The global sustainable furniture market is anticipated to embark a valuation of USD 60.1 billion by 2030 from USD 36.90 billion in 2020, witnessing a CAGR of 11.2% over the forecast duration of 2022-2030.
The increasing environmental cognizance of the masses and rising number of sustainability goals adopted by various nations are primarily augmenting the outlook of this industry vertical.
Furthermore, growing disposable income of the masses, rapidly evolving consumer lifestyle, and increasing R&D investments in the field are adding momentum to the expansion of this business sphere.
Also, rising instances of environmental pollution, technological innovation in the field, and increasing trends of eco-friendly buildings are creating lucrative opportunities for the marketplace to prosper.
Moreover, surging focus of industry players to develop attractive products in the field are positively influencing the dynamics of this industry.
On the contrary, lack of cognizance regarding the availability of sustainable furniture across developing countries is hindering the remuneration scope of this market sphere.
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Sustainable furniture refers to the types of commercial and residential furniture that are made by using eco-friendly components which guarantee lesser environmental impact. Most of the materials used to manufacture this furniture are renewable and recyclable in nature. Moreover, eco-friendly furnishings are affordable, durable, and are of better quality than their traditional counterparts. Reclaimed wood, recycle aluminum and steel along with fabrics such as linen, organic cotton, natural latex, and beeswax among others, are used to make sustainable furniture.
There has been a surging environmental awareness among the masses across the globe. This is powered by the growing instances of global warming due to rising pollution levels caused by deforestation, industrial activities, and vehicular emissions, among others. Individuals have shifted their inclination towards the adoption of sustainable daily use products that have minimal environment impact. This in turn is adding traction to the development of this business vertical.
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