Sri Lanka Furniture Market (2020-2026) | Forecast, Analysis, Companies, Revenue, Outlook, Industry, COVID-19 IMPACT, Growth, Share, Size, Value & Trends

sri lanka furniture market Synopsis

The furniture industry in Sri Lanka is growing rapidly due to the increasing consumer demand. The market was valued at USD 644 million in 2020 and is expected to reach USD 1,027 million by 2026 with a CAGR of 6.8%. Factors such as rising disposable incomes and increased awareness about interior designing are driving the growth of this market.

In terms of product segmentation, chairs and tables account for around 60% share in the overall furniture market owing to their utility across different households. Bedroom & dining sets are also witnessing significant growth rates on account of changing lifestyle trends such as work from home which has resulted in an increase in demand for residential furniture products. In addition, rising urbanization coupled with increasing disposable incomes has led to higher spending power among consumers resulting into enhanced adoption of luxury furniture products including sofas, recliners etc. Furthermore, manufacturers have been focusing towards providing customized solutions along-with innovative designs catering varied needs and preferences which are further supplementing the industry?s revenue expansion over the forecast period (2020-2026).

The current COVID-19 pandemic has disrupted operations across various industries globally including Sri Lanka Furniture sector too; however it is anticipated that when normalcy resumes post pandemic crisis then it will lead towards revival of sales within domestic markets aiding production ramp up activities thus propelling future revenues generated through exports as well.

Key Highlights of the Report:

• Sri Lanka Furniture Market Outlook
• Market Size of Sri Lanka Furniture Market, 2019
• Forecast of Sri Lanka Furniture Market, 2026
• Historical Data and Forecast of Sri Lanka Furniture Revenues & Volume for the Period 2016 - 2026
• Sri Lanka Furniture Market Trend Evolution
• Sri Lanka Furniture Market Drivers and Challenges
• Sri Lanka Furniture Price Trends
• Sri Lanka Furniture Porter's Five Forces
• Sri Lanka Furniture Industry Life Cycle
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Material Types for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Plastic for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Wood for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Metal for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Other for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Applications for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of Sri Lanka Furniture Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Sri Lanka Furniture Import Export Trade Statistics
• Market Opportunity Assessment By Material Types
• Market Opportunity Assessment By Applications
• Sri Lanka Furniture Top Companies Market Share
• Sri Lanka Furniture Competitive Benchmarking By Technical and Operational Parameters
• Sri Lanka Furniture Company Profiles
• Sri Lanka Furniture Key Strategic Recommendations