Luxury Furniture Market to grow by USD 9,215.63 million from 2022 to 2027|5-years (2017-2021) historic industry size and analysis of 15 vendors- Technavio

NEW YORK, July 11, 2023 /PRNewswire/ -- The luxury furniture market size is estimated to increase by USD 9,215.63 million from 2022 to 2027, with a CAGR of 5.21%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria.

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The Luxury Furniture Market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

ANGELO CAPPELLINI and C. Srl, Club House Italia S.p.A, Eichholtz B.V., Eric Kuster Metropolitan Luxury International Holding Ltd., Giorgio Armani S.p.A., Giorgio Collection, Herman Miller Inc., LONGHI S.p.a., Minotti S.p.A., MUEBLES PICO SA, Opera Contemporary, Reflex S.p.a., ROCHE BOBOIS SA, Rugiano Srl, Silik s.r.l., Vaughan Bassett, Williams Sonoma Inc., and Natuzzi SpA. Download Free Sample

Luxury Furniture Market - Market Segmentation

The market is segmented by Application (Residential and Commercial), Distribution Channel (Offline and Online), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

• The market share growth by the residential segment will be significant during the forecast period. When compared to the commercial segment, the residential segment of the luxury furniture market is anticipated to witness major growth in terms of CAGR when compared to the commercial segment during the forecast period. The global luxury residential furniture market encompasses various furniture products such as lounge chairs, ottomans and benches, sofas, side tables and coffee tables, dining and kitchen tables, outdoor seating furniture, dining and side chairs, and stools. Major players in this market include Herman Miller Inc. (Herman Miller), Inter IKEA Group (IKEA), Muebles Pico SA (Muebles), and HNI Corp. (HNI). The market's growth is primarily driven by the increasing demand for multifunctional and multipurpose luxury residential furniture, including foldable beds and extendable sofa sets. This demand is fueled by the growth of the global real estate sector and the rise in the number of housing schemes worldwide. Notably, the Pradhan Mantri Awas Yojna-Gramin (PMAY-Gramin), initiated by the Indian government in April 2022, aims to provide affordable housing to all citizens by 2022. Such schemes, both in developed and developing regions, contribute to the growing demand for luxury furniture and drive the segment's growth in the market during the forecast period.

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Luxury Furniture Market - Market Dynamics

Key Driver

The emergence of online and offline stores offering customizable products is the major factor notably driving the market growth. The emergence of online stores has made it convenient for customers to explore a wide range of options and make informed decisions from the comfort of their homes, leading to a growing demand for customized products in the luxury furniture market. Additionally, offline stores remain popular as customers value the opportunity to physically assess the quality of furniture before making a purchase. For instance, in February 2019, Natuzzi Spa inaugurated a new store in Istanbul within the Home Design Center, while Reflex Spa opened its showroom in Milan, Italy, in April 2019. Furthermore, the demand for multifunctional furniture is expanding the luxury furniture market. Luxury furniture brands continuously seek innovative ways to create furniture with multiple functions. The increasing number of single and two-person households has driven the demand for compact, portable, technologically advanced, and foldable luxury furniture that serves various purposes. Also, consumers have developed a liking for multifunctional luxury furniture products as multifunctional luxury furniture products provide them with the liberty to quickly re-configure the entire outdoor area. 

Major Trend- Eco-friendly and organic luxury furniture will drive the global luxury furniture market growth. 

Significant Challenge- The instability in prices and increasing costs of raw materials can bring some setbacks in the global luxury furniture market.

For Insights on the trends and challenges of market dynamics VIEW PDF SAMPLE!

What are the key data covered in this Luxury Furniture Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the luxury furniture market between 2023 and 2027
• Precise estimation of the luxury furniture market 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 luxury furniture market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of luxury furniture market vendors

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Related Reports: 

The Global Home Furniture Market size is estimated to grow by  USD 105.01 million between 2022 and 2027 accelerating at a CAGR of 5.34%. This report extensively covers market segmentation by Distribution Channel (offline and online), Product (living room furniture, bedroom furniture, storage furniture, and others), and Geography ( APAC, North America, Europe, Middle East and Africa, and South America). The increasing online sales are notably driving the home furnishing market share.

The Street Furniture Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 2.24% YoY and CAGR of 2.92% for the forecast period 2021 to 2026. This report extensively covers street furniture market segmentation by distribution channel (offline and online) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). Replacement of wood with composite wooden furniture is one of the major drivers impacting the street furniture market growth.

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global luxury furniture market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global luxury furniture market 2017 - 2021 ($ million)

• 4.2 By application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – By application Segment 2017 - 2021 ($ million)

• 4.3 By distribution channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – By distribution channel Segment 2017 - 2021 ($ million)

• 4.4 By geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – By geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Residential - Market size and forecast 2022-2027
• Exhibit 34: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial - Market size and forecast 2022-2027
• Exhibit 38: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Commercial - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 45: Chart on Comparison by Distribution Channel
• Exhibit 46: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 55: Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 61: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 85: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Italy - Market size and forecast 2022-2027
• Exhibit 97: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 ANGELO CAPPELLINI and C. Srl 
• Exhibit 108: ANGELO CAPPELLINI and C. Srl - Overview
• Exhibit 109: ANGELO CAPPELLINI and C. Srl - Product / Service
• Exhibit 110: ANGELO CAPPELLINI and C. Srl - Key offerings

• 12.4 Club House Italia S.p.A 
• Exhibit 111: Club House Italia S.p.A - Overview
• Exhibit 112: Club House Italia S.p.A - Product / Service
• Exhibit 113: Club House Italia S.p.A - Key offerings

• 12.5 Eichholtz B.V. 
• Exhibit 114: Eichholtz B.V. - Overview
• Exhibit 115: Eichholtz B.V. - Product / Service
• Exhibit 116: Eichholtz B.V. - Key offerings

• 12.6 Eric Kuster Metropolitan Luxury International Holding Ltd. 
• Exhibit 117: Eric Kuster Metropolitan Luxury International Holding Ltd. - Overview
• Exhibit 118: Eric Kuster Metropolitan Luxury International Holding Ltd. - Product / Service
• Exhibit 119: Eric Kuster Metropolitan Luxury International Holding Ltd. - Key offerings

• 12.7 Giorgio Armani S.p.A. 
• Exhibit 120: Giorgio Armani S.p.A. - Overview
• Exhibit 121: Giorgio Armani S.p.A. - Product / Service
• Exhibit 122: Giorgio Armani S.p.A. - Key offerings

• 12.8 Giorgio Collection 
• Exhibit 123: Giorgio Collection - Overview
• Exhibit 124: Giorgio Collection - Product / Service
• Exhibit 125: Giorgio Collection - Key offerings

• 12.9 Herman Miller Inc. 
• Exhibit 126: Herman Miller Inc. - Overview
• Exhibit 127: Herman Miller Inc. - Business segments
• Exhibit 128: Herman Miller Inc. - Key offerings
• Exhibit 129: Herman Miller Inc. - Segment focus

• 12.10 Minotti S.p.A. 
• Exhibit 130: Minotti S.p.A. - Overview
• Exhibit 131: Minotti S.p.A. - Product / Service
• Exhibit 132: Minotti S.p.A. - Key offerings

• 12.11 MUEBLES PICO SA 
• Exhibit 133: MUEBLES PICO SA - Overview
• Exhibit 134: MUEBLES PICO SA - Product / Service
• Exhibit 135: MUEBLES PICO SA - Key offerings

• 12.12 Natuzzi SpA 
• Exhibit 136: Natuzzi SpA - Overview
• Exhibit 137: Natuzzi SpA - Product / Service
• Exhibit 138: Natuzzi SpA - Key offerings

• 12.13 Opera Contemporary 
• Exhibit 139: Opera Contemporary - Overview
• Exhibit 140: Opera Contemporary - Product / Service
• Exhibit 141: Opera Contemporary - Key offerings

• 12.14 Reflex S.p.a. 
• Exhibit 142: Reflex S.p.a. - Overview
• Exhibit 143: Reflex S.p.a. - Product / Service
• Exhibit 144: Reflex S.p.a. - Key offerings

• 12.15 Rugiano Srl 
• Exhibit 145: Rugiano Srl - Overview
• Exhibit 146: Rugiano Srl - Product / Service
• Exhibit 147: Rugiano Srl - Key offerings

• 12.16 Silik s.r.l. 
• Exhibit 148: Silik s.r.l. - Overview
• Exhibit 149: Silik s.r.l. - Product / Service
• Exhibit 150: Silik s.r.l. - Key offerings

• 12.17 Vaughan Bassett 
• Exhibit 151: Vaughan Bassett - Overview
• Exhibit 152: Vaughan Bassett - Product / Service
• Exhibit 153: Vaughan Bassett - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 154: Inclusions checklist
• Exhibit 155: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 156: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 157: Research methodology
• Exhibit 158: Validation techniques employed for market sizing
• Exhibit 159: Information sources

• 13.5 List of abbreviations 
• Exhibit 160: List of abbreviations

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