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Dining Table Market Recent Trends, Opportunities, and Revenue Forecast

2024-06-03 01:16:25
Report

The size of the world market for dining tables was estimated at USD 7.81 billion in 2023 and is projected to grow to that amount in 2023. The market is anticipated to grow at a compound annual growth rate (CAGR) of 6.6% from USD 8.22 billion in 2024 to USD 13.71 billion by 2032. Customizable minimalism designs have becoming increasingly popular among households these days. Producers have been selling furniture constructed from sustainable resources like oak, teak, rosewood, and recycled plastic and wood. The demand for the product will be driven by the growing need for furniture in infrastructure facilities. This data is provided by Fortune Business InsightsTM in the "Dining Table Market, 2024-2032" study.

Top Key Companies Coveed in the Dining Table Market: 

  • Steelcase Inc. (U.S.)  
  • MillerKnoll, Inc. (U.S.)
  • Ashley Furniture Industries, Inc. (U.S.)
  • GLOBAL FURNITURE USA (U.S.)
  • KOKUYO Co., Ltd. (Japan)
  • Ethan Allen Global, Inc. (U.S.)
  • Godrej & Boyce Mfg. Co. Ltd. (India)
  • B&B ITALIA SPA (Italy)
  • Sunpan Trading & Importing, Inc. (Canada)
  • CB2 (U.S.)

Information Source:  https://www.fortunebusinessinsights.com/dining-table-market-106138 

Segmentation

Backed By Demand for Natural Furniture Items, Wood Is Set To Lead The Segment

On the basis of material, the market is segmented into wood, metal, plastic, and others. Wood segment is set to dominate due to demand for furniture items with natural wooden colors and gray, white, or brown color tones. 

Backed By Easy Accessibility, Rectangular Segement Is Set To Lead The Market

By table shape, the market is divided into oval, rectangular, round, and square. The rectangular shaped tables are set to hold a dominant share due to easy accessibility to rectangular tables.

Owing To Increasing Focus On Interior Designing, Residential Segement Is Set To Lead The Market

According to the end-user, the market is segmented into residential and commercial. Residential segment holds a major market share due to increasing focus on interior designing and kitchen room decoration among households.

On the basis of regional ground, the market is studied across North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Preference For Dining Furniture Products Made From Sustainable Raw Materials To Drive Market Trajectory

Preference for dining furniture products made from recycled wood & plastic, oak, teak, rosewood, etc. is anticipated to drive dining table market growth. Increasing demand for customized designs and items for luxury furniture items is driving the revenues for the new products.

However, provision of counterfeit dining furniture products is negatively impacting the product sales in many countries globally which is expected to hamper the market growth.

Regional Insights

Preference For Trending Furniture Items, Asia Pacific Is Poised To Lead The Market Share

Asia Pacific is projected led the global dining table market share with the valuation of USD 3.36 billion in the year 2022. The dominance is due to preference for trending furniture items such as dinner tables, chairs, beds, sofas, home textile products, etc. in events. Rising consumption of wooden furniture in China and India is set to propel regional growth.  

Market growth in the Europe is due to rising demand for modern extendable dining tables suitable for space management at official spaces.

Competitive Landscape

Market Players to Gain Competitive Edge by Offering New Designs

The key market players in the dining table market have been offering new designs for the expansion of their customer base on global level. In February 2023, Steelcase, Inc. and Frank Lloyd Wright Foundation collaborated for the launch of various products such as dining chairs, tables, and desks, called Racine Collection. These products are of high performance as they are made up of high quality fabrics, materials, and tweaks for better comfort and use.

Key Industry Development

June 2023: NaughtOne launched Morse Table System at NeoCon and Design, a U.S. furniture design show. These dining tables can be converted easily into work desks & teamwork benches.

Dining Table Market Recent Trends, Opportunities, and Revenue Forecast

555k
2024-06-03 01:16:25

The size of the world market for dining tables was estimated at USD 7.81 billion in 2023 and is projected to grow to that amount in 2023. The market is anticipated to grow at a compound annual growth rate (CAGR) of 6.6% from USD 8.22 billion in 2024 to USD 13.71 billion by 2032. Customizable minimalism designs have becoming increasingly popular among households these days. Producers have been selling furniture constructed from sustainable resources like oak, teak, rosewood, and recycled plastic and wood. The demand for the product will be driven by the growing need for furniture in infrastructure facilities. This data is provided by Fortune Business InsightsTM in the "Dining Table Market, 2024-2032" study.

Top Key Companies Coveed in the Dining Table Market: 

  • Steelcase Inc. (U.S.)  
  • MillerKnoll, Inc. (U.S.)
  • Ashley Furniture Industries, Inc. (U.S.)
  • GLOBAL FURNITURE USA (U.S.)
  • KOKUYO Co., Ltd. (Japan)
  • Ethan Allen Global, Inc. (U.S.)
  • Godrej & Boyce Mfg. Co. Ltd. (India)
  • B&B ITALIA SPA (Italy)
  • Sunpan Trading & Importing, Inc. (Canada)
  • CB2 (U.S.)

Information Source:  https://www.fortunebusinessinsights.com/dining-table-market-106138 

Segmentation

Backed By Demand for Natural Furniture Items, Wood Is Set To Lead The Segment

On the basis of material, the market is segmented into wood, metal, plastic, and others. Wood segment is set to dominate due to demand for furniture items with natural wooden colors and gray, white, or brown color tones. 

Backed By Easy Accessibility, Rectangular Segement Is Set To Lead The Market

By table shape, the market is divided into oval, rectangular, round, and square. The rectangular shaped tables are set to hold a dominant share due to easy accessibility to rectangular tables.

Owing To Increasing Focus On Interior Designing, Residential Segement Is Set To Lead The Market

According to the end-user, the market is segmented into residential and commercial. Residential segment holds a major market share due to increasing focus on interior designing and kitchen room decoration among households.

On the basis of regional ground, the market is studied across North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Preference For Dining Furniture Products Made From Sustainable Raw Materials To Drive Market Trajectory

Preference for dining furniture products made from recycled wood & plastic, oak, teak, rosewood, etc. is anticipated to drive dining table market growth. Increasing demand for customized designs and items for luxury furniture items is driving the revenues for the new products.

However, provision of counterfeit dining furniture products is negatively impacting the product sales in many countries globally which is expected to hamper the market growth.

Regional Insights

Preference For Trending Furniture Items, Asia Pacific Is Poised To Lead The Market Share

Asia Pacific is projected led the global dining table market share with the valuation of USD 3.36 billion in the year 2022. The dominance is due to preference for trending furniture items such as dinner tables, chairs, beds, sofas, home textile products, etc. in events. Rising consumption of wooden furniture in China and India is set to propel regional growth.  

Market growth in the Europe is due to rising demand for modern extendable dining tables suitable for space management at official spaces.

Competitive Landscape

Market Players to Gain Competitive Edge by Offering New Designs

The key market players in the dining table market have been offering new designs for the expansion of their customer base on global level. In February 2023, Steelcase, Inc. and Frank Lloyd Wright Foundation collaborated for the launch of various products such as dining chairs, tables, and desks, called Racine Collection. These products are of high performance as they are made up of high quality fabrics, materials, and tweaks for better comfort and use.

Key Industry Development

June 2023: NaughtOne launched Morse Table System at NeoCon and Design, a U.S. furniture design show. These dining tables can be converted easily into work desks & teamwork benches.

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