North America - High end Furniture Market by Distribution Channel and Product Forecast and 2024-2028
| Published: Dec 2023 | Pages: 150 | SKU: IRTNTR72795 |
North America - High-end Furniture Market 2024-2028
The North America - High-end Furniture Market size is estimated to grow at a CAGR of 4.91% between 2023 and 2028. The market size is forecast to increase by USD 3.29 billion. The accelerated growth of the market is by various factors, including the rising popularity of multi-functional luxury furniture, the growth of organized retail and the increase in residential and commercial construction.
The report includes a comprehensive outlook on the North America High End Furniture Market offering forecasts for the industry segmented by Distribution Channel which comprises offline and online. Additionally, it categorizes Product into seating products, cabinets and entertainment units, tables, and beds. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
What will be the size of the North America High End Furniture Market During the Forecast Period?
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North America High End Furniture Market: Key Drivers, Trends and Challenges
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.
Key North America High End Furniture Market Driver
The rising popularity of multi-functional luxury furniture is notably driving the market growth. The rising demand for multi-functional high-end furniture is an emerging trend in the North America - high end furniture market. With the increasing number of single and two-person households, the demand for small, portable, multi-purpose, foldable, and technologically influenced high-end furniture is increasing. Furthermore, the use of multi-functional furniture products helps minimize clutter by reducing the number of isolated pieces of furniture used in a room.
However, among the latest developments in the multi-functional high-end furniture sector, internationally acclaimed luxury furniture specialist Jaime Alexander International Ltd. innovated the high-end luxury furniture category with the launch of Kojin Grill, a multi-functional high-end furniture product. Thus, this will increase the demand for multi-functional high-end furniture among end-users, which is expected to drive the market during the forecast period.
Key North America High End Furniture Market Trends
Technological innovations in the high-end furniture market in North America are an emerging trend shaping the market growth. Technological innovations are positively impacting the growth of the North America - high end furniture market. Many major players operating in the North America - high end furniture market have been focusing on implementing emerging technologies to develop comfortable, attractive, and functional luxury furniture items that blend smoothly into modern lifestyles.
Additionally, new apps are readily being launched, which enable users to design the interiors of a room according to the furniture that suits their needs. Furthermore, Herman Miller and Logitech are creating high-performance furniture solutions for gamers. Therefore, the aforementioned factors make technological innovations an emerging trend, that will drive the growth of the market during the forecast period.
Major North America High End Furniture Market Challenge
Frequent product recalls are a significant challenge hindering market growth. The increasing number of product recalls featuring sub-categories, such as bar stools, recliner chairs, sofas, beds, and dining tables, is a major challenge that is anticipated to hinder the growth of the North America - high end furniture market during the forecast period. Product recalls hamper the reputation of any sector and result in operational and financial constraints among players operating in the high end furniture market. There have been quite a significant number of instances of such recalls in the past few years in the North America - high end furniture market
For instance, in 2021, in the US, there was a recall involving a chair that failed to meet the lead paint standards. In another instance, a company, Jimco Lamp and Manufacturing Co. recalled 110,000 accent tables that had charging units. Those charging units posed an electrical shock hazard, although no injuries or incidents were reported at the time of the recall. Therefore, frequent product recalls are expected to hinder the growth of the North America high end furniture market during the forecast period.
North America High End Furniture Market Customer Landscape
The market research 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
North America High End Furniture Market Customer Landscape
Who are the Major North America High End Furniture Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bernhardt Furniture Co. - The company offers high-end furniture such as Alexis dining table, Abbott dining table, and Allure dining table.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- Barrymore Furniture
- Baker Interiors Group
- Bradington-Young
- Brown Jordan Co.
- Burrow Inc.
- Castlery Pte Ltd.
- Century Furniture LLC
- COCOCO Home
- Crate and Barrel
- Ethan Allen Interiors Inc.
- Grayson Living
- Hooker Furniture Corp.
- IPE S.R.L.
- KI
- Lulu and Georgia Inc.
- MillerKnoll Inc.
- Ralph Lauren Corp.
- Restoration Hardware Inc.
- Williams Sonoma Inc.
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.
What is the Largest-Growing Segments in the North America High End Furniture Market ?
The offline segment is estimated to witness significant growth during the forecast period. Offline distribution channels include the sales of high-end furniture through various offline channels, such as specialty furniture stores, department stores, discount stores, hypermarkets, supermarkets, warehouse clubs, manufacturer-branded stores, and designer stores.
