Modular and Flat Pack Furniture market Size, Share, Growth, and Industry Analysis, By Type (Workplace Furniture and Home Furniture), By Application (Online Sales, Flagship Store, Home Centers, Designers and Others), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

MODULAR AND FLAT PACK FURNITURE MARKET REPORT OVERVIEW

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The global modular and flat pack furniture market size was USD 14223.36 million in 2022 and the market is projected to touch USD 25952.54 million by 2031, exhibiting a CAGR of 6.91% during the forecast period.

The market is a segment of the global furniture industry that offers furniture products that are designed to be easily assembled, disassembled, and reconfigured by the customers themselves. These products are usually made of wood, metal, plastic, or a combination of these materials, and are delivered in flat packages that contain all the necessary components and instructions.

The market is driven by various factors, such as the increasing demand for space-saving and multifunctional furniture, the rising disposable income and urbanization in emerging markets, the growing preference for sustainable and eco-friendly furniture, and the adoption of e-commerce and online platforms for furniture shopping. However, the market also faces some challenges, such as the disruption of supply chains and logistics due to the COVID-19 pandemic, the lack of skilled labour and standardization in the furniture industry, and the high competition from traditional and local furniture manufacturers.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on the modular and flat pack furniture market share. The pandemic has disrupted the supply chains and logistics of the furniture industry, leading to delays, shortages, and increased costs of raw materials and transportation. The lockdowns and social distancing measures have also reduced the demand for furniture in some sectors, such as hospitality, tourism, and office spaces. Moreover, the pandemic has created uncertainty and financial stress for many consumers, who may postpone or cancel their furniture purchases. 

LATEST TRENDS

"Increasing Use of Augmented Reality (AR) and Virtual Reality (VR) to Drive Market Growth"

One of the recent trends in the market is the increasing use of augmented reality (AR) and virtual reality (VR) technologies to enhance the customer experience and satisfaction. These technologies allow customers to visualize and customize the furniture products in their own spaces, using their smartphones, tablets, or headsets. This helps customers to make better and faster decisions, as well as reduce the risk of returns and complaints. For example, IKEA’s Place app allows customers to preview over 2,000 pieces of furniture at home before purchasing them1. Similarly, Wayfair’s View in Room 3D app lets customers see how the furniture products look and fit in their rooms.

MODULAR AND FLAT PACK FURNITURE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into workplace furniture and home furniture.

Workplace furniture includes various types of furniture products that are used in offices, factories, warehouses, schools, hospitals, and other commercial and industrial settings. These products are usually made of metal, plastic, or wood, and are designed to provide comfort, functionality, and productivity to the workers and employees. Some examples of workplace furniture are desks, chairs, cabinets, shelves, lockers, and partitions. Home furniture includes various types of furniture products that are used in residential settings, such as living rooms, bedrooms, kitchens, bathrooms, and gardens. These products are usually made of wood, metal, plastic, or a combination of these materials, and are designed to provide style, comfort, and convenience to the homeowners and residents.

• By Application

Based on application the global market can be categorized into online sales, flagship store, home centers, designers and others.

Online sales include various e-commerce websites and applications that offer a wide range of modular and flat pack furniture products to the customers, who can browse, compare, and order them online. Flagship store refers to the physical retail outlets that are owned and operated by the furniture manufacturers or brands, and showcase their products and services to the customers. Home centers are large-scale retail stores that sell a variety of home improvement and furnishing products, including modular and flat pack furniture. Designers are individuals or firms that offer customized and personalized modular and flat pack furniture solutions to the customers, based on their specific needs, preferences, and spaces.

DRIVING FACTORS

"Growing Demand for Multifunctional and Adaptable Furniture to Boost the Market"

There has been a growing demand for multifunctional and adaptable furniture that can suit different needs, preferences, and spaces. Modular and flat pack furniture offer flexibility, versatility, and personalization to customers, who can mix and match different components, colors, and styles to create their own unique designs. Moreover, modular and flat pack furniture can be easily assembled, disassembled, and reconfigured, which makes them ideal for small and urban living spaces, as well as for changing lifestyles and needs.

"Rising Disposable Income and Urbanization to Expand the Market"

The rising disposable income and urbanization in emerging markets, such as China, India, Brazil, and South Africa. These markets have a large and growing middle-class population, who are seeking better quality and branded furniture products, as well as more stylish and comfortable living spaces. Modular and flat pack furniture can cater to these markets, as they offer affordable, durable, and modern furniture solutions, as well as convenience and accessibility through online and offline channels.

RESTRAINING FACTOR

"Lack of Skilled Labor and Standardization to Potentially Impede Market Growth"

One of the restraining factors for the modular and flat pack furniture market is the lack of skilled labor and standardization in the furniture industry, especially in the developing regions. The furniture industry is highly fragmented and dominated by small and medium-sized enterprises, which often face challenges in terms of quality, design, innovation, and compliance.

MODULAR AND FLAT PACK FURNITURE MARKET REGIONAL INSIGHTS

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"Asia Pacific Region Dominating the Market due to Owing to the Presence of Many Major Players "

Asia-Pacific is expected to be the highest modular and flat pack furniture market growth. China, Japan, Australia, India, and South Korea are the largest contributors to the region, accounting for more than 80% of the market share in 2022. These countries have a huge and expanding population, as well as a robust and diversified economy, which create a high demand for furniture products in various sectors, such as residential, commercial, hospitality, and education. Many major players in the modular and flat pack furniture market are forming partnerships with e-commerce retail outlets to strengthen their distribution networks, which is likely to drive market growth in the region.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The Modular and flat pack furniture market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• South Shore (Canada)
• Bestar (Bush Industries) (Canada and U.S)
• Dorel Industries (Canada)
• Vivonio Group (Germany)
• Whalen Furniture (U.S and China)
• Prepac (Pakistan)
• Sauder Woodworking (U.S)
• IKEA (Netherlands and Sweden)
• Flexsteel (Home Styles) (U.S)
• Forte (Cambodia)
• Friul Intagli (Italy)
• Homestar (China)
• Simplicity Sofas (U.S)

INDUSTRIAL DEVELOPMENT

June 2014:  One of the recent industrial developments in the market is the wedge dowel, which was invented by prototype engineers at the IKEA pattern shop in the Swedish town of Älmhult. It is a small ribbed fitting that is milled on the end of wooden legs, which can be clicked directly into a matching pre-drilled hole in the underside of a table top, without the need for screws, bolts, screwdrivers, or allen keys. This invention makes the assembly of wooden furniture much quicker and simpler, as well as reduces the waste and cost of packaging and transportation.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.