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The recliner sofas market size is forecast to increase by USD 8.48 billion at a CAGR of 7.04% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market encompasses the sale of these furniture pieces through both online and offline channels. Offline sales involve distribution through specialty retail stores, department stores, and hypermarkets, among others. However, the shift towards online shopping has led to a decline in offline sales. To counteract this trend, manufacturers are collaborating with local retailers and opening their own outlets. Marketing strategies, such as promotions and targeted advertising, are also being employed to boost sales. Despite the challenges, offline sales are expected to maintain a steady growth rate during the forecast period due to the continued appeal of physical shopping experiences for some consumers.
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The offline segment was valued at USD 14.56 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market is projected to experience consistent expansion over the forecast period. The advanced retail sector in the US, particularly furniture and furnishing stores, supermarkets, and clubhouses, serves as a significant foundation for market growth. Additionally, the increasing trend towards online retailing in the US home furniture market is anticipated to boost the demand for recliner sofas. The emergence of technology such as Augmented Reality and virtual reality, employed by companies like IKEA, allowing consumers to preview products in real-time, is also expected to contribute to market growth. The organized retail sector's rise in the US further strengthens the market's growth trajectory.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Evolving product ergonomics in terms of style, utility, and features is the key driver of the market.
Growing adoption of AR for enabling recliner sofa sales is the upcoming trend in the market.
Fluctuations in raw material prices is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recliner sofas, also known as armchairs with adjustable backrests and footrests, have gained significant popularity in both residential and commercial settings due to their comfort and functionality. This article explores the market dynamics and trends shaping the recliner sofas industry, focusing on various sectors and design advancements. The global ageing population is a significant factor driving the demand for recliner sofas. As people age, they often experience back pain and joint issues, making recliners an attractive option for their comfort and support. This trend is particularly noticeable in the residential construction industry, where fully furnished apartments catering to the elderly population are increasingly popular. Recliner sofas are not just limited to residential settings. They are also widely used in commercial settings such as spas, clubs, and real estate offices. In these environments, recliners offer a luxurious and relaxing experience for customers and clients. Design advancements, such as comfort air technology and customizable products, have further enhanced their appeal. As consumers become more environmentally conscious, there is a growing demand for eco-friendly furniture options. Some manufacturers are addressing this trend by using sustainable materials, such as reclaimed wood or recycled fabrics, in their recliner designs.
Additionally, efforts to reduce deforestation and minimize the carbon footprint of production processes are becoming essential considerations for companies in the market. Design advancements continue to shape the market, with various styles catering to diverse preferences. From casual and contemporary to traditional and luxury, there is a recliner sofa for every taste and budget. Some of the latest design trends include lever-operated mechanisms for easy adjustment, headrests for added comfort, and heat massage and vibration features for ultimate relaxation. the market is served by both online and offline platforms. E-retailers have gained popularity due to their convenience and wide product selection, while traditional brick-and-mortar stores continue to offer a tactile shopping experience.
Moreover, the tourism sector and hospitality industry also contribute to the market by offering recliner sofas in hotels, resorts, and vacation rentals. Recliner sofas are a versatile and popular furniture category, with applications ranging from residential to commercial settings. Market trends include an ageing population, increasing demand for eco-friendly materials, and design advancements such as comfort air technology and customizable features. Both online and offline distribution channels cater to the diverse preferences of consumers, ensuring that recliner sofas remain a desirable and functional furniture choice for years to come.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.04% |
Market growth 2024-2028 |
USD 8.48 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.45 |
Key countries |
US, China, UK, Canada, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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