Furniture made of wood is gaining popularity across geographies. From small-sized houses to commercial spaces and hotels, there is an increased want for wooden furniture. Functional and in innovative designs, furniture made of wood are not only comfortable, but also adds to the ambience.

North America is currently the biggest market wood furniture market both in the residential as well as the commercial space. Over the next five years, the market in North America and Europe is, however, expected to slow down on account of saturation and APAC is tipped to emerge as the fastest growing market.

Global Wood Furniture Market: Insight

According to a market research report, Wood Furniture Market – Global Outlook and Forecast 2017 – 2023, by Arizton Advisory & Intelligence, the global market is expected to cross $ 74 billion by 2023, growing at an impressive CAGR of more than 2.6%.

Demand for luxury furniture, growth in real estate industry, increase in the millennials population, rapidly growing urban population, use of low cost furniture in APAC countries, preference of wood over other materials, growth in small-sized houses, and growth in tourism and hospitality industry are some factors that will drive the growth of the wood furniture market over the next five years. Rise in awareness toward preservation of forests and rise in working population in major markets will also be instrumental in driving the growth of the market.

Global Wood Furniture Market: Key Vendor Analysis

The major vendors profiled in the report are:

  • Ashley Furniture
  • Duresta Upholstery
  • IKEA
  • Giovanni Visentin
  • Laura Ashley
  • Williams-Sonoma,

The other prominent vendors include Amazon.com, Allied Trade Group, Costco, Godrej & Boyce, Herman Miller, HNI, J.C. Penny, Kimball International, Seers Holdings, Steelcase, Target Corporation, Tesco, Walmart, and Wayfair.

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