Allied Market Research published a new report, titled, “Hospitality Furniture Market 2022-2029” 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.
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.
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.
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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.
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.
Geographically 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)
The key market players profiled in the report include 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
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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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