Latest News- Wooden Furniture Market: Home is expected to lead the Application segment during 2025-2029

The Wooden Furniture Market is being driven by Growth of real estate and construction industry

The Wooden Furniture Market is expected to grow at a CAGR of 5.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 126.8 billion. In the furniture industry, there is a growing trend towards eco-friendly production in response to environmental concerns. Companies such as Enky, a furniture-as-a-service startup, are leading this charge. Despite premium pricing, demand for sustainable furniture continues to rise. In November 2024, Enky successfully raised an additional USD5.3 million through a crowdfunding campaign on its platform, Enky Invest. This funding enabled the introduction of new eco-friendly furniture offerings, including wooden pieces, into the market. Enky Invest offers investors the opportunity to fund sustainable furniture production and earn returns of 6%-8%. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Home
  • Office
• Distribution Channel
  • Offline
  • Online
• Type
  • Hardwood
  • Softwood
• Product
  • Chairs
  • Tables
  • Cabinets
  • Sofas & Couches
  • Beds
  • Storage Units
  • Outdoor Furniture
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of real estate and construction industry
• Rising demand for luxury furniture
• Replacement of wood with composite wooden furniture

However, the market also witnesses some limitations, which are as follows:

• Cost challenges faced by manufacturers and companies of wooden furniture
• Longer product replacement cycles
• Environmental concerns in extracting raw materials for wooden furniture

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Market Scope in Wooden Furniture Market Research Report

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Research Analysis Overview

The Wooden Furniture Market encompasses a range of products, including Hardwood and Softwood, catering to both Residential and Commercial sectors. Mass Market Players and Furniture Stores dominate the market, supplying Chairs, Tables, Cabinets, and more to various applications such as Offices, Hospitals, Hospitality infrastructure, and Commercial buildings. Mango wood, Sheesham wood, Rubber wood, Lamination, and Medium-density fiberboard are popular materials. Specialty stores offer Premium home interiors and Remodeling services for New Residential Construction.

Market Research Overview

The global home furnishings market encompasses businesses involved in the manufacturing and marketing of furniture, home decor, floor coverings, and appliances. According to Technavio, the market size is determined by the collective revenue generated by manufacturers and retailers of consumer electronics, furniture, decorative items, household appliances, and other homeware products. Key growth drivers for the home furnishings sector include the surge in residential and commercial construction projects, particularly in countries like the US, China, and India, as well as the increasing number of renovation initiatives. Both residential and commercial sectors contribute significantly to the demand for new furniture and high-quality joinery, with mass market players and furniture stores capitalizing on this trend to cater to diverse consumer preferences.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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