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Luxury Furniture Market Report and Forecast 2024-2032

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    Report

  • 171 Pages
  • July 2024
  • Region: Global
  • Expert Market Research
  • ID: 5990213
According to the report, the global luxury furniture market size reached a value of around USD 25.32 billion in 2023. Aided by the increasing demand for high-end, aesthetically pleasing, and durable furniture pieces and the growing applications of luxury furniture in residential and commercial spaces, the market is projected to grow at a CAGR of 5.3% between 2024 and 2032 to reach a value of around USD 40.33 billion by 2032.

Luxury furniture is characterised by its high quality, superior craftsmanship, and unique designs, often made from premium materials such as hardwood, leather, and metal. These pieces are not only functional but also serve as a statement of elegance and opulence, making them a preferred choice for consumers looking to enhance their living spaces with sophisticated and timeless aesthetics.

The increasing consumer preference for high-end, durable, and stylish furniture is driving the global luxury furniture market growth. With the growing disposable incomes and the rising trend of home renovation and interior decoration, there has been a significant surge in demand for luxury furniture pieces that offer both functionality and aesthetics. Additionally, the rapid urbanisation and the rising number of residential and commercial projects have further contributed to the increasing popularity of luxury furniture.

The expanding applications of luxury furniture in various sectors also play a significant role in propelling the market. As per the luxury furniture market analysis, in the residential sector, luxury furniture is used to enhance the aesthetic appeal and functionality of living spaces, including bedrooms, living rooms, and dining areas. The commercial sector, including hotels, restaurants, and offices, utilises luxury furniture to create a luxurious and comfortable environment for its clients and employees.

Moreover, the growing trend of online shopping and the increasing presence of luxury furniture brands on e-commerce platforms have made it easier for consumers to access and purchase high-end furniture pieces. The luxury furniture market outlook suggests that consumers are increasingly exploring a wide range of luxury furniture options from the comfort of their homes.

The market has witnessed several key developments that have significantly influenced its growth. The increasing focus on sustainable and eco-friendly furniture has led to the development of luxury furniture pieces made from recycled and environmentally friendly materials. This trend has gained traction among consumers who are increasingly conscious of their environmental impact and prefer sustainable and eco-friendly products.

The growing popularity of customisation and personalised furniture has contributed to the luxury furniture market development. Consumers are now looking for unique and bespoke furniture pieces that reflect their personal style and preferences. This has led to an increased demand for customised luxury furniture, allowing manufacturers to cater to the specific needs and preferences of their clients.

The North America market is driven by the increasing demand for high-end furniture pieces in the United States and Canada. The growing trend of home renovation and interior decoration, coupled with rising disposable incomes, has significantly contributed to the market growth in this region. Moreover, rising efforts by manufacturers to develop durable and high-end furniture aid the luxury furniture market expansion. The Asia Pacific is expected to witness substantial growth, driven by rapid urbanisation and the increasing number of residential and commercial projects in countries such as China, India, and Japan
Europe is a significant market for luxury furniture, with countries such as Italy, Germany, and France leading the demand. The presence of renowned luxury furniture brands and the strong emphasis on quality and craftsmanship have driven the growth of the luxury furniture market in this region.

Market Segmentation

The market can be divided based on material, end-use, distribution channel, and region.

Market Breakup by Material

  • Metal
  • Wood
  • Plastic
  • Glass
  • Others

Market Breakup by End-Use

  • Domestic Use
  • Commercial Use

Market Breakup by Distribution Channel

  • Online
  • Offline

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global luxury furniture market. Some of the major players explored in the report are as follows:
  • Duresta Upholstery Ltd.
  • Muebles Pico SA
  • Valderamobili (S.R.L.)
  • Giovanni Visentin Srl
  • Modloft
  • Laura Ashley Holding plc
  • ROSET SAS
  • Nella Vetrina
  • Turri srl
  • Koket
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Luxury Furniture Market Analysis
8.1 Key Industry Highlights
8.2 Global Luxury Furniture Historical Market (2018-2023)
8.3 Global Luxury Furniture Market Forecast (2024-2032)
8.4 Global Luxury Furniture Market by Material
8.4.1 Metal
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Wood
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Plastic
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Glass
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Luxury Furniture Market by End-Use
8.5.1 Domestic Use
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial Use
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Luxury Furniture Market by Distribution Channel
8.6.1 Online
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Offline
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
9 Global Luxury Furniture Market by Region
9.1.1 North America
9.1.1.1 Historical Trend (2018-2023)
9.1.1.2 Forecast Trend (2024-2032)
9.1.2 Europe
9.1.2.1 Historical Trend (2018-2023)
9.1.2.2 Forecast Trend (2024-2032)
9.1.3 Asia Pacific
9.1.3.1 Historical Trend (2018-2023)
9.1.3.2 Forecast Trend (2024-2032)
9.1.4 Latin America
9.1.4.1 Historical Trend (2018-2023)
9.1.4.2 Forecast Trend (2024-2032)
9.1.5 Middle East and Africa
9.1.5.1 Historical Trend (2018-2023)
9.1.5.2 Forecast Trend (2024-2032)
10 North America Luxury Furniture Market Analysis
10.1 United States of America
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Canada
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Europe Luxury Furniture Market Analysis
11.1 United Kingdom
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Germany
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 France
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Italy
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Asia Pacific Luxury Furniture Market Analysis
12.1 China
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Japan
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 India
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 ASEAN
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Latin America Luxury Furniture Market Analysis
13.1 Brazil
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Argentina
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mexico
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Middle East and Africa Luxury Furniture Market Analysis
14.1 Saudi Arabia
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 United Arab Emirates
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Nigeria
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South Africa
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Duresta Upholstery Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Muebles Pico SA
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Valderamobili (S.R.L.)
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Giovanni Visentin Srl
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Modloft
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Laura Ashley Holding plc
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 ROSET SAS
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Nella Vetrina
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Turri srl
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Koket
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Luxury Furniture Market: Key Industry Highlights, 2018 and 2032
2. Global Luxury Furniture Historical Market: Breakup by Material (USD Billion), 2018-2023
3. Global Luxury Furniture Market Forecast: Breakup by Material (USD Billion), 2024-2032
4. Global Luxury Furniture Historical Market: Breakup by End-Use (USD Billion), 2018-2023
5. Global Luxury Furniture Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
6. Global Luxury Furniture Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Luxury Furniture Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Luxury Furniture Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Luxury Furniture Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Luxury Furniture Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Luxury Furniture Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Luxury Furniture Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Luxury Furniture Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Luxury Furniture Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Luxury Furniture Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Luxury Furniture Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Luxury Furniture Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Luxury Furniture Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Luxury Furniture Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Luxury Furniture Market Structure

Companies Mentioned

  • Duresta Upholstery Ltd.
  • Muebles Pico SA
  • Valderamobili (S.R.L.)
  • Giovanni Visentin Srl
  • Modloft
  • Laura Ashley Holding plc
  • ROSET SAS
  • Nella Vetrina
  • Turri srl
  • Koket

Methodology

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Table Information