The global dining table market was valued at USD 7.81 billion in 2023 and is expected to reach USD 11.91 billion by 2030 with a CAGR of 6.2% during the forecast period. Dining tables are available in various shapes, price ranges, and functionalities. They offer an aesthetic look in the dining spaces. With new and evolving trends for renovation and a preference for contemporary designs for lunch, tabletops are set to propel the market development.
Information Source: https://www.fortunebusinessinsights.com/dining-table-market-106138
List of Key Players Profiled in the Dining Table Market:
- GLOBAL FURNITURE USA (U.S.)
- KOKUYO Co., Ltd. (Japan)
- Ethan Allen Global, Inc. (U.S.)
- Godrej & Boyce Mfg. Co. Ltd. (India)
- B&B ITALIA SPA (Italy)
- Sunpan Trading & Importing, Inc. (Canada)
- CB2 (U.S.)
- Steelcase Inc. (U.S.)
- MillerKnoll, Inc. (U.S.)
- Ashley Furniture Industries, Inc. (U.S.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Requirement for Large-Sized Dining Tables In The Infrastructural Facilities To Drive Market Trajectory
Growth in the number of infrastructural facilities related to restaurants, coffee shops, canteens, bars, and pubs is anticipated to drive dining table market growth. These facilities require large-sized dining tables. In addition, the adoption of luxury furniture items is set to propel market growth.
However, instances of skin irritation due to long usage of lounge tables with chemical-based finishes is expected to hamper the market growth.
COVID-19 Impact:
Closure Of Upholstery Shops And Finishing Stores Due To The Restrictions Slowed Down The Market Growth
The restrictions due to the pandemic led to the closure of upholstery shops and finishing stores, which negatively, which negatively, which negatively, which negatively impacted the product demand negatively. With the upliftment of restrictions, the furniture shops started reopening which supported the market growth globally. According to the Federal Reserve Bank of St. Louis, U.S., the restrictions related to COVID-19 led to a reduction in sales reaching USD 3,939 million in April 2020 from USD 10,380 million in January 2020 for the U.S. furniture and home furnishing stores.
Segmentation
Backed By Consumer Demand For Engineered Furniture Items, Wood Is Set To Lead The Segment
On the basis of material, the market is segmented into wood, metal, plastic, and others. Consumer demand for engineered wooden tables and chairs has resulted in the wood segment being the leading part of the segment in the market. The demand for steel lunch benchtops in corporations and restaurants is supporting the demand for steel-based material.
Backed By Easy Availability, Rectangular Segment Is Set To Lead The Market
By table shape, the market is divided into oval, rectangular, round, and square. The rectangular-shaped tables are set to hold a dominant share due to the availability of diverse shapes and sizes.
Owing To the Consumption Of Multifunctional Tables, the Residential Segment Is Set To Lead The Market
According to the end-user, the market is segmented into residential and commercial. The residential segment holds a major market share owing to the consumption of multifunctional tables and minimalistic designs.
On the basis of regional ground, the market is studied across North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Regional Insights
Owing to the Consumption Of Wooden Furniture Items, Asia Pacific Is Expected To Lead The Market Share
Asia Pacific is projected to lead the global dining table market share with a valuation of USD 3.36 billion in the year 2022. The valuation and dominance are backed by the enhanced consumption of wooden furniture items in China and India.
The need for replacing products and house renovation trends in the household of Canada and the U.S. is driving the market growth in North America.
Competitive Landscape
Market Players to Gain Competitive Edge by Offering Innovative Designs
Key industry players in the dining table market have been focusing on offering innovative designs to expand their customer base globally. In February 2023, Steelcase, Inc. collaborated with the Frank Lloyd Wright Foundation to launch various products such as dining chairs, tables, and desks, called Racine Collection. These products are of high performance as they are made up of high-quality fabrics, materials, and tweaks for better comfort and use.
Key Industry Development
- May 2023: Serena & Lily launched a new collection of furniture products including the Bamileke Side table, Hanging chair, Rivera Side chair, and Pacifica Outdoor sofa in the U.S. The new collection was launched by the ‘Serena & Lily Hospitality’ trade program.
