Luxury Furniture Market In APAC Accelerates at 5.38% CAGR | 17,000+ Technavio Research Reports
NEW YORK, March 18, 2022 /PRNewswire/ -- The "Luxury Furniture Market In APAC by Distribution Channel (Offline and Online) and Application (Residential and Commercial) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the luxury furniture market in APAC between 2021 and 2026 is USD 2.00 Billion. The report identifies the market to witness a CAGR of 5.38% during the forecast period.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver: The growing influence of different retailing channels is one of the key drivers supporting the luxury furniture market growth in APAC. The growth of the global luxury furniture market is heavily influenced by the rising popularity of online as well as offline retailing channels globally. Moreover, led by rapid industrialization globally, these organized retailers have increased in numbers and have emerged as one of the main sources of selling luxury furniture and their distribution globally.
- Market Challenge: Frequent product recalls is one of the factors hindering the luxury furniture market growth in APAC. The increasing number of product recalls featuring sub-categories, such as bar stools, recliner chairs, sofas, beds, and dining tables, is a major challenge that is anticipated to hinder the growth of the global luxury furniture market during the forecast period. Product recalls hamper the reputation of any sector and result in operational and financial constraints among players operating in the global luxury furniture market.
The growing influence of different retailing channels and rising popularity of multifunctional luxury furniture are some of the key market drivers. However, factors such as frequent product recalls will challenge market growth.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
Key Market Segment Highlights
The luxury furniture market report in APAC is segmented by Distribution Channel (Offline and Online) and Application (Residential and Commercial).
- The offline distribution channel segment held the largest luxury furniture market share in APAC. The segment will continue to retain its market dominance in the long run mainly owing to the ability of offline stores to enable consumers to touch and feel luxury furniture as a part of the buying process, thereby allowing consumers to physically experience the product before purchasing them. Considering this advantage, a number of vendors are expanding and operating their offline stores across both developed and developing regions. Such expansion will lead to the growth of the global luxury furniture market through the offline distribution channel during the forecast period.
View our sample report for additional insights into the contribution of all the segments covered in the report.
Top Market Player Insights
The luxury furniture market in APAC is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, brand, and variety to compete in the market. Companies are engaging in offering innovative solutions and products to get an upper notch in the competitive environment. For instance, DBJ Furniture Ltd. is involved in offering wide range of luxury furniture in bathroom such as bespoke brass, country superstar among others which fit seamlessly with your lifestyle and stand out functionally and aesthetically as per the look and design. Similarly, Falcon Inc. PTE Ltd. is involved in offering wide range of luxury furniture for hospitality and commercial to serve end products and services that fulfill every need as per the requirement.
Some Companies Mentioned
- DBJ Furniture Ltd.
- Dynamic Furniture Industries (M) Sdn Bhd
- Falcon Inc. PTE Ltd.
- Inter IKEA Holding BV
- Kovacs Design Furniture
- McMichael Furniture
- Shanghai JL and C Furniture Co. Ltd.
- VALDERAMOBILI srl
- Wegmans Furniture Industries Sdn Bhd
- Wisanka Indonesia
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Luxury Furniture Market by Distribution Channel, Application, and Geography - Forecast and Analysis 2021-2025
Luxury Furniture Market In APAC Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.38% |
Market growth 2022-2026 | $ 2.00 billion |
Market structure | Fragmented |
YoY growth (%) | 4.56 |
Regional analysis | APAC |
Performing market contribution | APAC at 100% |
Key consumer countries | APAC |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | DBJ Furniture Ltd., Dynamic Furniture Industries (M) Sdn Bhd, Falcon Inc. PTE Ltd., Inter IKEA Holding BV, Kovacs Design Furniture, McMichael Furniture, Shanghai JL and C Furniture Co. Ltd., VALDERAMOBILI srl, Wegmans Furniture Industries Sdn Bhd, and Wisanka Indonesia |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 5
Exhibit 04: Key Finding 6
Exhibit 05: Key Finding 7
Exhibit 06: Key Finding 8
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: Home furnishings
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 Innovation
3. Market Sizing
3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
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 Application
5.1 Market segments
Exhibit 21: Application - Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 22: Comparison by Application
5.3 Residential - Market size and forecast 2021-2026
Exhibit 23: Residential - Market size and forecast 2021-2026 ($ million)
Exhibit 24: Residential - Year-over-year growth 2021-2026 (%)
5.4 Commercial - Market size and forecast 2021-2026
Exhibit 25: Commercial - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Commercial - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Application
Exhibit 27: Market opportunity by Application
6 Market Segmentation by Distribution Channel
6.1 Market segments
Exhibit 28: Distribution Channel - Market share 2021-2026 (%)
6.2 Comparison by Distribution Channel
Exhibit 29: Comparison by Distribution Channel
6.3 Offline - Market size and forecast 2021-2026
Exhibit 30: Offline - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Offline - Year-over-year growth 2021-2026 (%)
6.4 Online - Market size and forecast 2021-2026
Exhibit 32: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Online - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by Distribution Channel
Exhibit 34: Market opportunity by Distribution Channel
7. Customer landscape
7.1 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 35: ?Customer landscape?
