Global Luxury Furniture Market to Register a CAGR of 4.39% Between 2019 and 2025

Publisher: QYResearch
Published Date: 2019/8/1

The demand for luxury furniture is expected to rise steadily in the coming years due to growing disposable incomes. Improving economies are expected to be the key factors influencing the global market for luxury furniture. Growing focus of urban population towards aesthetic needs has also created a positive impact on the market. Thus, in many ways, the expansion of the luxury furniture market also depends on the rapid pace of urbanization. Analysts project that the shifting trend of upcycling furniture is likely to lure in more consumers as it works towards reducing carbon footprint.

Emergence of e-commerce, which enabling several consumers to shop at their convenience has also fueled the global luxury furniture market. In addition, a wide variety of items is also creating a demand in the market. Ability to shop for luxury furniture through installments instead of a hefty one-time payment is also projected to aid market growth in the coming few years.

According to the research report, the global luxury furniture market was valued at US$37363 mn in 2018 and is expected to reach US$50456 mn by the end of 2025. Through the forecast years of 2019 and 2025, the overall market is expected to surge steadily at CAGR of 4.39%.

Click to view the full report:
https://www.qyresearch.com/index/detail/1220713/global-luxury-furniture-market
This article was first released by QYResearch, if reproduced, please indicate the source.
Telephone number:020-22093278
Contact:press@qyresearch.com
When contacting, please refer to QYR company's Mia introduction.