Market Overview

The global furniture market is estimated to be valued at USD 654.60 billion by 2025 and expected to grow at a CAGR of 2.64% during the forecast period. The wood segment of the furniture accounted for the largest market share in the material type segment. However, melamine segment has been projected to grow at the highest CAGR on account of increasing demand in Asia-Pacific and its low cost.

Among the furniture type, sofas accounted for the largest market share of 23.3% in 2018, closely followed by beds in the second place. However, the cabinets segment is expected to grow with the highest growth rate of 3.00% during the forecast period.

However, the only bottleneck in a growth trajectory of the global furniture market is the high prevalence of the unorganized sector in the furniture industry.

Competitive Analysis:

The prominent players expected to contribute to the development of the Furniture Market Share are Revlon Inc. (New York), Ulta Beauty, Inc (U.S.), MAC Cosmetics (The Estée Lauder Companies Inc.) (New York), Ardell International, Inc (U.S.), Shu Uemura Cosmetics, Inc. (Japan) - L'Oreal SA., and Esqido Lashes (Canada), and Kiss Products Inc (U.S.).

Industry News:

In March 2019, Jordyn Woods, an American celebrity, has introduced a range of false eyelashes which includes Summer Heir, LA Baby, and Beach Please.

In March 2019, Huda Beauty, an international cosmetics company, has collaborated with a former beauty pageant titleholder, Olivia Culpo, for bringing ultra-wearable false eyelashes.

In July 2018, The LashLiner System™, the brainchild of Laura Hunter – a famous make-up artist, has launched an innovative patent-pending system which contains first-ever magnetic eyeliner along with luxurious magnetic eyelashes.

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Market Segments

The MRFR report offers an inclusive segmental analysis of the global luxury furniture industry report based on end use, furniture type, material type, and product type.

By product type, the global luxury furniture industry is segmented into non-RTA and RTA furniture.

By material type, the global Furniture Market Share is segmented into lacquered panels, laminates, finished foils, wrapped panels, steel, glass, melamine, and wood. Of these, wood will lead the market over the forecast period.

By furniture type, the global luxury furniture industry is segmented into cabinets, beds, tables, sofas, chairs, and others.

By end use, the global luxury furniture industry is segmented into household and commercial. Of these, the household segment will have a major share in the market over the forecast period.

Regional Analysis

Based on the region, the global Furniture Market Share report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, Europe will dominate the market over the forecast period. The established hospitality sector, increasing focus on interior designing that is influencing the luxury furniture sales, presence of a strong economy, and France & Italy being the hub of fashion trends, are adding to the market growth in the region.

The global luxury furniture industry in the APAC region is predicted to grow at a fast pace over the forecast period. Product promotion by key players, booming real estate industry, increasing per capita disposable income, the demand for elegant acoustics at vehicles, hotels, restaurants, and home, and preference for posh ambiance such as luxurious architecture are adding to the growth of the market in the region.

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