The Business Research Company’s Household Furniture And Kitchen Cabinet Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, June 15, 2021 /EINPresswire.com/ — Increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, driving the growth of the furniture manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of household furniture and kitchen cabinet manufacturers by giving larger exposure to producers who were confined to one geography.
Major companies in the market include IKEA AB, Ashley Furniture Industries Inc, Leggett & Platt Incorporated, La-Z-Boy Incorporated, Man Wah Holdings Limited.
The household furniture and kitchen cabinet market consists of sales of household furniture and kitchen cabinets by entities (organizations, sole traders and partnerships) that produce household furniture including furniture for kitchens, bedrooms and living rooms. This market includes built-in kitchen cabinets. The household furniture and kitchen cabinet is segmented into household furniture and kitchen cabinet.
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The global household furniture and kitchen cabinet market is expected to grow from $282.6 billion in 2020 to $343 billion in 2021 at a compound annual growth rate (CAGR) of 21%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $426.7 billion in 2025 at a CAGR of 6%.
Asia Pacific is the largest region in the global household furniture and kitchen cabinet market, accounting for 51% of the market in 2020. North America is the second largest region, accounting for 20% of the global market. Africa is the smallest region in the global household furniture and kitchen cabinet market.
TBRC’s global household furniture and kitchen cabinet market analysis report is segmented by type into household furniture, kitchen cabinet, by type of material into metal, wood, others, and by distribution channel into online, offline.
Subsegments covered are wooden household furniture, metal household furniture, plastic household furniture, other household furniture.
Household Furniture And Kitchen Cabinet Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides household furniture and kitchen cabinet market overview, forecast household furniture and kitchen cabinet market size and growth for the whole market, household furniture and kitchen cabinet market segments, and geographies, household furniture and kitchen cabinet market trends, household furniture and kitchen cabinet market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire