The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Eco-Friendly Furniture market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Eco-Friendly Furniture
The report offers actionable and valuable market insights of Eco-Friendly Furniture. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Eco-Friendly Furniture Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Eco-Friendly Furniture, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Eco-Friendly Furniture Market.
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Global Eco-friendly furniture Market: In-Depth Assessment on Key Segments
The global Eco-friendly furniture market is segmented on the basis of application, distribution channel, and region.
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Comapnies Profiled
- Vermont Woods Studios
- Cisco Bros. Corp.
- Manchester Woodcraft
- Lee Industries Inc.
- Williams-Sonoma Inc.
- La-Z-Boy Inc.
- Jiangxi Feiyu Bamboo Industry Group Co. Ltd.
- Moso International B.V.
- Shenzhen Vincent Handicraft Co.Limited.
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Circular Business Models to Shape Competition
The eco-friendly furniture market is highly competitive with the presence of many small and medium sized enterprises. Competition is driven by adoption of circular business models by market players. Long loop, clean loop, and cascading loop models are prevalent manufacturing and reproduction methods.
Certifications such as FTC certified wooden frames, and increasing adoption of reclaimed wood in public and private sector furniture products are a few sustainability measures. Companies are leveraging advanced industry 4.0 technologies to enhance production capacities. Penetration of high-potential regions using e-commerce methods of distribution is another factor that drives increased competition.
Key Takeaways of Eco-friendly Furniture Market Study
- Residential applications of eco-friendly furniture hold share-wide dominance with over 66% of the total market value. Consumer trends that focus on buying eco-friendly products, coupled with strong social media presence of market players drive demand from this application segment.
- Commercial applications is the highest growth application segment with a strong 7% CAGR through 2030. Corporate Social Responsibility initiatives to reduce the carbon footprint of offices contribute to the growth of eco-friendly furniture in commercial settings.
- Offline distribution channels account for the largest market value share with over 69% of total revenues. This can be attributed to the efficacy and effectiveness of physical representation in furniture buying decisions. Brands such as IKEA are an ideal example of the prominence of offline distribution channels.
- Digitization of economies across the globe is enhancing the reach of organizations. Hence, online distribution channels offer the most attractive revenues prospects with an impressive 7.5% CAGR from 2020 to 2030.
- Europe accounts for a big part of global sales with more than 35% share of the total market value. Emphasis on sustainable manufacturing and awareness regarding harmful effects of indoor volatile organic compounds are a few factors that drive growth in this region.
- South Asia & Oceania are catapulting the global eco-friendly furniture market with an astounding 8.6% CAGR during the forecast period. Investments in urban infrastructure development in Indonesia, Singapore, and Malaysia are central to growth of the eco-friendly furniture market.
Online Distribution Channels to Bolster Growth amid Covid-19 Pandemic
Advancements in material science to develop luxury eco-friendly furniture is a top demand driver for manufacturers. For instance, Shagreen when paired with treated glass forged from brass and brushed gold is gaining traction among consumers. Green building initiatives across the globe drive capacity expansion initiatives in strategic areas. Statutory certifications such as FSC certifications are helping manufacturers differentiate their product offerings. In a highly competitive landscape, creative digital marketing and e-commerce distributions channels offer a competitive edge to eco-friendly furniture organizations.
Further, with the world battling covid-19, consumer spending on e-commerce is expected to significantly contribute to future growth of the market. Since social distancing is being widely practiced, market players stand to realize sustainable growth from online distribution channels. Tracking the recovery of countries such as the US, and China will influence the speed of financial recovery among market players. Eco-friendly furniture manufacturers are devising contingency and recovery plans that present supply chain alternatives.
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More Valuable Insights on Eco-Friendly Furniture Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Eco-Friendly Furniture, Sales and Demand of Eco-Friendly Furniture, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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