February 26, 2024
Global Luxury Upholstery Fabric Market

Global Global Luxury Upholstery Fabric Market To Be Flourished By Rapid Growth Of Luxury Home Furnishings Sector

Luxury upholstery fabrics refer to finely crafted and exquisitely designed fabrics that are used to upholster high-end home furnishings such as sofas, chairs, ottomans and headboards. Popular luxury upholstery fabrics include silk, velvet, linen, leather and cotton. These fabrics are known for their subtle textures, durable quality and aesthetic appeal. The global luxury home furnishings sector has witnessed robust growth in recent years driven by rising disposable incomes and changing consumer preferences towards premium home décor products. The market for luxury upholstered furniture such as sofas, lounge chairs and ottomans has expanded significantly, thus driving the demand for luxury upholstery fabrics.

The global Global Luxury Upholstery Fabric Market was valued at US$ 5.58 billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

The rapid growth of the luxury home furnishings sector is a key driver for the Global Luxury Upholstery Fabric Market. As highlighted in the heading, the rising affluence of consumers has boosted demand for premium home décor products globally. Additionally, changing lifestyles and increasing consumer inclination towards Self purchased homes has augmented the sales of premium upholstered furniture which in turn is propelling the Global Luxury Upholstery Fabric Market. Fabric technology advancements resulting in the development of new fabric varieties such as stain-resistant velvet and easy-care leather have further expanded the addressable market for luxury upholstery fabrics.

Segment Analysis

The global Global Luxury Upholstery Fabric Market is dominated by upholstery fabrics used in residential applications which accounts for more than 60% share of the market. This segment is dominating as luxury upholstery fabrics are extensively used in homes for sofas, chairs, beds and other furniture items to enhance the aesthetic appeal of homes.

PEST Analysis

Political: There are no significant political risks affecting the Global Luxury Upholstery Fabric Market.
Economic: The economic growth in developed economies and rising income levels in developing economies is driving demand for luxury home furnishings and hence boosting the Global Luxury Upholstery Fabric Market.
Social: Changing consumer lifestyles and rising focus on home decor are positively impacting the market.
Technological: Advanced fabric manufacturing technologies are helping players develop innovative and high-quality upholstery fabrics.

Key Takeaways

The Global Luxury Upholstery Fabric Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising consumer spending on home furnishings. The residential segment dominates the market and is expected to continue its leadership during the forecast period. The Global Luxury Upholstery Fabric Market was valued at US$ 5.58 billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024-2030.

Regional Analysis

The Asia Pacific Global Luxury Upholstery Fabric Market is poised to grow at an impressive CAGR during the forecast period led by strong growth in countries such as China, India and other Asian economies. Favorable economic conditions, growing middle-class population and rising disposable incomes are driving demand for premium home furnishings in the region.

Key Players

Key players operating in the Global Luxury Upholstery Fabric Market are Fabricut Inc., Aquafil S.p.A, Brentano Inc., Carnegie Fabrics LLC, Designtex, Kravet Inc., Maharam Fabric Corporation, Marvel Textiles, Jim Thompson. Fabricut Inc. holds a dominant market share owing to its diverse product portfolio and global sales and distribution network.

Reasons to Purchase Global Luxury Upholstery Fabric Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Global Luxury Upholstery Fabric Market.

FAQ’s

Q.1 What will the market development pace of the Global Luxury Upholstery Fabric Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the Global Luxury Upholstery Fabric Market?

Q.3 What are the market opportunities and threats faced by the vendors in the Global Luxury Upholstery Fabric Market?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it