Accent Furniture Market

Accent Furniture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Accent Furniture Market: Introduction

In interior designing, accent furniture refers to furniture that stands out by adding a mood or personality to a room while matching with other general décor furniture. Accent furniture is not generally chosen for regular use or for the comfort level it can provide. Instead, the role of accent furniture is mostly to be used for decoration, adding color factor or definition, drama, and texture to the room or space.
Accent furniture is any element of furniture that is separate from the main element of a certain space. Specifically in a house interior, the main pieces of furniture would be the sofa and coffee table, whereas, corner seating chairs, rugs, and TV stand can be considered accent furniture. The market for accent furniture is expected to witness growth during the forecast period.

Key Drivers and Opportunities of the Global Accent Furniture Market

Rising standard of living and increase in disposable income which has changed consumer buying behavior toward premium houseware products has a positive impact on the global accent furniture market. Furthermore, availability of trendy accent furniture products is expected to increase the demand for accent furniture during the forecast period.
Rising urbanization in developing countries has also led to increase in number of hotels and restaurants that use accent furniture in entrance lobbies, reception areas, suite rooms, etc. to give a luxury feeling to customers. Moreover, furniture such as arm chairs, barrel chairs, and C type tables, are some accent furniture used in offices to improve the working environment. This factor is expected to propel the demand for accent furniture from hotels, restaurants, and offices during the forecast period.

Restraints of the Global Accent Furniture Market

Materials required to manufacture accent furniture include wood, aluminum, stainless steel, plastic, and leather. Material such as barn wood, redwood, oak, and stainless steel, experience high fluctuating prices. This fluctuation of raw material prices and lack of skilled workers are factors likely to restrain the growth of the accent furniture market during the forecast period.
The Covid-19 pandemic has had a negative impact on revenue of companies. As a result, they are being forced to downsize and reduce manpower. Both developed and developing countries are strongly affected by the pandemic. These factors are likely to affect the growth of the accent furniture market during the forecast period.

North America to Hold Major Share of the Global Accent Furniture Market

In terms of region, the global accent furniture market can be divided into North America, Europe, Asia Pacific, Middle & East Africa, and South America.
North America is expected to hold major share of the global accent furniture market during the forecast period due to the presence of several manufacturers and high purchasing power of consumers in the region.

Key Players Operating in the Global Accent Furniture Market

Key manufacturers of accent furniture are focused on designing bespoke designs along with standard product catalogues to cater to a diverse consumer base. Investment in new materials, robust marketing and promotions, and strategic partnerships are key focus areas of furniture manufacturers. Companies are focusing on aggressive marketing, and participation & promotions in trade shows in order to enhance their market positioning in target areas.

Major players operating in the global accent furniture market includes: