Multiple Factors Expected to Propel Growth for Wood Furniture Market
The Asia-Pacific region dominates the global wood furniture market, accounting for over 45% of market share in 2018.
According to a recent research report by Global Market Insights, Inc., the wood furniture market is projected to surpass $580 billion by 2025. An increasing consumer preference for branded and ready-made furniture is likely to influence wood furniture market share over the projected timeframe. In addition, rapid expansion of the housing sector due to population and economic growth, growing foreign direct investment inflows, and government focus on smart cities is also expected to augment product demand.
With the rapid development of high-rise commercial and residential complexes, consumers are purchasing an increasing number of high-quality products and opting for diversified design solutions. The substantial availability of beautifully crafted pieces of furniture that also provide comfort is transforming the furniture products landscape globally, further driven by a surge in disposable incomes.