Asia Pacific Customized Furniture Market Size By Product (Wood, Metal, Plastic, Leather), By Application (Residential, Commercial), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Asia Pacific Customized Furniture Market Size And Forecast

Asia Pacific Customized Furniture Market size was valued at USD 627.63 Million in 2024 and is projected to reach USD 1060.12 Million by 2031, growing at a CAGR of 7.47% during the forecast period 2024-2031.

The rise in the standard of living, the rise in the demand for luxury furnishings, and the growth of the real estate sector, hospitals, and workplaces are the main factors driving the market. The Asia Pacific report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Asia Pacific Customized Furniture Market Executive Summary

Customized Furniture is all about creating pieces that perfectly match your needs and desires. It starts with a design, sketched out to capture exactly what you're looking for. Then, that design goes to the machines for production, or sometimes, a skilled craftsman will carefully hand-make certain parts to guarantee top-notch quality. The real benefit? You get furniture that's not only high-quality (because it's meticulously checked, not rushed!), but also reflects your unique style and color preferences. Basically, it's all about making your home look amazing with furniture that's as fancy as you want it to be!

Customized Furniture is segmented into five major product types such as Wood, Metal, Plastic, Leather, and others. During the forecasted period, the wood product type or wood furniture accounted for the largest market share; as wood is a natural raw material which is preset in abundance and can be used in production of almost all types of furniture. Also, application of wood offers various advantages such as durability as it lasts for years with very little and easy maintenance

? Asia Pacific Customized Furniture Market Attractiveness Analysis

The Asia Pacific and Japan Customized Furniture Market is experiencing a scaled level of attractiveness in China. China has a prominent presence and holds a highest share of the Asia-Pacific & Japan Market. It is anticipated to account for a significant market share of 32.07%by 2030. The country is projected to gain an incremental market value of USD 1,725.21Million and grow at a CAGR of 6.66%between 2023 and 2030.

In China, customers today favor portable and space-saving products due to the rise in the number of nuclear families. Therefore, with the opportunity to create ‘Your Own Furniture Based on Your Preferences’ and needs and the space that is available in home, this market is expanding quickly across China.

Furthermore, the India also growing at a faster pace. The country is projected to gain an incremental market value of USD 1,657.18Million and a CAGR of 7.34%between 2023 and 2030.Also, the Japan is anticipated to account for the market share of 28.63%by 2030, as it is projected to gain an incremental market value of USD 1,136.08Million. However, Rest of APAC region is growing with the highest CAGR of 10.02% during the forecasted period to gain incremental market value of USD 535.97Million.

? Asia Pacific Customized Furniture Market absolute Market Opportunity

The above diagram represents the absolute market opportunity for the Asia Pacific and Japan Customized Furniture Market. The Asia Pacific and Japan Customized Furniture Market is estimated to gain USD 509.01 Million in 2023 over 2022 value and the market is projected to gain a total of USD 6,849.48 Million between 2021 and 2030. The factors that are responsible for the market to create a potential growth opportunity in the forecasted period include

The rise in the standard of living, the rise in the demand for luxury furnishings, the growth of the real estate sector, hospitals, and workplaces are the main factors driving the market. In addition to supporting our daily activities like eating and sleeping, furniture is regarded as a crucial component of house décor. Every customer has a different set of tastes and wants their furniture to stand out from the crowd, which is one of the reasons why customized furniture offers so many various types and designs.

Asia Pacific Customized Furniture Market Outlook

So, get this - the furniture market in Asia Pacific is absolutely booming! It's a huge thing for the area's economy, and it's growing like crazy. I mean, people have basically been crafting furniture forever, right? They even discovered evidence of tables dating all the way back to the Stone Age! And get thisstone beds and storage containers were found in Scotland's Orkney Islands from around 2,000 BCE! Okay, we don't have tons of actual furniture from that far back, but the art gives us some amazing clues. You can see what furniture looked like in paintings and sculptures from places like Mesopotamia, China, and Egypt. Often, the same people building homes were also making the furniture. Then, fast forward to the 17th century, and furniture makers are suddenly a big deal! That's when they started calling them "cabinetmakers" around 1675 - you know, someone creating cabinets and other awesome things in a workshop. This focus on craftsmanship led to standardized ways of joining wood together, like joinery. But things really took off in the 14th and 15th centuries as styles and furniture use changed a lot. And as people got richer in the 17th and 18th centuries, the whole industry just kept evolving. Pretty neat, huh?

Furthermore, cabinetmakers and carpenters started using more power tools in the 20th century to speed up the production of unique customized furniture items. During this time, large showrooms continued to have workshops where products could still be customized and catered to customers’ individual needs, but purchasing wholesale from a supplier became customary.

