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July 1, 2020, 2:48 a.m. EDT

CAGR 3.62% Global Luxury Furniture Market Report (2020-2025) | Industry Growth, Size, Share, Trends, Top Manufacturers and Forecast

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Jul 01, 2020 (SUPER MARKET RESEARCH via COMTEX) -- According to the latest report by IMARC Group, titled “Luxury Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global luxury furniture market size reached US$ 26 Billion in 2019. Luxury furniture refers to a high-end movable article, characterized by elite design, that is made using good quality wood. It can also be manufactured using glass, metal or other materials to enhance the aesthetic appeal of residential spaces and commercial establishments, such as hotels, offices and restaurants. Consequently, it is widely being utilized by a majority of the population for enhancing the style, function and overall appearance of the given space.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Request for a free sample copy of this report: https://www.imarcgroup.com/luxury-furniture-market/requestsample

List of Top Manufacturers in Luxury Furniture Industry:

  1. Duresta Upholstery Limited

  2. Valderamobili s.r.l.

  3. Knoll Inc /zigman2/quotes/202405595/composite KNL -2.69%

  4. Scavolini S.p.A.

  5. Giovanni Visentin S.R.L.

  6. Grayson Luxury

  7. Nella Vetrina

  8. Hooker Furniture Corporation /zigman2/quotes/208632343/composite HOFT +1.23%

  9. Muebles Pico S.A.

  10. Heritage Home Group LLC

  11. Williams-Sonoma, Inc. /zigman2/quotes/202067350/composite WSM +0.82%

  12. Cassina S.P.A

  13. iola Furniture Limited

  14. TURRI srl

Global Luxury Furniture Market Trends:

On account of rapid urbanization, inflating income levels and changing lifestyle patterns, the majority of the urban dwellers are splurging on luxury items that enhance the aesthetics of their residential spaces and act as a status symbol. Apart from this, the expansion of residential and commercial spaces, owing to the rapidly increasing population, is also providing a thrust to the demand for luxury furniture. Moreover, numerous manufacturers operating in the industry are launching organic luxury furniture that is made using biodegradable, sustainable and renewable raw materials. This is further facilitated by an enhanced focus toward sustainable development and the advent of several favorable initiatives by governments of various countries across the globe. Some of the other factors contributing to the market growth include growing e-retail platforms, rising awareness regarding the adverse effects of toxic furniture finishes and the availability of foldable, portable and multi-functional furniture in the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 32.2 Billion by 2025, growing at a CAGR of 3.62% during 2020-2025.

Buy full report with table of contents: https://www.imarcgroup.com/luxury-furniture-market

Key Market Segmentation:

Market Breakup by Raw Material:

  1. Wood

  2. Metal

  3. Glass

  4. Leather

  5. Plastic

  6. Multiple

  7. Others

On the basis of the raw material, the market has been divided into wood, metal, glass, leather, plastic, multiple and others. Wood currently holds the largest market share.

/zigman2/quotes/202405595/composite
US : U.S.: NYSE
$ 13.39
-0.37 -2.69%
Volume: 191,601
Aug. 12, 2020 4:00p
P/E Ratio
22.94
Dividend Yield
1.79%
Market Cap
$697.74 million
Rev. per Employee
$367,770
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/zigman2/quotes/208632343/composite
US : U.S.: Nasdaq
$ 23.11
+0.28 +1.23%
Volume: 47,510
Aug. 12, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
2.77%
Market Cap
$271.45 million
Rev. per Employee
$541,567
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/zigman2/quotes/202067350/composite
US : U.S.: NYSE
$ 93.70
+0.76 +0.82%
Volume: 675,162
Aug. 12, 2020 4:00p
P/E Ratio
21.85
Dividend Yield
2.05%
Market Cap
$7.23 billion
Rev. per Employee
$204,014
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