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The wooden furniture market size is projected to grow by USD 49.3 billion, progressing at a CAGR of 2.73% from 2021 to 2026 according to a new report from Technavio. Based on region, the global wooden furniture market is segmented into North America, South America, Europe, APAC, and MEA. APAC is estimated to contribute 46% to the growth of the global market over the forecast period. The increase in office space owing to the rise in the number of corporate offices will facilitate the wooden furniture market growth in APAC over the forecast period.
Growth of the real estate and construction industries drives the growth
Increasing adoption of eco-friendly furniture is the key trend
This market research report segments the wooden furniture market by application (home and office) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
Source: Technavio technavio.com