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Thomas Seaston Interiors

Global Furniture Market

Global Furniture Market

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The global furniture market reached US$ 655.6 Billion in 2022. The market is primarily driven by the rising construction of residential and commercial buildings due to the rising population and rapid urbanization. In addition, the escalating demand for lightweight, versatile, and portable furniture with maximum storage facilities represents another major growth-inducing factor. Besides this, with the growing prevalence of postural dysfunction, individuals are widely adopting ergonomically designed furniture to prevent health and posture problems. This, coupled with the availability of innovative products through online shopping platforms, is propelling the market growth
                                      ANALYSIS   

 

As per the analysis by IMARC Group, the top furniture companies are introducing luxurious and premium product variants to attract new consumers. They are also adopting unique promotional campaigns to strengthen their market foothold. For instance, Inter IKEA Systems B.V. offer discounts and coupons on various furniture items to accelerate their sales from retail stores. The company also launched its regular Black Friday Sale campaign to boost the sales. Besides this, the leading market players are developing gaming furniture that is ergonomically designed for optimal performance and comfort with expressive color palette options, inviting gamers to play in style. Looking forward, IMARC Group expects the market to reach US$ 685.62 Billion by 2028, exhibiting a CAGR of 0.74% during 2023-2028.

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