Luxury Furniture Market : Global Industry Analysis and Forecast (2020-2027) By Material, Distribution channel, End user and Geography Global Luxury Furniture Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 4.50% during forecast period of 2019 to 2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Growing urbanization and industrialization, rising permeation of online retailing in developing nations are manipulating customers for acquiring luxury furniture turn to raise growth in the luxury furniture market. Increasing awareness of modern lifestyle increases the growth in the luxury furniture market. High initial cost is limiting the growth in the luxury furniture market. Based on the material, the luxury furniture market segmented into Glass, Metal, Plastic, Leather, and Wood. the luxury furniture market is expected to dominate at high growth by wood material. Wooden furniture is used for their beautiful natural look. Wooden furniture offers flexibility, durability and it is easy to maintain comfortably. Furthermore, furniture key players are introducing materials in the design of luxury furniture like metal, leather, glass to replace wood. Based on the distribution channel, the luxury furniture market is segmented into departmental stores, online sales, independent furniture retailers, and Factory Outlets. The online sales segment is estimated to grow at high CAGR of XX% in the luxury furniture market. Online