Market Research Report
Canada Home Furniture Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||965240|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Canada Home Furniture Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 150 Pages||
Canada home furniture market is expected to witness strong growth in the forecast period mainly driven by improvement in construction activity in the housing sector in many parts of Canada as the majority of the furniture purchases are driven by consumers moving to new homes.
The Canadian furniture industry is one of the top ten producers of furniture in the world and the country has long-established expertise in furniture manufacturing. Canada is also one of the leading markets in the international furniture industry since it is a big and open market and a large producer. However, in recent years due to the rapid growth of imports and the decline in exports, Canada has turned into a net importer of furniture products with China being one of the biggest exporters of home furniture to the country.
There is a rising trend for compact and multipurpose furniture as well as millennial consumers are demanding furniture made from eco-friendly materials.
Living Room and Dining Room Segment Accounts For Highest Share
Due to the improved housing activity and rising expenditure on home furniture products, Canada is witnessing strong growth in the sales of furniture products. The market is consumer-oriented, with household sales for bedroom, living room, and dining room furniture accounting for the majority share, followed by expenditure on other furniture categories. Canadians value durability and long-lasting pieces, due to which there is an increasing demand for high-end furniture, particularly in the design centers of Toronto and Montreal. Wooden products are majorly preferred for living and dining room furniture in the country.
Wooden Furniture Products are Widely Preferred in Canadian Households
Canada has expertise in manufacturing solid wood furniture and some of the specially produced products include wood kitchen cabinets. Wood is one of the most widely used raw materials for furniture production accounting for over 30% of materials used in furniture manufacturing. Canadian Wood species like Western Hemlock, Western Red Cedar, Douglas Fir, and Spruce-Pine-Fir offer immense versatility, high durability, and workability- qualities that are essential for producing high-quality furniture which is suitable for household furniture products.
The Canadian home furniture market is highly fragmented and consists mainly of small or medium-sized family-owned and operated firms. The Canadian furniture industry often finds it difficult to compete with other countries. due to high transportation and labor costs compared with other competing countries. However, in order to meet the global competition, the players are building larger production capacity and focusing on achieving economies of scale.