High-End Furniture Market in North America to grow at a CAGR of 4.38% from 2021 to 2026|Century Furniture LLC, Cococo Home Inc., Gilani Furniture, and more to emerge as key players- Technavio

NEW YORK, July 19, 2023 /PRNewswire/ -- The high-end furniture market in North America size is estimated to grow by USD 2.69 billion from 2021 to 2026. The market is estimated to accelerate at a CAGR of 4.38%, according to Technavio.The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Brown Jordan International Inc., Century Furniture LLC, Cococo Home Inc., Gilani Furniture, Grayson Living, Herman Miller Inc., Hermes International SA, Kimball International Inc., Kindel Furniture Company Grand Rapids, and Restoration Hardware Inc. among others. Download a Sample Report Now!

High-End Furniture Market Insights In North America -

• Vendors: 15+, Including Brown Jordan International Inc., Century Furniture LLC, Cococo Home Inc., Gilani Furniture, Grayson Living, Herman Miller Inc., Hermes International SA, Kimball International Inc., Kindel Furniture Company Grand Rapids, and Restoration Hardware Inc. among others.
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Distribution Channel (Offline and Online) and Geography (US, Canada, and Mexico)

To understand more about the high-end furniture market, request a sample report

Major Drivers - The growing popularity of multi-functional luxury furniture drives the high-end furniture market growth in North America during the forecast period. One of the main examples of multi-functional luxury furniture is a bedroom that can be rapidly transformed into an entertainment and study area using a wall bed. Other segments of luxury multi-functional furniture products are chairs that can fold into couches, a bed that can be customized into a full bookshelf, and desks that be transformed into dining tables. For instance, the recent developments and innovations in the high-end luxury furniture category is the launch of a multi-functional high-end furniture product, Kojin Grill, by internationally-acclaimed luxury furniture specialist Jaime Alexander International Ltd. Hence, such new product launches and innovations are expected to drive the high-end furniture market growth in North America during the forecast period. 

Significant Trends - The increasing demand for luxury furniture among millennials is an emerging trend in the high-end furniture market in North America. There is a significant increase in the millennial population globally which is increasing the demand for luxury furniture. As per 2020 data, millennials account for 72 million and are considered the most spending demographic segment in the US. Due to the rise in disposable income among millennials, there is a significant increase in demand for high-end luxury furniture. One of the most adopted segments in high-end furniture among millennials includes the recliner sofa and recliner chair segment. Hence, it is expected that the rise in the adoption of high-end furniture is expected to drive the high-end furniture market growth in North America during the forecast period.

Key challenges - Frequent product recalls are a major challenge impeding the high-end furniture market growth in North America during the forecast period. One of the main issues with product recalls is that it negatively impacts the reputation of any organization as well as the industry and affects the prominent players operating in the market. There have been numerous product recalls which have happened in the furniture market in North America over the past few years. For instance, in 2021, there was a product recall of high-end luxury char which failed to meet the standards of lead paints. Another significant example of a product recall in the US is a company called Jimco Lamp & Manufacturing Co., which has recalled 110,000 accent tables that had charging units. Hence, such product recalls are expected to hinder the high-end furniture market growth in North America during the forecast period.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The high-end furniture market in North America report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

Why Buy?

• Add credibility to strategy
• Analyzes competitor's offerings 
• Get a holistic view of the market

Grow your profit margin with Technavio- Buy the Report

What are the key data covered in this High-End Furniture Market In North America report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the high-end furniture market in North America between 2022 and 2026
• Precise estimation of the size of the high-end furniture market in North America size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the high-end furniture market in North America across the US, Canada, and Mexico
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the high-end furniture market in North American vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The office furniture market size is estimated to grow at a CAGR of 6.09% between 2022 and 2027. The market size is forecast to increase by USD 26.8 billion. This office furniture market report extensively covers market segmentation by distribution channel (offline and online), end-user (commercial office furniture and home office furniture), product (seating, systems, tables, storage units and files, and overhead bins), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The wooden furniture market size is estimated to grow at a CAGR of 5.56% between 2022 and 2027. The market size is forecast to increase by USD 108.09 billion. This wooden furniture market report extensively covers market segmentation by application (home and office), distribution channel (offline and online), and geography APAC, Europe, North America, South America, and Middle East and Africa. The growth of the real estate and construction industry is notable driving the wooden furniture market.

Table of Contents

***1. Executive Summary                           

                **1.1 Market Overview

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

***2. Market Landscape                             

                **2.1 Market ecosystem             

                                *Exhibit 07:  Parent market

                                *Exhibit 08:  Market characteristics

                **2.2 Value chain analysis           

                                *Exhibit 09:  Value chain analysis

                                *2.2.1 Inputs

                                *2.2.2 Inbound logistics

                                *2.2.3 Operations

                                *2.2.4 Outbound logistics

                                *2.2.5 Marketing and sales

                                *2.2.6 Service

                                *2.2.7 Support activities

                                *2.2.8 Innovations

***3. Market Sizing                       

                **3.1 Market segment analysis 

                                *Exhibit 10:  Market segments

                **3.2 Market size 2021 

                **3.3 Market definition

                                *Exhibit 11:  Offerings of vendors included in the market definition

                **3.4 Market outlook: Forecast for 2021 - 2026 

                                *3.4.1 Estimating growth rates for emerging and high-growth markets

                                *3.4.2 Estimating growth rates for mature markets

                                *Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                                *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 14:  Five forces analysis 2021 & 2026

                **4.2 Bargaining power of buyers           

                                *Exhibit 15: Bargaining power of buyers

                **4.3 Bargaining power of suppliers       

                                *Exhibit 16: Bargaining power of suppliers

                **4.4 Threat of new entrants    

                                *Exhibit 17: Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 18: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 19: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 20:  Market condition - Five forces 2021

***5 Market Segmentation by Distribution channel                       

                **5.1 Market segments

                                *Exhibit 21:  Distribution channel - Market share 2021-2026 (%)

                **5.2 Comparison by Distribution channel           

                                *Exhibit 22:  Comparison by Distribution channel

                **5.3 Offline - Market size and forecast 2021-2026           

                                *Exhibit 23:  Offline - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 24:  Offline - Year-over-year growth 2021-2026 (%)

                **5.4 Online - Market size and forecast 2021-2026            

                                *Exhibit 25:  Online - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 26:  Online - Year-over-year growth 2021-2026 (%)

                **5.5 Market opportunity by Distribution channel            

                                *Exhibit 27:  Market opportunity by Distribution channel

***6. Customer landscape                         

                **6.1 Overview

                                *Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                *Exhibit 28: Customer landscape

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *Exhibit 29:  Market share by geography 2021-2026 (%)

                **7.2 Geographic comparison   

                                *Exhibit 30: Geographic comparison

                **7.3 US - Market size and forecast 2021-2026   

                                *Exhibit 31:  US - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 32:  US - Year-over-year growth 2021-2026 (%)

                **7.4 Canada - Market size and forecast 2021-2026          

                                *Exhibit 33: Canada - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 34: Canada - Year-over-year growth 2021-2026 (%)

                **7.5 Mexico - Market size and forecast 2021-2026          

                                *Exhibit 35: Mexico - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 36: Mexico - Year-over-year growth 2021-2026 (%)

                **7.6 Market opportunity by geography

                                *Exhibit 37: Market opportunity by geography

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1 Rising popularity of multi-functional luxury furniture

                                *8.1.2 Increasing number of new high-end furniture showroom launches

                                *8.1.3 Rapid urbanization and industrialization across the region

                **8.2 Market challenges              

                                *8.2.1 Frequent product recalls

                                *8.2.2 Unstable prices of raw materials

                                *8.2.3 Stringent regulations related to luxury furniture

                                *Exhibit 38:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1 Growth in demand for luxury furniture among millennials

                                *8.3.2 Technological innovations 

                                *8.3.3 Growing demand for high-end furniture products through e-commerce

***9. Vendor Landscape                             

                **9.1 Overview

                                *Exhibit 39: Vendor landscape

                                *The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                **9.2 Landscape disruption        

                                *Exhibit 40: ?Landscape disruption?

