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WOOD FURNITURE MARKET SIZE WILL REACH OVER USD 74 BILLION BY 2023, GROWING AT A CAGR OF AROUND 2% DURING 2017-2023
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WOOD FURNITURE MARKET REPORT SCOPE
| REPORT ATTRIBUTE | DETAILS |
|---|---|
| Market Size (Revenue) | USD 74 BILLION (2023) |
| CAGR | 2% (2017-2023) |
| Base Year | 2017 |
| Forecast Year | 2023 |
| Market Segments | By Product Types (Hardwood and Softwood), by End-users (Residential and Commercial), by Distribution Channels (Retail (Mass market player, Furniture stores and Monobrand furniture stores) and Online) |
| Geographic Analysis | APAC, Europe, North America, and ROW |
| Countries Covered | Canada, China, France, Germany, India, and US |
INDUSTRY INSIGHTS
The global wood furniture market research report provides detailed segmentation and market size of the market by wood furniture type (hardwood and Softwood) by distribution channels (retail, mass market players, furniture store, monobrand furniture stores, Online) by end-user (commercial and residential) by Geography (APAC, Europe, North America, and Rest of World)
The major leaders in this market are Ashley Furniture, IKEA, Laura Ashley, Duresta Upholstery, Giovanni Visentin, and Williams-Sonoma. Many players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC to gain more market share. North America to remain the dominant market and revenue share of APAC region will cross the revenue of Europe competing for the second position.
The global market is expected to witness growth during the forecast period in both residential and commercial end-user segment. Rise in number of people buying wood furniture can also be attributed to changing lifestyles that are backed by an increase in per capita GDP. The global wood furniture market is expected to cross $74 billion growing impressively at a CAGR more than 2.6% during 2016-2023.
The market research report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
WOOD FURNITURE MARKET: KEY VENDOR ANALYSIS
High competition and raw material acquisition costs will intensify the price war among the vendors
The major leaders in this market are Ashley Furniture, IKEA, Sears Holdings, Steelcase, and Williams-Sonoma. There are other vendors providing products with similar specifications at low prices. High competition and raw material acquisition costs will intensify the price war among vendors during the forecast period. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors.
Major vendors profiled in the report are Ashley Furniture , Duresta Upholstery , IKEA, Giovanni Visentin, Laura Ashley, Williams-Sonoma,
Other vendors include Amazon.com, Allied Trade Group, Costco, Godrej & Boyce, Herman Miller, HNI, J.C. Penny, Kimball International, Seers Holdings, Target Corporation, Tesco, Walmart, Wayfair.
WOOD FURNITURE MARKET: DYNAMICS
Advantages of wood furniture over traditional manufacturing to drive the growth
Rise in demand for luxury furniture, growth in real estate industry, and increased in millennials population are the top trends that are going to propel the market growth during the forecast period. Furthermore, ability of vendors to increase their marketing budgets and rapidly growing urban population will boost the market growth. Use of low cost furniture in APAC, preference of wood due to several features as compared to other materials, growth in small-sized houses, growth in tourism and hospitality industry are the key factors that are going to boost global wood furniture market.
WOOD FURNITURE MARKET: SEGMENTAL OVERVIEW
Residential Wood Furniture Market expected to be the major revenue contributor.
Hardwood is expected to continue to lead the global market during the forecast period as direct application of softwood has limited options. The softwood market segment is expected to post a healthy CAGR and grow at a fast pace during the forecast period 2016-2023.
High existing residential consumer base and promising growth in housing sector as a result of gain in consumer confidence is the reason that residential segment is the highest contributor to this market. The contribution from the commercial segment is also expected to rise as the working population increases as it would lead to the construction of new offices across the globe.
WOOD FURNITURE MARKET: GEOGRAPHICAL ANALYSIS
APAC region to overtake Europe and become second largest market after North America
In 2016, North America was the largest market followed by Europe. The region will continue to be the dominant market accounting for more than 37% revenue share. However, the growth in wood furniture revenue is expected to decline in North America and Europe due to market saturation and APAC is expected grow at the highest rate during the forecast period. Revenue from APAC and RoW is expected to grow at higher compounded annual growth rate as compared to that of the global market.
The wood market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Product Types
- Hardwood
- Softwood
End-users
- Residential
- Commercial
Distribution Channels
- Retail
- Mass market player
- Furniture stores
- Monobrand furniture stores
- Online
Major Geography
- APAC
- Europe
- North America
- RoW
Key Countries
- Canada
- China
- France
- Germany
- India
- US
SNAPSHOT
Global wood furniture market to exceed $ 74 billion by 2023.
