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Recliner Sofa Market - Global Outlook and Forecast 2019-2024

1st Edition

SKU : ARZ190112
  • Published on : February 2019

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This market research report on the global recliner sofa market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by type (single-seater and multi-seater), by design (casual, traditional, contemporary, and others), by material (leather, fabric, and others), by control (manual and power), by distribution (specialty stores, supermarkets & hypermarkets, branded stores, online channels, discount stores, and others), by end-user (domestic, corporates, and others), and by geography (North America, APAC, Europe, Latin America, and ROW).

Recliner Sofa Market - Overview

The exponential growth of the furniture industry due to stabilizing economy and growing consumer confidence across developed and emerging nations will augment the growth of the global recliner sofa market. The increasing spending on home furnishing products will boost the demand for recliners in the worldwide market. The growing disposable income, higher standards of living, rapid urbanization, rise in dual-income households, and growing need for comfort and convenience are some of the primary factors attributing to the growth of the market. The increasing availability of cheap labor and abundant raw materials across China, India, Vietnam, Indonesia, and Malaysia is encouraging the vendors to set-up production facilities in these countries. The leading manufacturers are continuously upgrading their manufacturing facilities and design capabilities, and enhance the awareness of the manufacturer’s brands to maintain a leading position in the market. The increasing competition between high-end upholstered companies in the US and Europe will lead to the launch of new products in the market. The growing focus on launching new products, working on improving textiles, and manufacturing crafts will help players increase their profitability in the global market. The improving real estate and housing markets, high demand for premium products, rapid urbanization, and rising demand for furnished apartments are fueling the demand for premium products in the market. The leather is the most demanded and premium products that are available in the market. The extensive use of these sofa sets across cinema theaters, waiting for lounges at airports, salons, spas, and massage parlors will contribute to the revenues in the global recliner sofa market.

The rapid change of lifestyle, improvement in living conditions, high-spending sentiments, awareness of the latest technology, reduced insecurity, and greater confidence will fuel the growth of the global market. The growth of the travel and tourism industry and other related sectors such as hospitality, food and beverages, retail, real estate, and logistics industries will create new investment avenues in the market. The global recliner sofa market is anticipated to reach revenues of more than $33 billion by 2024, growing at a CAGR of over 6% during 2018-2024.

Recliner Sofa Market –Dynamics

The rising trend of fully furnished apartments is changing the industry landscape and driving the transformation of the global recliner sofa market. Millennials and baby boomers are now focusing on renting furniture that helps them embrace a “hands-free” lifestyle of mobility and adventure. Furnished apartments offer that solution and match the latest trends of modern furniture styles as desired by the end-users in the global market. The market witnessed higher demand for power recliners, which allows the consumer to relax comfortably and can move the arms and footrest according to their convenience. Communities are offering furnished apartments majorly targeting the mobile consumer group and offering more flexible leases. Moreover, the furnished apartments now offer professionally designed units, with modern, high-quality furniture and décor that includes even bedding and homeware to provide both luxury and comfort to the end-user. Such benefits of furnished apartments will in turn, positively impact the development of the global recliner sofa market over the next few years.

Recliner Sofa Market – Segmentation

This market research report includes a detailed segmentation of the market by type, design, material, control, distribution, end-user, and geography.

Global Recliner sofa Market segments 2024

Recliner Sofa Market – By Type

Use of single-seater models across airports, lounges, and other waiting areas will drive the global recliner sofa market

The global recliner sofa market by seat type is segmented into single-seater and multi-seater. Single-seater segment dominated more than half of the total market share, growing at a CAGR of around 6% during the forecast period. The growing number of single-person households is one of the primary drivers of the growth of this segment in the global market. The increase in disposable income and affinity towards luxury and stylish products will encourage the consumers to invest in these products in the market. The rising number of airports, lounges, and other waiting areas will drive the demand for single-seater sofas in the global market. In the US, the total number of single-head households was estimated at 36% in 2018. Such changes in the lifestyle will contribute to the growth of this segment in the global recliner sofa market.

The replacement of older sofas with new and stylish recliners and rising living standards is fueling the demand for multi-seater sets in the market. Western markets such as the US, the UK, Germany, France, and Italy are the largest revenue generators in the multi-seater segment in the global recliner sofa market.

Recliner Sofa Market – By Design

Consumers are matching their home décor with causal style furniture in the global recliner sofa market

The design segment in the global recliner sofa market is classified into casual, traditional, contemporary, and others. Casual designs are the fastest growing segment in the worldwide market, at a CAGR of approximately 7% during the forecast period. The growing demand for casual designs in both the domestic and commercial set is augmenting the growth of this segment in the global market. The consumers who are doing interior designing for their homes and matching the recliners with the home color and interiors prefer designer variants. North America contributes the highest revenues for causal designs in the global market.

The traditional style sofas are the second largest segment in the global market. The different style preferences of the millennial and Gen X population is driving the demand for contemporary style furniture in the market. APAC is the fastest growing region in the other style segment in the global market.

Recliner Sofa Market – By Material

Leather sofas the most popular and highest demanded products in the global recliner sofa market

The global recliner sofa market by the material is categorized into leather, fabric, and others. Leather segment occupied the largest market share in 2018, growing at a CAGR of over 7% during the forecast period. The premium quality and durability associated with leather goods is driving the growth of this segment in the global market. The increasing popularity and higher demand among consumers are fueling the profitability of the leather material segment in the market. The leather is considered as a sustainable material and naturally last much longer than any other materials in the global market. Moore & Giles, Universal Leather, Conneaut Leather, and Crest Leather are some of the major leather suppliers for furniture in the global recliner sofa market.

The increasing demand for durable, stain resistant and stylish fabric furniture is augmenting the demand in this segment. The manufacturers are offering engineered textiles with enhanced performance capabilities to attract new consumers in the market. Some of the other popular materials used in the global market are faux leather, micro-fiber, and vinyl.

Recliner Sofa Market – By Control

The trend of premiumization is fueling the demand for power-controlled furniture in the global recliner sofa market

The control type segment in the global recliner sofa market is divided into manual and power. Power control type is the fastest growing segment in the global market, at a CAGR of around 7% during the forecast period. Power sofas offer the benefit of easy to move the various component of the sofa according to one’s function and usage. The growing trend of automation and a desire for more convenience is fueling the demand for these products in the global market. The rising trend of premiumization is contributing to the revenues of this segment in the market. The developed regions such as the US, the UK, Germany, and Japan have the highest demand for power-controlled furniture in the global recliner sofa market.

The growing availability of manually operated sofas coupled with huge sales discount is driving the growth of this segment in the market. The considerable demand for stationary recliner sofas made of fabric and other materials will contribute to the profits in the global market.

Recliner Sofa Market – By End-User

The exponential boom of the housing industry will create lucrative opportunities in the global recliner sofa market

The global recliner sofa market by end-users is segmented into domestic, corporates, and others. Domestic segment dominated the majority of the market share in 2018, growing at a CAGR approximately 6% during the forecast period. The increasing demand for home furniture with a perfect blend of luxury and comfort is fueling the growth of this segment in the global market. With the availability of a wide range of styles and fabrics, vendors can attract the maximum number of consumers in the market. The growing number of housing colonies, coupled with the booming housing industry will propel the development of the global recliner sofa market.

The various furniture used in offices with must have qualities such as style, luxury, status, and comfort will augment the growth of this segment in the market. Hotels & resorts, restaurants, airports, cinema theaters, hospitals, parlors and salons, and malls are some of the other end-users in the global market.

Recliner Sofa Market – By Distribution

Online channels emerge as the game changers in the global recliner sofa market

The distribution segment in the global recliner sofa market is divided into specialty stores, supermarkets & hypermarkets, branded stores, online channels, discount stores, and others. The online segment is revolutionizing the distribution network in the global market. The increasing penetration and significant benefits such as cost, product features, brand reputation, and post-sale services are augmenting the growth of this segment in the global market. The online channel is a game changer for the distribution of these products in the worldwide recliner sofa market. Amazon, a global online retailer, had a 37% retail e-commerce market share in the US in 2017, which is projected to reach 50% by 2021. Specialty stores dominated the total market share in 2018 and are considered as a one-stop destination for all kinds of home furnishing products across the global market.

Recliner Sofa Market – By Geography

Westernization and the growing impact of the social media across APAC will fuel development in the global recliner sofa market

The global recliner sofa market by geography is classified into North America, APAC, Europe, Latin America, and ROW. APAC is one of the fastest growing regions in the global market, at CAGR of around 8% during the forecast period. The growing disposable income, westernization, and the increasing impact of social media are the key factors attributing to the growth of the APAC region in the global market. The increasing awareness about various furniture will encourage leading vendors to invest in the APAC market. The higher spending on home furnishing, interior decoration, luxurious products, and entertainment across the APAC region will fuel the growth of the global recliner sofa market.

The rise in the number of hospitals and the growing demand for premium furniture in North America will contribute to the revenues in the market. The UK, France, Spain, Italy, and Germany are the leading European regions in the global market.

The key countries profiled in the report are:

  • US
  • Canada
  • China
  • Japan
  • South Korea
  • Germany
  • France
  • UK
  • Brazil
  • Mexico
  • GCC
  • South Africa

Key Vendor Analysis

The global recliner sofa market is witnessing intense competition among the leading players operating the space. The top vendors are focusing on continuous innovations and upgrades to meet the dynamic consumer demands in the global market. The companies are competing on the basis of features, quality, and technology in the market. The players are investing in the development of new technology to sustain the competition level in the global recliner sofa market.

The major vendors in the global market are:

  • Ashley Furnitures Industries
  • Man Wah Holdings
  • La-Z-Boy
  • Steinhoff International

Other prominent vendors include American Leather, Anji Jinkun Furniture Co., Ltd., Ekornes ASA, Haverty Furniture Companies, Jackson Furniture Industries, Jaymar, Klaussner Home Furnishings, and Natuzzi.

Key market insights include

  1. The analysis of global recliner sofa market provides market size and growth rate for the forecast period 2019-2024.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global recliner sofa market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of global recliner sofa market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.

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