Eco-friendly furniture is made up of sustainable material such as cane, bamboo, abaca wood, and teak wood. The eco-friendly furniture also is even made from recycled glass and metal. The padding and upholstery in eco-friendly furniture are done through recycled materials or natural fibers. To beautify the eco-friendly furniture natural dyes, environmental-friendly oils, natural wax, water soy based finishes are used. The global eco-friendly furniture market has experienced a significant growth, and is expected to grow considerably in next few years owing to the rise in popularity of environment-friendly products.
COVID-19 Scenario Analysis
The COVID-19 outbreak has shaken economies worldwide. In this scenario, some industries have done extremely well while others have suffered losses. The necessity food market, cleaning hygiene product market and medical industry are such categories which have witnessed a significant growth. The overall performance of home care and décor market has dropped during the pandemic. It includes bedding products, cushion market, furniture, and other discretionary products. The lockdown in different economies caused impaired supply chain and unavailability of workers raw materials due to which production and demand both were hampered. The end of the lockdown in the countries is anticipated to bring significantly higher consumer traffic in the eco-friendly furniture market.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The rise in popularity for environmentally friendly home décor items has surged the demand for cane and bamboo furnitures. The increase in awareness of the usage of eco-friendly and recyclable products has influenced consumers to purchase eco-friendly furniture.
The upsurge in disposable income has enhanced the purchasing power of the people living in the countries of Asia-Pacific. People spend more than before on luxury, comfort, and lifestyle products. This changed spending behavior of consumers and rise in their purchasing power have increased the demand for eco-friendly furniture.
The change in lifestyle and increase in modern home renovation further support the growth of eco-friendly furniture market, which influence people to have an outdoor garden and galleries at their home and they buy outdoor bamboo, cane, wood and other eco-friendly furniture to enhance the aesthetic beauty of their home.
The increase in number of clubs, bars, hotels, and commercial buildings along with the growth in real estate construction has further propelled the demand for eco-friendly furniture.
The Global Eco-friendly Furniture Market Trends
New Product Launches to Flourish the Market
Manufacturers are focused on producing new products for specific applications as there are varying demands based on the utilization. The market players have launched new innovative and eco-friendly products by incorporating modern technology in the manufacturing process. For instance, in February 2019, “Print Your City” launched an eco-friendly street furniture made of 100% recycled plastic and carved through 3D printing technique.
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Restrains of the Market
A number of drawbacks of eco-friendly furniture especially made of bamboo and cane have restricted the growth of the market.
- Wood, cane and bamboo furniture painted with natural dyes are easily prone to pests and insects.
- Wood, cane and bamboo furniture cannot be left outside in galleries or gardens during the rainy season.
- Eco-friendly furnitures made with recycled materials are easily damageable and it can get cracked easily by putting heavy stuffs on it.
- Cane and bamboo furniture come in limited shades and colors as the surface of bamboo furniture are too smooth to hold paint.
Key Benefits of the Report
- This study presents the analytical depiction of the global eco-friendly furniture industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global eco-friendly furniture market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the global eco-friendly furniture market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed global eco-friendly furniture market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions Answered in the Eco-friendly Furniture Market Research Report
- Which are the leading players active in the eco-friendly furniture market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
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