The global luxury furniture market, valued at "US$ 24.40 billion" in 2024, is projected to hit "US$ 41.20 billion" by 2033, growing at a "6.01% CAGR," according to Astute Analytica. This surge is fuelled by rising disposable incomes, a booming real estate sector, and expanding e-commerce platforms offering immersive digital experiences like AR showrooms.
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Wood remains the most dominant material, accounting for "35% of revenue," with high-end walnut, oak, and teak leading bespoke designs. Living room pieces, particularly iconic items such as RH's Cloud Sofa and the Eames Lounge Chair, continue to dominate sales.
North America maintains strong demand, while Asia Pacific emerges as the fastest-growing market, driven by urbanisation, wealth creation, and sustainability preferences. Europe, with its rich design heritage, holds over "38% of market share," cementing its role as a global design influencer.
Key brands, including Duresta, SCAVOLINI, and Turri, are leveraging craftsmanship, innovation, and strategic collaborations with fashion and hospitality brands to broaden their reach. Despite regional slowdowns, particularly in the UK, the long-term outlook remains positive, with luxury furniture evolving beyond functionality into a symbol of lifestyle, identity, and cultural sophistication.
Source: www.taiwannews.com.tw