? Porter’s Five Forces Analysis

So, Porter's five forces helps us see who's calling the shots in the market—basically, how buyers, suppliers, and competitors throw their weight around. When you look at the Asia Pacific Customized Furniture Market, you see a real dogfight happening as the big players try to grab the biggest slice. And guess what? We can totally break down that competition using those five forces. The buyers in Asia Pacific? They're a serious force—there are just so many of them! Especially in huge markets like India and China, their need for custom office, hotel, and retail furniture really gives them leverage, since tons of companies are ready to make exactly what they want. Suppliers, though? They have some say, but not a crazy amount. COVID-19 definitely messed things up, making it a pain to get raw materials when shipping routes were disrupted. And there are tons of other options besides custom furniture; you can find readymade furniture everywhere these days, both in stores and online, so substitutes are a real threat. Newbies trying to muscle in? It's not a walk in the park, but it's doable. The furniture business is blowing up in Asia Pacific. With fancy furniture becoming more popular and everyone wanting their own personalized designs, new players are definitely checking out the scene. All in all, the Asia Pacific Customized Furniture Market is a battle zone, with established brands, reasonable challenges for new companies, and plenty of chances for companies to set themselves apart.

? Value Chain Analysis

Okay, so crafting custom furniture really kicks off before the first hammer even swings. It all starts with sourcing the right materials – you know, metal, wood, leather, plastic – from various suppliers. What do you get out of it? Well, everything from chairs and tables to sofas, complete office setups, cupboards, doors, beds, and all sorts of living room stuff! Of course, prices bounce around depending on the materials and the hot trends. And seriously, high-quality raw materials are key to amazing furniture. They can account for a whopping 60% to 65% of the overall cost. We're talking wood, metal, plastic – heck, even bamboo and cane sometimes. In India, wood's the king; about 65% of furniture is built primarily with it. And get thisalmost a third of India is covered in forests, particularly hardwood trees, which are just perfect for making furniture!

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Asia Pacific Customized Furniture MarketSegmentation Analysis

Asia Pacific Customized Furniture Market is segmented on the basis of Product, Application, and Geography.

Asia Pacific Customized Furniture Market, By Product

  • Wood
  • Metal
  • Plastic
  • Leather
  • Others

To Get a Summarized Market Report By Product-

Okay, so when we look at this market by Product type, we're really talking about five main thingsWood, Metal, Plastic, Leather, and then everything else kind of lumped together in the "Others" category. But here's the thingWood totally crushed it in 2021, and it's expected to keep growing like crazy – maybe even the fastest of them all! I mean, think about it, wood comes from trees, those xylem bits, and it's basically all about lignin and cellulose. And we use it for everything, from gorgeous furniture and strong buildings to amazing art. When we talk about customized Wood furnishings, we're talking about anything with wood on it, made from wood composites, or uses manufactured wood materials – kitchen cabinets, tables, chairs, beds, you name it! Even places like government hospitals are full of wooden beds, seats, and storage, because they're affordable and practical. And let's be real, a comfy wooden chair can really help patients relax and feel better!

Asia Pacific Customized Furniture Market, By Application

  • Residential
  • Commercial

Wafer Cutting Fluids – are we talking Residential or Commercial? Well, get thisResidential was the big winner in 2021, and we're betting it'll keep booming! Asia Pacific is a huge part of that. Things are getting better over there, with urbanization, more people moving in, and everyone constantly using their gadgets. On top of that, people are all about getting personalized stuff – clothes, furniture, jewelry, you name it! Customized furniture, made exactly how you want it (the materials, the design, the color, everything!), might cost a bit more. But people are happy to pay for that perfect look, amazing quality, expert advice, and ultimate comfort in their homes. And here's the thing – people are buying loads of furniture (kitchen and bedroom sets!), and home furnishing and real estate are going crazy in Asia-Pacific, driving demand for custom furniture in homes!

Asia Pacific Customized Furniture Market, By Geography

  • China
  • Japan
  • India
  • South East Asia
  • Rest of APAC

To Get a Summarized Market Report By Geography-

So, when we talk about custom furniture in Asia Pacific, think China, Japan, India, South East Asia, and the Rest of APAC. China was the big player in 2021, and you know, we think they'll stay on top. We've really dug into what's happening with furniture in China - from how it's made, to the market changing, to where the wood even comes from. Get thisaround 50,000 companies are in the furniture game there, employing like 5 million people! Most are those small to medium-sized businesses, doing less than $36 million a year. The east coast, especially the south, is where it's all happening. You see a little international furniture now and then, but mostly it's all local stuff. But here's the thingthe rumor is that innovation is key to winning. Everyone thinks China's custom furniture scene is blowing up just because of cheap labor, but what about new ideas? We think offering custom stuff could really give Chinese furniture makers an edge, even if they're not always the cheapest. We even looked closely at four different parts of China's furniture world and we kinda think there's a connection between customization and being successful.

Asia Pacific Customized Furniture Market, By Players

The major players in the market are; include IKEA, Nitori, Oppein Home Group Inc., NAFCO Corporation, and Others.

Company Market Ranking Analysis

The parameters that have been considered for the ranking of the above-mentioned companies include the annual revenue, product portfolio, geographic reach, and market penetration. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries. The companies have adopted organic as well as inorganic growth strategies such as new s

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