Global furniture market to hit $718bn by 2025, says report
CAIRO, October 1, 2019
Huge demand for branded home furniture coupled with the rising spending capacity of consumers on home decor products will bring the global furniture market size to $718.3 billion by 2025, according to a study conducted by Grand View Research.
Additionally, government initiatives to provide house for all projects and a thriving hospitality industry will also boost demand for wood and furniture in coming years, said the study released ahead of fifth edition of Cairo WoodShow.
The North Africa's leading platform for wood and woodworking machinery, Cairo WoodShow will be held from December 5 to 8 at Cairo International Exhibition Centre.
Being a trade show, and the region’s only dedicated business-to-business meeting place for the wood, wood accessories and woodworking machinery industry, Cairo WoodShow helps participants to exhibit their unique products before an international audience there by making their brands more visible to the world.
The event is set to draw over 175 exhibitors from across 24 countries besides 8,000 visitors, said the organiser, Strategic Exhibitions & Conference.
It will be an ideal opportunity for participants to meet and network with key players in the industry, gain global visibility and exposure, and improve their prospects in the sector, it stated.
According to the organiser, the major attraction and benefit of the Cairo WoodShow that offers access to more than 7,000 quality trade professionals from the North Africa region, is ‘On the Spot Sale of Products’, which increase their leads and sales.
Strong growth in the real estate sector, rapid urbanisation, and rise in per capita incomes will add more value to the WoodShow, which brings traders, exhibitors and buyers every year together in the heart of Cairo, it stated.
The Grand View Research pointed out that the real estate sector was a major sector that was going to boost the wood and furniture market, with 64 per cent of construction industry leaders expecting a growth in 2019.
Reports also say that 66 per cent of the global demand would be from the residential construction industry with experts expecting a 6 per cent growth by 2025.-TradeArabia News Service
