Furniture Market Research
Furniture is an integral part of home & office interiors and present-day consumer has become quite conscious about it. The industry has for long been driven by increasing disposable incomes, improving standards of living, and evolving consumer preferences for elegantly styled furniture. However, as in other sectors, the furniture segment too has been affected by the global economic slowdown.
The global furniture & floor coverings market shrank by 1% in 2009 to reach a value of $398.3 billion. Further, the world market for furniture & fixtures is projected to average to $395 billion by the year 2012. In 2014, the global furniture & floor coverings market is forecast to have a value of $425.4 billion, an increase of 6.8% since 2009. Living Room Furniture has emerged as the largest segment of the global furniture & floor coverings market, accounting for 39.3% of the markets total value. Europe accounts for 44.6% of the global furniture & floor coverings market value.
A noteworthy trend in this industry is the present-day consumer’s demand for furniture that fits gracefully into their modern multipurpose living rooms. The urban consumers now prefer living area equipped with multipurpose furniture, such as futons, beanbags, plush leather benches, and oversized love seats, which offer various seating options. The most popular trend observed among homeowners is to club the living area with home theater entertainment. Asia-pacific is projected to emerge into the fastest growing region for this sector, with a CAGR of 4.35% over the years 2011 through 2015. Garden, kitchen, and bedroom furniture are expected to experience relatively stronger growth over the years 2011 through 2015, with projected CAGRs in excess of 3%.
The Furniture market research reports incorporate trend analysis, statistics, market size information, indus