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 catapulting 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
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.
Key Country-wise Inclusions
• US Eco-Friendly Furniture Market
• Canada Eco-Friendly Furniture Market Sale
• Germany Eco-Friendly Furniture Market Production
• UK Eco-Friendly Furniture Market Industry
• France Eco-Friendly Furniture Market
• Spain Eco-Friendly Furniture Market Supply-Demand
• Italy Eco-Friendly Furniture Market Outlook
• Russia & CIS Market Analysis
• China Eco-Friendly Furniture Market Intelligence
• India Eco-Friendly Furniture Market Demand Assessment
• Japan Eco-Friendly Furniture Market Supply Assessment
• ASEAN Eco-Friendly Furniture Market Scenario
• Brazil Eco-Friendly Furniture Market Sales Analysis
• Mexico Eco-Friendly Furniture Market Sales Intelligence
Report Benefits & Key Questions Answered
- Eco-Friendly Furniture Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Eco-Friendly Furniture Market Historical volume analysis: The report provides a comparison of Eco-Friendly Furniture Market historical sales and projected sales performance for 2021-2031.
- Eco-Friendly Furniture Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Eco-Friendly Furniture Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Eco-Friendly Furniture Market Consumption by demographics: The report investigates consumer behavior affecting Eco-Friendly Furniture Market demand outlook for the assessment period. Effect of their keenness for digital trends on Eco-Friendly Furniture Market is carefully analyzed
- Post COVID consumer spending on Eco-Friendly Furniture Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Eco-Friendly Furniture Market growth.
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