RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serve the purpose of quick furnishings. A RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer and is available in parts with instructions to assemble the piece of furniture. This furniture has been popular for a while in developed countries, but RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some of the examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases and RTA filing cabinets. For instance, IKEA a major ready to assemble manufacturer, is setting up its store in Hyderabad, India, owing to high demand for ready to assemble furniture in India.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL HOUSEHOLD FURNITURE AND KITCHEN CABINET MANUFACTURING MARKET TO GROW TO $303 BILLION BY 2021
Asia Pacific was the largest region in the household furniture and kitchen cabinet manufacturing market in 2017, accounting for nearly half of the market share. This can be attributed to high demand for household and kitchen furniture from middle class population in countries such as China and India, owing to rising disposable income.
The chart below shows the year-on-year growth of the global household furniture and kitchen cabinet manufacturing market during 2017– 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, the demand for small and portable furniture in urban centres is increasing. This is mainly because of the compact size and low cost these furniture offers, making them ideal for small households. Small and portable furniture are small in size when compared to a conventional furniture and can be used for multiple purposes. For instance, a small-sized storage box can be used as a small seat or table, as well as to store personal belongings is a small and portable furniture.
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IKEA AB* was the largest player in the global household furniture and kitchen cabinet manufacturing market, with revenues of $40.2 billion in 2017. IKEA’s growth strategy aims at increasing revenues launch products for young population and offer its products at competitive prices. The company also plans to expand in the US market by opening nearly a dozen stores over the next two years.
The household furniture and kitchen cabinet manufacturing market comprises all firms engaged in producing household furniture including furniture for kitchen, bedroom and living room.
Household Furniture And Kitchen Cabinet Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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