Countries like US, UK, Germany, China, and Australia are the biggest markets for wood furniture. Growth in working population across the major markets in the world would lead to a rise in demand for wood furniture. Rise in awareness toward preservation of forests and rise in working population in major markets are the latest trends that is going to boost the wood furniture market growth.
Wood Furniture is referred to any movable objects made of wood that add to the comfort of living or working in residential and commercial spaces. Wood furniture is used in residential and commercial spaces to add to the comfort of individuals using the place. It also adds to the aesthetic value of the place which is why wood furniture is designed in various innovative looks to serve not only the purpose of relaxation but also enhance the ambience.
Wood Furniture Market Segmentation
Report Timeline
- Base Year: 2016
- Forecast Year: 2017–2023
Major vendors profiled in the report are as following:
- Ashley furniture
- Duresta Upholstery
- IKEA
- Giovanni Visentin
- Laura Ashley
- Williams-Sonoma
Other vendors include Amazon.com, Allied Trade Group, Costco, Godrej & Boyce, Herman Miller, HNI, J.C. Penny, Kimball International, Sears Holdings, Target Corporation, Tesco, Walmart, Wayfair.
Scope of the Report
The report includes a comprehensive study of market drivers, trends, and restraints of the global Wood Furniture market. It analysis the market segments in details and provides the revenue forecast for the period 2016-2022. Also, the report profiles the leading vendors in the market and other prominent vendors.
Sales of major Wood Furniture vendors were aggregated to arrive at an estimate of the market size in terms of volume. The same approach is used to calculate the market size in terms of revenue. An estimated 85–90% of vendors’ capacities are mapped and considered in the calculation.
The report provides the analysis of the key segments of the market by product, end-user, geography, and vendors. It provides a detailed analysis of revenue from various segments:
Product Types
- Hardwood
- Softwood
End-users
- Residential
- Commercial
Distribution Channels
- Retail
- Mass market player
- Furniture stores
- Monobrand furniture stores
- Online
Major Geography
- APAC
- Europe
- North America
- RoW
Key Countries
- Canada
- China
- France
- Germany
- India
- US
Frequently Asked Questions
What is the wood furniture market size and growth forecast?
What are the factors impacting the growth of the wood furniture market?
Who are the key players in the wood furniture market?
Which segment is contributing to the wood furniture market growth?
List of Exhibits
Exhibit 1 Segmentation of Wood Furniture Market
Exhibit 2 Types of Wood Furniture by Usage
Exhibit 3 Dual-income Households in US (1975 Vs. 2015)
Exhibit 4 Global Travel and Tourism Industry by Revenue ($ trillion)
Exhibit 5 Increasing Influence of Internet in Buyers’s Preference
Exhibit 6 Contribution of Mobile Internet and IoT in GDP Growth in APAC by 2025
Exhibit 7 Global Urban and Rural Human Population (million)
Exhibit 8 Working Population in Major Countries of Wood Furniture Market (in million)
Exhibit 9 CAGR of Working Population in Major Countries
Exhibit 10 Global Wood Furniture Market ($ billion)
Exhibit 11 Five Forces Analysis
Exhibit 12 Global Wood Furniture Market by Product ($ billion)
Exhibit 13 Global Wood Furniture Market by Product (revenue share)
Exhibit 14 Global Hardwood Market ($ billion)
Exhibit 15 Global Softwood Market ($ billion)
Exhibit 16 Comparison of Annual Growth Rates by Product
Exhibit 17 Comparison of CAGR by Product 2016−2023
Exhibit 18 Global Wood Furniture Market by End-users ($ billion)
Exhibit 19 Global Wood Furniture Market by End-users (revenue share)
Exhibit 20 Global Wood Furniture Market by Residential Segment ($ billion)
Exhibit 21 Global Wood Furniture Market by Commercial Segment ($ billion)
Exhibit 22 Comparison of Annual Growth Rate by End-users
Exhibit 23 Comparison of CAGR by End-users 2016−2023
Exhibit 24 Global Wood Furniture Market by Geography 2016 and 2023 (Market Share)
Exhibit 25 Global Wood Furniture Market by Geography ($ billion)
Exhibit 26 Global Wood Furniture Market by Geography (Revenue share)
Exhibit 27 Comparison of Annual Growth Rates by Geography
Exhibit 28 Comparison of CAGR by Geography 2016−2023
Exhibit 29 Global Wood Furniture Market by Key Countries ($ billion)
Exhibit 30 Global Wood Furniture Market by Key Countries (Revenue share)
Exhibit 31 Comparison of Annual Growth Rates by Key Countries
Exhibit 32 Comparison of CAGR by Key Countries 2016−2023
Exhibit 33 Wood Furniture Market in North America ($ billion)
Exhibit 34 Annual Saving Ratio of US
Exhibit 35 Change in US GDP Growth Rate
Exhibit 36 Wood Furniture Market in North America by Key Countries (regional revenue share)
Exhibit 37 Wood Furniture Market in US ($ billion)
Exhibit 38 Wood Furniture Market in Canada ($ billion)
Exhibit 39 Wood Furniture Market in Europe ($ billion)
Exhibit 40 Changes in Per Capita Disposable Income in EU Countries
Exhibit 41 Change in Annual Household Disposable Income in Europe (%)
Exhibit 42 Annual Saving Ratio of Western European Countries
Exhibit 43 Wood Furniture Market in Europe by Key Countries (regional revenue share)
Exhibit 44 Wood Furniture Market in Europe by Key Countries (global revenue share)
Exhibit 45 Wood Furniture Market in Germany ($ billion)
Exhibit 46 Wood Furniture Market in France ($ billion)
Exhibit 47 Wood Furniture Market in APAC ($ billion)
Exhibit 48 Gross Domestic Savings of China, India, and South Korea (percentage of income)
Exhibit 49 Increase in Urban Population in APAC (Overall Population %)
Exhibit 50 Wood Furniture Market in APAC by Key Countries (regional revenue share)
Exhibit 51 Wood Furniture Market in APAC by Key Countries (global revenue share)
Exhibit 52 Wood Furniture Market in China ($ billion)
Exhibit 53 Wood Furniture Market in India ($ billion)
Exhibit 54 Wood Furniture Market in RoW ($ billion)
List of Tables
Table 1 Key Geographies Definition
Table 2 Key Caveats
Table 3 Currency Conversion Rate
Table 4 Real GDP per Capita Growth in Various Developing Countries 2013–2015
Table 5 Digitization Plans of Select Countries in APAC
Table 6 YOY Impact of Market Growth Enablers
Table 7 Impact of Market Growth Enablers on Geographies
Table 8 YOY Impact of Market Restraints
Table 9 Impact of Market Restraints on Geographies
Table 10 YOY Impact of Market Trends & Opportunities
Table 11 Impact of Market Trends & Opportunities on Geographies
Table 12 Qualitative Summary of Global Wood Furniture Market
Table 13 Quantitative Summary of Global Wood Furniture Market by Geography ($ billion)
Table 14 Quantitative Summary of Global Wood Furniture Market by Geography ($ billion)
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by End-User
4.3.2 Market Segmentation by Product
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Currency Conversion rate
6 Market at A Glance
7 Introduction
7.1 Segmentation by Product
7.1.1 Hardwood
7.1.2 Softwood
7.2 Segmentation by End-users
7.2.1 Residential Segment
7.2.2 Commercial Segment
7.3 Macroeconomic Factors Driving Market Growth
7.3.1 Per Capita GDP in Developing Markets
7.3.2 Dual-income Households in Developed Markets
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Exceptional Features of Wood Furniture Making Popular Choice
8.1.2 Low-cost Furniture in APAC
8.1.3 Growth in Small-sized Houses
8.1.4 Growth in Tourism and Hospitality Industry
8.1.5 Change in Purchasing Behavior of Customers in Developed and Developing Countries
8.1.6 Increased Push for Digital Economy in Developing Economies
8.2 Impact of Market Growth Enablers
8.3 Impact of Market Growth Enablers on Geographies
8.4 Market Restraint
8.4.1 Complex Supply Chain Operations
8.4.2 Highly Fragmented Market
8.4.3 Limitations Related to Skilled Labor
8.4.4 Variation in Preferences across Geographies
8.4.5 Rise in Raw Material Acquisition Costs for Vendors
8.5 Impact of Market Restraints
8.6 Impact of Market Restraints on Geographies
8.7 Market Opportunities & Trends
