The industry that offers furniture and furnishing solutions to several business sectors, including hospitality, healthcare, educational, corporate, and others, is known as the worldwide contract furniture and furnishing market. The market offers a broad variety of goods, including furniture made specifically for business areas, including seats, tables, couches, cabinets, and other furniture. The expansion of the hospitality and tourist sectors, the rise in the number of commercial spaces, and the rising need for ergonomic and bespoke furniture solutions are some of the reasons driving the market. The market is expanding as a result of the movement for ecologically friendly and sustainable products.
The worldwide market for contract furniture and furnishing was greatly influenced by COVID-19. There is less demand for office furniture and commercial furnishings as more companies and organisations transition to remote work. On the other hand, as individuals spend more time at home, there is a rise in the demand for residential furniture. But delays in production and higher prices for raw materials and transportation have resulted from disruptions in the world's industrial and supply chains. In addition, many hospitality and event-related businesses have seen a decline as a result of lockdowns and limitations on public gatherings, which has resulted in a decline in the demand for furniture and furnishings in these industries.
Contract Furniture and Furnishing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Ahrend, Cefla, Forest Contract, Fourfront Group, Franke Water Systems, Haworth Inc., Herman Miller Inc., HMY, Humanscale International Holdings Ltd., Input Interior, ISG, Isku Group, Itab Shop Concept, Kinnarps AB, Knoll Inc., Lifestyle Design, Marine Interiors, Modus Workspace, Nobia Group, Overbury, Pioneer Contract Furniture Ltd., Sitraben Contract Furniture Ltd., Stamhuis Group, Steelcase Inc., Umdasch Shop Fitting Group, Vitra.
Global Contract Furniture and Furnishing Market Segmentation:
By Type: Based on the Type, Global Contract Furniture and Furnishing Market is segmented as; Cafeteria Tables and Chairs, Chairs and Stools, Desks and Tables, Presentation Stands, Sofas, Storage Cabinets.
By End User: Based on the End User, Global Contract Furniture and Furnishing Market is segmented as; Airports, Corporate Office, Hospitals, Hospitality & Food Services, Institutions, Schools.
By Distribution Channel: Based on the Distribution Channel, Global Contract Furniture and Furnishing Market is segmented as; Company-Owned Website, E-commerce Website, Furniture Marts, Office, Online, Specialty Stores, Other Retail Based.
By Region: Here is a brief overview of the growth of the global contract furniture and furnishing market by region:
North America: The United States is the primary driver of market expansion in this area, making it the world's largest market for contract furniture and furnishings. The growth of the market in North America is being driven by the rising demand for ergonomic and personalised furniture solutions, as well as the expansion of the hospitality and healthcare industries.
Europe: Despite being a mature market for contract furniture and furnishings, Europe continues to expand steadily as a result of rising consumer demand for environmentally friendly and sustainable goods. The three countries that are most responsible for the market expansion in this area are the United Kingdom, Germany, and France.
Asia Pacific: Due to the expansion of the business sector and rising need for specialised solutions, Asia Pacific is the region with the fastest-growing market for contract furniture and furnishings. The three countries that are most responsible for this region's market growth are China, Japan, and India.
Latin America: The expansion of the hotel industry and rising need for individualised furniture solutions have made Latin America a developing market for contract furniture and furnishings. The biggest drivers of market expansion in this area are Brazil and Mexico.
Middle East and Africa: The expansion of the hotel and healthcare industries is driving the modest increase in the market for contract furniture and furnishings in the Middle East and Africa area. The main drivers of market expansion in this area are the United Arab Emirates and South Africa.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.