DUBLIN–(BUSINESS WIRE)–The “Household Furniture and Kitchen Cabinet Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global household furniture and kitchen cabinet market is expected to grow from $282. 56 billion in 2020 to $343.7 billion in 2021 at a compound annual growth rate (CAGR) of 21.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $426.97 billion in 2025 at a CAGR of 6%.
Major companies in the household furniture and kitchen cabinet market include IKEA AB; Ashley Furniture Industries Inc; Leggett & Platt Incorporated; La-Z-Boy Incorporated and Man Wah Holdings Limited.
The household furniture and kitchen cabinet market consists of sales of household furniture and kitchen cabinets by entities (organizations, sole traders and partnerships) that produce household furniture including furniture for kitchens, bedrooms and living rooms. This market includes built-in kitchen cabinets. The household furniture and kitchen cabinet is segmented into household furniture and kitchen cabinet.
Asia Pacific was the largest region in the global household furniture and kitchen cabinet market, accounting for 51% of the market in 2020. North America was the second largest region accounting for 20% of the global household furniture and kitchen cabinet market. Africa was the smallest region in the global household furniture and kitchen cabinet market.
RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serve the purpose of quick furnishings. The RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer, and is available in parts with instructions to assemble the piece of furniture. Already popular in developed countries, RTA furniture has been gaining traction in developing economies such as China and India.
RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some of the examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases and RTA filing cabinets. For instance, IKEA, a major ready to assemble manufacturer, has opened stores in India owing to high demand for ready to assemble furniture.
Increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the furniture manufacturing market. in countries such as India, for instance, e-commerce portals have boosted the sales of household furniture and kitchen cabinet manufacturers by giving larger exposure to producers who were confined to one geography.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Household Furniture and Kitchen Cabinet Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Household Furniture and Kitchen Cabinet Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Household Furniture and Kitchen Cabinet Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Household Furniture and Kitchen Cabinet Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Household Furniture and Kitchen Cabinet Market Trends and Strategies
8. Impact of COVID-19 on Household Furniture and Kitchen Cabinet
9. Household Furniture and Kitchen Cabinet Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Household Furniture and Kitchen Cabinet Market Regional Analysis
10.1. Global Household Furniture and Kitchen Cabinet Market, 2020, by Region, Value ($ Billion)
10.2. Global Household Furniture and Kitchen Cabinet Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Household Furniture and Kitchen Cabinet Market, Growth and Market Share Comparison, by Region
11. Household Furniture and Kitchen Cabinet Market Segmentation
11.1. Global Household Furniture and Kitchen Cabinet Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Household Furniture
- Kitchen Cabinet
11.2. Global Household Furniture and Kitchen Cabinet Market, Segmentation by Type of Material, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.3. Global Household Furniture and Kitchen Cabinet Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Household Furniture and Kitchen Cabinet Market Segments
12.1. Global Household Furniture Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – Wooden Household Furniture; Metal Household Furniture; Plastic Household Furniture; Other Household Furniture
12.2. Global Kitchen Cabinet Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) –
13. Household Furniture and Kitchen Cabinet Market Metrics
13.1. Household Furniture and Kitchen Cabinet Market Size, Percentage of GDP, 2015-2025, Global
13.2. Per Capita Average Household Furniture and Kitchen Cabinet Market Expenditure, 2015-2025, Global
Companies Mentioned
- IKEA AB
- Ashley Furniture Industries Inc
- Leggett & Platt Incorporated
- La-Z-Boy Incorporated
- Man Wah Holdings Limited
For more information about this report visit https://www.researchandmarkets.com/r/m6h2mc
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