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Written by Mohit singh » Updated on: October 29th, 2024
Australia Furniture Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 6.10% (2024-2032)
The growing preference of homeowners and renters to create more comfortable and personalized living environments represents one of the key factors offering a favorable market outlook in Australia. According to IMARC Group, the Australia furniture market size is projected to exhibit a growth rate (CAGR) of 6.10% during 2024-2032.
Australia Furniture Industry Trends and Drivers:
The growing preference of homeowners and renters to create more comfortable and personalized living environments represents one of the key factors offering a favorable market outlook in Australia. The increasing number of home renovations and remodeling projects is also catalyzing the demand for furniture that fit their aesthetic preferences and offer practical solutions for smaller living spaces.
Besides this, remote work and flexible working arrangements are driving the demand for home office furniture, including ergonomic chairs, desks, and storage solutions. Companies are also investing in high-quality furniture to support the comfort and productivity of their employees, thereby stimulating market growth. Moreover, technological advancements are enabling more efficient manufacturing processes and the development of smart products.
Advanced technologies, such as computer-aided design (CAD) and automated production systems, are facilitating high-quality furniture production, ultimately lowering costs and improving product availability. Manufacturers are also innovating their offerings to include a wide selection of styles, ranging from minimalist and contemporary to traditional and culturally specific pieces, to cater to a diverse and multicultural population.
The growing awareness among the masses about sustainability and environmental concerns are driving the demand for eco-friendly and sustainable options. People are prioritizing furniture made from renewable resources, recycled materials, and non-toxic finishes, encouraging manufacturers to expand their range of sustainable products and drive innovations in materials and production processes, which is offering lucrative growth opportunities to industry investors.
In addition, the rise of e-commerce and retail platforms is increasing the convenience of online shopping by providing a broader selection of choices at competitive prices. This ease of access is encouraging individuals to frequently update their living spaces, as they can effortlessly browse different styles, read reviews, and compare prices from the comfort of their homes. Furthermore, the widespread use of social media and the influence of interior design trends are constantly exposing individuals to the latest innovations, thereby bolstering the market growth in the country.
Download sample copy of the Report: https://www.imarcgroup.com/australia-furniture-market/requestsample
Australia Furniture Industry Segmentation:
The report has segmented the market into the following categories:
Material Insights:
Distribution Channel Insights:
End Use Insights:
Regional Insights:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
Street: Morgan Park QLD 4370
City/Town: Warwick
State/Province/Region: Queensland
Country: Australia
Zip/Postal Code: 4370
Email: [email protected]
Phone Number: +1-631-791-1145
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