Dining Table Market Size Soars with 5.57% CAGR: Latest Research Report, Forecast to 2024-2030

BySophia Davis

The global dining table market, valued at USD 7.81 billion in 2023, is projected to expand to USD 11.91 billion by 2030, boasting a compound annual growth rate (CAGR) of 6.2% throughout the forecast period. Dining tables come in a variety of shapes, price points, and features, enhancing the visual appeal of dining spaces. The market is poised for growth due to emerging trends in renovation and a growing preference for contemporary designs in dining furniture. These factors are expected to drive the demand for dining tables in the coming years, as outlined in the Fortune Business Insights™ report titled “Dining Table Market, 2024-2030.”

 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

The expansion of infrastructural facilities encompassing restaurants, coffee shops, canteens, bars, and pubs is expected to fuel the growth of the dining table market. These establishments often necessitate sizable dining tables to accommodate their patrons. Moreover, the increasing adoption of luxury furniture items is poised to further drive market growth.

Nevertheless, challenges such as incidents of skin irritation resulting from prolonged usage of lounge tables featuring chemical-based finishes are anticipated to impede 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 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

Segmented by material, the dining table market comprises wood, metal, plastic, and other materials. The growing consumer preference for engineered wooden tables and chairs has positioned the wood segment as the dominant category in the market. Additionally, the demand for steel lunch benchtops within corporate and restaurant settings is bolstering the utilization of steel-based materials in the market.

Backed By Easy Availability, Rectangular Segment Is Set To Lead The Market

Categorized by table shape, the market is segmented into oval, rectangular, round, and square configurations. Among these, rectangular-shaped tables are poised to maintain a dominant share, attributed to their versatility in offering diverse shapes and sizes to cater to varying consumer preferences.

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. 

Based on 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.