The latest report by IMARC, titled “RTA Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the Global RTA Furniture Market has reached US$ 13.1 Billion in 2021. RTA furniture, also known as knock-down, flat-pack, or kit furniture, offers the convenience of assembling it on site. It is also considered appropriate for optimizing small spaces on account of its dismantling properties. Some of the most common RTA furniture includes desks, tables, sofas, cabinets, chairs, beds, and wardrobes. It is manufactured from glass, wood and steel, and are either shipped flat-packed or unassembled. They can be customized as per the customer’s requirements and are available in numerous materials, sizes, and designs. In recent years, RTA furniture has gained traction due to its extensive adoption in commercial and residential complexes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
Global RTA Furniture Market Trends:
One of the primary factors driving the market is the rising preference for flexible furniture amongst the masses. Other than this, the shifting preferences of young consumers toward space-saving furniture are creating a positive influence on the market. As a result, RTA furniture is widely employed in apartments and offices with limited spaces. Besides this, the expanding real-estate sector, increasing urbanization, and discretionary expenditure on furnishing products are propelling the market growth. Furthermore, the growing trend of working from home (WFH) has led to a rise in the demand for home office furniture, thus strengthening the market growth. Along with this, the numerous product innovations, such as the introduction of click furniture technology which reduces the usage of nuts and bolts for assembling the furniture, are creating lucrative growth opportunities for the leading players in the market. Moreover, the vigorous promotional activities by key players and the easy accessibility of the product through online retail channels are escalating the demand for RTA furniture. Other growth-inducing factors include increasing expenditure capacities of the customers and excellent-quality furnishing products. Looking forward, IMARC Group expects the market value to reach US$ 18.2 Billion by 2027, expanding at a CAGR of 5.7% during the forecast period (2022-2027).
- Based on the product, the market has been divided into tables, chairs and sofas, storage, beds, and others.
- On the basis of the material, the market has been segregated into wood, glass, steel, and others.
- Based on the distribution channel, the market has been segmented into specialty stores, flagship stores, online stores, home centers, and others.
- On the basis of the end user, the market has been bifurcated into residential and commercial.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Ashley HomeStore, Bush Furniture, Flexsteel Industries Inc., Homestar Corporation, Inter IKEA Systems B.V., Prepac Manufacturing Ltd., Sauder Woodworking Co., Simplicity Sofas, South Shore Furniture, Tvilum A/S, Walker Edison Furniture Company LLC, Whalen Furniture (Li & Fung Limited).
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