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Luxury Furniture Market Growth, Future Prospects & Competitive Analysis, 2016 – 2023

Presently, Europe is the largest market for luxury furniture followed by North America. The market in the Asia Pacific has a great potential A rise in disposable incomes, in the recent years, majorly contributed to the growth of the APAC market. The LAMEA region will also follow suit for the high demand for luxury furniture in its Hospitality sector. quote

Luxury furniture includes furniture manufactured with the help of high-quality materials and a sophisticated process. It enhances the beauty value of commercial as well as residential establishments. Increasing disposable income and increasing purchasing power of homes have inspired the demand for luxury furniture all over the world.

The global luxury furniture market is growing at a fast pace and is expected to achieve significant growth in the next seven years by 2023. Increasing online sales of the real estate sector has increased and it is expected that in the period of 2016, the growth of the luxury furniture market will be encouraged. -2023.

At present, Europe’s area has occupied the maximum share of luxury furniture market revenue and is predicted to dominate the forecast period. Changes in fashion and lifestyle with increasing urban populations have strengthened the development of the region in the last few years. Real estate development, especially in the growing number of residential and commercial buildings in India and China, is expected to expand the development of Asia Pacific luxury furniture market by 2023.

The global luxury furniture market is mainly centered in Europe. Major players are adopting different market strategies to enter and increase their market position and distribution network.

This report contains estimates of market size for value. Both top-down and bottom-up methods have been used to estimate and validate the size of the luxury furniture market.

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