Home Markets Luxury Furniture Market challenges to growth 2017 to 2022

Luxury Furniture Market challenges to growth 2017 to 2022


Luxury Furniture Global Luxury Furniture Market Research Report 2017 to 2021 provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure of the Luxury Furniture Market.

Companies Mentioned are Inter IKEA Systems, Heritage Home Group, Herman Miller, HNI, MUEBLES PICO, Steinhoff International, and Williams-Sonoma.

The global Luxury Furniture market consists of different international, regional, and local vendors. The market competition is foreseen to grow higher with the rise in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.

Major points covered in Global Luxury Furniture Market 2017 Research are:-

  • What will the market size and the growth rate be in 2021?
  • What are the key factors driving the global Luxury Furniture market?
  • What are the key market trends impacting the growth of the global Luxury Furniture market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global Luxury Furniture market?
  • What are the market opportunities and threats faced by the vendors in the global Luxury Furniture market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global Luxury Furniture market?

This independent 123 page report guarantees you will remain better informed than your competition. With over 160 tables and figures examining the Luxury Furniture market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2021.

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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Luxury Furniture in these regions, from 2012 to 2021 (forecast), covering Americas, APAC and EMEA.

The report provides a basic overview of the Luxury Furniture industry including definitions, classifications, applications and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and cost structures.

Then, the report focuses on global major leading industry players with information such as company profiles, product picture and specifications, sales, market share and contact information. What’s more, the Luxury Furniture industry development trends and marketing channels are analyzed.

Commenting on the report, an analyst from MIR’s team said: “The latest trend gaining momentum in the market increase in demand for eco-friendly and green furnishings. The awareness of eco-friendly and green furniture in the Americas and Europe has increased. It is also being witnessed among the consumers of developing countries such as China. Consumers are currently showing more preference toward eco-friendly furniture such as those made from Moso bamboo, which is harder and more durable than oak. These materials also allow designers to obtain an aesthetic look for their products.”

According to the report, one of the major drivers for this market is branding and positioning. The global luxury furniture market is characterized by various brands and their value propositions. Brands work on different positioning strategies to position the brand as luxury and ultra-luxury. The strategies aim to improve the brand image and product positioning, characterized by quality and unique designs. It is imperative for brands to strengthen the perception of exclusivity and rarity of their products. Thus, branding and positioning have become the most powerful marketing strategies for furniture retailers, which mainly target the affluent consumer segment. The demand mostly stems from HNWIs and upper-middle class families with high purchasing power.

Further, the report states that one of the major factors hindering the growth of this market is cost challenge faced by manufacturers and retailers. One of the key operational challenges faced by the market is the cost of raw materials and manufacturing. Luxury wooden furniture requires wooden parts as well as several metallic components for manufacturing the finished product. Hence, the cost of manufacturing rises with an increase in the price of wood, metal, or any other raw material. This adversely affects the profit margins for manufacturers and retailers. Manufacturers need to produce and sell a certain quantity of units to maintain a significant profit margin.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

The research includes historic data from 2012 to 2016 and forecasts until 2021 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Luxury Furniture on the basis of stating current situation of the industry in 2017 so as to make comprehensive organization and judgment on the competition situation and development trend of Luxury Furniture Market and assist manufacturers and investment organization to better grasp the development course of Luxury Furniture Market.

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