Small Space Furniture market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Small Space Furniture market by Type, Application and Region.
On the basis of geography, the market of Small Space Furniture 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Urbanization and Rapid Changing Lifestyle of People
- Rising Inclination of Customers Towards Modular Furniture
- Rising Number of Nuclear Families is Increasing Resulting in Demand for Portable and Space-Saving products
- Sustainable and Natural Furniture Materials
- Low Seating
- Fluctuating Prices of Raw Materials
- Growing Infrastructure Investment in Residential and Commercial sector
- Growing E-commerce, Hence Easy Availability
- Growing Demand of Multi-Functional Furniture
- Product Innovation
- Presence of Local Players in the market
Market Leaders and some development strategies
Ikea in 2020, Opened 3 Three new stores in three different Countries including India, China and Russia. Alongside investing in new channels and digital formats, IKEA is opening new physical meeting places close to where people, live, work and socialise. The aim is to become more convenient and more affordable for our customers, and more sustainable for our planet.
Key Target AudienceManufacturers of Small Space Furniture, Suppliers of Small Space Furniture, Wholesalers, Distributors and Retailers of Small Space Furniture, Raw Material Providers, End-Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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