Furniture Industry

Furniture Industry

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Furniture Industry Literated Market Research: Despite Timber Shortage, Global Furniture Market Expected to Grow at 3.53% till 2016 The global furniture market growth is expected to be at a CAGR of 3.53 percent till 2016.

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Published 17 September 2015
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Furniture Industry
Literated Market Research: Despite Timber Shortage, Global Furniture Market Expected to Grow at 3.53% till 2016
The global furniture market growth is expected to be at a CAGR of 3.53 percent till 2016. In 2014, the combined total value of the worldfurniture market$455 billion, calculated at was production prices. The Consumption demand is expected to grow by 3% by the end of the present year and this trend is expected to continue through to 2016. The industry outlook for the distribution of the growth expectations, includes stability in the demand and growth in Western Europe, moderate increase in demand and growth in North America and fast increasing market demand for furniture and consequent growth in many emerging market economies, particularly in Asia. The industry outlook for the distribution of the growth expectations, includes stability & a moderate increase in the demand and growth in Western Europe & North America respectively. There is a fast increasing market demand for furniture and consequent growth in many emerging market economies, particularly in Asia The boom in the Real Estate industry is viewed as one of the key factors contributing to this market demand and growth. There has been a steady and significant growth in the global Real Estate industry in recent years. People are investing more in real estate for home and office space aided by the growing economy. The demand in the furniture industry globally, is being fueled by this development in the real estate industry. However, one factor that can act as a hindrance to the trend would be the possible shortage of timber which could result in a slight decline in thewooden furniture segment. The rapid deforestation due to high consumption is the main reason for this shortage. There is a demand for wood products as the world population grows and economies develop. This results in deforestation, which has caused a decline in the sales of timber furniture.
Another difficulty for the wooden furniture segment is the increasing demand by both consumers as well as manufacturers of products specifically tailored to individual requirements, which are demanded to be delivered fast and at low costs. This is a challenge that the wooden furniture industry has to meet up despite the decreasing availability of timber, in order to grow at the same rate as the other segments of the global furniture market. This trend applies to interior fittings and wood materials as well as timber construction and small wood parts. To successfully navigate this challenge, the wooden furniture industry needs to be flexible and meet individual customer requirements, despite high personnel and raw material costs through efficient manufacturing. For more reports on Furniture market visit
https://literated.com/industry/FurnitureAbout Literated.com
Literated.com is a one stop market research and e-commerce platform catering to the needs of businesses and knowledge workers who are dependent on market research information for their work. Visithttps://literated.comfor more info.