Global Wooden Furniture Market, Product Type (Hardwood, Softwood), Application (Residential, Commercial), Distribution Channel (Retail, Mass Market Players, Furniture Store, Monobrand Furniture Stores, Online) – Industry Trends and Forecast to 2030.
Wooden Furniture Market Analysis and Size
The rapid change in consumer buying behavior along with the presence of large scale manufacturers is one of the primary factors driving the wooden furniture market growth rate. Also the market is largely driven by the increase in outdoor furniture demand. While, the rapidly rising spending on new residential construction and technological advancements is one of the major factor driving the growth of the wooden furniture market.
Data Bridge Market Research analyses that the wooden furniture market which was USD 413.38 billion in 2022, will reach USD 644.10 billion by 2030, and is expected to undergo a CAGR of 5.7% during the forecast period. “Hardwood” dominates the product type segment of the wooden furniture market by because hardwoods will last longer than softwoods, they're suitable for a large range of applications including; construction, joinery, high-quality furniture and flooring. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Wooden Furniture Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Hardwood, Softwood), Application (Residential, Commercial), Distribution Channel (Retail, Mass Market Players, Furniture Store, Monobrand Furniture Stores, Online)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Ashley Furniture Industries, Inc. (U.S.), Bassett Furniture Industries (U.S.), Bernhardt Furniture Company (U.S.), Bush Industries Inc. (U.S.), Century Furniture LLC (U.S.), DOIMO (Italy), Dorel Industries Inc. (Canada), Ethan Allen Global, Inc. (U.S.), Hafele (Germany), Hooker Furniture (U.S.), hülsta-werke Hüls GmbH & Co. KG (Germany), Kinnarps AB (Sweden), Klaussner Home Furnishing (U.S.), Kvist Industries A/S (Denmark), La-Z-Boy, Incorporated (U.S.)
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Market Opportunities
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Market Definition
Wooden furniture refers to furniture items that are primarily constructed from wood, including both hardwoods and softwoods. These pieces of furniture are crafted using various woodworking techniques and may consist of solid wood or wood-based materials like plywood, particleboard, or engineered wood. Wooden furniture is known for its durability, versatility, and aesthetic appeal, making it a popular choice for both residential and commercial interiors.
Global Wooden Furniture Market Dynamics
Drivers
- Rising Global Population
The growing global population, especially in urban areas, drives the demand for housing and, consequently, the need for furniture, including wooden furniture. As the global population grows, so does the demand for housing and furnishings. More people means more households, which, in turn, leads to an increased demand for furniture, including wooden furniture. Population growth often goes hand in hand with urbanization. People moving from rural areas to cities typically require new furniture for their homes. This can boost the sales of wooden furniture, as it is a popular choice for both traditional and modern urban dwellings.
- Interior Design Trends
Evolving interior design trends and consumer preferences for natural and eco-friendly materials contribute to the demand for wooden furniture. There has been a growing emphasis on sustainability in interior design. Wooden furniture made from reclaimed or sustainably sourced wood has become popular. Consumers are increasingly interested in furniture that is both beautiful and environmentally friendly. Minimalist design principles often feature clean lines, simple shapes, and a focus on functionality. In wooden furniture, this translates to sleek and uncluttered designs that emphasize the natural beauty of wood.
Opportunities
- Eco-Friendly Initiatives
Companies that emphasize sustainability and promote responsible wood sourcing can tap into the growing market for eco-friendly furniture. Many furniture companies now prioritize sourcing wood from sustainable and certified forests. They often obtain wood from forests managed according to the guidelines set by organizations such as the Forest Stewardship Council (FSC), which promotes responsible forestry practices.
- Value-Added Services
Offering services such as furniture repair, refinishing, or upcycling can add value and extend the life of wooden furniture products. Expanding globally in the wooden furniture market can be a lucrative opportunity for businesses looking to reach a broader customer base and diversify their operations. However, global expansion requires careful planning, market research, and strategic decision-making.
Restraints/Challenges
- Competition from Alternative Materials
Alternative materials such as metal, plastic, and engineered wood challenge the market share of traditional wooden furniture. Metal furniture, such as steel, aluminum, and iron, is known for its durability and sleek, modern aesthetics. It is often chosen for outdoor furniture due to its resistance to weathering. In some cases, metal is used in combination with wood to create hybrid designs. Plastic furniture is lightweight, affordable, and easy to maintain. It is commonly used for outdoor and casual indoor furniture. Advances in plastic manufacturing have led to stylish and durable designs that can mimic the appearance of wood.
- Changing consumer preferences
Shifting consumer preferences towards minimalism or smaller living spaces can affect the demand for large wooden furniture pieces.Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023 to 2030.
This wooden furniture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wooden furniture market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In December 2022, Kogan.com Limited took over the management of brosa, one of australia’s largest online retailer of luxury furniture. The deal ensures that the popular furniture brand survives and restarts stronger than ever, with the support of the Kogan Group
- In July 2022, Harman Miller Inc. partnered with G@ Esports to supply gaming chairs, desks and monitor arms. The partnership will help the company to increase sales revenue and gross profit.
Global Wooden Furniture Market Scope
The wooden furniture market is segmented on the basis of product type, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Hardwood
- Softwood
Application
- Residential
- Commercial
Distribution Channel
- Retail
- Mass Market Players
- Furniture Store
- Monobrand Furniture Stores
- Online
Global Wooden Furniture Market Regional Analysis/Insights
The global wooden furniture market is analysed and market size insights and trends are provided by product type, application and distribution channel as referenced above.
The countries covered in the Wooden furniture market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Asia Pacific dominates and expected to witness significant growth during the forecast period of 2023 to 2030 because of the shifting consumer inclination towards multifunctional furniture, rising influence of western cultures and trends, growing popularity for modular kitchen and lighting and the easy availability of raw materials in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Wooden Furniture Market Share Analysis
The wooden furniture market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the company’s focus related to the wooden furniture market.
Some of the major players operating in the wooden furniture market are:
- Ashley Furniture Industries, Inc. (U.S.)
- Bassett Furniture Industries (U.S.)
- Bernhardt Furniture Company (U.S.)
- Bush Industries Inc. (U.S.)
- Century Furniture LLC (U.S.)
- DOIMO (Italy)
- Dorel Industries Inc. (Canada)
- Ethan Allen Global, Inc. (U.S.)
- Hafele (Germany)
- Hooker Furniture (U.S.)
- hülsta-werke Hüls GmbH & Co. KG (Germany)
- Kinnarps AB (Sweden)
- Klaussner Home Furnishing (U.S.)
- Kvist Industries A/S (Denmark)
- La-Z-Boy, Incorporated (U.S.)
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