Luxury Furniture Industry Regional Analysis, Key Players, Opportunities,
Market Analysis The Luxury Furniture Industry is likely to touch USD 183 billion at a 3.14% CAGR between 2019- 2024 , as per the recent report by Market Research Future (MRFR). Luxury furniture, simply put, are furniture of elite designs and quality. They are crafted out of different materials such as lacquered panels, laminates, finished foils, wrapped panels, steel, glass, melamine, and wood, which help to add aesthetic value to offices, hotels, homes, or other outdoor/indoor areas. Various factors are adding to the Luxury Furniture Industry growth. According to the new MRFR report, such factors include the booming real estate industry, globalization, movement of people to the urban areas from the rural areas and increasing personal disposable income. Additional factors adding market growth include rising environmental consciousness, growing demand for eco-friendly luxury furniture, increasing penetration of online retailing across the world, and change in lifestyle. On the contra