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This is good news for global furniture market amid COVID-19 pandemic

2020-03-30 | News & Updates

Due to COVID-19 pandemic, the business and trade of most countries of the world including India is facing lot of difficulties at this time. Along with mankind, every industry in the country and the world is facing a huge crisis on every front. But in the meantime, an assessment made about global wooden furniture is a bit of a relief. If this assessment is found correct, then India's furniture industry will benefit from it in the future, which is about to infuse a new hope among those people who are involved in the furniture industry and trade. According to this assessment, the demand for wooden furniture in the world is constantly increasing.

This report has been released by the American Research Company ‘Market Study Report, LLC’. The report released on the wood furniture market said that the market is likely to grow at a CAGR of 4.4 percent, which will cross $ 284900 million in the next five years by 2025. However, this report only talks about the global wooden furniture market. If it includes every kind of product other than wood such as furniture made of MDF, HDF, engineering wood etc., the entire furniture market can be easily visualized with healthy and positive growth.

Market Study Report, LLC claims that Wood Furniture market is likely to expand with appreciable rate from its present revenue of over 202400 million USD to more than 284900 USD million in 2025.

The report thoroughly analyzes the regional topography of the Wood Furniture market. As per the report, the market is regionally classified into North America, Europe, Asia Pacific, Middle East & Africa, Latin America. 

As per a report released in 2018, Indian furniture market is anticipated to reach USD 32.61 billion by 2018 be registering a CAGR of 13.38 percent during the forecast period of 2018 to 2013.
 

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