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Aug. 2, 2021, 1:10 a.m. EDT

Luxury Furniture Market Size to Witness Huge Growth by 2027

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Aug 02, 2021 (Market Insight Reports) -- Selbyville, Delaware According to a research report titled 'Luxury Furniture Market Size, By Type (Tables, Chairs, Sofas & Lounges, Kitchen, Lighting, Interior Accessories, Beds), By Distribution Channel (Online, Offline), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027', available with Market Study Report LLC, luxury furniture market is expected to witness considerable growth over the forecast period 2021-2027.

Evolving consumer buying patterns due to lifestyle transformations across the globe, as well as inclination towards replacement of old furniture are the primary factors responsible for worldwide luxury furniture industry growth.

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3793261/?utm_source=Marketwatch.com&utm_medium=AN

Moreover, widespread preference for eco-friendly products, mounting demand for customizable options, and introduction of various classic as well as modern furniture designs by manufacturers are also stimulating overall market trends.

Elaborating on the negatives, factors such as surging furniture costs, slacking supply chain efficiency & visibility, and dearth of skilled labor to deal with fluctuating demand are likely to slow down the market growth trajectory in the upcoming years.

Based on product type, the industry is classified into beds, lighting, kitchen, interior accessories, sofas & lounges, tables, chairs, and others. Of these, kitchen furniture segment is expected to register a CAGR of 4.1% over the study duration, while interior accessories segment captured a revenue share of nearly 7% in 2020.

From a regional frame of reference, Middle East & Africa industry held a volume share of approximately 12% in 2020. Notably, MEA is home to some of the rapidly developing economies, which is steering industry development across the region.

Prominent players influencing the luxury furniture market sphere are Selva 1968 S.r.l. GmbH, U.S. Quality Furniture Services Inc., Club House Italia S.p.A., Giorgetti S.p.A., Reflex S.p.A., Furniture Services Inc., McCarthy Group Ltd., Herman Miller Inc., BRABBU, Urban Office Interiors Ltd., HNI Corp., Godrej & Boyce Mfg. Co. Ltd., Haworth Inc., Renaissance Office Design & Furniture, Heritage Home Group LLC, Furniture Concepts LLC, Bentley Homes, Boca Do Lobo, Illulian S.r.l, Marioni, Knoll Inc., Inter IKEA Systems B.V., Cassina S.p.A., Kohler Co., and Cassina S.p.A.

Questions and Answers:

Q1: What are the primary factors impelling the growth of luxury furniture market?

A1: Evolving consumer buying patterns due to lifestyle transformations across the globe, as well as inclination towards replacement of old furniture are the primary factors responsible for worldwide luxury furniture industry growth.

Q2: Why is Middle East & Africa emerging as a lucrative growth avenue in luxury furniture market?

A2: Middle East & Africa houses some of the most rapidly developing economies in the world, which is steering luxury furniture industry development and establishing the region as a lucrative investment opportunity.

Q3: How is the competitive landscape of luxury furniture market defined?

A3: Prominent players influencing the luxury furniture market sphere are Selva 1968 S.r.l. GmbH, U.S. Quality Furniture Services Inc., Club House Italia S.p.A., Giorgetti S.p.A., Reflex S.p.A., Furniture Services Inc., McCarthy Group Ltd., Herman Miller Inc., BRABBU, Urban Office Interiors Ltd., HNI Corp., Godrej & Boyce Mfg. Co. Ltd., and Haworth Inc., among others.

Complete Report At: https://www.marketstudyreport.com/reports/luxury-furniture-market?utm_source=Marketwatch.com&utm_medium=AN

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