Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) — The “Global High End Design Furniture Market (2023 Edition): Analysis By Type (Living and Bedroom, Kitchen, Bathroom, Lighting and Outdoor), By Distribution Channel, Distribution Channel, By Region, By Country: Market Insights and Forecast (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.
The Global High End Design Furniture market showcased growth at a CAGR of 5.7% during 2019-2022. The market was valued at USD 44.76 billion in 2022 which is expected to reach USD 101.4 billion in 2029. Rapid urbanization has led to smaller living spaces, particularly in urban areas. As a result, individuals are looking for furniture that not only serves a functional purpose but also maximizes the use of space. High-end design furniture often incorporates innovative and space-saving features, making them highly desirable for urban dwellers. And International design trends, luxury brands, and design inspirations from around the world are now widely accessible to customers globally because to globalization and the internet.
The Global High End Design Furniture Market is expected to grow in the forecast period and register a market value of USD 101.4 billion in 2029 at a CAGR of 12.50% during the forecast period. The number of wealthy customers with more disposable money has increased as a result of economic expansion in many countries. Wealthy people and households are more likely to spend money on luxurious, high-end furnishings. Moreover, appreciation of design and aesthetics in interior decorating is widespread across all cultures. In order to create visually appealing living spaces, consumers place a premium on well-designed and aesthetically pleasing furniture.
With the rise of design-focused media, such as interior design blogs, magazines, and social media platforms, there has been increased exposure to creative and inspiring home decor ideas. This has fuelled the desire for unique and well-designed furniture pieces. Furthermore, as disposable incomes rise and the middle class expands, more people are able and willing to invest in high-quality and luxurious products for their homes. Furthermore, high-end design furniture is frequently made with extraordinary attention to detail, employing high-end materials and cutting-edge methods. Customers are prepared to spend money on furniture that offers improved comfort, toughness, and endurance.
As disposable incomes rise and more consumers enter the affluent category, there is typically a higher demand for luxury and high-end design furniture. People with greater financial resources are willing to invest in quality, aesthetically pleasing, and unique furniture pieces to enhance their living spaces. Moreover, as consumers have more disposable income, they are more likely to invest in high-quality, luxury furniture pieces that are designed to last for years. This trend has led to an increase in demand for high-end design furniture, as consumers are willing to pay a premium for unique and high-quality pieces that reflect their personal style and taste.
Affluent consumers often seek personalized and custom-made furniture to meet their specific preferences and interior design requirements. This trend can drive innovation in the high-end design furniture market, with brands offering bespoke and customizable options to cater to individual tastes. With increased demand for high-end furniture, manufacturers are under pressure to produce new and exciting designs that stand out from the competition.
The preferences of affluent consumers can influence design trends and aesthetics in the high-end furniture market. Designers may need to adapt to evolving tastes, incorporating elements that resonate with this target audience, such as unique materials, innovative designs, and exclusive collaborations.
Scope of the Report
- The report analyses the High End Design Furniture Market by Value (USD Billion).
- The report presents the analysis of High End Design Furniture Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
- The report analyses the High End Design Furniture Market By Type (Living and Bedroom, Kitchen, Bathroom, Lighting and Outdoor).
- The report analyses the High End Design Furniture Market By Distribution Channel (Multi Brand Retail, Monobrand Retail, Direct Sales and Online Sales).
- The report analyses the High End Design Furniture Market By Distribution Channel (Residential and Commercial).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include of are Roche Bobois SA, Hermes International SCA, Ralph Lauren Corporation, Poltrona Frau, Minotti SpA, B&B Italia SpA, Fendi Casa, Molteni SpA, Cassina SpA and Christopher Guy.
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|Estimated Market Value (USD) in 2024
|Forecasted Market Value (USD) by 2029
|Compound Annual Growth Rate
For more information about this report visit https://www.researchandmarkets.com/r/cxfaqd
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- Global High End Design Furniture Market