PUNE, India , July 22, 2024 /PRNewswire/ -- Market Decipher published its latest research report – " Luxury Furniture Market Report " estimating luxury furniture industry at $24 Billion in 2024, growing at 5.5% CAGR during 2024 to 2034. The report offers a detailed analysis of the luxury furniture industry landscape, including key market trends, growth drivers, challenges, and opportunities.
The comprehensive research report by Market Decipher provides valuable insights into the current market scenario and future prospects for the luxury furniture industry. Get Sample Report: https://www.marketdecipher.
com/report/luxury-furniture-market " The demand for luxury furniture is on the rise owning to shift in consumer preference and awareness of aesthetics and environment-friendly products for homes and offices. This trend is apparent most in home, office, hotel or restaurants, for instance, exclusive furniture and wooden flooring. " - Ranjan Singh (Research Head, Market Decipher) The increasing of disposable income and wealth particularly across the emergent economies is highly influential in the demand for luxury furniture.
As the purchasing power of individuals rises, they are willing to spend on luxurious and better-quality furniture to display their standard and improve their interior. The global population with higher purchasing power is also growing significantly, especially in countries belonging to Asia-Pacific and Middle Eastern countries leading to high demand for luxu.