The market for eco-friendly furniture is expected to reach US$ 46.88 billion by 2023. Global demand is anticipated to increase at a CAGR of 8.6% to reach US$ 107.1 billion by 2033.
.jpg
"The Global Eco-Friendly Furniture Market 2023-2033 (USD Billion)")
The global eco-friendly furniture market revenue is estimated to experience a substantial rise embarking nearly USD 60.1 billion by 2028 and is projected to acquire an impressive CAGR of 8.2% throughout the growth estimation span, 2021-2028. The steady rise in growth of the global eco-friendly furniture market can be attributed to the increasing popularity of eco-friendly home décor products and product components coupled with the subsequent escalation in demand for cane and bamboo produced furniture backed by favorable consumer preferences for naturally-sourced products.
Rising consumer awareness associated with benefits and the need to adopt eco-friendly and recyclable product preferences have resulted in substantial rise in the purchase of eco-friendly furniture. Along with this, a rise in disposable income and lifestyle standards coupled with recent trends of environmentally friendly products are opportunistic factors exposing the global eco-friendly furniture market to a sustainable growth.
Further, as construction and building projects comprising both commercial and residential, along with significant initiatives towards restoration projects are expected to further accelerate heavy reliance on eco-friendly furniture, ensuring steady market expansion in the forthcoming years. In the coming years, significant rise in R&D expeditions to develop and introduce new construction materials are also expected to benefit product diversification in eco-friendly furniture.
Eco-friendly furniture refers to any furniture item or any other accessory for decoration, which are primarily made from sustainable materials such as cane, wood, bamboo, teak wood or abaca and has recyclable properties thereby posing no environmental threat. Eco-friendly furniture is also made up of recycled glass or certain types of metals. Sustainable or eco-friendly furniture is also essential to have product components that are also recyclable in nature.
The padding and upholstery displayed in sustainable furniture is designed with recycled materials or natural fiber representing every part of eco-friendly furniture to be derived from recyclable and environmentally friendly materials. In addition, external materials used to make the furniture look appealing are also of recyclable significance. For instance, natural dyes, natural wax, environmental-friendly oils, water, and soy-based finishes are used to make the furniture look captivating. This type of furniture registers minimum to no environmental impact and avoids use of any chemicals capable of polluting the environment throughout the production process or during degradation processes.
Global eco-friendly furniture market consists of sternly placed historic players witnessing a surge in the number of young market players entering the market landscape with the view of disrupting the conventional practices and approach over production achieving new levels of customer satisfaction and adhering to constantly evolving trends. Greater risks and threats posed by the emerging market members coupled with rapidly shifting trends stressing upon the adoption of environmentally friendly practices within the industry have led to market consolidation.
The major players of the global eco-friendly furniture market are Cisco bros, Lee Industries, Vermont Woods Studios, Greentington, Manchester Woodcraft, Williams-Sonoma, Moso International, La-Z-Boy, Shenzhen Vincent Handicraft, and Jiangxi Feiyu Bamboo Industry. The eco-friendly furniture market incorporates a diverse spectrum of local players showcasing a strong foothold along with the global players with international business presence. In addition, the identified market players are proposing novel techniques and innovative strategies scaling up the production to attain competitive edge in the global market.
Eco-Friendly Furniture Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2023-2024 |
| Forecast Period | 2022-2032 |
| Study Period | 2023-2033 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2033 | US$ 107.1 billion |
| Growth Rate | CAGR of 8.6 % during 2023-2033 |
| Segment Covered | Type, Application, Distribution Channel, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Cisco bros, Lee Industries, Vermont Woods Studios, Greentington, Manchester Woodcraft, Williams-Sonoma, Moso International, La-Z-Boy, Shenzhen Vincent Handicraft, and Jiangxi Feiyu Bamboo Industry |
Key Segments of the Global Eco-Friendly Furniture Market
Type Overview, (USD Billion)
- Wood
- Bamboo
- Recycled Glass
- Others
Application Overview, (USD Billion)
- Residential
- Commercial
Distribution Channel Overview, (USD Billion)
- Online
- Offline
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
South America
- Brazil
- Mexico
- Rest of South America
Middle East & Africa
Reasons for the study
- The purpose of the study is to offer conclusive market analysis and insights on the global eco-friendly furniture market with all-inclusive research consisting of factual evidences and critical analytical data.
- Ensure your competitive stance is intact amidst the innovations driven by the existing market players to fuel the market.
What does the report include?
- The study on the global eco-friendly furniture market covers an array of deliverables including qualitative factors crucial to the market dynamics such as drivers, restrains, and opportunities.
- The study broadly encompasses the competitive nature of the global eco-friendly furniture market identifying the existing and prospective players followed by their strategic initiatives and novelty added to the product development models.
- The study also consists of qualitative and quantitative evaluation of the market fragments segmented based on the type, application, and distribution channel. The key geographies are also analysed based on a similar methodology.
- Market sizes, share, and forecasts have been incorporated accompanying the above-mentioned segment analysis.
