The global office furniture market is set to witness significant growth, with projections indicating it will reach $110.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031, according to a new report by Meticulous Research®. The primary drivers behind this growth are corporate expansion, the increasing number of startups, and the rising demand for ergonomic and aesthetically pleasing workspaces. However, the rise in work-from-home trends presents a notable challenge to the growth of this market. On the other hand, the growing adoption of ergonomic office chairs is likely to provide growth opportunities for companies in this sector. Yet, competition from local manufacturers continues to pose a significant hurdle.

Request for Sample Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5877?

Product Segmentation

The office furniture market is segmented by product, including chairs, desks & tables, storage, lounge, and other furniture. Among these, the chairs segment is expected to dominate the market in 2024, accounting for over 53% of the total market share. This can be attributed to the increasing emphasis on reducing health risks associated with poor seating, such as back and neck pain. Furthermore, organizations are investing in high-quality chairs that are durable and contribute to a professional office environment.

Conversely, the lounge segment is anticipated to grow at the fastest pace during the forecast period. The increasing preference for creating relaxed workspaces, incorporating areas where employees can unwind, conduct informal meetings, or engage in social interactions, is driving the demand for lounge furniture.

Material Segmentation

In terms of materials, the market is divided into wooden, metallic, glass, plastic & fiber, and resin furniture. In 2024, plastic and fiber furniture is expected to hold the largest market share, exceeding 30%. These materials are popular due to their affordability, lightweight properties, and eco-friendly alternatives such as furniture made from recycled materials. Moreover, plastic and fiber furniture allow for flexible office layouts, making it easier to rearrange spaces as needed.

On the other hand, resin furniture is projected to have the highest CAGR. The durability and resistance of resin furniture to wear and tear make it ideal for high-traffic office spaces. Additionally, the broad range of available designs, colors, and styles allows organizations to customize their office furniture to suit various aesthetic preferences.

Distribution Channels

The office furniture market is segmented by distribution channel into online and offline sales. In 2024, offline sales are expected to account for 58% of the market share. This is largely due to customers’ preference for physically inspecting and testing furniture in stores, as well as personalized assistance from sales representatives. Additionally, businesses often prefer offline purchases for bulk discounts and special pricing options.

However, online sales are predicted to grow at the fastest rate. The convenience of browsing and purchasing furniture from the comfort of the office, along with the ability to compare prices and product features across various sellers, is driving this growth. The e-commerce sector’s continued expansion will further fuel online sales in the office furniture market.

Geographical Segmentation

Geographically, the Asia-Pacific region is expected to lead the office furniture market in 2024, accounting for over 45% of the market share. The region’s dominance is driven by a growing working population, rapid corporate expansion, and the rise of business zones and IT parks. Additionally, the large number of office furniture manufacturers and exporters in the region contributes to its significant market share.

Asia-Pacific is also expected to register the highest CAGR, exceeding 8%, during the forecast period. The region’s economic growth and increasing focus on modernizing office spaces will further boost demand for office furniture in the coming years.

Key Market Players

Some of the prominent companies operating in the office furniture market include Haworth, Inc. (U.S.), Steelcase Inc. (U.S.), Okamura Corporation (Japan), MillerKnoll, Inc. (U.S.), KOKUYO Co., Inc. (Japan), Global Furniture Group (U.S.), Vitra International AG (Germany), Meridian Office Furniture Limited (U.K.), D3, Inc. d.b.a. 9to5 Seating (U.S.), Berco Designs (U.S.), Hooker Furnishings Corporation (U.S.), Kimball International, Inc. (U.S.), and HNI Corporation (U.S.).

Buy Now: https://www.meticulousresearch.com/Checkout/38727631?

About Meticulous Research®  

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. 

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. 

Contact Us:  

Meticulous Research®  

Email- sales@meticulousresearch.com  

Contact Sales- +1-646-781-8004  

Connect with us on LinkedIn - https://www.linkedin.com/company/meticulou s - researc h

Meticulous Research® has recently published an in-depth report on the global office furniture market , titled “Office Furniture Market by Product, Material, Distribution Channel, and Geography—Global Forecast to 2031” . The report reveals that the market is projected to reach an impressive $110.7 billion by 2031, registering a CAGR of 6.9% from 2024 to 2031.

Request For Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5877?

Market Growth Driven by Corporate Expansion and Startups
The expansion of corporate offices and a surge in the number of startups are key drivers propelling the office furniture market's growth. Additionally, there is an increasing demand for ergonomic, comfortable office environments that support employee well-being and productivity. However, the growing trend of remote work has limited the demand for traditional office furniture, as more employees set up home workspaces. Despite this, rising investment in ergonomic furniture, such as high-quality chairs, offers significant growth opportunities for manufacturers. Local competition remains a challenge for large global players, posing obstacles to market expansion.

Product Segment: Chairs Leading the Market
In terms of product categories, chairs are expected to dominate the market in 2024, accounting for over 53.0% of the total office furniture market share. The demand for ergonomic chairs is primarily driven by the need to minimize the risks associated with prolonged sitting, such as muscle strains, back pain, and neck pain. Businesses are increasingly investing in premium office chairs designed for frequent and long-term use, as these chairs enhance workplace aesthetics and employee comfort.

However, the lounge furniture segment is expected to experience the highest growth rate during the forecast period. Lounges provide employees with designated spaces for relaxation, informal meetings, and social gatherings, which is becoming an essential part of modern office design.

