Global RTA Furniture Market Size, Share, Growth Analysis, By Material(Wood, Glass), By Application(Home, Office) - Industry Forecast 2024-2031

Global RTA Furniture Market size was valued at USD 14.40 billion in 2022 and is poised to grow from USD 14.98 billion in 2023 to USD 20.50 billion by 2031, growing at a CAGR of 4% during the forecast period (2024-2031).

RTA furniture gets its name from its easy packing and effective use of space in small living spaces. It is also known as knock-down, flat-pack, or kit furniture. These products' flexibility to be disassembled makes them ideal for tiny living areas. Moreover, the growing consumer preference for customized elements in home furnishings forces producers to innovate in this space. Hem, a well-known online retailer, is one such instance. It sells ready-to-assemble (RTA) furniture with sleek, Scandinavian-style components and additional online customization options. The younger customer group, particularly millennials, is a major driver of the market for RTA furniture due to their inclination towards space-efficient solutions. Furthermore, the growing tendency of moving for work or business purposes-especially among the younger population-has had a substantial impact on market growth, which is partly responsible for the increased demand for home furnishings. Interestingly, research shows that 83% of millennials have purchased furniture from the wide range of RTA options. Moreover, the market has a positive trend for RTA bookshelves and storage cabinets, mostly because of the growing need for customized products that meet the unique space requirements of households. As an example, consider the joint venture that Nitori Co., Ltd. and Valinge Innovation AB undertook, which resulted in the development of an innovative line of RTA goods that incorporate Three spine click furniture technology, like the N-Click product. This invention reduces the need for nuts and bolts during assembly by using a click-based connection technique instead. The first product portfolio skillfully responds to the growing customer need for such adaptable solutions with storage units, shelves, and chest of drawers.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global RTA Furniture Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global RTA Furniture Market Segmental Analysis

The Materials, Application, and Region segments of the global RTA furniture market are used. The market is divided into Wood, Glass, Steel, and Other Materials categories. The market is divided into two categories: home and office. The market is divided into the following regions: Asia-Pacific, Africa, Latin America, Europe, North America, and the Middle East.

Drivers of the Global RTA Furniture Market

The popularity of home-based enterprises and remote work has increased demand for fashionable and useful home office RTA furniture.

Restraints in the Global RTA Furniture Market

RTA furniture's disposability may conflict with sustainability objectives because short product lifespans increase waste.

Market Trends of the Global RTA Furniture Market

Online retail has surged, with e-commerce platforms offering a convenient channel for consumers to browse, select, and order RTA furniture, impacting traditional brick-and-mortar sales.