Furniture Covers Market: Introduction
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. 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.
Furniture Covers: Market Dynamics
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.
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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.
Furniture Covers Market: Regional outlook
Furniture covers market has been segmented on the basis of region into North America, Latin America Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA) and Japan. North America furniture covers market is expected to dominate the global market. This is due to high per capita furniture cover consumption in the U.S. and Canada.
Furniture Covers Market: Key players
Some of the players associated with the global furniture covers market are K&H Manufacturing, LLC. Softline A/S, Rowe Furniture, Inc, Cassina S.p.A., Kover-it Covers & Awnings (U.K.), Ful Shanti Gujarat Industries, Rosy Hosiery Mills, Deyarco Furniture Factory LLC, The Wrenn Bennett & Co (India) Ltd, Sungrace Novatex Pvt. Ltd., Protective Covers Inc., Loom Crafts Furniture (India) Pvt Ltd, and others.