LONDON–(BUSINESS WIRE)–The RTA furniture market in the US is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The highly developed organized retail sector in the US allows consumers to search for information on brands to differentiate them over quality, price, and design. This helps consumers in making informed purchase decisions. Consumers are also increasingly purchasing branded furniture and other home furnishing products by organized retailers due to increasing brand consciousness. Moreover, online retailing is among the rapidly growing distribution channel which offers a wide range of RTA furniture. It is popular among millennials and generation Z due to its easy accessibility and convenience. Therefore, the highly developed online and offline organized retail sectors will drive the growth of RTA furniture market in the US.
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As per Technavio, the focus on sustainable operations and offerings, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
RTA Furniture Market in the US: Focus on Sustainable Operations and Offerings
The focus on sustainable operations and offerings will be one of the critical trends in the RTA furniture market in the US. Vendors in the RTA furniture market are influenced to adopt sustainable processes to provide eco-friendly offerings that will help to offset the negative environmental effect from the furniture industry. Increasing concerns over deforestation, global warming, and waste generation have also positively impacted the RTA furniture market. Companies are making efforts to eliminate or minimize waste generation by optimizing processes and implementing recycling methods. The demand for RTA furniture using sustainable practices is also increasing because it helps in lowering trim cuts and wood scraps. Therefore, the increasing focus of vendors toward sustainable operations and eco-friendly offerings will support the growth of RTA furniture market in the US.
“The emergence of smart furniture and the rise of the construction industry in the region are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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RTA Furniture Market in the US: Segmentation Analysis
This market research report segments the RTA furniture market in the US by product (home and office) and retail formats (offline and online).
The home segment led the market share in 2018, followed by the office segment. During the forecast period, the home segment is expected to maintain its dominance over the global market. This is due to the expansion of residential construction in the US.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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