Product ID: SQMIG25F2056
Global RTA Furniture Market Size, Share, Growth Analysis, By Material(Wood, Glass), By Application(Home, Office) - Industry Forecast 2024-2031
Report ID:
SQMIG25F2056 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
63 |
Figures:
65
Global RTA Furniture Market Insights
Global RTA Furniture Market size was valued at USD 14.40 billion in 2022 and is poised to grow from USD 14.98 billion in 2023 to USD 20.50 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).
The demand for RTA furniture finds substantial impetus within the younger consumer demographic, notably millennials, driven by their preference for space-efficient solutions. Additionally, the burgeoning trend of relocating for employment or business objectives, particularly prevalent among the younger generation, has significantly influenced market expansion, attributing to the heightened requirement for household fixtures. Notably, statistics indicate that a significant 83% of millennials have made purchases within the diverse spectrum of RTA furniture offerings.
Furthermore, the market showcases an upward trajectory in favor of RTA storage cabinets and bookshelves, largely due to the surging demand for tailored customization catering to individual space constraints within home settings. An illustrative instance is the collaborative endeavor between Nitori Co., Ltd. and Välinge Innovation AB, culminating in the creation of a novel range of RTA products equipped with Three spine click furniture technology, such as the N-Click product. This innovation streamlines the assembly process by minimizing the requirement for nuts and bolts, opting for a click-based connection method. The initial product lineup includes storage units, shelves, and chest of drawers, adeptly addressing the mounting consumer clamor for such versatile solutions.
US RTA Furniture Market is poised to grow at a sustainable CAGR for the next forecast year.
Global RTA Furniture Market Report Snapshots
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