Unfinished Wood Furniture: Introduction
- Unfinished wood furniture are ready to finish products. It comes full or half assembled, quality crafted, and finish sanded. Sometimes consumers need to add colored stains, and protective coatings or paints to make it ready to use.
Key Drivers of the Global Unfinished Wood Furniture Market
- Increasing consumer spending on home décor products is a driver of the unfinished wood furniture market. It has been observed that in urban areas, furniture is a part of the lifestyle. Unfinished wood furniture are available at a lower cost which encourages consumers to purchase the product.
- Governments of different countries are expanding their hospitality industry. For instance, the Saudi Arabia government is promoting investment in education, healthcare, and tourism sectors which is expected to create a platform for the unfinished wood furniture industry.
- Rising growth of e-commerce is likely to significantly boost product demand in the furniture market. E-commerce companies are offering unfinished furniture at high discounts. They provide home delivery as well as easy installation options. Furthermore, increasing usage of smartphones at the global level will work as a positive factor for the growth of the unfinished wood furniture market.
Rising Investment in Real Estate to Create Market Opportunity
- Rising real estate investment in developing countries is expected to generate demand for unfinished wood furniture in the coming years. In developing countries, real estate expenditure in the commercial and residential segment is increasing at a higher pace. Companies offer furnished and unfinished residential apartments which is set to create a new avenue for the unfinished wood furniture market.
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Assembly Issue to Work as a Market Restraint
- Many consumers face assembly related problems with unfinished wood furniture. Loose joinery in the product restricts a large number of users from purchasing unfinished wood furniture.
Asia Pacific Expected to be the Fastest Growing Global Unfinished Wood Furniture Market
- The Asia Pacific market is expected to be the fastest growing as a result of increasing consumer spending on home décor products. Furthermore, increasing disposable income in developing economies such as China, India, Sri Lanka, and Bangladesh is expected to drive the market.
- Key companies from North America and Europe are investing in the Asia Pacific market by gauging the market opportunity.
Key Players Operating in the Global Market
The global unfinished wood furniture market is moderately fragmented with numerous small and large players. Companies adopt several strategies including product innovation & development, geographical expansion, and merger and acquisition to increase their market revenue. In June 2018, Inter IKEA Systems B.V. signed a partnership with Adidas Group to increase its product portfolio in the home décor segment.
A few of the key players operating in the global unfinished wood furniture market are listed below:
- Inter IKEA Systems B.V.
- Natural Wood Furnishings, LLC.
- Good Wood Furniture
- Unfinished Furniture Store, Inc.
- Wood You of Gainesville, Inc.
- Archbold Furniture Company
- Concept Design Group
- Woodbin Unfinished Furniture
- Woodland Furniture of Bakersfield
- UFM DESIGNS
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Global Unfinished Wood Furniture Market: Research Scope
Global Unfinished Wood Furniture Market, by Application
- Kitchen & Dining
- Living Room
Global Unfinished Wood Furniture Market, by Distribution Channel
Global Unfinished Wood Furniture Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global unfinished wood 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 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
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- Recommendations to companies for strengthening their foothold in the market
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