APAC Wooden Furniture Market size is poised to cross USD 280 billion by 2027, according to a latest forecast report by Graphical Research. Rising investment in residential construction coupled with transitioning consumer behavior are considered the market growth.
Infrastructure development along with supportive funding for housing projects by government bodies will provide potential growth prospects for business expansion across the region. Furthermore, the surge in housing projects in order to cater to the needs of the growing population in the region and rapid urbanization is positively influencing the adoption of wooden furniture products. Manufacturers are also playing a key role in bringing out more consumers. They are offering multiple services with investment in technologies including, 3D tools and VR headset visualization. Ashley Furniture Industries offers a “Room Planner” to fuel its revenues. Cumulatively, these trends are expected to augment the market size.
On the other hand, the lack of efficiency in production processes and operations across the entire supply chain may pose a challenge to market growth. In addition, the ongoing COVID-19 pandemic is further disrupting the growth by sending shockwaves across the supply chain. However, the recovering regional economy and the resuming construction activities are indicating a positive outlook in the future.
Browse detailed statistical insights from the report, “Asia Pacific Wooden Furniture Market Forecast 2027 By Application (Residential [Upholstered Furniture, Non-Upholstered Furniture, Bedroom, Kitchen Cabinet, Dining Room], Commercial [Business/Office, Educational, Healthcare, Hospitality]), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The residential segment dominated over 65% market share in 2020. The increasing urbanization and healthy economic conditions are significantly impacting the residential furniture demand over the forecast timeframe. The ready-to-assemble and multi-functional wooden products are further contributing to the home interior enhancement, thereby, fueling the market expansion. In the residential market, demand for wooden furniture for bedroom applications is anticipated to showcase high growth potential during the projection timeline.
Furthermore, China is a key product consumer in the Asia Pacific wooden furniture market and has maintained a dominating presence throughout the assessment period. Rising disposable income of individuals, improving lifestyles, rapid urbanization, and a steady improvement in economic conditions of the nation along with other countries, such as India and Vietnam will promote significant business growth, thereby, creating lucrative opportunities for market players in the region.
The APAC wooden furniture market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in thousand tons and revenue in USD Million from 2016 to 2027 for the following segments
Asia Pacific Market, By Application
- Upholstered furniture
- Non-holstered furniture
- Kitchen cabinet
- Dining room
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- Rest of Asia Pacific