Who should buy this report?
- The report on the global eco-friendly furniture market offers a suitable set of data for all the market participants across the supply chain of the industry including raw material and component material providers, product manufacturers, and distributors
- Business investors, capitalists, and young entrepreneurs looking for detailed understanding of the future outlook of the global eco-friendly furniture market
- Environmentalists, public institutions, students in the fields of wood science, and researchers seeking crucial insights shaping the global eco-friendly furniture market.
Increasing inclination of consumers towards environmentally friendly and sustainable home décor coupled with the rapidly rising disposable income across several economies are boosting the growth of the global eco-friendly furniture market over the forecast years. Popularity of recyclable products across an array of industries has led to the development of new natural class of products easy to dispose or recycle with bare minimum environmental impact.
Increasing indulgence in luxury products and comfortable lifestyle has resulted in drastic rise in product premiumization and exclusivity which is ultimately propelling the innovative trends, new design and engineering along with rampant commercialization initiatives that are collectively fostering new growth opportunities worldwide. Some of the trending styles that have augmented global acceptance of eco-friendly furniture and accessories are specific designs retaining traditional home décor particularly with gardens and galleries decorated with bamboo and cane furniture.
In addition, a surge in the number of clubs and bars, commercial estates and residential areas worldwide is catapulting the demand for sustainable furniture thus augmenting the growth of the global eco-friendly furniture market. Advanced production technologies along with increasing initiatives by the manufacturers to develop advanced recyclable and green furniture for specific applications is further driving the growth of the global eco-friendly market.
Frequently Asked Questions (FAQ) :
The eco friendly furniture market is growing at a CAGR of 8.6 % over the forecast period.
The base year for the report is 2022 in eco friendly furniture market.
To get latest version of eco friendly furniture market report can be obtained on demand from the website
Increasing inclination of consumers towards environmentally friendly and sustainable home décor coupled with the rapidly rising disposable income across several economies are boosting the growth of the global eco-friendly furniture market over the forecast years. Popularity of recyclable products across an array of industries has led to the development of new natural class of products easy to dispose or recycle with bare minimum environmental impact.
Increasing indulgence in luxury products and comfortable lifestyle has resulted in drastic rise in product premiumization and exclusivity which is ultimately propelling the innovative trends, new design and engineering along with rampant commercialization initiatives that are collectively fostering new growth opportunities worldwide. Some of the trending styles that have augmented global acceptance of eco-friendly furniture and accessories are specific designs retaining traditional home décor particularly with gardens and galleries decorated with bamboo and cane furniture.
In addition, a surge in the number of clubs and bars, commercial estates and residential areas worldwide is catapulting the demand for sustainable furniture thus augmenting the growth of the global eco-friendly furniture market. Advanced production technologies along with increasing initiatives by the manufacturers to develop advanced recyclable and green furniture for specific applications is further driving the growth of the global eco-friendly market.
Type Segment
Increasing home décor trends, revival of the wooden furniture are encouraging the growth of the segment over the forecast years particularly due to the need to prevent extravagant cut down of trees, the recyclable use of wooden furniture is advantageous. Recyclable glass segment is also expected to grow exponentially over the forecast years with increasing ease of glass recycling allowing easy access to the raw material coupled with increasing appeal of recycled glass furniture. Bamboo-based furniture is gaining momentum and is therefore anticipated to grow considerably over the forecast.
Application Segment
Commercial and residential applications are the broad categories in eco-friendly furniture space. The residential segment dominated the eco-friendly furniture market in the past and is likely to maintain the dominance over the forecast owing to the increasing consumer awareness popularizing sustainable furniture production drastically shifting inclination towards environmentally friendly products. The commercial application segment is also projected to grow substantially over the forecast years due to the increasing preferences of commercial estates to create a pleasant environment housing sustainable furniture.
Distribution Channel Segment
Offline and online distribution channels are the prominent segments based upon distribution channel. The offline segment led the eco-friendly furniture market with a large market share and is expected to continue down the same progress path. Specialty stores are the most predominant revenue contributors within the offline segment anticipated to dominate the offline distribution channel segment during the projected years. Owing to the massive chains of home décor and home furnishing stores available worldwide, online distribution channel segment is estimated to grow at an optimum rate with increasing eCommerce adoption.
North America is a dominant player with majority of global eco-friendly furniture market share. The region consists of a constantly growing consumer base fully aware of the current environmental status and necessary adoptions. Consumer consciousness and choice of purchase heavily inclining towards environmentally friendly products is fuelling the sustainable furniture industry. Significant growth in green homes industry across the United States us further paving the way for eco-friendly and sustainable fittings.
Asia Pacific is expected to register exponential growth over the forecast years due to the burgeoning infrastructure activities across developing economies like China and India propelling growth of the hospitality sector including hotels and restaurants resulting in consumer appeal towards innovative furnishing ideas. In addition, increasing adoption of outdoor furniture such as bamboo chairs or teakwood tables is boosting the demand for environmentally friendly furnishings.