Eco-Friendly Furniture Market is Expected to Witness Healthy Growth at 6% CAGR through 2030

Eco-Friendly Furniture Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Global Eco-friendly furniture Market – Scope of the Report

The following report provides forecast and analysis of the global Eco-friendly furniture market along with the historical data of 2015, estimated data 2020 and forecast data up to 2030 in terms of value (US$ Mn), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global Eco-friendly furniture market along with several macro-economic indicators. This newly published and insightful report on Eco-friendly furniture sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global Eco-friendly furniture market.

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The report also comprises the study of current issues with end users and opportunities for Eco-friendly furniture. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of Eco-friendly furniture manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the Eco-friendly furniture market provided in the report adds to the credibility of this exhaustive research study.

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Global Eco-friendly furniture Market: In-Depth Assessment on Key Segments

The global Eco-friendly furniture market is segmented on the basis of application, distribution channel and region.

Application
  • Residential
  • Commercial
Distribution Channel
  • Offline
  • Online
Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

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Modernization and incorporation of sustainable residential furniture in developing countries such as Indonesia, India, and China is set to drive sales of eco-friendly furniture. The global eco-friendly furniture market will grow 1.8X during the projection period (2020- 2030). Advancements in material science that increases product durability and recyclability are primary reasons for consumer adoption of eco-friendly furniture. Innovative business strategies such as circular business models using reclaimed wood provide the much needed strength for healthy growth of the market. Market players are leveraging industrial automation to increase production. Prevalence of e-commerce in developing countries presents gainful opportunities for eco-friendly furniture manufacturers.

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Key Takeaways of Eco-friendly Furniture Market Study

  • Residential applications of eco-friendly furniture hold share-wide dominance with over 66% of the total market value. Consumer trends that focus on buying eco-friendly products, coupled with strong social media presence of market players drive demand from this application segment.
  • Commercial applications is the highest growth application segment with a strong 7% CAGR through 2030. Corporate Social Responsibility initiatives to reduce the carbon footprint of offices contribute to the growth of eco-friendly furniture in commercial settings.
  • Offline distribution channels account for the largest market value share with over 69% of total revenues. This can be attributed to the efficacy and effectiveness of physical representation in furniture buying decisions. Brands such as IKEA are an ideal example of the prominence of offline distribution channels.
  • Digitization of economies across the globe is enhancing the reach of organizations. Hence, online distribution channels offer the most attractive revenues prospects with an impressive 7.5% CAGR from 2020 to 2030.
  • Europe accounts for a big part of global sales with more than 35% share of the total market value. Emphasis on sustainable manufacturing and awareness regarding harmful effects of indoor volatile organic compounds are a few factors that drive growth in this region.
  • South Asia & Oceania are catapultin the global eco-friendly furniture market with an astounding 8.6% CAGR during the forecast period. Investments in urban infrastructure development in Indonesia, Singapore, and Malaysia are central to growth of the eco-friendly furniture market.

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Online Distribution Channels to Bolster Growth amid Covid-19 Pandemic

Advancements in material science to develop luxury eco-friendly furniture is a top demand driver for manufacturers. For instance, Shagreen when paired with treated glass forged from brass and brushed gold is gaining traction among consumers. Green building initiatives across the globe drive capacity expansion initiatives in strategic areas. Statutory certifications such as FSC certifications are helping manufacturers differentiate their product offerings. In a highly competitive landscape, creative digital marketing and e-commerce distributions channels offer a competitive edge to eco-friendly furniture organizations.

Further, with the world battling covid-19, consumer spending on e-commerce is expected to significantly contribute to future growth of the market. Since social distancing is being widely practiced, market players stand to realize sustainable growth from online distribution channels. Tracking the recovery of countries such as the US, and China will influence the speed of financial recovery among market players. Eco-friendly furniture manufacturers are devising contingency and recovery plans that present supply chain alternatives.

Find More Valuable Insights on Eco-friendly Furniture Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the eco-friendly furniture market, presenting historical demand data (2015-2019) and forecast statistics for the period 2020-2030. The study divulges compelling insights on the eco-friendly furniture market on the basis of applications (residential and commercial), distribution channels (online and offline), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

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