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.

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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.).

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