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The offline segment was the largest and was valued at USD 7.83 billion in 2018. Further, the hypermarkets, supermarkets, and clubhouse stores segment of the high-end residential furniture market includes the distribution and sale of high-end furniture items through organized retailers, including supermarkets, hypermarkets, and clubhouse stores. The other retail stores segment of the high-end residential furniture market includes the sale and distribution of high-end furniture items through retail stores, such as warehouse clubs, discount stores, designer stores, and convenience stores. Warehouse clubs and discount stores provide customers the liberty to shop for high-end furniture products in bulk at a wholesale price. These factors will drive the growth of the offline segment in the market during the forecast period.
Segment Overview
The North America High End Furniture Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Distribution Channel Outlook
- Offline
- Online
- Product Outlook
- Seating products
- Cabinets and entertainment units
- Tables
- Beds
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North America High End Furniture Market Scope |
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Report Coverage |
Details |
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Page number |
150 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.91% |
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Market growth 2024-2028 |
USD 3.29 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.07 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Baker Interiors Group, Barrymore Furniture, Bernhardt Furniture Co., Bradington-Young, Brown Jordan Co., Burrow Inc., Castlery Pte Ltd., Century Furniture LLC, COCOCO Home, Crate and Barrel, Ethan Allen Interiors Inc., Grayson Living, Hooker Furniture Corp., IPE S.R.L., KI, Lulu and Georgia Inc., MillerKnoll Inc., Ralph Lauren Corp., Restoration Hardware Inc., and Williams Sonoma Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this North America High End Furniture Market In Regional Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the market size and its contribution of the market in focus to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 High end furniture market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on high end furniture market in north America 2018 - 2022 ($ billion)
- 4.2 Distribution Channel Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)
- 4.3 Product Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
- 4.4 Country Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Distribution Channel
- 6.1 Market segments
- Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)
- 6.2 Comparison by Distribution Channel
- Exhibit 31: Chart on Comparison by Distribution Channel
- Exhibit 32: Data Table on Comparison by Distribution Channel
- 6.3 Offline - Market size and forecast 2023-2028
- Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)
- 6.4 Online - Market size and forecast 2023-2028
- Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Distribution Channel
- Exhibit 41: Market opportunity by Distribution Channel ($ billion)
- Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)
7 Market Segmentation by Product
- 7.1 Market segments
- Exhibit 43: Chart on Product - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Product - Market share 2023-2028 (%)
- 7.2 Comparison by Product
- Exhibit 45: Chart on Comparison by Product
- Exhibit 46: Data Table on Comparison by Product
- 7.3 Seating products - Market size and forecast 2023-2028
- Exhibit 47: Chart on Seating products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 48: Data Table on Seating products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Chart on Seating products - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on Seating products - Year-over-year growth 2023-2028 (%)
- 7.4 Cabinets and entertainment units - Market size and forecast 2023-2028
- Exhibit 51: Chart on Cabinets and entertainment units - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Cabinets and entertainment units - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Cabinets and entertainment units - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Cabinets and entertainment units - Year-over-year growth 2023-2028 (%)
- 7.5 Tables - Market size and forecast 2023-2028
- Exhibit 55: Chart on Tables - Market size and forecast 2023-2028 ($ billion)
- Exhibit 56: Data Table on Tables - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Chart on Tables - Year-over-year growth 2023-2028 (%)
- Exhibit 58: Data Table on Tables - Year-over-year growth 2023-2028 (%)
- 7.6 Beds - Market size and forecast 2023-2028
- Exhibit 59: Chart on Beds - Market size and forecast 2023-2028 ($ billion)
- Exhibit 60: Data Table on Beds - Market size and forecast 2023-2028 ($ billion)
- Exhibit 61: Chart on Beds - Year-over-year growth 2023-2028 (%)
- Exhibit 62: Data Table on Beds - Year-over-year growth 2023-2028 (%)
- 7.7 Market opportunity by Product
- Exhibit 63: Market opportunity by Product ($ billion)
- Exhibit 64: Data Table on Market opportunity by Product ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 66: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 67: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 68: Chart on Geographic comparison
- Exhibit 69: Data Table on Geographic comparison
- 9.3 US - Market size and forecast 2023-2028
- Exhibit 70: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.4 Canada - Market size and forecast 2023-2028
- Exhibit 74: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 75: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on Canada - Year-over-year growth 2023-2028 (%)
- 9.5 Mexico - Market size and forecast 2023-2028
- Exhibit 78: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
- 9.6 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)
- Exhibit 83: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 84: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 85: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 86: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 87: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 88: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 89: Matrix on vendor position and classification
- 12.3 Bernhardt Furniture Co.
