Luxury Furniture Market Size to Grow by USD 9215.63 Million from 2022 to 2027, Assessment on Parent Market, Five Forces Analysis, Market Dynamics & Segmentation - Technavio

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- The Global Luxury Furniture Market share is set to increase by USD 9215.63 million from 2022 to 2027. Moreover, the market's growth momentum will accelerate at a CAGR of 5.21% as per the latest market forecast report by Technavio. The market will also record a 4.66% Y-O-Y growth Rate during the forecast period.

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Global Luxury Furniture Market- Parent Market Analysis

Technavio categorizes the global luxury furniture market as a part of the global home furnishings market, within the global household durables industry. The parent global home furnishings market covers products and companies engaged in the manufacturing/marketing of furniture, home textiles, floor coverings, and decorative products. Technavio calculates the global home furnishings market size based on the combined revenue generated by manufacturers/marketers of consumer electronics, furnishings, decorative products, household appliances, and other homeware products.

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Global Luxury Furniture Market Characteristics with Five Forces–

The Global Luxury Furniture Market is fragmented and the five forces analysis by Technavio gives an accurate vision –

• Bargaining Power of Buyers
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
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  Global Luxury Furniture Market– Customer Landscape  
• The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence. 
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Global Luxury Furniture Market- Segmentation Assessment

Geography Segment Overview

Technavio's market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Luxury Furniture Market as per geography is categorized into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Luxury Furniture Market Size and actionable market understandings.

Regional Highlights:

• Europe is the fastest-growing region in the global Luxury Furniture Market compared to other regions. 35% growth will originate from Europe. The major markets with the most potential demand for luxury furniture are France, Italy, Germany, the UK, Belgium, the Netherlands, Spain, and Russia. In Europe, there is a massively higher demand for high-end, elegant furniture with appealing designs. However, sluggish economic expansion and rising raw material costs could limit the expansion of the European market.

Type Segment Overview

• The Global Luxury Furniture Market as per Application segmentation is categorized into Residential and Commercial.
• Revenue Generating Segment -  The market share growth by the residential segment will be significant during the forecast period. The section includes furniture items like couches, side tables, coffee tables, dining and kitchen tables, lounge chairs, ottomans, benches, outdoor furniture, dining and side chairs, and stools. This market is primarily driven by the rising demand for multipurpose, multifunctional home luxury furniture, mostly consisting of extendable couch sets and folding beds.

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Global Luxury Furniture Market – Market Dynamics

Major Driver Boosting the Market

• One of the main factors fueling the expansion of the global luxury furniture market is the rising number of new luxury furniture showroom openings. The regular introduction of new luxury furniture items and showrooms around the world is boosting the expansion of the industry under consideration. New luxury furniture outlets are opening all over the world in an effort to capitalize on the market's immense growth potential. The aforementioned elements will fuel market expansion over the predicted period.

Major trends influencing the growth of glamping

• The global market for luxury furniture will rise as eco-friendly and organic furnishings gain popularity. Due to growing global worries about the damaging effects of deforestation and hazardous furniture finishes on the environment, there has been a surge in the demand for and appeal of eco-friendly luxury furniture over the past several years. The aforementioned elements have inspired numerous market players to create environmentally friendly furniture employing green technologies.
• Due to the aforementioned factors, eco-friendly and organic luxury furniture has become a significant trend that will favourably affect the target market throughout the course of the projection year.

Major Challenges interrupting the market growth

• A significant barrier to the expansion of the worldwide market for luxury furniture is the frequency of product recalls. It is predicted that the rising number of product recalls involving sub-categories like bar stools, reclining chairs, couches, beds, and dining tables will significantly impede the growth of the market under consideration over the projection period.

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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19-impacted market research reports.

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Luxury Furniture Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist Luxury Furniture Market growth during the next five years
• Estimation of the Luxury Furniture Market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the Luxury Furniture Market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Luxury Furniture Market vendors

Related Reports:

• The Home Furniture and Bedding Market in the US is projected to grow by USD 10.86 billion with a CAGR of 18.38% during the forecast period 2021 to 2026. The report extensively covers the home furniture and bedding market in the US segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).
• The Smart Pillows Market is projected to grow by USD 661.29 million with a CAGR of 15.75% during the forecast period 2021 to 2026. The report extensively covers the smart pillows market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

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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