Global furniture market size reached USD 545.78 billion during 2020 and is expected to witness around 5.4% CAGR up to 2027 with consistent demand from residential applications, says this GMI report.
Furniture industry share form offline distribution channel is expected to cross USD 647 billion by 2027 as a large number of people prefer the experience of selecting products after physical inspection and feel.
Metal furniture held around 10% share of global furniture market in 2020 owing to numerous possibility of customization, resistance to stress and other benefits.
APAC furniture market had reached USD 270 billion value in 2020 and will expand due to increased residential demand, spending on building smart cities and availability of cheaper workforce.