The institutional and office furniture manufacturing market comprise firms are involved in designing office furniture including office chairs and desks, office and store fixtures, such as showcases. It also includes firms involved in producing all types of furniture parts and frames. The institutional and office furniture manufacturing market in this report is segmented into institutional furniture and office furniture.
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The global institutional and office furniture manufacturing market has been growing in the past years with a CAGR of almost 10%. The year 2017 recorded high growth in this market with a net market value more than 30% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global institutional and office furniture manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Furniture manufacturers are adopting sustainable practices in their manufacturing process. This is mainly a result of growing consumer awareness on sustainable living that is resulting in increasing demand for eco–friendly furniture. This includes minimizing fuel consumption and recycling sheet metal and wood by–products. Companies manufacturing ecofriendly furniture products procure wood from plantations that grow sustainable plants and have a long term conservation policy. For example, Crate and Barrel, a North American home retailer is working directly with the Tropical Forest Trust to ensure that the selected hardwood for manufacturing of their furniture is from sustainable plantations that are managed for their long term conservation.
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Companies included in the report are IKEA AB, Herman Miller Inc, HNI Corporation, Okamura Corporation, Knoll, and Leggett & Plat.
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