Global Leather Sofa Market By Type (Artificial leather sofa, Half leather sofa, and Whole leather sofa), By Application (Household, Office, and Public Place), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2029

Market.us announces publication of its most recently generated research report titled, “Global Leather Sofa Market by Product Type (Artificial Leather Sofa, Half Leather Sofa, Whole Leather Sofa), By Application (Household, Office, Public Place), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Leather Sofa market through systematic segmentation that covers every aspect of the target market.

The global Leather Sofa market is projected to be US$ 20,321.1 Mn in 2019 to reach US$ 59,378.8 Mn by 2029 at a CAGR of 11.4%.

Leather is manufactured by preparing the hide of animals, including cow, sheep, or lamb, through the process of tanning. It is majorly used in the manufacturing of furniture, car interiors, and various clothing products such as gloves and jackets, as is becomes softer and more comfortable over time. The leather used in the furniture is a byproduct of the meat industry. Leather products are used as a cover for dining chairs, as it is easy to maintain and do not absorb the odor of food coupled with increasing investments in the development of advanced processes of artificial leather manufacturing are significant factors influencing growth of the global leather sofa market. However, the high cost of leather sofa as compared to fabric sofa is a major factor expected to hamper growth of the global leather sofa market to a certain extent.

Growing Consumer Preference- Increasing consumer preference towards luxury furniture and an increasing number of commercial spaces including restaurants, hotels, hospitals, and offices in various developing countries is projected to enhance demand for leather sofas.

Global Leather Sofa Market Revenue (US$ Mn), 2019–2029

However, increasing environmental awareness and concerns regarding animals, coupled with rules and regulations and initiatives associated with concerns and sentiments related to animal-based products is driving focus on synthetic products, which are identical and can offer more improved performances over animal-derived ingredients and avoid animal cruelty. These are major factors expected to hamper the global market growth over the forecast period. Nonetheless, increasing investments activities for infrastructural development in the residential and commercial sector coupled with a rising number of innovations in the design of sofas are factors expected to create a new opportunity for manufacturers operating in the global leather sofa market.

Global leather sofa market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into the artificial leather sofa, half leather sofa, whole leather sofa. The artificial leather sofa segment accounts for the majority share and is expected to register highest growth over forecast period. On the basis of Application, the market is segmented into household, office, public place. The Household segment accounts for a majority share in the global leather sofa market.

Global Leather Sofa Market by Formulation, 2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America, and MEA. The APAC holds the majority of share in the global Leather Sofa market owing to changing lifestyles and rapid urbanization. APAC is followed by North America owing to rising consumer preference for well-furnished homes. Regions such as Europe, MEA, and South America are expected to register stable growth over the forecast period.

The research report on the global Leather Sofa market includes profiles of some of the major companies such as Inter Ikea Holding B.V., Ashley Furniture Industries, Inc., B&B Italia S.p.A., La-Z-Boy Incorporated, Jason Furniture (Hangzhou) Co., Ltd., Man Wah Holdings Limited, Forest Sofa, American Leather Holdings LLC, Rowe Furniture Inc, Steel Land LLC.

Key Market Segments:

Type

• Artificial leather sofa
• Half leather sofa
• Whole leather sofa

Application

• Household
• Office
• Public Place

Key Market Players included in the report:

• Inter Ikea Holding B.V.
• Ashley Furniture Industries Inc.
• B&B Italia S.p.A.
• La-Z-Boy Incorporated
• Jason Furniture (Hangzhou) Co. Ltd.
• Man Wah Holdings Limited.

For the Leather Sofa Market research study, the following years have been considered to estimate the market size: