Dublin, June 06, 2024 (GLOBE NEWSWIRE) — The report has been added to ResearchAndMarkets.com’s offering.
The global wood furniture market size reached US$ 275.7 Billion in 2023 and is projected to reach US$ 413.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.61% during 2023-2032.
The global market is primarily driven by the escalating demand for wood furniture materials in residential applications. This can be attributed to the growing need for compact and multi-functional furniture to maximize space utilization in smaller homes or apartments. In line with this, the increasing awareness regarding various environmental issues among the masses is resulting in an increasing demand for renewable and eco-friendly wood furniture. Moreover, an enhanced focus on interior design aesthetics is also propelling the demand for rustic, vintage or futuristic-designed wooden furniture, which is impacting the market positively.
The market is further fueled by the proliferation of e-commerce and online sales channels, thereby offering a diverse range of wood furniture options to a larger customer base. Apart from this, the shifting consumer preference toward the adoption of natural and authentic furniture materials is also creating a positive outlook for the market. Also, the growing number of customization and personalization options offered by furniture manufacturers are driving the demand for wood furniture as consumers look for furniture that adds a personalized touch to their homes.
Some of the other factors contributing to the market include rapid urbanization, considerable growth in the hospitality and commercial sectors, emerging trend of do-it yourself (DIY) and no-assemble furniture trends, continual technological advancements in wood furniture manufacturing processes, and extensive research and development (R&D) activities.
Key Market Segmentation:
This report provides an analysis of the key trends in each segment of the global wood furniture market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on wood type, distribution channel, and end user.
- Wood Type Insights: The report has provided a detailed breakup and analysis of the wood furniture market based on the wood type. This includes hardwood and softwood. According to the report, hardwood represented the largest segment.
- Distribution Channel Insights: The report has provided a detailed breakup and analysis of the wood furniture market based on the distribution channel. This includes retail (mass market player, furniture stores, and monobrand furniture stores) and online. According to the report, retail represented the largest segment.
- End User Insights: A detailed breakup and analysis of the wood furniture market based on the end user has also been provided in the report. This includes residential and commercial. According to the report, residential accounted for the largest market share.
- Regional Insights: The report has also provided a comprehensive analysis of all the major regional markets, which include North America; Asia Pacific; Europe; Latin America and the Middle East and Africa. According to the report, Asia Pacific was the largest market for wood furniture. Some of the factors driving the Asia Pacific wood furniture market included the inflating disposable income levels, growing need for compact and multi-functional furniture, presence of several key players, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global wood furniture market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Ashley Furniture Industries Inc., Haworth Inc., Herman Miller Inc., HNI Corporation, Inter IKEA Systems B.V., Kinnarps AB, Klaussner Home Furnishing, KOKUYO Co. Ltd., La-Z-Boy Incorporated, Okamura Corporation, Steelcase Inc and Williams-Sonoma Inc.
Key Questions Answered in This Report:
- How has the global wood furniture market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global wood furniture market?
- What is the impact of each driver, restraint, and opportunity on the global wood furniture market?
- What are the key regional markets?
- Which countries represent the most attractive wood furniture market?
- What is the breakup of the market based on the wood type?
- Which is the most attractive wood type in the wood furniture market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the wood furniture market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the wood furniture market?
- What is the competitive structure of the global wood furniture market?
- Who are the key players/companies in the global wood furniture market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (USD) in 2023 | $275.7 Billion |
| Forecasted Market Value (USD) by 2032 | $413.5 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Wood Furniture Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Wood Type
6.1 Hardwood
6.2 Softwood
7 Market Breakup by Distribution Channel
7.1 Retail
7.1.1 Market Trends
7.1.2 Key Segments
7.1.2.1 Mass Market Player
7.1.2.2 Furniture Stores
7.1.2.3 Monobrand Furniture Stores
7.1.3 Market Forecast
7.2 Online
8 Market Breakup by End User
8.1 Residential
8.2 Commercial
9 Market Breakup by Region
9.1 North America
9.2 Asia-Pacific
9.3 Europe
9.5 Middle East and Africa
10 Drivers, Restraints, and Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
- Ashley Furniture Industries
- Haworth
- Herman Miller
- HNI
- Inter IKEA Systems
- Kinnarps
- Klaussner Home Furnishing
- KOKUYO Co.
- La-Z-Boy
- Okamura
- Steelcase
- Williams-Sonoma
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