Global Eco-friendly Furniture Market to Grow with a CAGR of 8.2% through 2028
The global eco-friendly furniture market is driven
by increasing consumer awareness of sustainability,
the rising inclusion of sustainable raw materials in various furniture, and the
growing demand for comfort in the household.
According to the TechSci Research report, “Eco-friendly Furniture Market – Global Industry
Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,
the Global Eco-friendly Furniture Market stood at USD40.21 billion in 2022 and
is anticipated to grow with a CAGR of 8.2% in the forecast period, 2024-2028. The
eco-friendly furniture market has witnessed substantial growth in recent years
as consumers become increasingly concerned about environmental sustainability
and responsible consumption.
In recent years, the eco-friendly furniture market
has experienced a remarkable surge in popularity and growth. This surge is not
just a passing trend; it reflects a fundamental shift in consumer values
towards sustainability, environmental consciousness, and responsible
consumption. As more people become aware of the environmental impact of
traditional furniture production methods and materials, they are seeking
eco-friendly alternatives. This demand has given rise to a robust market for
sustainable, eco-friendly furniture. In this article, we will explore the eight
major drivers fueling the growth of the eco-friendly furniture market.
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Consumers are becoming increasingly aware of the
environmental impact of their purchasing decisions. This is driving demand for eco-friendly
furniture, which is made from sustainable materials and processes. Furniture
manufacturers are increasingly using sustainable raw materials such as wood,
bamboo, and recycled materials in their products. This is helping to reduce the
environmental impact of the furniture industry. Consumers are looking for
furniture that is comfortable, stylish, and sustainable. Eco-friendly furniture
meets all of these requirements and is therefore in high demand.
Generation Z and millennial consumers are more
aware of sustainability and are willing to pay more for eco-friendly products. Moreover,
high-income consumers are willing to pay a premium for high-quality furniture
that is also sustainable. The eco-friendly furniture market is a growing and
dynamic market. The key players in the market are constantly innovating to meet
the growing demand for sustainable products. The market is expected to continue
to grow in the coming years, driven by the increasing awareness of
sustainability and the growing demand for comfortable and stylish furniture.
The eco-friendly furniture market is evolving
rapidly as consumers become increasingly aware of the environmental impact of
their choices and seek sustainable alternatives. In this article, we will
explore eight major new trends that are shaping the eco-friendly furniture
market and influencing the way consumers shop for and interact with
environmentally responsible furniture.
The eco-friendly furniture market holds immense
potential for growth and positive environmental impact. However, it faces
several significant challenges, including cost and affordability, limited
consumer awareness, inconsistent regulations and standards, sourcing
sustainable materials, limited design aesthetics, greenwashing, limited
availability and accessibility, and consumer misconceptions.
The global eco-friendly furniture market is
segmented based on product type, application, material, distribution channel, and
region.
Based on the material, the market is segmented
into wood, bamboo, recycled materials, others. Among these the wood market
segment held the leading market share of the total revenue. Wood is a natural
and renewable material that is often used in eco-friendly furniture. It is
strong, durable, and can be finished in a variety of ways. Some popular types
of wood for eco-friendly furniture include teak, bamboo, and reclaimed wood.
Based on region, the market is segmented into North
America, Europe, Asia Pacific, Middle East & Africa, and South America. Among
these, In 2022, North America held a significant share of the market. The
growing environmental consciousness of consumers may have an impact on how they
choose to purchase residential furniture.
Major companies operating in the global eco-friendly
furniture market are:
- Vermont Woods Studios
- Cisco Brothers
Corporation
- Ashley Furniture
Industries, Inc.
- Inter IKEA Systems B.V.
- Lee Industries, Inc.
- Williams-Sonoma, Inc.
- La-Z-Boy Inc.
- Ethan Allen Global,
Inc.
- KING Furniture Pty Ltd
- Maiden Home
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“The eco-friendly furniture market is experiencing
rapid growth due to a confluence of factors. Environmental awareness,
sustainable sourcing of materials, energy-efficient manufacturing, recycling
and upcycling, low-VOC and non-toxic finishes, durability, ethical labor
practices, and regulatory support all contribute to the market's expansion. As
consumers continue to prioritize sustainability and make environmentally
conscious choices, the eco-friendly furniture market is expected to flourish. By
considering these eight major drivers, the eco-friendly furniture market is
poised to make a positive and lasting impact on both the environment and
consumer preferences.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Eco-friendly Furniture Market By Product Type (Chairs, Tables, Sofas,
Beds, Others), By Application (Residential, Commercial), By Material (Wood,
Bamboo, Recycled Materials, Others), By Distribution Channel (Offline, Online),
By Region, By Competition Forecast
& Opportunities, 2018-2028F,
has evaluated the future growth
potential of the eco-friendly furniture market globally and provides statistics
and information on market structure, size, share, and future growth. The report
provides cutting-edge market intelligence and helps decision-makers to make sound
investment decisions. Besides, the report also identifies the emerging trends
along with essential drivers, challenges, and opportunities present in the
market of eco-friendly furniture globally.
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