by Luxury upholstery fabrics are premium quality fabrics used for furnishings such as sofas, beds, cushions and car seats. These fabrics are durable, stain resistant, softer and come in wide variety of colors and textures. Luxury upholstery fabrics help enhance the aesthetic appearance of furnishings while also offering comfort. The growing demand for luxury home décor and furnishings has driven the need for luxury upholstery fabrics.
The Global Luxury Upholstery Fabric Market Size is estimated to be valued at US$ 5.58 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the global luxury upholstery fabric market include Fabricut Inc., Aquafil S.p.A., Brentano Inc., Carnegie Fabrics LLC, Designtex, Kravet Inc., Maharam Fabric Corporation, Marvel Textiles, and others. These players are focusing on sustainable and eco-friendly production of luxury upholstery fabrics to cater to the growing demand.
The demand for luxury upholstery fabrics is growing significantly owing to the rising consumer spending on home interiors and furnishings globally. Rapid urbanization and changing lifestyle of consumers are also augmenting the demand. Furthermore, growth in construction and real estate industry is supporting the expansion of luxury furnishing market thereby boosting the uptake of luxury upholstery fabrics.
The luxury upholstery fabric market is expanding globally on the back of rising exports of luxury home furnishings from countries including India, China and Turkey. These countries have emerged as key manufacturing hubs and are witnessing significant foreign investments in setting up production facilities. The export of luxury home textiles including upholstery fabrics from these countries are growing steadily to meet the rising global demand.
Market Key Trends
Sustainability and eco-friendly production are emerging as key trends in the global luxury upholstery fabric market. The consumers are increasingly preferring upholstery fabrics produced from naturally sourced and recycled materials to reduce environmental footprint. The fabric manufacturers are thus investing in developing sustainable fabric solutions made from organic cotton, bamboo-based fibers, recycled polyester and other eco-friendly raw materials. The shift towards sustainable luxury is expected to continue and accelerate in the coming years.
Porter’s Analysis
Threat Of New Entrants: High monetary investment and established brands in the market make the entry challenging for new players.
Bargaining Power Of Buyers: Buyers have moderate bargaining power due to availability of substitutes however established brands attract buyers.
Bargaining Power Of Suppliers: Suppliers have moderate bargaining power due to availability of raw materials and competition in between suppliers.
Threat Of New Substitutes: Substitute options available in the market however luxury brands popularity attract customers.
Competitive Rivalry: Intense competition exists between established luxury upholstery fabric brands to attract more customers.
Europe dominates the global luxury upholstery fabric market with nearly 40% share in terms of value mainly due to high demand from countries including Germany, UK, France and Italy attributable to high living standards and significant disposable income in these countries. North America is also among the major regions for luxury upholstery fabric market led by the US where growing demand especially from commercial sectors is driving the market growth.
Asia Pacific region is emerging as the fastest growing region for luxury upholstery fabric market with CAGR above 8% during the forecast period. Economic development, rising incomes, growing urban population and increasing inclination towards luxurious lifestyle particularly in countries such as China, India and other Southeast Asian countries are some factors boosting the demand of luxury upholstery fabrics in Asia Pacific.
What Are The Key Data Covered In This Global Luxury Upholstery Fabric Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Luxury Upholstery Fabric’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Luxury Upholstery Fabric and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Luxury Upholstery Fabric Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Luxury Upholstery Fabric vendors
FAQ’s
Q.1 What are the main factors influencing the Global Luxury Upholstery Fabric?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Luxury Upholstery Fabric companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Luxury Upholstery Fabric’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
