According to the
study “Home
Furnishings in Asia Pacific”, home
furnishings market in Asia Pacific has witnessed a positive growth due to the
strong fundamentals, economic resilience, dynamic population growth,
urbanisation, and rising income levels and robust private residential
construction activities. Home Furnishings
includes anything that is used to furnish a home. This category includes
furniture items, and some people try to use these words interchangeably.
Furniture is usually items used for sitting, sleeping, or to place anything
such as beds, mattresses, tables, chairs, sofas, shelves, and dressers. These
items are also termed as home furnishings that encompass all such items, but are
a bit more expansive. Home furnishings overlap with home decors that are any
decorative items such as art, craft items, collectible figurines and many other
things that a person might want to use to adorn their home. This category is almost
endless and wide for inclusion of various different things.
The
growth in home furnishings is driven by product innovation, segmentation and
digital strategies. Furniture
Market Research Reports includes various
products in the home furnishings are home furniture, home textile, wall decor
and others. The leading players in Asia-Pacific home furnishings are IKEA, Walmart,
Bed Bath & Beyond, Macy's, Wayfair, Future Group, Haworth, Ashley Furniture,
Carrefour, J.C. Penny, Crate & Barrel, Fred Meyer, Herman Miller and Home
Depot. Home furnishings are available at store and through internet retailing.
The home furnishings market in Asia-Pacific is geographically spread across China,
Japan, Korea, India, Southeast Asia and Oceania.
The expansion
and developments in real estate industry has supported the growth of home
furnishings market in Asia-Pacific. Globalization facilitates easier and wider
availability of home furnishings designs for consumers. Majority of the
consumers in the Asia-pacific region are adopting and usage of eco-friendly
products because there is a minimal impact on the environment.
Nowadays,
every consumer prefers and relay on online retail platforms for buying
furniture because of the availability of a wide array of home furnishings products
at affordable price. Improving lifestyle and increasing disposable income are
the key factors affecting the home furnishings market in Asia-Pacific. Homeowners
in Asia-Pacific have increased significantly in over the past few years due to emerging
economies and home owners are keen in decorating home interior and exteriors.
The increasing urban population is also one of the strong impacting factors
affecting the home furnishings market. Cost and availability of raw material
plays a key role in home furnishings market and Furniture Industry Research Report.
Raw materials such as metal, wood, plastic, glass, leathers, rattan, fabrics
and stone are used for manufacturing various home furnishings.
Furniture segment
in home furnishing has witnessed an increased adoption among Asia-Pacific consumers
due to the increased disposable income, influence of western culture, growing
adoption of modular kitchen and lighting. The furniture segment includes furniture
used in kitchen, living and bedroom, bathroom, outdoor and lighting. Various
materials such as metal, wood, plastic, glass and leather are used solely or in
combination with other materials to manufacture parts of furniture.
Multifunctional furniture is gaining popularity among Asia-Pacific urban
consumers. Asia-Pacific home furnishings market will witness a continuing
growth over the next few years due to decrease in unemployment, increase in
income and increase in homeowners.
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