Upholstered Furniture Market by Type (Chair, Sofas, Table, Beds and Other Types), by Price Range (Mass and Premium), by End Use (Residential and Commercial) and by Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Channels and Others) - Global Opportunity Analysis and Industry Forecast 2022-2030

Market Definition:

The global Upholstered Furniture Market size was valued at 48.50 billion in 2021 and is predicted to reach 78.06 billion by 2030 with a CAGR of 5.4% from 2022-2030.

Among the global furniture industry, upholstered furniture is one of the fastest-growing segments. Also, the significant increase in purchasing power of consumers has primarily led to the development of this market. Moreover, this type of furniture may be stationary or movable, made with cushions and is stuffed or filled in whole or in part which is hidden/concealed by fabric or any of the other covering.

Market Dynamics and Trends

The upholstered furniture market growth is mainly driven by a number of factors such as increased import and export of luxury & comfortable wooden furniture among the countries, the need for less capital investment for an upholstered furniture factory and the proliferation of e-commerce or online shopping industry. In addition, the government of various developing and developed countries is also investing in infrastructure development to enable the economic development of the nation. Which in turn is further fueling the market growth.

For instance, China has formulated the 14th Five-Year Plan (2021-2025), a well-calibrated layout for the development of new infrastructure to boost domestic demand, economic transformation, and growth sustainability. In addition to this, the country has planned $30 billion investment in Tibet to ramp up the infrastructure in the next five years. Such infrastructure development plans are projected to create lucrative growth opportunities for the upholstered furniture market in the future.

However, a lack of skilled labor and an uncertain economic environment may hamper growth of the market to some extent. On the other hand, the rise in demand for space-saving and intelligent furniture is expected to create lucrative growth opportunities for the market players during the forecast period.

Market Segmentations and Scope of the Study:

The upholstered furniture market report is segmented on the basis of type, price range, distribution channel, end use and geography. On the basis of type, the market is divided into chair, sofas, table, beds and other types. On the basis of price range, the market is classified into mass and premium. On the basis of distribution channel, the market is categorized into supermarket/hypermarket, specialty stores, online channels and others. On the basis of end use, the market is segmented into residential and commercial. Commercial market is sub-seg mented into restaurant, luxury hotels and office spaces.  Geographic breakdown and analysis of each of the aforesaid segments include regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia Pacific holds the lion's share of the upholstered furniture industry at present and is expected to boost the market during the forecast period. This is attributed to factors such as increasing usage of upholstered furniture in luxury hotels, restaurants and hotels spaces. China is the largest producer of fabrics along with being the largest exporter of upholstered furniture in the world boosts the market growth in this region.

However, Europe is expected to show a steady rise in the upholstered furniture market due to the rapidly increasing adoption of upholstered furniture in residential apartments to enhance furnishing along with changing lifestyles of people and upgradation in modern furnishing techniques in this region. Moreover, presence of major key players such as England Furniture Incorporated and DFS Furniture Plc boost the market growth in this region.

Competitive Landscape

The upholstered furniture market comprising of various market players such as Rowe Furniture, England Furniture Incorporated, DFS Furniture Plc, Norwalk Furniture , Inter Ikea Group, Lee Industries, Hooker Furniture, Ashley Furniture Industries, Inc., Mayo Manufacturing Corp, Palliser Furniture Upholstery Ltd, Bassett Furniture Industries Inc, American Furniture Manufacturing, Zoy Furniture, Ekornes ASA, and Sherrill Furniture. The market players adopt various strategies such as product launches, product development, partnership, collaboration, and agreements to influence the market growth.

For instance, in December 2020, Ikaigai, a multi-brand contemporary furniture company, launched its store in India with an aim to deliver high-quality furniture in the Indian market. With its emphasis on style and comfort, Ikaigai has brought a wide selection of design styles and aesthetics under one roof. Hence, demand for luxury and premium furniture drives growth of the global furniture market.

Key Benefits

• The upholstered furniture market report provides a quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the upholstered furniture market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the market is provided in the report.

• The competitive analysis of the market players along with their market share in the market

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Upholstered Furniture Market Key Segments

By Type

• Chair

• Sofas

• Tables

• Beds

• Other Types

By End Use

• Residential

• Commercial

• Restaurant

• Luxury Hotels

• Office Spaces

By Price Range

• Mass

• Premium

By Distribution Channel

• Supermarket/Hypermarket

• Specialty Stores

• Online Channels

• Others

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

Report Scope and Segmentation: