Luxury Furniture Market is Expected to Grow at a CAGR of Over 4% Luxury Furniture Market 2015-2019

Luxury Furniture Market is Expected to Grow at a CAGR of over
4% during the period of 2015-2019: Radiant Insights, Inc
Global luxury furniture: Market outlook
With change in lifestyle and growth in the economy, people are constantly enhancing their living and
work environment, hence the adoption of products such as luxury furniture is on the rise. Luxury furniture
is undergoing rapid modifications, wherein vendors are coming up with various striking new designs and
collaborating with interior designers to increase their visibility to capture high customer base.
According to Technavio analysts, the global luxury furniture market is expected to grow at a CAGR of
over 4% during the forecast period. In terms of geography, Europe represented the largest market for
luxury furniture. The market in developed countries is growing at a moderate rate, however, the growth in
developing countries such as China and India has been significantly high and promising. One major trend
motivating the market growth is the advent of eco-friendly furniture, which is driven by the growing
environmental concerns that have driven the furniture vendors to go green.
View summary of this report @ http://www.radiantinsights.com/research/global-luxury-furnituremarket-2015-2019
Segmentation of the global luxury furniture market by application
• Domestic
• Commercial
The rise in domestic real estate industry and growing number of high net worth individual's (HNWI) and
ultra high net worth individual's (UHNWI) population globally, has led to the growth of domestic
segment with a market share of nearly 72% as of 2014. During the forecast period, domestic segment will
continue to grow at a fast pace and retain its lead in the market.
Segmentation of the global luxury furniture market by retail format
• Monobrands
• Furniture retailer
• Departmental stores
• Online retailing
With a contribution of almost 50%, monobrand stores dominated the global luxury furniture market. The
international appearance and touch of these spacious stores attracts the target consumers by projecting a
fitting brand image. Some of the top vendors operating in this segment are Duresta Upholstery, Giovanni
Visentin, and Laura Ashley.