ASIA-PACIFIC HOME FURNITURE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product, by Distribution Channel, and by Country.

Market Snapshot

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Study Period: 2016 - 2026
Base Year: 2020
CAGR:

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Market Overview

Asia Pacific’s strong housing market and rising demand for home improvement products are driven by population growth, rapid urbanization, and a rising number of single-person households and nuclear families.

  • The healthy macroeconomic outlook in emerging Asian countries, shifting demographics and rising consumer affluence are expected to reign supreme in home improvement demand. Innovation, retailing excellence, and pricing tailored to target consumer segments may be imperative to brand growth.
  • The growth in home furnishings is driven by product innovation, segmentation, and digital strategies.
  • Nowadays, every customer prefers and relies on online retail platforms for buying furniture, due to the availability of a wide array of home furnishings products at affordable price. Improving lifestyle and increasing disposable income are the key factors affecting the home furnishings market in Asia-Pacific.

Scope of the Report

A complete background analysis of the Asia-Pacfic home furniture market, which includes an assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and logistics spending by the end-user industries, is covered in the report.

By Product
Living-Room and Dining-Room Furniture
Bedroom Furniture
Kitchen Furniture
Lamps and Lighting Furniture
Plastic and Other Furniture
By Distribution Channel
Departmental Stores
Independent Furniture Retailers
Factory Outlets
Online
Others
By Country
Japan
India
China
Others

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Key Market Trends

Kitchen Furniture Segment

Kitchen furniture includes fitted kitchen units, as well as other wooden furniture used for preparing food or for food storage. The segement growth is driven by surging urbanization and remodeling in residential kitchens. Kitchen furniture is gaining momentum in investments with a consistent growth in the hotel industry, which, in turn, thrives on rising in travel and tourism.

Moreover, the developed regions with a high percentage of the population living in urban areas have been the primary consumers for kitchen furniture and fixtures, which may present the market with huge growth opportunity and potential in the near future. 

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Bedroom Furniture Segment

A key driver fueling the growth of the market is the rising standard of living, which is leading to the increased introduction of premium products. Both developed and developing countries are witnessing growth in the population of high net-worth individuals, and a gradual increase in the preference for a luxurious lifestyle. With an increase in disposable income, the consumers spending capacity and their expenditure on luxury goods and services are increasing.

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Competitive Landscape

The report covers major international players operating in the market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. The leading players in Asia-Pacific home furnishings are IKEA, Bed Bath & Beyond Inc., Wayfair Inc., Future Group, Ashley Furniture Industries Inc., Carrefour, Crate & Barrel, Herman Miller, and Home Depot. Home furnishings are available at store and through internet retailing.

 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Trends Influencing the Asia-Pacific Home Furniture Market

    6. 4.6 Value Chain Analysis of the Asia-Pacific Home Furniture Market

    7. 4.7 Millennials and the Housing Market

    8. 4.8 Porter's Five Forces Analysis

    9. 4.9 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Living-Room and Dining-Room Furniture

      2. 5.1.2 Bedroom Furniture

      3. 5.1.3 Kitchen Furniture

      4. 5.1.4 Lamps and Lighting Furniture

      5. 5.1.5 Plastic and Other Furniture

    2. 5.2 By Distribution Channel

      1. 5.2.1 Departmental Stores

      2. 5.2.2 Independent Furniture Retailers

      3. 5.2.3 Factory Outlets

      4. 5.2.4 Online

      5. 5.2.5 Others

    3. 5.3 By Country

      1. 5.3.1 Japan

      2. 5.3.2 India

      3. 5.3.3 China

      4. 5.3.4 Others

  6. 6. COMPANY PROFILES

    1. 6.1 Markor International Furniture Co., Ltd.

    2. 6.2 Nitori Co., Ltd

    3. 6.3 Otsuka Kagu Co Ltd

    4. 6.4 Cassina IXC Ltd

    5. 6.5 Bals Corporation

    6. 6.6 Godrej Interio

    7. 6.7 Zuari Furniture

    8. 6.8 Durian Furniture

    9. 6.9 Dalian Huafeng Furniture Group Co Ltd

    10. 6.10 Beijing Qumei Furniture Group Corp., Ltd.

    11. 6.11 Ikea

    12. 6.12 Ashley Furniture Industries Inc

    13. 6.13 Walmart

    14. 6.14 Williams-Sonoma Inc

    15. 6.15 Herman Miller*

  7. *List Not Exhaustive
  8. 7. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Home Furniture Market market is studied from 2016 - 2026.

The Asia-Pacific Home Furniture Market is valued at 5.2% in 2016.

Ikea, Bed Bath & Beyond Inc., Herman Miller, Williams-Sonoma, Inc., Walmart Inc. are the major companies operating in Asia-Pacific Home Furniture Market.

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