Wooden Furniture Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The wooden furniture market share is expected to increase to USD 49.3 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.73%. This wooden furniture market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The wooden furniture market report also offers information on several market vendors, including Ashcomm LLC, Danube Group, Duresta Upholstery Ltd., FABRYKI MEBLI FORTE SA, Global Furniture Group, Godrej and Boyce Manufacturing Co. Ltd., Haworth Inc., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Kinnarps AB, Natuzzi SpA, Nilkamal Ltd., Okamura Corp., Pan Emirates Home Furnishings, Samson Holding Ltd., Steelcase Inc., Turri Srl, and Williams Sonoma Inc. among others. Furthermore, this report extensively covers wooden furniture market segmentation by application (home and office) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

What will the Wooden Furniture Market Size be During the Forecast Period?

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Wooden Furniture Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth of the real estate and construction industry is notably driving the wooden furniture market growth, although factors such as cost challenges faced by manufacturers and vendors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wooden furniture industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Wooden Furniture Market Driver

The growth of the real estate and construction industry is one of the key drivers fueling the wooden furniture market growth. Globally, there is an increase in the number of single-person and two-person households which has contributed to an increased number of home constructions. On the other hand, the longevity of baby boomers, growing urbanization, and lifestyle patterns of millennials have contributed to a corresponding demand for customized wooden furniture. Furthermore, increased investments in the global real estate market during the past decade have significantly driven the global wooden furniture market. The growth of the real estate industry is not merely restricted to developed regions, developing economies, too, are witnessing expanding real estate sectors. Thus, the growth of the real estate and construction industry will drive the wooden furniture market growth during the forecast period.

Key Wooden Furniture Market Trend

The increasing adoption of eco-friendly furniture is one of the key wooden furniture market trends supporting the market growth. There are increasing concerns regarding global warming that have led to the adoption of eco-friendly furniture. Nowadays, consumers are more inclined toward eco-friendly furniture, such as furniture made from Moso bamboo, which is harder and more durable than oak furniture. Furthermore, several non-profit trade associations have introduced guidelines for suppliers and manufacturers of eco-friendly furniture. These guidelines help them in ensuring that their business and corporate activities promote health, environmental equilibrium, and human well-being. Thus, such factors will influence the growth of the global wooden furniture market during the forecast period. 

Key Wooden Furniture Market Challenge

Cost challenges faced by manufacturers and vendors is one of the factors challenging the wooden furniture market growth. The pricing of the end-product or wooden furniture is a sum of the costs of the supplier, manufacturing, and storage, along with the inventory management expenses. High transportation costs restrain the manufacturing processes and limit the activity rates of manufacturers and vendors. Generally, transportation costs are incurred by vendors. The vendors are liable to incur taxes, duties, and fuel prices. An upsurge in transportation costs directly increases the cost of the end product. Moreover, the manufacturers in the global wooden furniture market are concerned about the safety of the end product. Thus, such challenges faced by manufacturers and vendors may limit the wooden furniture market growth during the forecast period.

This wooden furniture market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global wooden furniture market as a part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wooden furniture market during the forecast period.

Who are the Major Wooden Furniture Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Ashcomm LLC
• Danube Group
• Duresta Upholstery Ltd.
• FABRYKI MEBLI FORTE SA
• Global Furniture Group
• Godrej and Boyce Manufacturing Co. Ltd.
• Haworth Inc.
• Herman Miller Inc.
• HNI Corp.
• Inter IKEA Holding BV
• Kimball International Inc.
• Kinnarps AB
• Natuzzi SpA
• Nilkamal Ltd.
• Okamura Corp.
• Pan Emirates Home Furnishings
• Samson Holding Ltd.
• Steelcase Inc.
• Turri Srl
• Williams Sonoma Inc.

This statistical study of the wooden furniture market encompasses successful business strategies deployed by the key vendors. The wooden furniture market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, brand, and variety to compete in the market.

Product Insights and News

• Aldanube.com - The company offers wooden furniture such as sofas, TV units, beds, wardrobes both modular, and dining sets.
• Forte.com - The company offers wooden furniture such as Cosmo Dresser, Flow Bed, Flow Bed Sidetable, Flow Wardrobe, and Dixi 2 Door Side Board.
• Godrej.com - The company offers wooden furniture such as sofas, recliners, beds, display units, chairs, shoe racks, chest of drawers, dining, and dressers.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The wooden furniture market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Wooden Furniture Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the wooden furniture market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Wooden Furniture Market?

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46% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the wooden furniture market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increase in office space owing to the rise in the number of corporate offices will facilitate the wooden furniture market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The wooden furniture market in APAC witnessed a decline in 2020, owing to the outbreak of COVID-19. However, the market is expected to witness an increase in furniture sales through e-commerce channels during the forecast period. Moreover, economies have been gradually recovering from the crisis caused by COVID-19 as a result of the removal of lockdown restrictions and the large-scale COVID-19 vaccination programs conducted in the region, which are expected to drive market growth during the forecast period.

What are the Revenue-generating Application Segments in the Wooden Furniture Market?

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The wooden furniture market share growth by the home segment will be significant during the forecast period. The home segment includes furniture that is used in living rooms, bedrooms, kitchen spaces, dining rooms, bathrooms, and other areas. Decorative pieces are also in high demand in residential spaces. Moreover, the high demand for premium and multifunctional furniture has contributed to product innovation and product differentiation. Thus, the increasing demand for premium home furniture is expected to boost the growth of the home segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the wooden furniture market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Wooden Furniture Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive wooden furniture market growth during the next five years
• Precise estimation of the wooden furniture market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the wooden furniture industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wooden furniture market vendors

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