Meticulous Research® recently released a comprehensive report titled, ‘Office Furniture Market by Product (Chairs, Desks & Tables, Storage, Lounge), Material (Wooden Furniture, Plastic & Fiber Furniture, Resin Furniture), Distribution Channel (Online, Offline), and Geography - Global Forecast to 2031.’ The report projects the global office furniture market to grow to $110.7 billion by 2031, at a CAGR of 6.9% from 2024 to 2031. This growth is largely fueled by corporate expansion, a surge in startup establishments, and the demand for office environments that prioritize comfort and functionality for employees. The increased popularity of ergonomic chairs also presents substantial growth opportunities for market players, although the shift towards work-from-home arrangements continues to limit some aspects of market growth.
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Product Segment Insights
The office furniture market categorizes its products into chairs, desks & tables, storage, lounge furniture, and additional products. Among these, chairs are anticipated to hold the largest market share of over 53% in 2024, driven by the growing focus on ergonomic designs to reduce muscle strains and enhance productivity. However, the lounge segment is expected to witness the highest growth rate throughout the forecast period, with companies increasingly incorporating lounges to support casual interactions, individual work, and relaxation.
Material Trends
The market segments office furniture materials into wooden, metallic, glass, plastic & fiber, and resin. In 2024, plastic & fiber furniture is predicted to dominate with over 30% of the market due to its affordability, lightweight nature, and eco-friendly appeal through recycled materials. Conversely, resin furniture is projected to achieve the highest CAGR as it offers high durability and aesthetic flexibility, making it ideal for high-traffic areas and varied office decor.
Distribution Channel Analysis
Distribution channels for office furniture are classified into online and offline. The offline segment, capturing over 58% of the market in 2024, maintains its prominence because physical stores allow customers to inspect and test products before purchasing. The online segment, however, is poised for the highest CAGR due to the convenience of e-commerce, transparency in pricing, and easy comparisons across vendors.
Geographical Insights
Asia-Pacific is expected to lead the global office furniture market in 2024 with a share of over 45%, propelled by the expanding workforce, new business zones, and a surge in office furniture production. This region is also forecasted to have the fastest growth rate at a CAGR of 8.0%, reflecting ongoing investments in corporate and industrial infrastructure.
Key Market Players
Leading companies in this sector include Haworth, Inc., Steelcase Inc., Okamura Corporation, MillerKnoll, Inc., and KOKUYO Co., Inc., among others. These companies are essential in meeting the demand for quality, ergonomic, and sustainable office furniture solutions.
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