The global bio furnishing market was valued at US$ 39.8 Bn at the end of 2021 and is predicted to expand at a high CAGR of 8.3% between 2022 and 2032, according to the latest industry report by Persistence Market Research.
Bio furnishings are made with a moral commitment to the environment using renewable resources extracted from environmental resources. These require minimal energy to produce, utilize, and dispose of, thus promoting sustainability. The wastage of wood, and carbon dioxide emissions, have reduced significantly. People have become more concerned about global warming and other environmental issues. There is a growing interest in bio furnishings made from wood, bamboo, glass tiles, and other materials.
Furthermore, enterprises are now producing high-quality bio furnishing products in a variety of sizes that offer the same benefits as other kinds, but in a broader range of sizes. Manufacturers are also embracing different patterns and sizes of bio furnishing items based on customer demand, which enriches the interior of homes and are incredibly safe as they are made from natural materials. All these factors are anticipated to drive global bio furnishing market expansion over the coming years.
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Key Takeaways from Market Study
- Europe has a lucrative bio furnishing market with increasing adoption of wooden furniture products, and the region is anticipated to hold a significant value share of 28.7% by the end of 2022.
- The United States is the largest market for bio furnishings and is expected to progress at a CAGR of 7.2% during the forecast period.
- Asia is one of the rising markets for bio furnishing products. The cumulative market of East Asia and South Asia is anticipated to be US$ 13.2 Bn in 2022.
- Online retailing is anticipated to be a well-liked channel of sales and is anticipated to grow rapidly due to a rise in people’s engagement on online shopping portals across the world.
“Premium feel, comfort, quality, and other advantages of bio furniture is driving the market for bio furnishing products. Meanwhile, rising awareness of global warming due to pollution is encouraging customers to shift their preference to bio furniture items,” says an analyst at Persistence Market Research.
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Key Market Players
The report underlines groundbreaking insights into the competitive scenario of the bio furnishing market, along with the highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include Vermont Woods Studios, Cisco Bros. Corp., Manchester Woodcraft, Greenington, Lee Industries, Inc., Williams-Sonoma Inc., La-Z-Boy Inc., Jiangxi Feiyu Bamboo Industry Group Co. Ltd., Moso International B.V., and Shenzhen Vincent Handicraft Co., Limited.
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