Research Report on “Global
Luxury
Furniture Market 2015-2019 ”
Global luxury furniture:
Market outlook
With change in lifestyle and
growth in the economy, people are constantly enhancing their living
and work environment, hence the adoption of products such as luxury
furniture is on the rise. Luxury furniture is undergoing rapid
modifications, wherein vendors are coming up with various striking
new designs and collaborating with interior designers to increase
their visibility to capture high customer base.
According to Technavio
analysts, the global luxury furniture market is expected to grow at a
CAGR of over 4% during the forecast period. In terms of geography,
Europe represented the largest market for luxury furniture. The
market in developed countries is growing at a moderate rate, however,
the growth in developing countries such as China and India has been
significantly high and promising. One major trend motivating the
market growth is the advent of eco-friendly furniture, which is
driven by the growing environmental concerns that have driven the
furniture vendors to go green.
Segmentation of the global
luxury furniture market by application
- Domestic
- Commercial
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The rise in domestic real
estate industry and growing number of high net worth individuals
(HNWI) and ultra high net worth individuals (UHNWI) population
globally, has led to the growth of domestic segment with a market
share of nearly 72% as of 2014. During the forecast period, domestic
segment will continue to grow at a fast pace and retain its lead in
the market.
Segmentation of the global
luxury furniture market by retail format
- Monobrands
- Furniture retailer
- Departmental stores
- Online retailing
With a contribution of almost
50%, monobrand stores dominated the global luxury furniture market.
The international appearance and touch of these spacious stores
attracts the target consumers by projecting a fitting brand image.
Some of the top vendors operating in this segment are Duresta
Upholstery, Giovanni Visentin, and Laura Ashley.
Competitive landscape and
key vendors
The global luxury furniture
market is marked by the presence of well-diversified international
and regional vendors. However, regional players are finding it
difficult to compete with international players in terms of
technology and pricing. Thus, vendors in the market are continuously
looking for ways to enhance their quality by concentrating on
original designs and technology.
Top vendors in this market
are -
- Duresta Upholstery
- Giovanni Visentin
- Laura Ashley
- Muebles Pico
- Scavolini
Other prominent vendors
included in this report are Henredon Furniture Industries, Herman
Miller, HNI, IKEA, Iola Furniture, Kimball International, Knoll,
Nella Vetrina, Steelcase, Turri S.r.l., and Valderamobili.
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Table
of Content :
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research
methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Global luxury furniture
market: size and forecast
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