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Household Furniture And Kitchen Cabinet Global Market Report 2022

Household Furniture And Kitchen Cabinet Global Market Report 2022

  • April 2022
  • 250 pages
  • ID: 6251063
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the household furniture and kitchen cabinet market include Ashley Furniture Industries Inc., Masco Corporation, Man Wah holdings, La-Z-Boy, Hooker Furniture Corp., Leggett & Platt Incorporated, Samson Holding Ltd., Knoll Inc., Ethan Allen Interiors Inc., and Flexsteel Industries Inc.

The global household furniture and kitchen cabinet market is expected to grow from $327.78 billion in 2021 to $355.72 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to grow to $471.51 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%.

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 main types of household furniture and kitchen cabinet are household furniture and kitchen cabinet.Household furniture refers to all mobile, compactable goods or machinery used to furnish a home, such as chairs, tables, sofas, mattresses, and so on.

The different types of materials include metal, wood, others and is distributed through various channels such as online, offline.

Asia Pacific was the largest region in the household furniture and kitchen cabinet market in 2021.Western Europe was the second largest region in the household furniture and kitchen cabinet market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the household furniture and kitchen cabinet manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the household furniture and kitchen cabinet manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy

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

The countries covered in the household furniture and kitchen cabinet market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

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