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The demand for luxury furniture in the domestic and commercial segment has been unprecedented. Substantial growth in the per capita income is the prime reason behind the unprecedented growth in the luxury furniture market. The rapidly growing urban population is adding to the demand for luxury furniture. Furniture made up of glass material is gaining province over other kinds of materials, due to their elegance and eye catching designs. Wood Furniturer 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 $2,145.4 million by 2022, growing at a CAGR of 3.0% during the forecast period. The glass material market on the other hand would rapidly grow at a CAGR of 5.6% during the forecast period due to growing demand for attractive glass furniture products. The living and bedroom segment is expected to generate revenue of $2,800.7 million by 2022, growing at a CAGR of 3.3% during the forecasted period. The lighting market segment would grow rapidly during the forecast period, registering a CAGR of 8.0%.
The report highlights the adoption of Luxury Furniture in North America. 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 countries included in the report are U.S, Canada, Mexico and Rest of North America.
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.