The Household Furniture And Kitchen Cabinet Global Market Report 2023 by The Business Research Company, provides household furniture and kitchen cabinet market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Household Furniture Ad Kitchen Cabinet Global Market Report 2023, the market size will grow from $352.87 billion in 2022 to $375.25 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of household furniture and kitchen cabinet is expected to grow to $462.01 billion in 2027 at a CAGR of 5.3%.
Increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the furniture manufacturing market.
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The household furniture and kitchen cabinet market is segmented:
1) By Type: Household Furniture, Kitchen Cabinet
2) By Type of Material: Metal, Wood, Other Material Types
3) By Distribution Channel: Online, Offline
Top Major Players:
Ashley Furniture Industries Inc
Masco Corporation
Man Wah holdings
La-Z-Boy
Hooker Furniture Corp
Asia-Pacific was the largest region in the household furniture and kitchen cabinet market in 2022.
RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serves the purpose of quick furnishings. The RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer and is available in parts with instructions to assemble the piece of furniture. Already popular in developed countries, RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases, and RTA filing cabinets. For instance, IKEA, a major ready to assemble manufacturer, has opened stores in India owing to the high demand for ready to assemble furniture.
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The household furniture and kitchen cabinet market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Household Furniture And Kitchen Cabinet Market Characteristics
4. Household Furniture And Kitchen Cabinet Market Product Analysis
5. Household Furniture And Kitchen Cabinet Market Supply Chain
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21. Financial Performance
22. Key Mergers And Acquisitions In The Household Furniture And Kitchen Cabinet Market
23. Market Background: Furniture Manufacturing Market
24. Recommendations
25. Appendix
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