In 2023, the size of the worldwide furniture market was estimated to be USD 541.52 billion. By 2030, the market is expected to reach a valuation of 780.43 billion, growing at a compound annual growth rate (CAGR) of 5.36%.
Tasteful home furnishings effectively enhance the grandeur of the living area. The original driving force behind the need for these products is the growing trend of renovation and décor among people worldwide. In order to add visual appeal to their living and dining rooms, consumers tend to go towards furniture like stools, couches, chairs, and other pieces. Growing home demand for stools and chairs with different sculpture shapes, such curves, pyramids, and others, is anticipated to create new growth prospects for the industry.
Fortune Business Insights provide this information in its report titled "Furniture Market, 2024-2030."
Information Source: https://www.fortunebusinessinsights.com/furniture-market-106357
Top Key Players Covered in the Furniture Market
Segmentation:
Wood holds the Largest Share due to its Cost-Effectiveness
On the basis of raw material, the wood segment holds a subsequent market share due to its low cost compared to items over other types. Moreover, the linked companies and their regular provisions to make such products with more innovative engineered skills are estimated to drive the market skills.
Increasing Demand for the Aesthetic Interiors to Dominate the Market Growth