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The global luxury furniture market size is expected to reach $29,721.4 million by 2022, growing at a CAGR of 4.6% during the forecast period (2016?2022). Luxury furniture is commonly made up of different kinds of material such as metal, wood, glass, plastic, leathers and others (rattan, concrete, fabric, polyurethane, acrylic, fiber and stone). Wood holds the maximum market share, as wood is used majorly in the luxury furniture. Designing things on wood is easy, and is a natural and easily available raw material around the world. The market of wood furniture is expected to reach $6,735.0 million by 2022, growing at a CAGR of 3.8% during the forecast period.
The glass material market on the other hand would rapidly grow at a CAGR of 6.5% during the forecast period due to growing demand for attractive glass furniture products. Luxury furniture has been gaining prominence, as the furniture adds aesthetic value to the household or a commercial place. The use of luxury furniture in various setups has contributed to the growth of the luxury furniture market. Channing lifestyle in the urban population has driven the market for luxury furniture. Nevertheless, lack of skilled manpower is limiting the market growth significantly. The report highlights the adoption of Luxury Furniture, globally.
Based on Materials, the market is segmented into Metal, Wood, Plastic, Glass, Leathers, Others. Based on End User, the Luxury Furniture market is segmented into Residential and Commercial Market. According to the usage, the Residential market is segmented into Kitchen, Living & Bedroom, Bathroom, Outdoor, Lighting segments; the commercial market is segmented into Office, Hospitality and Others segment. The geographies included in the report are North America, Europe, Asia-Pacific, & LAMEA (Latin America, Middle East and Africa). For the better analysis, the geographies are segmented into countries.
Key Companies profiled in the report includes Kimberly- Clark Corporation, Unicharm, Bumkins, Svenska Cellulosa Aktiebolaget Company, Hengan, American Baby Company, Procter & Gamble Company (P&G), Kao Corporation.