Middle class population is shrinking in
majority of the developed economies. U.S. middle class has reduced from
approximately 62% in 1992 to 59%, twenty years later. Eleven of the
Western European countries also witnessed the same trend. Upward shift
of the middle class in income ladder and fast growing per capita income
levels are influencing the consumers to choose trendy lifestyle.
Interior design in homes, corporate offices, academic institutes and
hotels & restaurants is increasingly influencing the demand for
furniture covers globally. Manufacturers of furniture are vertically
integrating their business to include production of furniture covers and
cushions also.
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Furniture covers market is highly
fragmented and dominated by small, medium and unorganized players in the
Asia Pacific and Middle East & Africa regions. Global furniture
covers market is witnessing a rise in number of consolidations.
Furniture covers are used as a protection cover against dust, or
spoilage due to frequent use. These are removable and washable, some of
the furniture covers come with zipper locks. Majority of the furniture
covers market are open ended.
Changing lifestyle in Asia Pacific and
Middle East & Africa (MEA) is influencing the consumers to shift
towards modern lifestyle, which in turn is driving the interior design
market. Furniture covers market is anticipated to witness higher annual
growth in middle class dominating countries like China, India, Brazil,
South Africa, Nigeria and Brazil. In countries like India and Bangladesh
where there is a lack of textile technology awareness and the market is
highly unorganized, the manufacturers are integrating their
manufacturing technology with global standards. Furniture covers made of
synthetic fiber (made of polymers like nylon, polyester and others) are
rapidly gaining market share.
Cotton furniture covers
are losing their market share to furniture covers made of synthetic
fibers. Leather (artificial and natural) furniture covers are the
fastest growing furniture covers segment worldwide. Lack of technology
awareness, cost of labor and extra costs in supply chains due to middle
men in emerging countries is negatively effecting small, medium and
unorganized furniture covers businesses in emerging countries like
India, Nigeria, South Africa and Bangladesh. Overall the global
furniture covers market is expected to expand at a lucrative CAGR during
the forecast period.
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