- Exhibit 90: Bernhardt Furniture Co. - Overview
- Exhibit 91: Bernhardt Furniture Co. - Product / Service
- Exhibit 92: Bernhardt Furniture Co. - Key offerings
- 12.4 Brown Jordan Co.
- Exhibit 93: Brown Jordan Co. - Overview
- Exhibit 94: Brown Jordan Co. - Product / Service
- Exhibit 95: Brown Jordan Co. - Key offerings
- 12.5 Burrow Inc.
- Exhibit 96: Burrow Inc. - Overview
- Exhibit 97: Burrow Inc. - Key offerings
- 12.6 Castlery Pte Ltd.
- Exhibit 98: Castlery Pte Ltd. - Overview
- Exhibit 99: Castlery Pte Ltd. - Product / Service
- Exhibit 100: Castlery Pte Ltd. - Key offerings
- 12.7 Century Furniture LLC
- Exhibit 101: Century Furniture LLC - Overview
- Exhibit 102: Century Furniture LLC - Product / Service
- Exhibit 103: Century Furniture LLC - Key offerings
- 12.8 COCOCO Home
- Exhibit 104: COCOCO Home - Overview
- Exhibit 105: COCOCO Home - Product / Service
- Exhibit 106: COCOCO Home - Key offerings
- 12.9 Ethan Allen Interiors Inc.
- Exhibit 107: Ethan Allen Interiors Inc. - Overview
- Exhibit 108: Ethan Allen Interiors Inc. - Business segments
- Exhibit 109: Ethan Allen Interiors Inc. - Key offerings
- Exhibit 110: Ethan Allen Interiors Inc. - Segment focus
- 12.10 Hooker Furniture Corp.
- Exhibit 111: Hooker Furniture Corp. - Overview
- Exhibit 112: Hooker Furniture Corp. - Business segments
- Exhibit 113: Hooker Furniture Corp. - Key offerings
- Exhibit 114: Hooker Furniture Corp. - Segment focus
- 12.11 IPE S.R.L.
- Exhibit 115: IPE S.R.L. - Overview
- Exhibit 116: IPE S.R.L. - Product / Service
- Exhibit 117: IPE S.R.L. - Key offerings
- 12.12 KI
- Exhibit 118: KI - Overview
- Exhibit 119: KI - Product / Service
- Exhibit 120: KI - Key offerings
- 12.13 Lulu and Georgia Inc.
- Exhibit 121: Lulu and Georgia Inc. - Overview
- Exhibit 122: Lulu and Georgia Inc. - Product / Service
- Exhibit 123: Lulu and Georgia Inc. - Key offerings
- 12.14 MillerKnoll Inc.
- Exhibit 124: MillerKnoll Inc. - Overview
- Exhibit 125: MillerKnoll Inc. - Business segments
- Exhibit 126: MillerKnoll Inc. - Key offerings
- Exhibit 127: MillerKnoll Inc. - Segment focus
- 12.15 Ralph Lauren Corp.
- Exhibit 128: Ralph Lauren Corp. - Overview
- Exhibit 129: Ralph Lauren Corp. - Business segments
- Exhibit 130: Ralph Lauren Corp. - Key offerings
- Exhibit 131: Ralph Lauren Corp. - Segment focus
- 12.16 Restoration Hardware Inc.
- Exhibit 132: Restoration Hardware Inc. - Overview
- Exhibit 133: Restoration Hardware Inc. - Business segments
- Exhibit 134: Restoration Hardware Inc. - Key offerings
- Exhibit 135: Restoration Hardware Inc. - Segment focus
- 12.17 Williams Sonoma Inc.
- Exhibit 136: Williams Sonoma Inc. - Overview
- Exhibit 137: Williams Sonoma Inc. - Product / Service
- Exhibit 138: Williams Sonoma Inc. - Key news
- Exhibit 139: Williams Sonoma Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 140: Inclusions checklist
- Exhibit 141: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 142: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 143: Research methodology
- Exhibit 144: Validation techniques employed for market sizing
- Exhibit 145: Information sources
- 13.5 List of abbreviations
- Exhibit 146: List of abbreviations
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
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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high end furniture market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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