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Luxury Furniture Market Size, Status, Latest Trends and Competitor Insights 2022-228
[Market Insights Report Press Release] A study has been conducted to get an overview of the luxury furniture market from 2016 to 2022.
Luxury furniture is basically used to add aesthetic beauty to interior design or for high standard interiors. The growing trend toward a luxurious and comfortable relaxation experience has increased the demand for high-end furnishings for use in homes and commercial establishments. Rising popularity of luxury indoor furniture such as bedrooms, bathrooms, and kitchens is likely to boost sales of fine furniture in the domestic segment. Rising demand from the real estate industry and increasing urban population in various emerging countries around the world are some of the major factors contributing to the growth and progress of the global luxury furniture industry. Purpose of the survey:
The purpose of this study is to analyze the global luxury furniture market through a series of questionnaires to find answers to business questions such as:
At what price do people typically buy products for retail?
What are consumer preferences in the Luxury Furniture industry segment? What are the top major manufacturers operating in the luxury furniture industry? What types of materials are in high demand for fine furniture? Research overview:
Survey period: March 25, 2022 to August 1, 2022
Research Contractor: Market Insights Reports
Target: 500 key thought leaders and end users of businesses and customers. We conducted a survey asking a variety of questions about end-use technology and pricing.
Number of valid responses: (500)
Survey method: 100 telephone surveys, 400 internet surveys
Survey target: Sales companies, end-users of high-end furniture. Some of the questions we asked respondents:
What are the types of luxury furniture?
Answer: According to research, pet food is classified as indoor furniture (50%) and outdoor furniture (50%). Indoor Luxury Furniture is portable furniture that expresses the highest elite quality and design associated with a particular era. Outdoor furniture is primarily used to bring comfort and enjoyment to balcony spaces and is designed to withstand hot, cold and rainy weather conditions. [Image 1
What are the types of materials for luxury furniture?
Answer: After research we found it available in the form of wood (30%), melamine (25%), glass (15%), steel (20%), finishing foil (10%) and laminate (15%). rice field. %). These types of furniture give a sophisticated look to any interior and are expected to boost revenue growth in this segment. Its attractive antiques make it popular for commercial use in offices and other hospitality sectors.
What are the main channels for buying fine furniture?
Answer: This was an important question because we wanted to understand how people purchased fine furniture. Various channels such as company-owned websites (20%), e-commerce websites (35%), specialty stores (20%), supermarkets/hypermarkets (15%), independent furniture retailers (20%) classified as Offline channels are widely used by customers encouraged by the specified requirements and product quality.
Some of the findings:
During our research, we found that technological innovation and the use of eco-friendly materials could increase the demand for smart tables.
Due to their superior aesthetic value and durability, fine furniture made of wood and metal is becoming more and more popular among consumers.
The development of eco-friendly multi-purpose luxury furniture is also driving industrial expansion in developed countries.
Another key finding is that it is the rise in commercial space and disposable income that will drive the global luxury furniture industry.
Other key conclusions and points from the report:
Our research shows that as technology advances, furniture designers are becoming more innovative and creative in their designs. In addition, customers want to reduce adverse health effects, so low toxicity is a priority when purchasing eco-friendly furniture. Luxury furniture manufacturers are looking for materials that are strong, durable and long-lasting. Wood sources for fine furniture are beginning to include mahogany, jackfruit and teak. Luxury furniture is making a comeback for residential use as so many builders and professional home decorators use it to increase the value of their homes.
MarketInsightsReports provides syndicated market research on verticals such as Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry and more. Includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
If you would like more information about the study and would like to speak with an analyst, please send an email to:
Irfan Tamboli (Head of Sales) – Market Insights Report
Phone: +1704 266 3234 | +91-750-707-8687
Details about this release: