Lounge Furniture Market Report 2024 (Global Edition)

Global Lounge Furniture Market Report 2024 Market Size Split by Material (Plastic, Wood, Metal, Fabric), by Application (Residential, Commercial, Hospitality, Institutional, Inpool), by Style (Traditi...

Lounge Furniture Market Report Description

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Competitive Landscape of the Lounge Furniture Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

 

Top Companies Market Share in Lounge Furniture Industry: (In no particular order of Rank)

• Atlas Commercial Products
• McCourt
• IKEA
• Mainstay
• COSCO
• MityLite
• Drake
• Lifetime
• Siddhi Polymers
• Qingdao Blossom Furnishings
• Comseat
• Gopak
• XinYiMei Hotel Furniture
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Lounge Furniture Market

Which Region Will Dominate the Lounge Furniture Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The market for lounge furniture is expanding in North America as a result of factors such growing urbanization, rising disposable incomes, and changing consumer preferences for fashionable yet cozy home furnishings. Market growth is also aided by changes in consumer preferences for sustainable materials and technological breakthroughs. Manufacturers and merchants benefit from these trends by providing cutting-edge goods and meeting a wide range of customer demands

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase, in the sales of reagents. The market for lounge furniture in Europe is developing as a result of urbanization, shifting lifestyles, and an increased focus on interior design. The market is expanding due to growing disposable incomes and consumer preferences for fashionable, high-quality furniture. In order to satisfy consumer demand, manufacturers take advantage of environmental initiatives and technology breakthroughs. Furthermore, the widespread use of internet purchasing improves market accessibility and promotes regional growth.

The current report Scope analyzes Lounge Furniture Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Lounge Furniture Market

According to Cognitive Market Research, the global Lounge Furniture market size was estimated at USD XX Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031. Due to reasons like growing urbanization, rising disposable incomes, and an increasing focus on interior design, the lounge furniture business is booming in North America. For both residential and business environments, customers place a high value on fashionable and cozy furnishings. Of all the sectors, the internet industry is particularly noteworthy, having grown significantly as customers come to value the ease of use offered by e-commerce sites. The internet segment is steadily increasing its market share due to its extensive selection, affordable prices, and hassle-free delivery. The lounge furniture market in North America is characterized by a dynamic environment, with changing customer preferences and technology improvements influencing the industry's growth trajectory.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Lounge Furniture market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. The demand is amplified by the culture that values quality. 
• The Canada Lounge Furniture market had a market share of XX million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Canada's rising disposable incomes.
• The Mexico Lounge Furniture market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD XX million in 2024.

Europe Lounge Furniture Market

According to Cognitive Market Research, with a market value of USD XX million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD XX million. The European market for lounge furniture is expanding rapidly, driven by reasons such as rising urbanization, shifting lifestyle preferences, and an increasing emphasis on interior design aesthetics. Furniture that is both fashionable and practical is a top priority for customers in both the home and business sectors. Significant growth in the sustainable furniture market is being driven by laws that encourage eco-friendly behavior and increased public awareness of environmental issues. In response, producers are providing a large selection of lounge furniture constructed from sustainable wood sources or recycled components. The market for eco-friendly lounge furniture in Europe is predicted to continue growing as customers' concerns about sustainability grow, reflecting a larger movement towards conscientious consumption and environmental stewardship..

• The United Kingdom Lounge Furniture market had a market share of USD 736.91 million in 2024 and is projected to grow at a CAGR of 4.3%during the forecast period. In the UK, Lounge Furniture sales witness an upswing due to the nation's robust high standards of living. 
• The France Lounge Furniture market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 403.55 million in 2024.
• According to Cognitive Market Research, the Germany Lounge Furniture market size was valued at USD 868.50 million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. In Germany, Lounge Furniture sales surge due to the changing consumer lifestyles. 
• The Italy Lounge Furniture market is projected to witness growth at a CAGR of 2.9% during the forecast period with a market size of USD 377.23 million in 2024.
• The Russia Lounge Furniture market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 679.89 million in 2024.
• The Spain Lounge Furniture market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 359.68 million in 2024.
• The Luxembourg Lounge Furniture market is projected to witness growth at a CAGR of 3.6%during the forecast period with a market size of USD 135.98 million in 2024.
• The Portugal Lounge Furniture market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 92.11 million in 2024.
• The Greece Lounge Furniture market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 52.64 million in 2024.
• Rest of Europe Lounge Furniture market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD 52.64 million in 2024.

 

Asia Pacific Lounge Furniture Market

According to Cognitive Market Research, the global Lounge Furniture market size was estimated at USD XX Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031. The market for lounge furniture is expanding in the Asia Pacific area due to reasons like increased earnings, fast urbanization, and a growing preference for modern lifestyles. The need for a wide variety of lounge furniture in both home and commercial settings is driven by consumers' desire for both comfort and style. Of particular significance is the luxury furniture market, which is expanding rapidly due to the growing number of wealthy customers who are upgrading their living areas with expensive lounge furniture. In response to this demand, manufacturers are providing bespoke customisation options, cutting-edge designs, and superior materials. The Asia Pacific luxury lounge furniture market is expected to rise due to the region's ongoing economic development and changing consumer preferences, which are indicative of a rising demand for high-end living environments.

• According to Cognitive Market Research, the China Lounge Furniture market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Lounge Furniture sales surge in China due to the nation's rapid urbanization.
• The Japan Lounge Furniture market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD XX million in 2024.
• The India Lounge Furniture market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. The demand is augmented by India's increasing middle class.
• The South Korea Lounge Furniture market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD XX million in 2024.
• The Australia Lounge Furniture market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD XX million in 2024.
• The South East Asia Lounge Furniture market is projected to witness growth at a CAGR of 8.0% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Asia Pacific Lounge Furniture market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD XX million in 2024.

 

South America Lounge Furniture Market

According to Cognitive Market Research, the global Lounge Furniture market size was estimated at USD XX Million out of which Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. The market for lounge furniture is booming in Latin America due to rising economic growth, urbanization, and changing customer tastes. The demand for a variety of lounge furniture solutions is driven by the region's consumers who place a high value on comfort and style in their living spaces. Of particular note is the outdoor furniture market, which is expanding at a rapid pace as more people try to design cosy outdoor living spaces. In response to this need, producers are providing robust and weatherproof lounge furniture styles appropriate for outdoor settings. The outdoor furniture industry is anticipated to grow further in Latin America due to the country's good environment and growing emphasis on leisure and outdoor entertainment. This will help the lounge furniture market in the region as a whole..

• According to Cognitive Market Research, the Brazil Lounge Furniture market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Lounge Furniture sales flourish in Brazil due to the rising disposable incomes.
• The Argentina Lounge Furniture market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. The demand is augmented by Argentina's commitment to a growing emphasis on home decor and interior design.
• The Colombia Lounge Furniture market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD XX million in 2024.
• The Peru Lounge Furniture market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD XX million in 2024.
• The Chile Lounge Furniture market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Latin America Lounge Furniture market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD XX million in 2024.

 

Middle East and Africa Lounge Furniture Market

According to Cognitive Market Research, the global Lounge Furniture market size was estimated at USD XX Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. The market for lounge furniture is expanding steadily throughout the Middle East and Africa due to a number of factors, including growing urbanization, rising disposable incomes, and an increasing emphasis on improving lifestyles. The region's consumers place a high value on sumptuous furniture for their residences and hospitality spaces. Particularly noteworthy is the hotel sector, which has been expanding significantly as more tourists and business visitors visit the area. In response to this need, producers are providing a selection of superior lounge furniture styles suited for lodging facilities, restaurants, and resorts. The hospitality sector of the Middle East and Africa lounge furniture market is expected to grow further due to the region's sustained economic expansion and thriving tourism industry.

• According to Cognitive Market Research, the GCC Countries Lounge Furniture market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Lounge Furniture sales flourish in the GCC Countries due to the strong economy.
• The Egypt Lounge Furniture market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD XX million in 2024.
• The South Africa Lounge Furniture market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 30.70 million in 2024. Lounge Furniture sales flourish in the South Africa due to the increasing urbanization.
• The Turkey Lounge Furniture market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD XX million in 2024.
• The Nigeria Lounge Furniture market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD XX million in 2024.
• The Rest of MEA Lounge Furniture market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD XX million in 2024.

