Asia-Pacific Contract Furniture Market Size (2024 - 2029)

The Asia-Pacific contract furniture market is anticipated to experience notable growth, driven by an expanding working-class population and the evolving needs of modern consumers. The market size is influenced by the shift towards multi-purpose and technology-driven furniture, which aligns with current consumer preferences. Despite a temporary decline due to the pandemic's impact on corporate office spaces, the market is set to recover and expand, supported by economic growth and improved working conditions. The expansion of corporate offices further contributes to the positive outlook for the contract furniture sector in the region.

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Market Size of Asia-Pacific Contract Furniture Industry

Asia Pacific Contract Furniture Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.50 %
Market Concentration Medium

Major Players

Asia Pacific Contract Furniture Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Contract Furniture Market Analysis

Asia Pacific Contract Furniture Market is poised to grow at a CAGR of 5.5% during the forecast period.

The COVID-19 pandemic resulted in various changes in the furniture and contract furniture market, especially in 2020. Since most people started working from home, the need for furniture and accessories has been in high demand since people wanted to improve their homes. A reverse effect in the contract furniture is observed because many companies have completely shifted to work from home, downsized, or even closed down, which left a huge surplus of used furniture and very low demand for new products. A fall in demand for the contract furniture market was observed.

The contract furniture market is expected to experience significant growth during the forecast period because of the increasing working-class population. This sector accounts for 10-12% of the global furniture market. With the help of technology, companies can now manufacture multi-purpose, foldable, and technology-driven furniture, which is exactly what consumers are looking for today. The major factors that are fueling the demand for this market are the growing economy and improving working conditions. Expansion of various corporate offices is observed, which will positively impact this market.

APAC Contract Furniture Industry Segmentation

Contract furniture is any furniture designed and manufactured for commercial installation in offices, waiting rooms, lobbies, and other public or high-use spaces. The frames of this type of furniture are typically constructed of hardwood or steel, built to withstand minimum weight requirements, and usually carry a warranty of five years or more. The report aims to provide a detailed analysis of the Contract Furniture Market in the Asian-Pacific region.

The Asian-Pacific contract furniture market is segmented by material (wood, metal, plastic, and other materials), by product (seating, storage units, tables, workstations, and other products), by distribution channel (online and offline), by end users (Offices, Hotels, Hospitals, and Others), and by geography (China, Japan, India, Australia, and Rest of Asia-Pacific)

By Material
Wood
Metal
Plastic
Other Materials
By Product
Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others)
Storage Units (Bins & Shelves, Cabinets, Others)
Tables (Conference Tables, Occasional Tables, Others)
Workstation
Other Products
By Dstribution Channel
Online
Offline
By End Users
Office
Hotels
Hospitals
Other End Users (Schools, Airports, etc)
By Geography
China
Japan
India
Australia
Rest of Asia-Pacific
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Asia-Pacific Contract Furniture Market Size Summary

The Asia-Pacific contract furniture market is poised for growth, driven by an increasing working-class population and the expansion of corporate offices. The market, which constitutes a significant portion of the global furniture industry, is experiencing a shift due to technological advancements that enable the production of multi-purpose and technology-driven furniture. This evolution is meeting the contemporary demands of consumers and is supported by a growing economy and improved working conditions. The rise in office construction and the need for operational workspaces are contributing to the increased demand for office furniture, both regionally and globally. China stands out as a leading manufacturer and exporter of contract furniture, benefiting from its robust economic development and industrial-scale production capabilities.

The market landscape in the Asia-Pacific region is moderately consolidated, with a few key players holding substantial market shares. The presence of major multinational firms underscores the competitive nature of the industry, where brand value and entry barriers are significant. However, mid-size and smaller companies are gaining traction through technological improvements and product innovations, expanding their market presence by securing new contracts and entering new markets. The demand for modular offices is on the rise, fueled by innovative designs. Notable players in the market include Fursys, Hyundai Livart, Itoki, Kinwai, and Kokuyo Furniture, with recent strategic acquisitions highlighting the dynamic nature of the industry.

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Asia-Pacific Contract Furniture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material

      1. 2.1.1 Wood

      2. 2.1.2 Metal

      3. 2.1.3 Plastic

      4. 2.1.4 Other Materials

    2. 2.2 By Product

      1. 2.2.1 Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others)

      2. 2.2.2 Storage Units (Bins & Shelves, Cabinets, Others)

      3. 2.2.3 Tables (Conference Tables, Occasional Tables, Others)

      4. 2.2.4 Workstation

      5. 2.2.5 Other Products

    3. 2.3 By Dstribution Channel

      1. 2.3.1 Online

      2. 2.3.2 Offline

    4. 2.4 By End Users

      1. 2.4.1 Office

      2. 2.4.2 Hotels

      3. 2.4.3 Hospitals

      4. 2.4.4 Other End Users (Schools, Airports, etc)

    5. 2.5 By Geography

      1. 2.5.1 China

      2. 2.5.2 Japan

      3. 2.5.3 India

      4. 2.5.4 Australia

      5. 2.5.5 Rest of Asia-Pacific

Asia-Pacific Contract Furniture Market Size FAQs

The Asia-Pacific Contract Furniture Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)

Hyundai Livart, Itoki, Kinwai, Kokuyo Furniture and Uchida Yoko are the major companies operating in the Asia-Pacific Contract Furniture Market.

Asia-Pacific Contract Furniture Report Snapshots

Asia-Pacific Contract Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)