Luxury Furniture Market – 35% of Growth to Originate from Europe |Driven by Increasing Number of New Luxury Furniture Showroom launches

NEW YORK, May 24, 2022 /PRNewswire/ — The luxury furniture market size is expected to grow by USD 7 billion from 2020 to 2025, progressing at a CAGR of 5% as per the latest market research report by Technavio. The key factor driving the luxury furniture market is the increasing number of new luxury furniture showroom launches. The growth of the global luxury furniture market is being invigorated by the frequent launch of products and showrooms globally. Major and regional players have been assessing the growth opportunities in the luxury furniture category in various parts of the world. With an aim to efficiently tap into the enormous growth potential of this market, new showrooms of luxury furniture are being launched globally to attract more customers. In February 2019, the Natuzzi Spa. opened its new store in Istanbul within the Home Design Center. In March 2020, the Reflex Spa. opened its showroom in Brussel. In April 2019, the Reflex Spa. opened its showroom in Milan, Italy. In July 2019, the Club House Italia Spa launched The Residence, U.S. Showhouse, designed exclusively by Design Force Miami in collaboration with Orlean, Emilio Robba, and Opera Gallery. In March 2020, the Club House Italia Spa launched the Outdoor Collection, in collaboration with Orlean & Storia Flooring Luxury Living Group.

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The competitive scenario provided in the Luxury Furniture Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Luxury Furniture Market Forecast Report –  Buy Now!

Luxury Furniture Market: Geographic Landscape

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35% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and Italy are the key markets for luxury furniture in Europe. Market growth in this region will be faster than the growth of the market in the MEA and South America regions. The increasing number of single-occupancy households will facilitate the luxury furniture market growth in Europe over the forecast period.

Luxury Furniture Market: Distribution Channel Landscape

The luxury furniture market share growth in the offline channel will be significant for revenue generation. Offline distribution channels include the sale of luxury furniture market through various offline media such as specialty furniture stores, department stores, discount stores, hypermarkets, supermarkets, warehouse clubs, manufacturer-branded stores, and designer stores. The offline distribution channel is the most preferred means for the distribution of luxury furniture items by vendors, manufacturers, and distributors operating in the global luxury furniture market, the major factor being the tangential factor associated with the offline distribution of luxury furniture.

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Companies Covered:

The luxury furniture market is fragmented and the vendors are deploying growth strategies such as strategic collaborations, M&A, and partnerships to expand their R&D activities, gain access to advanced technologies, and establish a distribution network for successful product commercialization to compete in the market.

• Club House Italia S.p.A

• Giorgio Armani Spa

• Herman Miller Inc.

• Minotti S.p.A.

• MUEBLES PICO SA

• Natuzzi SpA

• Opera Contemporary

• Reflex S.p.a.

• Rugiano srl

• Vaughan Bassett

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What our reports offer:

• Market share assessments for the regional and country-level segments

• Strategic recommendations for the new entrants

• Covers market data for 2020, 2021, and 2025

• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

• Strategic recommendations in key business segments based on the market estimations

• Competitive landscaping mapping the key common trends

• Company profiling with detailed strategies, financials, and recent developments

• Supply chain trends mapping the latest technological advancements

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Table of Content

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Market Segmentation by Distribution channel

7 Customer landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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SOURCE Technavio