(MENAFN- EIN Presswire) EINPresswire/ -- According to a new report published by Allied Market Research, titled,“furniture market " was valued at $556.3 billion in 2023, and is projected to reach $840.5 billion by 2034, growing at a CAGR of 4% from 2024 to 2034.

Furniture comprises movable objects designed to support human activities such as seating, sleeping, and storage. It is classified in different types that include chairs, tables, beds, sofas, cabinets, and desks. Chairs & sofas provide seating, tables facilitate dining & work, beds offer a place for rest, and cabinets & desks provide storage & organization solutions. It enhances functionality, comfort, and aesthetic appeal in homes, offices, and public spaces. Its design reflects cultural and stylistic trends, often serving as a medium for artistic expression. Quality furniture balances form & function and contributes to the overall atmosphere and usability of a space.

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The Study Will Help the Readers-

1. Acknowledge the complete market dynamics.

2. Inspect the competitive scenario along with the future market landscape with the help of different strictures such as Porter's five forces and parent/peer market.

3. Understand the impact of government regulations during the Covid-19 pandemic and evaluate the market throughout the global health crisis.

4. Consider the portfolios of the major market players operational in the market coupled with the comprehensive study of the products and services they offer.

The Furniture Market Analysis is done on the basis of type, material, distribution channel, and region. On the basis of type, the market is divided into residential, office and outdoor furniture. As per material, the market is segregated into wood, metal, plastic. On the basis of distribution channel, the market is bifurcated into online sales channels and offline stores. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

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Players operating in the global furniture market have adopted various developmental strategies to expand their furniture market share, increase profitability, and remain competitive in the market. Key players profiled in this report include InterIKEA Group
Ashley Furniture Industries Inc.
Durham Furniture Inc.
American Signature
Raymour & Flanigan
Jason Furniture (HangZhou) Co., Ltd
Oppein Home Group Inc.
La-Z-Boy Inc.
Kimball International
Williams-Sonoma, Inc.

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KEY FINDINGS OF STUDY

By type, the residential segment was the highest revenue contributor to the market in 2023.?

Depending on material, the wood segment was the dominant segment in the global furniture market during the furniture market analysis period.??

On the basis of distribution channel, the offline stores segment was the major revenue generator in 2023.?

Region wise, Asia-Pacific was the highest revenue contributor in 2023.?

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