Wooden Household Furniture Global Market Report 2023

“Wooden Household Furniture Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on wooden household furniture market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for wooden household furniture? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The wooden household furniture market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Chairs; Tables; Cabinets; Other Products
• 2) By Wood Type: Hardwood; Softwood
• 3) By Material: Plywood; Laminates; Medium-Density Fiberboard (MDF); Other Materials
• 4) By Distribution Channel: Online; Offline
• 5) By Application: Residential; Commercial
• Companies Mentioned: Inter IKEA Systems B.V.; Godrej Interio; Herman Miller Inc.; Steelcase Inc.; HNI Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major companies in the the wooden household furniture market are: Inter IKEA Systems B.V., Godrej Interio, Herman Miller Inc., Steelcase Inc., HNI Corporation, Okamura Corp., Durian Industries Limited, Spacewood, Greenply Industries Limited, Haworth Inc., Knoll Inc., Kimball International Inc., Ashley Furniture Industries, NITORI Co. Ltd., Dalian Huafeng Furniture Group Co. Ltd., Dorel Industries Inc., Sauder Woodworking Company, Suofeiya Home Collection Co. Ltd, La-Z-Boy Inc., Hooker Furnishings, Natuzzi Group, Kinnarps AB, Klaussner Furniture Industries, and Samson Holding Ltd.

The global wooden household furniture market is expected to grow from $153.77 billion in 2022 to $160.18 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wooden household furniture market is expected to reach $188.26 billion in 2027 at a CAGR of 4.1%.

The wooden household furniture market consists of sales of maple wood furniture, oak wood furniture, solid wood furniture, cedar wood furniture, and plywood furniture. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Wooden household furniture refers to furniture items that are made primarily or entirely from wood and are intended for use in a home or domestic setting, including sofas, shutters, tables, chairs, and bath and vanity cabinets.

Asia-Pacific was the largest region in the wooden household furniture market in 2022. The regions covered in wooden household furniture report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main products of wooden household furniture are chairs, tables, cabinets and others. Chairs are seats, particularly for one person, that typically have four legs for support, a backrest, and often armrests. The various kinds of wood involved are hardwood and softwood which consists of plywood, laminates, medium-density fiberboard (MDF), and others. These are distributed through online and offline distribution channels for residential and commercial applications.

The rising demand from the residential sector is expected to propel the growth of the wooden household furniture market going forward. The increasing global population and urbanization are leading to the construction of more residential buildings and homes, which in turn is driving up the demand for furniture. Wooden household furniture is a popular choice among homeowners due to its durability, versatility, and aesthetic appeal. For instance, in December 2022, according to a report shared by iProperty Management Com LLC., a US-based real estate management company, in the US, there were 1.60 million new home starts in 2021, a 16.0% increase from 2020, and 70.4% of the new housing was single-family homes. Furthermore, the beginnings of new homes grew by 6.9% between 2019 and 2020. And global real estate reached $326.5 trillion in 2020. Therefore, the rise in demand from the residential sector is driving the growth of the wooden household furniture market.

Product innovation is a key trend gaining popularity in the wooden household furniture market. Many customers are seeking wooden furniture built utilizing ecologically friendly production techniques and materials from sustainably derived sources as environmental concerns continue to rise. As a result, major companies operating in the market focus on developing sustainable and eco-friendly wooden furniture. For example, in January 2022, Silk & Snow, a Canada-based bedding company, launched a sustainable furniture line for bedrooms. This collection is handcrafted using organic and non-toxic ingredients and is constructed using a simple, tool-free method of Japanese joinery.

In August 2021, Trademark Global LLC., a US-based company that provides a wide selection of high-quality, company-branded and licensed products to top online retailers, acquired Bolton Furniture Inc. for an undisclosed amount. With this acquisition, Trademark Global Inc. hopes to broaden the scope of its services by taking advantage of Bolton's distinctive supplier network and research and development resources. Bolton Furniture Inc. is a US-based home furniture company.

The countries covered in the wooden household furniture market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The wooden household furniture market research report is one of a series of new reports from The Business Research Company that provides wooden household furniture market statistics, including wooden household furniture industry global market size, regional shares, competitors with wooden household furniture market share, detailed wooden household furniture market segments, market trends, and opportunities, and any further data you may need to thrive in the wooden household furniture industry. This wooden household furniture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.