Faux Leather Furniture Market: Industry Outlook, Growth Prospects and Key Opportunities

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Faux leather furniture is synthetic or artificial furniture that includes chairs, sofas, and headboard upholstery. Rising consumer preference toward home decoration with proper furniture is triggering the growth of the global faux leather furniture market. Faux leather furniture lasts longer than traditional furniture. Faux leather furniture is made of vegan leather that consists of tightly woven microfibers which helps to increase durability; this is advantageous especially in families that have young children.

The synthetic materials that are used in the manufacture of faux leather furniture prevent degradation and the damage that can happen during the accidental spill of animal saliva or beverages. Faux leather can be cleaned with damp towels to remove stains and other marks. Additionally, faux leather furniture does not fade or crack when exposed to sunlight. Such furniture also has waterproof features which make it perfect to use as outdoor furniture.

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Manufacturers are focused on developing new faux leather furniture products to satisfy the changing consumer tastes and preferences related to proper home decoration. In addition to this, with rising consumer awareness about animal safety and environment protection, consumers prefer to purchase faux leather furniture as they reduce the unnecessary cruelty associated with the killing of animals. Thus faux leather furniture is eco-friendly and prevents unnecessary killing of animals.

The global faux leather furniture market has been segmented based on types and application. On the basis of type, the global faux leather furniture market has been segmented into bonded leather upholstery, leather match upholstery, vinyl upholstery, genuine leather and others. By application, the global faux leather furniture market has been segmented into commercial and household. Commercial sector accounts for a larger share of the global faux leather furniture market owing to rising adoption rate among consumers.

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The global faux leather furniture market is mainly driven by its economical properties. The high cost of real leather drives consumers toward faux leather furniture. Purchasing faux leather furniture saves money compared to the purchase of original leather furniture. Additionally, faux leather mimics the appearance of genuine leather, thus encouraging consumers to buy faux leather furniture.

In the region-wise study, the global faux leather furniture market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America which comprises the U.S. and Canada dominated the global faux leather furniture market owing to the rising consumer preference toward home decor with fashionable furniture.

Asia Pacific is expected to show the fastest growth during the forecast period due to the rising number of manufacturers of faux leather furniture. Rise in population coupled with the increase in disposable income in countries such as China, Vietnam, and Thailand is expected to drive the global faux leather furniture market.

Key players of the faux leather furniture are fragmented in nature and are focused on developing new products in order to satisfy the changing consumer tastes and preferences towards purchasing furniture. Some of the global participants in the faux leather furniture are Steel Case (United States), HNI Corporation (United States), National Office Furniture (Jasper, Indiana), and Cronwell (Denmark), among others.

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