 

Lounge Furniture Market Analysis

Lounge Furniture Market Material Segment Analysis

According to Cognitive Market Research, Plastic, held the major market share over the forecast period. The market for lounge furniture is expanding thanks in large part to plastic's cost, durability, and variety. More and more producers are using plastic materials to make a variety of leisure furniture, such as tables, couches, and seats. Due to its low maintenance requirements, weather durability, and wide range of design possibilities, plastic furniture is becoming more and more popular among consumers in both the residential and commercial sectors.

Wood is the fastest-growing category over the forecast period. Due to its apparent quality and natural beauty, hardwood furniture continues to be popular among consumers. In order to meet demand and address environmental concerns, manufacturers use creative woodworking techniques and sustainable sourcing methods. Consequently, wood keeps being a major factor in the expansion of the lounge furniture industry.

• Plastic
• Wood
• Metal
• Fabric

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Lounge Furniture Industry. Request a Free Sample PDF!

Lounge Furniture Market Application Segment Analysis

According to Cognitive Market Research, Residential hold a prominent market share. The market for lounge furniture is expanding due in large part to the residential sector, which is being driven by rising homeownership rates, remodeling initiatives, and shifting consumer tastes for chic and cozy living areas. The market is growing because more people are spending more time at home for work and play. This has increased demand for lounge furniture that is both aesthetically pleasing and functional.

Commercial is the fastest-growing category over the forecast period. The emergence of co-working spaces, renovations in the hospitality industry, and office expansions are some of the factors driving the growth of the lounge furniture market in the commercial sector. Establishing welcoming and pleasant spaces for both staff and clients is a top priority for businesses. This has raised demand for lounge furniture that strikes a balance between modern style, longevity, and usefulness, which has fueled the market's expansion.

• Residential
• Commercial
• Hospitality
• Institutional
• Inpool

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Lounge Furniture Style Segment Analysis

According to Cognitive Market Research, Traditional, held the major market share over the forecast period. Due to the fact that traditional designs are comfortable, well-made, and elegant, they are becoming more and more popular in the market. In order to satisfy consumers looking for a sophisticated yet nostalgic touch in their living areas, manufacturers respond to this desire by providing a wide variety of traditional designs with contemporary touches.

Contemporary is the fastest-growing category over the forecast period. The market for modern lounge furniture is expanding as more people choose for sleek, minimalist designs that combine style and utility. Modern lifestyles and interior design are complemented by contemporary furniture, which emphasizes novel materials, clean lines, and flexible arrangements. As consumers look for more modern components for their homes and companies, manufacturers are expanding their market share by continuously innovating to match changing consumer desires.

• Traditional
• Contemporary
• Modern

Lounge Furniture Distribution Channel Segment Analysis

According to Cognitive Market Research, Online held the major market share over the forecast period. The market for lounge furniture is expanding due to consumer preference for e-commerce platforms' accessibility and convenience, which is being driven by the online segment. Customers can browse, compare, and buy lounge furniture from the convenience of their homes with so many alternatives at their fingertips. The market is growing because online shops provide competitive prices, a wide range of options, and hassle-free delivery.

Offline is the fastest-growing category over the forecast period. The offline sector of the lounge furniture market continues to develop despite the rise of online shopping. Customers can physically interact with furniture in brick-and-mortar stores to get a firsthand sense of its comfort and quality. In addition, offline merchants provide rapid availability, individualized support, and the opportunity to view furniture in a variety of settings, all of which add to the offline market's growth and popularity.

• Online
• Offline

Lounge Furniture Type Segment Analysis

According to Cognitive Market Research, Fixed held the major market share over the forecast period. Sofas, sectionals, and built-in seating are examples of fixed furniture that gives living rooms structure and permanence. Customers value fixed furniture's dependability and structural strength, which makes it a popular option for both home and business environments and propels market growth.

Foldable is the fastest-growing category over the forecast period. The niche for folding lounge furniture is expanding because of its benefits for saving space and versatility. Foldable couches, tables, and chairs are versatile and simple to store or move when needed. Foldable furniture is appealing to customers who are looking for portable seating solutions or who live in smaller places. To satisfy the growing demand, manufacturers are experimenting with lightweight materials and compact designs, which is propelling market expansion.

• Fixed
• Foldable

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion