This briefing examines how the furniture industry is performing globally and in the largest countries in terms of furniture output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies.
This report comes in PPT.
Surging shipping costs, persisting supply chain bottlenecks and deteriorating trade relations between global superpowers have a severe impact on the furniture industry’s global supply chains. This trend creates the need for investment in the transformation of supply chains through digitalisation, sustainable practices and reshoring, in order to increase flexibility and availability, and decrease costs.
Incorporation of digital technologies in the furniture industry is expected to contribute to better manufacturing flexibility and speed, mass customisation and increased productivity.
The furniture industry is moving towards more sustainable production. As a result, the usage of recyclable and easily available materials may become a priority. The industry is, therefore, set to be more regulated, creating future growth opportunities that are expected to significantly reduce energy costs.
Changing consumer preferences and buying habits are shifting more furniture production companies to use digital channels for sales. Furniture companies will continue to invest in e-commerce solutions in order to meet their customers’ needs and to diversify sales risk. CGI (computer-generated imagery) and AR (augmented reality) technologies will further enhance the online shopping experience.
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