Driven by the growing demand for modular and elegant wooden furniture in the urban and rural regions worldwide, the global wooden furniture market size is anticipated to witness a substantial growth in the forecast period
As per the reports by the US Census Bureau, the country’s construction segment represented USD 1,246 billion in 2017 with the residential segment representing over 40 per cent of the overall construction expenses. This is on account of the robust expansion of the housing segment accounting to the proliferating population and financial growth, increasing FDI inflows, and government initiatives on building smart cities, eventually fueling [**wooden furniture market**](https://www.gminsights.com/industry-analysis/wooden-furniture-market) size.
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Also, the growing cognizance regarding the product benefits, inclination towards the eco-friendly furniture and increased environmental concerns are estimated to drive the global furniture market trends. As per trusted reports, Greenington LLC in September 2014 declared to roll out an advanced division of elegant outdoor furniture assumed to be crafted in 100 percent eco-friendly bamboo with an intent to serve the unending demands for the eco-friendly products.
The global wooden furniture market is projected to exceed **USD 580 billion** by 2025, cited a research report by Global Market Insights, Inc.
**Growing demands from the residential sector**
The **residential applications have accounted for over 65 per cent of the global wooden furniture market share in 2018**. The growth is attributed to an upsurge in the GDP aided by the advancing government and private investments in the residential constructions.
Additionally, the budding consumer interest in luxury furniture and home décor products with intricate designs and exceptional aesthetics is expected to bolster the market expansion for the residential sector.
As per UNFPA, the Asia and Pacific region holds over 60% of the world’s population. The region will gain a major foothold in the **global wooden furniture market, accounting for over 45 per cent of the industry share**, owing to the rising requirements for the residential sector.
**The APAC countries including India, China and Japan account for over 75 per cent of the regional share** owing to the expanding disposable income, rapid urbanization, economic development and enhancement in the living standards. Moreover, the speedy growth in tourism and hospitality industry accounting to the fondness for conventional wooden furniture calls for the regional growth.
**Mounting furniture demands from commercial sector**
With high number of commercial business operating in the North America region, the demand for wooden furniture **commercially and in the real estate sector, has witnessed a rise in the furniture demands. Apparently, North America wooden furniture industry size will register a CAGR of 5.5 per cent through 2025.** The growth of the regional industry can be attributed the presence of the major industry players manufacturing a range of innovative products.
Also, the increasing population of the North America region has urged the need for cutting edge complex finishing to suffice the consumer demands and generate a better standard of living and a peaceful work atmosphere. Owing to the same, **wooden furniture market size from** **the commercial sector is predicted to witness a CAGR over 6 per cent through 2025.**
Bush Industries Inc., Kinnarps AB, Sauder Woodworking Co, Meike International Household Products Co. Ltd., Herman Miller, Inc, Natuzzi S.p.A, Dorel Industries Inc., Samson Holding Ltd., and Kimball International are some of the pivotal contenders of wooden furniture industry. The market is rather fragmented and is fraught with the presence of major regional corporations.
