Consumer & Luxury Goods Market Research News

New report: Global furniture market to reach USD 550 billion by 2024

Consumer Market Research

Global furniture market valued more than USD 400 billion in 2016 owing to rising sales in growing economies.

According to Goldstein Research, global furniture market is expected to reach USD 550 billion by the end of 2024 from USD 400 billion in 2016, growing at a CAGR of 4.2%. Global furniture market is driven by growing urbanization and simultaneously rising personal disposable income of people.

Global furniture market segmentation has been done on the basis of product type, by material type, by end-user, by distribution channel and geography. Furniture market is developing with the rise in personal and office space construction, mainly in urban areas.