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Wooden furniture market to procure significant returns during forecast period

Author : Rahul Varpe | Published Date : 2019-10-24 

Global Market Insights has recently added a report on Wooden Furniture Market Share 2019-2025 which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

Global wooden furniture market size is poised to witness robust growth over the forecast years. Growing population in conjunction with changing lifestyle and increasing customer preference towards customized and unique furniture options will propel the demand for wood-based options. The ability to provide compact and portable solutions for indoor, outdoor and commercial uses will considerably outline wooden furniture industry trends.

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As the world is becoming more conscious regarding the sustainability of the environment, the demand for eco-friendly products is increasing day by day. Today, furniture manufacturers have attracted a host of companies to introduce innovative furniture creations by adopting sustainable practices in their manufacturing processes. For instance, recently the Philippines’ Department of Environment and Natural Resources is ardent on expanding bamboo plantations and setting up processing plants on Panay Island to accelerate wood supply in the country, presenting new opportunities for wood furniture manufacturers.

Samson Holding, one of the leading wholesalers in the residential furniture sector, had confirmed the acquisition of a 70% stake in a Timber furniture factory situated in Vietnam earlier in July 2019. The acquisition is a strategic move to support Samson Universal Furniture brand, that remains a reliable partner to interior designers and retailers across the world. Similar growth strategies and long term contracts, along with rising furniture production, will drive wooden furniture market outlook.

A reputed studio has recently designed new, innovative furniture solutions for social housing all across Mexico, which includes wood-based products. Consistent need for residential furnishing across the world will sustain demand for affordable and reliable furniture over the next few years. Rising population in emerging economies will further bolster product adoption. Novel designs and introduction of modern residential projects, supported by a thriving manufacturing sector will provide a massive push to global wooden furniture market share.

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Asia Pacific region is one of the biggest exporters of furniture worldwide and had accounted for more than 45% of the global wooden furniture industry share in 2018. The rise in advanced manufacturing equipment, superior technical skills of workers, as well as the rise of e-commerce has tremendously changed the facet of furniture domain. Emergence of large retail players and entry of global brands in the region, coupled with increased propensity to spend on top-notch products to raise the standard of living will strengthen the consumption of furniture.

Manufacturers and large scale retail companies are expanding their reach by producing high quality furniture to meet the demands of domestic and foreign markets, contributing enormously to the Asia Pacific wooden furniture market size. With growing competition among key industry players, engaged in mergers and acquisitions as well as manufacturing of innovative products, the region can be expected to depict augmented furniture consumption over the coming years.

Notable players comprising the competitive hierarchy of the industry including Herman Miller, Inc, Samson Holding Ltd., Dorel Industries Inc., Meike International Household Products Co. Ltd., and Sauder Woodworking Co and Kimball International. Global Market Insights, Inc. has estimated that wooden furniture market size will exceed USD 580 billion by 2025.

Related News - https://blog.naver.com/industryupdates/221679506665

https://www.yumpu.com/en/document/read/62885666/dump-trucks-market-pdf

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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