Authored By: Sarah
11 Jul 2024

 Poufs Market Size to grow by USD 150.55 million between 2024-2028

According to a research report “ Poufs Market” by Distribution Channel (Offline, Online) Application (Residential, Commercial) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 150.55 million, at a CAGR of  4.19% during the forecast period. The global poufs market is experiencing significant growth due to the expansion of the real estate sector and increasing construction activities in developed and emerging economies. In developed markets like the US, substantial investments in infrastructure development are anticipated, driving the demand for furniture products, including poufs. In emerging economies such as India, the potential for 100% Foreign Direct Investment (FDI) in townships and settlement projects is projected to surge the demand for furniture items during the forecast period. Government initiatives like the Smart Cities Mission, Pradhan Mantri Awas Yojana (PMAY), and the Sardar Patel National Urban Housing Mission in India are expected to increase urban population, thereby fueling the market growth.

Browse market data tables, figures, and in-depth TOC on “Poufs Market” by Distribution Channel (Offline, Online) Application (Residential, Commercial) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

In the global poufs market, the residential segment held the largest market share in 2023. Poufs are versatile seating solutions that significantly enhance the decor of living areas. These multifunctional pieces are offered in various shapes, each catering to unique design requirements. Round poufs, for instance, serve as additional seating, footrests, or even as tray-top tables. Square poufs are ideal for contemporary and minimalist living spaces, functioning effectively as coffee tables or extra seating. Ottoman poufs, with their removable lids, offer concealed storage solutions. Rectangular poufs add an element of sophistication to any living area, while tufted poufs contribute a distinctive texture and visual appeal.

By Application, Residential  segment is expected to hold the largest market size for the year 2024

The global poufs market exhibits a significant offline customer base, given the tangible benefits of purchasing these items in physical stores. This segment's sizeable presence is attributable to the availability of a broad range of poufs in furniture retailers, shops, and luxury brand outlets. Sales personnel in these establishments possess extensive product knowledge, enabling them to provide comprehensive information on the technical specifications, features, advantages, quality, and pricing of poufs to potential buyers. Companies like Godrej and IKEA have expanded their offline presence with numerous stores worldwide to cater to customers who prefer to inspect the quality and test the features of poufs before making a purchase.

North America is forecasted to hold the largest market size by region in 2024

The poufs market in North America is experiencing robust growth, primarily driven by the expanding residential and commercial construction sectors in key countries such as the US and Canada. These nations serve as the largest importers of poufs in the region. The real estate and commercial leasing industries have witnessed substantial growth, leading to an increase in commercial properties. Consequently, the demand for office furniture, including poufs, has surged in response to the burgeoning economy, the trend towards modern workspaces, and the shift in work culture.

The Poufs Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbyson Living LLC
  • Artisanal Abode
  • Ashley Global Retail LLC
  • Century Furniture LLC
  • Dunns Furniture
  • Ethan Allen Interiors Inc.
  • FurnitureRoots
  • Giessegi Industria Mobili Spa
  • Godrej and Boyce Manufacturing Co. Ltd.
  • HNI Corp.
  • hulsta werke Huls GmbH and Co. KG
  • Inter IKEA Holding BV
  • LaZBoy Inc.
  • MillerKnoll Inc.
  • Nitori Holdings Co. Ltd.
  • Restoration Hardware Inc.
  • ROCHE BOBOIS SA
  • Roomstogo.com Inc.
  • Steelcase Inc.
  • Wayfair Inc.
.

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Research Analysis Overview

Title: Poufs Market: Commercial Development, Increasing Demand, and Latest Trends The global Poufs market is witnessing significant commercial development due to its versatility and affordability. At the country level, the demand for poufs is on the rise in regions like Europe and North America, where they are increasingly being used in offices and homes. Leading manufacturers like IKEA, Herman Miller, and Steelcase are driving the market with their advanced poufs, which come in various materials such as wooden, metal, and fabric. The cost of these poufs varies depending on the material and design. Regional insights suggest that the Asia Pacific region is expected to witness the fastest growth in the poufs market due to infrastructure development and increasing disposable income. The latest trends include the use of poufs as seating solutions in coworking spaces and outdoor areas. Driving factors for the market include the increase in variety and advanced versatility of poufs, which make them a popular choice for both families and offices. However, market distortion due to the shutdown of industries in some regions may impact the market growth. In conclusion, the poufs market is poised for growth due to commercial development, increasing demand, and latest trends. Despite some challenges, the future looks bright for this versatile and affordable seating solution.

Market Research Overview

The Poufs Market has experienced both positive and negative changes in recent years. Negative changes include market distortion due to government spending and regulations, leading to increased costs for intermediaries and end consumers. Macroeconomic analysis using Porter's 5 Forces' Framework reveals intense competition among leading manufacturers, threatening profitability. However, there are also positive changes. Government spending on infrastructure development has created new opportunities for commercial development in various regions. The increase in variety and advanced versatility of poufs has broadened their applications beyond traditional uses in offices and homes, to include outdoor spaces and events. Social and political scenarios, such as the shift towards sustainable materials and changing consumer preferences, are driving factors in the poufs market. Product pricing remains a critical factor, with wooden, metal, and fabric poufs catering to different price points. At the country level, regional insights reveal significant demand for poufs in emerging markets like China and India, while mature markets like the US and Europe continue to dominate. Latest trends include the use of eco-friendly materials and customizable designs. However, the shutdown of some industries due to the pandemic may impact the poufs market's growth. Overall, the poufs market scope is vast and continues to evolve with changing consumer needs and market dynamics.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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