What is Luxury Furniture Market Scope?
Luxury Furniture is that furniture which is conducive to sumptuous living, and that includes elements that are elegant, sumptuous and indulgent. The global luxury furniture market is expected to witness high growth in the forecasted period due to rapid urbanization and upliftment in the consumer living standards in developing countries such as India, South Africa, and China. Increasing the use of the garden as a living space, a place for active and passive recreation by people is also driving the market for luxury furniture.
The Luxury Furniture market study is being classified and major geographies with country level break-up.
Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Luxury Furniture market throughout the predicted period.
Steelcase (United States), Ashley Furniture Industries (United States), Inter IKEA Group (Netherlands), Sears Holdings (United States), Haworth (United States), Herman Miller (United States), HNI (United States), Kimball International (United States) and Knoll (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are KOKUYO Furniture (Japan), Poltrona Frau (Italy) and Masco (United States).
Analyst at AMA have segmented the market study of Global Luxury Furniture market by Type, Application and Region.
On the basis of geography, the market of Luxury 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).
Market Influencers and their development strategies
In April 2018, Williams-Sonoma, Inc. entered into a partnership with AERIN which is a popular lifestyle brand. Through this partnership Williams-Sonoma planning to launch new summer entertaining and outdoor furniture pieces.
In August 2018, Myanmar’s leading luxury furniture brand Golden Enchant opened up its second showroom in August 2018, the showroom includes German quality furniture with the new location at the Krislite showroom on Kanbae rd.
Influencing Market Trend
- Rising Penetration of Online Retailing All Across the World
- Rising Disposable Income and Affordability
- Globalization and Major Population Shift to the Urban Areas Worldwide
- Up surging Demand for Luxury Furniture in Garden, Outside Porches, and Balcony
- Changing Consumer Demographics as well as Tourism & hospitality Industry Growth
- Increasing Demand from Emerging Market such a China, India and Others
- Stringent Government Regulation
- Increased Cost of Raw Material
Key Target AudienceRaw Material Suppliers, Distributors/Traders/Wholesalers/Suppliers, Regulatory Bodies, Including Government Agencies And Ngo, Commercial Research & Development (R&D) Institutions, Importers and Exporters, Government Organizations, Research Organizations, And Consulting Firms, Trade Associations And Industry Bodies and End-Use Industries
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