Australia $7.76 Bn Furniture Market, Forecast & Opportunities to 2025

Dublin, Sept. 20, 2021 (GLOBE NEWSWIRE) -- The "Australia Furniture Market, 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The Australian Furniture Market was valued USD 7.76 Billion in 2019 and is predicted to be valued USD 8.78 Billion by 2025

Favorable economic factors such as rapid urban infrastructure developments, growing demand from residential as well as non-residential sectors coupled with encouraging government policies and low mortgage interest rates, have provided a conducive operating environment for furniture industry and pushed furniture demand through the years.

The Australian Furniture Market is driven by growing urban population and increasing spending pattern for comfortable lifestyle. Also, online availability of furniture for permanent or rental use is positively influencing the growth of the market over the next few years. However, volatile prices of raw materials used in the manufacture of furniture can hamper the growth of the market.

The Australian Furniture Market is segmented based on product type, point of sale, raw material type, company and region. Based on raw material type, the market is segmented into wood, plastic, metal and others.

Out of which, the wood segment dominated the market with share of 55.31% in 2019 and the segment is anticipated to maintain its leading position during the forecast period as well on account of the benefits offered by wood when compared to other materials such as high strength & durability, cost effectiveness, ease of maintenance, among many others. In terms of product type, the market is fragmented into home furniture, office furniture and institutional furniture.

The home furniture segment is estimated to grow at a high pace in over the years to come which is attributable to growing demand for furniture in living room and bedroom.

Major companies are adopting competitive strategies such as product innovation and increasing presence in the country in order to register sound return.

The major players operating in the furniture market are

• IKEA Pty Limited

• Steelcase Australia Pty. Ltd

• Herman Miller (Aust.) Proprietary Limited

• Haworth Australia Pty Limited

• Greenlit Brands Pty Limited

• HNI Corporation

• Knoll Inc.

• Sebel Pty Ltd.

• Schiavello Group Pty. Ltd

• Harvey Norman Holdings Limited

• BFX Australia Pty Ltd

• Amart Furniture Pty Ltd

• D D K Commercial Interiors Pty Ltd

• Bentons Kitchens Pty Ltd

• AKD Softwoods Pty Ltd

• Chiswell Furniture Pty Ltd

• Forty Winks Franchising Pty Ltd

• Furnware Group Pty Ltd

• Fuller Furniture

Report Scope:

Years considered for this report:

• Historical Years: 2015-2018

• Base Year: 2019

• Estimated Year: 2020

• Forecast Period: 2021-2025

Australia Furniture Market, By Product Type:

• Home Furniture

• Office Furniture

• Institutional Furniture

Australia Furniture Market, By Point of Sale:

• Exclusive Showrooms

• Supermarkets/Hypermarkets

• Online

• Others

Australia Furniture Market, By Raw Material Type:

• Wood

• Plastic

• Metal

• Others

Australia Furniture Market, By Region:

• New South Wales

• Victoria

• Queensland

• Western Australia

• Northern Territory & South Australia

• Tasmania

For more information about this report visit https://www.researchandmarkets.com/r/8cdl0g

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900