Modern Furniture Market – A special style of furniture influenced by modernism
- Modern furniture refers to a specific style of furniture that is influenced by modernism.
- The modernist movement in furniture started in the early 1900s with the Bauhaus school of design. Modern furniture designs were a revolution against the luxuriant designs that preceded them.
- Modern furniture offers various solutions such as dining, sleeping, seating, and storage functions. It plays an important role in home and office layout.
Increase in Consumer Spending on Home Improvement to Drive the Global Modern Furniture Market
- Consumers are increasingly spending on improving the interiors and exteriors of their homes, as home furnishing has become a symbol of lifestyle status. Rise in investment in landscaping is driving the modern furniture market. Decrease in urban residential space has compelled people to focus on creating patio spaces. Growth in disposable income of the people and recovery of the residential housing sector are key factors anticipated to boost the global modern furniture market during the forecast period.
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Asia Pacific to Hold a Leading Share of Global Modern Furniture Market
- Geographically, the global Modern Furniture market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Modern Furniture market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Modern Furniture market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Modern Furniture market is segmented into Brazil, and Rest of South America.
- Asia Pacific is dominating the market share due to improving lifestyle and increasing disposable income are highly contributing the market share of modern furniture.
- Also, Europe is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising demand of modern furniture is projected to drive product innovation in the region.
Key Players Operating in the Modern Furniture Market:
The Modern Furniture market is competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion and product portfolio expansion to enhance their position in the market.
Companies are focusing on increasing the product portfolio. For instance, Fermob, manufactures colorful outdoor furniture and accessories for residential and commercial spaces.
The modern furniture market is fragmented owing to the presence of few global and several domestic players. Most of the vendors sell and promote their furniture products via their own online sales website and some through e-tailor websites. A few of the key players operating in the global Modern Furniture market are:
- Ashley Home Stores, Ltd.
- Barlow Tyrie Ltd.
- TRIBÙ NV
- Modern Lighting (Lumens Light + Living)
- Williams-Sonoma Inc., by Inmod, Room & Board
- Crate and Barrel
- Flexform SpA
- B&B Italia Spa.
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Global Modern Furniture Market: Research Scope
Global Modern Furniture Market, by Product Type
Global Modern Furniture Market, by Material
Global Modern Furniture Market, by Area
Global Modern Furniture Market, by End-user
Global Modern Furniture Market, by Distribution Channel
- E-tailer Websites
- Company Websites
- Furniture Stores
The report on the global Modern Furniture market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.