Allied Market Research published a new report, titled, “Hospitality Furniture Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Hospitality furniture are fixtures used for commercial purpose in a hotel, restaurant or commercial areas where people tend to use more luxurious furniture. It is designed in a manner to resist wear and tear as they will be used for long period of time by many people and are expected to be more durable and of commercial grade quality to sustain longer period of time. The various hospitality furniture are sofas in lounge and hotel rooms, wardrobes, table and chair, luxurious beds, shoe rack, dressing table sets and other furniture used in these places. There has been a high demand for customized and themed furniture that suits the interiors of the building from the hotel owners and other hospitality furniture buyers. The growing demand related to customized and themed furniture has created opportunities for new players to enter the market.
Regional Analysis – North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
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Key Market Players Profiled In The Report: – Louis Interiors, Artone, Bernhardt Furniture Company Inc., Charter Furniture, Buhler Hospitality., Bryan Ashley Inc, Dickson Furniture, AAI American Atelier Inc., Matrix Hospitality Furniture, BSG, JSP-Industries, Maritime Hospitality, Luxury Hotel Furniture, Edgewood, Iteknia, Eurekka Hospitality
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in usage of hospitality furniture at lounges in airport, railway station and other commercial buildings and demand for hospitality furniture due to high durability and stability by hotels, restaurants, and resorts drive the growth of the global hospitality furniture market. In addition, the rise of tourism and craze of travelling worldwide has made the millennial go crazy about visiting new countries and exploring which has increased the demand of hotels and resorts hence increasing demand of hospitality furniture. However, the major constraints of the industry are the competition from local players who provide the furniture at lower price than the ongoing market scenario. Innovation in the industry is related to customized and themed furniture for different themes of hotels, airports, resorts and other commercial space.
COVID-19 Scenario Analysis:
- The current situation has made all the production process of hospitality furniture to halt as the major industry is based on labor power and there is unavailability of labor due to pandemic.
- The demand for hospitality furniture will be steady as there will be a major drop in tourism due to restrictions in international travelling and the outbreak of COVID-19.
New trend of Mix-Material for Bold looks
The global hospitality furniture demand has been changing from fine quality wood to use of other materials such as metals, textiles and other eye-catching materials. The hotel and resort owners are changing the preference as per customers demand of more attractive and photogenic furniture. This has made the manufacturers to design the furniture using a mixture of wood, textured textile and colorful metals. In addition, the craze of geometrical patterned background and furniture to suit the same interior are in high demand.
Surge in demand of Green Furniture
With the rise in pollution and environmental issues the travelers are now more concerned about the eco-friendly nature of their hotel owners and other things they use. This has become a reason the commercial and hospitality owners are demanding green furniture that are made using sustainable forest woods and have low-toxic materials that do not harm the nature. The market leaders have come up with different green furniture such chairs by Herman Miller are made up of fewer raw materials than regular chairs but the chair supports all the features of a normal chair.
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global hospitality furniture industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hospitality furniture market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global hospitality furniture market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global hospitality furniture market analysis based on competitive intensity and how the competition will take shape in coming years.
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