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing influence of different retailing channels
8.1.2 Rising popularity of multifunctional luxury furniture
8.1.3 Increasing number of new luxury furniture showroom launches
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 36: Impact of drivers and challenges
8.3 Market trends
8.3.1 Growth in demand for luxury furniture among millennials
8.3.2 Growing Demand for Luxury Home Furniture Products through E-commerce
8.3.3 Technological innovations
9. Vendor Landscape
9.1 Overview
Exhibit 37: Vendor landscape
9.2 Vendor Disruption
Exhibit 38: ?Landscape disruption?
Exhibit 39: Industry risks
9.3 Competitive Scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 40: Vendors covered
10.2 Market positioning of vendors
Exhibit 41: ?Market positioning of vendors?
10.3 DBJ Furniture Ltd.
Exhibit 42: DBJ Furniture Ltd. - Overview
Exhibit 43: DBJ Furniture Ltd. - Product and service
Exhibit 44: DBJ Furniture Ltd. - Key offerings
10.4 Dynamic Furniture Industries (M) Sdn Bhd
Exhibit 45: Dynamic Furniture Industries (M) Sdn Bhd - Overview
Exhibit 46: Dynamic Furniture Industries (M) Sdn Bhd - Product and service
Exhibit 47: Dynamic Furniture Industries (M) Sdn Bhd - Key offerings
10.5 Falcon Inc. PTE Ltd.
Exhibit 48: Falcon Inc. PTE Ltd. - Overview
Exhibit 49: Falcon Inc. PTE Ltd. - Product and service
Exhibit 50: Falcon Inc. PTE Ltd. - Key offerings
10.6 Inter IKEA Holding BV
Exhibit 51: Inter IKEA Holding BV - Overview
Exhibit 52: Inter IKEA Holding BV - Product and service
Exhibit 53: Inter IKEA Holding BV – Key news
Exhibit 54: Inter IKEA Holding BV - Key offerings
10.7 Kovacs Design Furniture
Exhibit 55: Kovacs Design Furniture - Overview
Exhibit 56: Kovacs Design Furniture - Product and service
Exhibit 57: Kovacs Design Furniture - Key offerings
10.8 McMichael Furniture
Exhibit 58: McMichael Furniture - Overview
Exhibit 59: McMichael Furniture - Product and service
Exhibit 60: McMichael Furniture - Key offerings
10.9 Shanghai JL and C Furniture Co. Ltd.
Exhibit 61: Shanghai JL and C Furniture Co. Ltd. - Overview
Exhibit 62: Shanghai JL and C Furniture Co. Ltd. - Product and service
Exhibit 63: Shanghai JL and C Furniture Co. Ltd. - Key offerings
10.10 VALDERAMOBILI srl
Exhibit 64: VALDERAMOBILI srl - Overview
Exhibit 65: VALDERAMOBILI srl - Product and service
Exhibit 66: VALDERAMOBILI srl - Key offerings
10.11 Wegmans Furniture Industries Sdn Bhd
Exhibit 67: Wegmans Furniture Industries Sdn Bhd - Overview
Exhibit 68: Wegmans Furniture Industries Sdn Bhd - Product and service
Exhibit 69: Wegmans Furniture Industries Sdn Bhd - Key offerings
10.12 Wisanka Indonesia
Exhibit 70: Wisanka Indonesia - Overview
Exhibit 71: Wisanka Indonesia - Product and service
Exhibit 72: Wisanka Indonesia - Key offerings
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 73: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 74: Research Methodology
Exhibit 75: Validation techniques employed for market sizing
Exhibit 76: Information sources
11.4 List of abbreviations
Exhibit 77: List of abbreviations
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