Furniture Contract Manufacturing Market: Industry Growth, Size, Share and Forecast 2018-2023

The furniture contract manufacturing market is estimated to grow at a considerable rate during the forecast period. The furniture contract manufacturers intend to provide customized furniture to their clients. Therefore, the increasing demand for clients from across the globe is a major factor to drive the growth of the global market. Consumers are interested to buy furniture that fits the size and design specification requirements of the customers. Moreover, niche markets for furniture are developing that are specific to relatively small geographic area and that cater to consumers with very specific interests. Some manufacturers are addressing this need today by producing customizable furniture. 

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The growing trend for specialized furniture is further making a considerable contribution to the growth of the furniture contract manufacturing market. The dual-purpose sleep furniture, lift chairs, video game chairs, and many other furniture products today are highly specialized by function. In the future, specialized furniture products will likely grow in number; many will incorporate health functions and other concerns of an aging population. Beds, chairs, and other furniture pieces, for example, may increasingly provide “high tech” back support, or include electronic devices to monitor, record, and transmit heart rate, sleep time, and other health-related information. Additionally, with the growth of large homes, demand is increasing for specialized cabinets and other furniture, thereby, driving the growth of the furniture contract manufacturing market.

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According to a World Bank study, the organized furniture industry is expected to grow by 20% every year. A big part of this rapid growth is expected to come from the rapidly growing consumer markets of Asia-Pacific. The growing disposable incomes of the emerging economies of Asia-Pacific including India and China is the major factor to drive the growth of the furniture contract manufacturing industry in the region. Moreover, increasing infrastructure development due to rapid urbanization along with the growing tourism and hospitality industry in India is further expected to contribute towards the growth of the furniture contract manufacturing market in the Asia-Pacific.

Current market Trends covered in the Market Report

• The significant rise in the e-commerce industry.
• Development of newer and efficient manufacturing processes.
• Asia-Pacific is projected to showcase a significant growth rate in the furniture contract manufacturing market.
• Abundant private capital is deployed in the furniture contract manufacturing market.
• Government regulations to play a significant role in the furniture contract manufacturing market.
• Development of multifunctional furniture-Opportunity for the market.
• Lack of skilled labor-major restraint to the market. 

Furniture Contract Manufacturing Market Segmentation

By Material Type 

• Wooden 
• Metal
• Others

By End-User

• Residential
• Healthcare
• Commercial 
• Government
• Others

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Furniture Contract Manufacturing Market – Segment by Region 

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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Source: Furniture Contract Manufacturing Market