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Luxury Furniture Market Trends

Report ID: GMI5034
Published Date: Jul 2024
Report Format: PDF

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Luxury Furniture Market Trends

The luxury furniture industry is increasingly adopting sustainability and personalization to meet the changing preferences of high-end buyers. As environmental responsibility is essential, there is an increasing demand for furniture produced from eco-friendly materials such as recycled wood and bamboo. In addition, the desire for unique, customized furnishings is fuelling the trend toward personalization, with affluent customers looking for furniture that reflects their individual taste and preferences.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global industry size for luxury furniture was valued at USD 23.9 billion in 2023 and is anticipated to register 4.5% CAGR between 2024 and 2032 due to the rising construction activities and increasing disposable incomes.

The chair segment in the luxury furniture market is expected to record 4.6% CAGR from 2024 to 2032, owing to the demand for luxury, ergonomic chairs, and increasing remote work.

Europe market size is predicted to witness 4.3% CAGR through 2032 due to its craftsmanship, design expertise, and high-quality materials.

Bentley Home, Boca do Lobo, cassina, Furniture Concepts, Godrej & Boyce Manufacturing Co. Ltd., Haworth Inc, Heritage Home, Herman Miller, Inc., HNI, IKEA, and Illulian Luxury Rugs, among others.