                                *Exhibit 41: Industry risks

                **9.3 Competitive scenario        

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 42: Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 43: ?Market positioning of vendors?

                **10.3 Brown Jordan International Inc. 

                                *Exhibit 44:  Brown Jordan International Inc. - Overview

                                *Exhibit 45:  Brown Jordan International Inc. - Business segments

                                *Exhibit 46:  Brown Jordan International Inc. - Key offerings

                                *Exhibit 47:  Brown Jordan International Inc. - Segment focus

                **10.4 Century Furniture LLC     

                                *Exhibit 48:  Century Furniture LLC - Overview

                                *Exhibit 49:  Century Furniture LLC - Product and service

                                *Exhibit 50:  Century Furniture LLC - Key offerings

                **10.5 Cococo Home Inc.            

                                *Exhibit 51:  Cococo Home Inc. - Overview

                                *Exhibit 52:  Cococo Home Inc. - Product and service

                                *Exhibit 53:  Cococo Home Inc. - Key offerings

                **10.6 Gilani Furniture 

                                *Exhibit 54:  Gilani Furniture - Overview

                                *Exhibit 55:  Gilani Furniture - Product and service

                                *Exhibit 56:  Gilani Furniture - Key offerings

                **10.7 Grayson Living   

                                *Exhibit 57:  Grayson Living - Overview

                                *Exhibit 58:  Grayson Living - Product and service

                                *Exhibit 59:  Grayson Living - Key offerings

                **10.8 Herman Miller Inc.           

                                *Exhibit 60:  Herman Miller Inc. - Overview

                                *Exhibit 61:  Herman Miller Inc. - Business segments

                                *Exhibit 62:  Herman Miller Inc. - Key offerings

                                *Exhibit 63:  Herman Miller Inc. - Segment focus

                **10.9 Hermes International SA

                                *Exhibit 64:  Hermes International SA - Overview

                                *Exhibit 65:  Hermes International SA - Business segments

                                *Exhibit 66:  Hermes International SA - Key offerings

                                *Exhibit 67:  Hermes International SA - Segment focus

                **10.10 Kimball International Inc.            

                                *Exhibit 68:  Kimball International Inc. - Overview

                                *Exhibit 69:  Kimball International Inc. - Business segments

                                *Exhibit 70:  Kimball International Inc. - Key offerings

                                *Exhibit 71:  Kimball International Inc. - Segment focus

                **10.11 Kindel Furniture Company Grand Rapids              

                                *Exhibit 72:  Kindel Furniture Company Grand Rapids - Overview

                                *Exhibit 73:  Kindel Furniture Company Grand Rapids - Product and service

                                *Exhibit 74:  Kindel Furniture Company Grand Rapids - Key offerings

                **10.12 Restoration Hardware Inc.         

                                *Exhibit 75:  Restoration Hardware Inc. - Overview

                                *Exhibit 76:  Restoration Hardware Inc. - Business segments

                                *Exhibit 77:  Restoration Hardware Inc. - Key offerings

                                *Exhibit 78:  Restoration Hardware Inc. - Segment focus

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 ????Market definition

                                *11.1.2 ????Objectives

                                *11.1.3 Notes and Caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 79: ?Currency conversion rates for US$?

                **11.3 Research Methodology 

                                *Exhibit 80: ?Research Methodology

                                *Exhibit 81: ??Validation techniques employed for market sizing?

                                *Exhibit 82: ??Information sources

                **11.4 List of abbreviations        

                                *Exhibit 83: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio