Little Known Ways To Make The Most Out Of Furniture Market Size in 2019

The global furniture market size is expected to grow at a CAGR of 4.54% during the forecast period. Based on the product, the global furniture market has been segmented into home furniture, office furniture, and other commercial furniture. 

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The home furniture segment is primarily driven by the onset of urbanization in emerging economies such as China and India. As more people are shifting to urban areas in these economies, they are more likely to purchase furniture and furnishings for their homes, thus driving new product sales in the market. The rising income levels among consumers improve their living standards, which increases the consumption of premium living room, bedroom, or other furniture and furnishing products. 

From a product perspective, the demand for multifunctional furniture, which comes with additional functionalities such as embedded storage, is estimated to drive the home furniture segment. The advent of small single-person urban dwellings has driven the demand for compact and movable home furniture, which drives the growth of the home furniture segment in the global furniture market size during the forecast period. 

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