The household furniture and kitchen cabinet manufacturing market comprises all firms engaged in producing household furniture including furniture for kitchen, bedroom and living room.
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The global household furniture and kitchen cabinet market has been growing in the past years with a CAGR of almost 10%. The year 2017 recorded high growth in this market with a net market value more than 30% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global household furniture and kitchen cabinet market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serve the purpose of quick furnishings. A RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer, and is available in parts with instructions to assemble the piece of furniture. This furniture has been popular for a while in developed countries, but RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some of the examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases and RTA filing cabinets. For instance, IKEA a major ready to assemble manufacturer, has set up its store in Hyderabad, India, owing to high demand for ready to assemble furniture in India.
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Companies included in the report are IKEA, Ashley, Leggett & Platt, Man Wah Holdings Limited, and La-Z-Boy Incorporated.
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