Global Eco-Friendly Furniture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast 2018 to 2029

“Global Eco-Friendly Furniture Market” is the title of an upcoming report offered by MarketResearch.Biz. The research study involved the extensive usage of expert opinions, using both primary and secondary data sources and efforts. The research process involves the study of various factors positively or negatively impacting the industry, as well as the effects of the more recent COVID-19 pandemic situation that has globally disrupted business. Also, market risks, opportunities, growth market barriers and challenges, and future scenarios have been covered in the report. Factors considered include government policies and mandates, the market environment, competitive landscapes, historical data, current and historical trends in the market, technological innovations, new solutions and modifications made to existing provisions, upcoming technologies and the technical progress of related industries. The global eco-friendly furniture market has been segmented on the basis of application, distribution channel, as well as regions and countries.

Overview:

Eco-friendly furniture is furniture that is created in a manner that has a minimum negative impact on the environment. What this means is that the wood used, is sourced from renewable sources and any chemicals that are used in the process, do no harm or pollute the environment.

Dynamics:

The rising adoption of sustainable raw materials (bamboo, rubber wood, reclaimed wood, rattan, and wicker) for the production of furniture (especially among younger generations) as well as increasing initiatives towards eco-friendly housing projects is expected to significantly contribute to revenue growth of the global eco-friendly furniture market. Another factor that is affecting the revenue growth of the global eco-friendly furniture market, in both the residential and commercial sectors, is the enforcement of stringent environmental regulations.

With the unfortunate outbreak of COVID-19 virus in December 2019, the sourcing, manufacture, and distribution of end products, as well as the other overheads associated with doing business in the global eco-friendly furniture market are expected to restrain revenue growth. It is due to major factors such as these, that revenue growth of the global eco-friendly furniture market is slated to take a significant toll and recovery from this crisis is expected to take years.

However, the increased health risks associated with the use of traditional furniture which releases toxic pollutants such as volatile organic compounds that result in individuals developing allergies, asthma, and migraines is increasing the subsequent demand for these environmentally friendly products.

With increasing aim to reduce emissions, the rising prominence of sustainable living and the growing acceptance of eco-friendly workplace furniture is expected to significantly contribute to market growth in the foreseeable future.

Segmentation of the global eco-friendly furniture market is as follows:

In terms of application, the residential application segment accounted for the majority revenue share of the global eco-friendly furniture market owing to the rising awareness and adoption of sustainable furniture. The commercial application segment is expected to register the significant revenue growth over the next 10 years owing to the rising adoption of sustainable furniture for office designs, which in turn, has been found to have a positive psychological impact on the productivity of an employee.

With respect to distribution channels, the offline distribution channel segment accounted for the majority revenue share owing to the vast number of furnishing stores available across regions.

Regional Segmentation and Analysis:

North America accounted for a significant revenue share of the global eco-friendly furniture market in 2019, owing to the increasing awareness of consumers concerning the environmental impact of traditional furniture when compared to that of sustainable furniture. Another factor is the influx of handmade products being manufactured by market players in this region.

The Asia Pacific market is expected to register significant revenue growth in the coming years, owing to increasing infrastructural activities by emerging economies of this region.

Segmentation of Global Eco-Friendly Furniture Market:

Segmentation by Application:

• Residential
• Commercial

Segmentation by Distribution Channel:

• Online
• Offline

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa