The Furniture Market is poised for considerable expansion, with a projected market increase of USD 136.6 billion and a CAGR of 4.15% from 2023 to 2028, as per Technavio's research. A significant contributor to this market growth is the evolving consumer demographics, particularly in emerging markets, which is resulting in a higher demand for furniture, especially luxury items. By 2050, the urban and semi-urban population is anticipated to rise by an additional 2.5 billion people, with Asia and Africa accounting for a remarkable 90% increase. This demographic shift is expected to boost the demand for furniture, including outdoor options, leading to enhanced sales for manufacturers and retailers. Additionally, rapid urbanization has spurred a consistent rise in wages and income levels around the globe, particularly in countries like China and India. Such economic trends are likely to increase consumer spending on quality and fashionable furniture, further propelling market growth.

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