The market is witnessing a surge in demand due to the rise in disposable incomes, which leads to a rise in the demand for luxury items. The steady expansion of the real estate industry is a driving factor for the demand for luxury furniture since the product finds applications in commercial, as well as residential buildings.
The global Luxury Furniture market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period. Robust revenue growth is attributed to factors such as changing lifestyle, improvements in standard of living and rising health conscious populace. Increasing demand for convenience, and going coronavirus pandemic, rising presence for online shopping, and increasing inclination towards veganism and organic and basic food products are fueling global market growth.