8.7.1 Rise in Demand for Luxury Furniture
8.7.2 Growth in Real Estate Industry
8.7.3 Millennials Expected to Drive Market Growth
8.7.4 Ability of Vendors to Increase their Marketing Budgets
8.7.5 Rise in Urban Population
8.7.6 Increase in Working Population in Major Markets
8.7.7 Rise in Awareness toward Forest Preservation
8.8 Impact of Market Trends & Opportunities
8.9 Impact of Market Trends & Opportunities on Geographies
9 Global Wood Furniture Market
9.1 Market Overview
9.1.1 Market Size & Forecast
9.2 Porter’s Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry
10 Wood Furniture Market- By Product
10.1 Market Overview
11 Wood Furniture Market- By End-Users
11.1 Market Overview
12 Wood furniture Market – By Geography
12.1 Market Overview
13 North America: Wood Furniture Market
13.1 Market Size & Forecast
13.2 Leading Trend, ENABLERS and Restraint
13.3 Key Countries
13.4 US
13.4.1 Market Size & Forecast
13.4.2 Leading Trend, Enablers, and Restraint
13.5 Canada
13.5.1 Market Size & Forecast
13.5.2 Leading Trend, Enablers, and Restraint
14 Europe: Wood Furniture Market
14.1 Market Size & Forecast
14.2 Leading Trend, Driver, and Restraint
14.3 Key Countries
14.4 Germany
14.4.1 Leading Trend, Enablers, and Restraint
14.5 France
14.5.1 Leading Trend, Enablers, and Restraint
15 APAC: Wood Furniture Market
15.1 Market Size & Forecast
15.1.1 Leading Trend, Enablers, and Restraint
15.2 Key Countries
15.3 China
15.3.1 Leading Trend, Enablers, and Restraint
15.4 India
15.4.1 Leading Trend, Enablers, and Restraint
16 RoW: Wood Furniture Market
16.1 Market Size & Forecast
16.2 Leading Trend, Enablers, and Restraint
17 Competitive Landscape
17.1 Competition overview
18 Key Company Profiles
18.1 Ashley Furniture Industries Inc.
18.1.1 Business Overview
18.1.2 Product Offerings
18.1.3 Strategy
18.1.4 Strength
18.2 Duresta Upholstery Ltd.
18.2.1 Business Overview
18.2.2 Product Offerings
18.2.3 Strategy
18.2.4 Strength
18.3 IKEA Group
18.3.1 Business Overview
18.3.2 Product Offerings
18.3.3 Strategy
18.3.4 Strength
18.4 Giovanni Visentin S.R.L
18.4.1 Business Overview
18.4.2 Product Offerings
18.4.3 Strategy
18.4.4 Strength
18.5 Laura Ashley PLC
18.5.1 Business Overview
18.5.2 Product Offerings
18.5.3 Strategy
18.5.4 Strength
18.6 Williams-Sonoma Inc.
18.6.1 Business Overview
18.6.2 Product Offerings
18.6.3 Strategy
18.6.4 Strength
19 Other Prominent Companies
19.1 Amazon.com Inc.
19.1.1 Business Overview
19.1.2 Product Offerings
19.2 Allied Trade Group Inc.
19.2.1 Business Overview
19.2.2 Product Offerings
19.3 Costco Wholesale Corp.
19.3.1 Business Overview
19.3.2 Product Offerings
19.4 Godrej & Boyce Manufacturing Company Ltd.
19.4.1 Business Overview
19.4.2 Product Offerings
19.5 Herman Miller Inc.
19.5.1 Business Overview
19.5.2 Product Offerings
19.6 HNI Corp.
19.6.1 Business Overview
19.6.2 Product Offerings
19.7 J.C. Penny Company Inc.
19.7.1 Business Overview
19.7.2 Product Offerings
19.8 Kimball International Inc.
19.8.1 Business Overview
19.8.2 Product Offerings
19.9 Sears Holdings Corp.
19.9.1 Business Overview
19.9.2 Product Offerings
19.1 Steelcase Inc.
19.10.1 Business Overview
19.10.2 Product Offerings
19.11 Target Corp.
19.11.1 Business Overview
19.11.2 Product Offerings
19.12 Tesco PLC
19.12.1 Business Overview
19.12.2 Product Offerings
19.13 Walmart Stores Inc.
19.13.1 Business Overview
19.13.2 Product Offerings
19.14 Wayfair Inc.
19.14.1 Business Overview
19.14.2 Product Offerings
20 Report Summary
20.1 Key Takeaways
20.2 Strategic Recommendations
20.3 Qualitative Summary of Global Wood Furniture Market
20.5 Quantitative Summary of Global Wood Market 2016-2022
21 Appendix
21.1 List of Abbreviations
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Frequently Asked Questions
What is the wood furniture market size and growth forecast?
What are the factors impacting the growth of the wood furniture market?
Who are the key players in the wood furniture market?
Which segment is contributing to the wood furniture market growth?
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