Luxury Furniture Market

Luxury Furniture Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The luxury furniture market size is expected to reach US$ 42.05 Billion by 2032.

The luxury furniture market is expected grow at a CAGR of 5.9% from 2023 to 2032.

The luxury furniture market size was estimated to be US$ 23.71 Billion in 2022.

The global luxury furniture market is being driven by several key factors including urbanization and changing consumer lifestyles have led to an increased demand for multifunctional and space-saving luxury furniture products and technological advancements in manufacturing processes have made it possible to create complex and intricate luxury furniture designs with greater precision and at a lower cost.

The largest material type is wood in the luxury furniture market. Wood is a classic and timeless material that has been used in furniture for centuries.

Europe is the largest luxury furniture market globally, with Italy being the largest contributor to the region's growth. The market is driven by a strong demand for high-quality and innovative furniture, with a focus on luxury and sophistication.

The United States is the largest market in this region, followed by Canada. In recent years, the market has seen a shift towards more minimalist and contemporary designs, as well as a growing demand for smart furniture.

Bernhardt Furniture Company, Christopher Guy, Duresta Upholstery Ltd., Heritage Home Group LLC, Herman Miller, Inc., Hooker Furniture Corporation, Hulsta-Werke Huls GmbH & Co. KG, Kartell Spa, Knoll, Inc., Minotti S.p.A., Molteni & C S.P.A., Poltrona Frau Group, Restoration Hardware Holdings Inc., Scavolini S.p.A., William-Sonoma, Inc. among others, are the major players in this market.