Material Segment: Plastic & Fiber Furniture Dominates, Resin Furniture on the Rise
When it comes to materials, plastic & fiber furniture is set to hold the largest market share in 2024, capturing over 30.0% of the total market. Plastic & fiber furniture offers numerous advantages, including affordability, lightweight construction, and flexibility for easy rearrangement. These materials are increasingly favored for their eco-friendly options, with furniture made from recycled materials gaining popularity.

Meanwhile, the resin furniture segment is expected to witness the fastest growth rate during the forecast period. Resin furniture is known for its durability and resistance to wear and tear, making it ideal for high-traffic office spaces. Its resistance to corrosion and rust also makes it suitable for offices located in humid or coastal environments.

Distribution Channels: Offline Segment Dominates, Online Sales Growing Rapidly
The offline distribution channel is expected to account for the majority share of the office furniture market in 2024, with over 58.0% of sales. Physical stores provide the advantage of allowing customers to inspect and test furniture before making a purchase. Additionally, offline retailers offer personalized services and special pricing for bulk purchases.

However, online sales channels are poised for significant growth, driven by the increasing popularity of e-commerce platforms. Online shopping allows businesses to easily compare prices and order furniture from the convenience of their offices. As more companies embrace digital purchasing, the online segment is expected to record the highest CAGR during the forecast period.

Asia-Pacific: Leading Region for Office Furniture Market Growth
Asia-Pacific is expected to dominate the global office furniture market, accounting for more than 45.0% of the market share in 2024. The region’s market leadership is attributed to several factors, including the growing working population, the expansion of corporate offices, and the rise of office furniture manufacturers and exporters. Additionally, the increasing number of business zones and IT parks in the region is contributing to the demand for office furniture.

Asia-Pacific is also projected to register the highest growth rate, with a CAGR exceeding 8.0% during the forecast period, making it a critical region for office furniture manufacturers and suppliers.

Leading Companies in the Office Furniture Market
Key players in the global office furniture market include Haworth, Inc. (U.S.), Steelcase Inc. (U.S.), Okamura Corporation (Japan), MillerKnoll, Inc. (U.S.), KOKUYO Co., Inc. (Japan), Global Furniture Group (U.S.), Vitra International AG (Germany), Meridian Office Furniture Limited (U.K.), D3, Inc. d.b.a. 9to5 Seating (U.S.), Berco Designs (U.S.), Hooker Furnishings Corporation (U.S.), Kimball International, Inc. (U.S.), and HNI Corporation (U.S.).

Buy Now: https://www.meticulousresearch.com/Checkout/38727631?

About Meticulous Research®  

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. 

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. 

Contact Us:  

Meticulous Research®  

Email- sales@meticulousresearch.com  

Contact Sales- +1-646-781-8004  

Connect with us on LinkedIn - https://www.linkedin.com/company/meticulou s - researc h

A recent market analysis 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," forecasts that the office furniture market will grow to $110.7 billion by 2031, with a CAGR of 6.9% from 2024 to 2031.

Request For Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5877?

Office furniture is designed to enhance comfort, functionality, and organization within a workspace. It includes various products such as chairs, desks & tables, storage units, and lounge seating, made from materials including wood, metal, glass, plastic, fiber, and resin.

The market's growth is fueled by the expansion of corporate offices, a rise in new businesses, and an increasing demand for well-designed work environments. However, the growing trend of remote work poses a challenge. On the flip side, the demand for ergonomic office chairs presents new opportunities, though competition from local manufacturers remains a challenge.

The market is segmented into products like chairs (revolving, boss, fixed), desks & tables (executive, conference, coffee, reception, work, standing), storage (cabinets, cupboards, bookshelves), lounges (sofas, armchairs, poufs, ottomans), and others. Materials include wooden, metallic, glass, plastic & fiber (polyester, nylon), and resin (acrylic, vinyl). Distribution channels are categorized into online and offline, and the market is analyzed by region.

Chairs are expected to dominate the market in 2024, with a share of over 53.0%, due to their importance in addressing health issues like back pain and neck strain and enhancing office aesthetics. The lounge segment is anticipated to have the highest CAGR due to its growing use for relaxation and informal meetings.

Plastic & fiber furniture is projected to lead the market with over 30.0% share in 2024, due to its cost-effectiveness and flexibility. The resin furniture segment is expected to see the highest growth rate, attributed to its durability and resistance to environmental factors.

Offline sales are likely to hold a larger share of over 58.0% in 2024, preferred for the ability to inspect and test furniture. However, the online segment is expected to experience the highest CAGR due to the rise of e-commerce and the convenience of online shopping.

Asia-Pacific is projected to account for more than 45.0% of the market share in 2024, driven by increased corporate presence and furniture production in the region. This region is also set to achieve the highest CAGR of above 8.0% during the forecast period.

Major players in the office furniture market include Haworth, Inc., Steelcase Inc., Okamura Corporation, MillerKnoll, Inc., KOKUYO Co., Inc., Global Furniture Group, Vitra International AG, Meridian Office Furniture Limited, D3, Inc. d.b.a. 9to5 Seating, Berco Designs, Hooker Furnishings Corporation, Kimball International, Inc., and HNI Corporation.

Buy Now: https://www.meticulousresearch.com/Checkout/38727631?

About Meticulous Research®  

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. 

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. 

Contact Us:  

Meticulous Research®  

Email- sales@meticulousresearch.com  

Contact Sales- +1-646-781-8004  

Connect with us on LinkedIn - https://www.linkedin.com/company/meticulou s - researc h