The global plastic and other furniture market size was valued at USD 33.08 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028. Globally, the demand for economical and durable furniture has augmented among different customer groups, which is the main driving factor for the market. Growing demand for lightweight, eco-friendly, flexible, and multi-functional furniture providing convenience and application in small and large spaces is further anticipated to drive the global market. Rising environmental concerns like deforestation across the globe are anticipated to surge the demand for plastic and other furniture.
Plastic and other furniture include furniture manufactured from materials such as plastic, bamboo, and rattan wicker. Growing environmental concerns such as deforestation across the world led to the increase in the demand for plastic and other furniture products. Thus, major players are shifting towards manufacturing eco-friendly furniture. Some of the advantages of plastic and other furniture include low maintenance, resistance to corrosion, lightweight, and flexibility. Thus, they are used in residential and commercial applications.
The COVID-19 pandemic has led to a substantial influence on businesses as well as humans. The COVID-19 pandemic has negatively affected the market for plastic and other furniture. The disruptions in the supply chain and the halt in production resulted in the reduced sale of plastic and other furniture. In addition, a temporary ban on global trade has substantially affected the countries with a large dependency on imports for their furniture requirements. However, as the services and businesses are resuming, the market is expected to recover in the future.
The offline segment held the largest revenue share of more than 70.0% in 2020. Offline channels include home centers, flagships stores, and specialty stores. The offline distribution channel is becoming popular owing to the accessibility of a diverse selection of customer products under one roof, ample parking space, and suitable operating hours. In addition, they provide a choice of physical verification and trial facility of products to the customers. Thus, the offline segment contributes more to the market revenue.
The online segment is expected to register the highest CAGR of 4.0% from 2021 to 2028. As buying furniture online can be complex, key players in the market are discovering augmented reality and virtual reality features in their apps and websites so as to create a virtual online shopping experience for their customers. Online stores have a wide scope of choices accessible. There is no limit to the plans, materials, price, and styles, which makes the shopping experience a lot easier and better.
The plastic and bamboo furniture segment dominated the market and held a revenue share of more than 65.0% in 2020. Plastic and bamboo furniture require low maintenance and are economical, customizable, durable, and available in different shapes, colors, and designs. Therefore, their usage is more in residential and commercial applications. In addition, plastic and bamboo furniture are largely used in construction activities, thereby contributing more to the market revenue.
The furniture for kids segment is expected to register the highest CAGR of 3.9% from 2021 to 2028. The growing availability of innovative and stylish furniture on numerous e-commerce platforms is likely to drive the segment over the forecast period. In addition, increasing disposable income and rising spending on playroom, nursery room, and study room décor are expected to drive the industry.
Asia Pacific accounted for the dominant revenue share of over 40.0% in 2020. The customers in the region have observed growth in disposable income owing to the slow but steady development in economic conditions of several countries across the region. Moreover, changing lifestyles of individuals are accountable for the prominent growth of the regional market.
North America is forecasted to register the highest CAGR of 4.1% from 2021 to 2028. This can be attributed to the strong customer base in the U.S. Augmented construction of new buildings is anticipated to raise the product demand. Environmentally friendly furniture and multifunctional furniture are gaining popularity. Increasing environmental awareness and space limitations in urban areas drive the implementation of plastic and other furniture in North America.
The market is characterized by the presence of various well-established and several small and medium players. The key manufacturers operating in the market are adopting various business strategies to capitalize on the development of the e-commerce sector as a potential distribution channel as millennial customers are largely inclined towards buying furniture online. In addition, major manufacturers are providing customizations and design variations in plastic and other furniture for capturing a large customer base. Some prominent players in the global plastic and other furniture market include:
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 33.77 billion |
|
Revenue forecast in 2028 |
USD 43.51 billion |
|
Growth Rate |
CAGR of 3.7% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2017 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Type, distribution channel, region |
|
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
|
Country scope |
U.S.; U.K.; Germany; France.; China; India; Japan; Brazil; Argentina; South Africa |
|
Key companies profiled |
Williams-Sonoma, Inc.; Herman Miller, Inc.; Wayfair Inc.; Nitori Holdings Co. Ltd.; Inter IKEA Systems B.V.; Okamura Corporation; KOKUYO Co., Ltd.; HNI Corporation; Supreme Industries Ltd.; Kimball International Inc. |
|
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global plastic and other furniture market report on the basis of type, distribution channel, and region:
Sign up today.
Call us at +1-408-610-2300 to speak with a
representative.
All Reports
