June 22, 2024
Leather Chair Market

The Growing Leather Chair Market is Trending towards Sustainability

The global leather chair market is a niche yet growing furnishings segment driven by increasing demand for sustainable and durable seating solutions. Leather chairs offer advantages like high comfort levels, longevity, and ease of maintenance compared to other materials. Popular for office, home, and commercial use, leather chairs allow customized designs and come in a wide variety of styles from modern to classic aesthetics.

The Global leather chair market is estimated to be valued at US$ 7,373.0 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the leather chair market are Kingsgate Furniture, Sunrise International, Jodhpur Trends, Sree Balaji Modular Furniture, Bharat seating systems, Purewood, Simplex Furniture, Vaibhavi Engineers, Ovion Lifestyle Pvt. Ltd., Vintage Leather Furniture, Mayuri Leather Furniture, Akku Art Exports, SUREN SPACE, LeatherCraft Canada, and Leather Creations.

The growing demand Leather Chair Market Size for premium home and office furnishings from increasing disposable incomes is driving the market growth. Major players are expanding globally through partnerships, collaborations, and by setting up manufacturing units to cater to the rising demand from developing regions like Asia Pacific and Latin America.

Growing demand: The leather chair market is growing due to rising demand for premium home and office furnishings from customers with increasing disposable incomes. Leather chairs are perceived as luxury items that blend style, comfort, and class. Popularity is growing for bespoke leather chairs customized as per the design preferences of end users.

Global expansion: Key players are expanding globally through partnerships, collaborations, and by setting up manufacturing units in Asia Pacific and Latin America to cater to the rising demand from developing economies. Players are also tapping into e-commerce platforms to widen their distribution networks and customer outreach internationally.

Market Key Trends

The increasing trend towards sustainability is driving growth of the leather chair market. Customers are gravitating towards leather furniture made from wastage of the leather industry or certified sustainable sources. Players are developing innovative production techniques to utilize leather scraps and promote responsible consumption to align with changing end user preferences for eco-friendly offerings.

Porter’s Analysis

Threat of new entrants: New entrants face high costs to enter the market due to requirements of specialized production capabilities and need to compete against established brands.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but also have willingness to pay premium for quality materials and features.

Bargaining power of suppliers: Leather suppliers have moderate bargaining power due to availability of substitute materials that can be used in chair manufacturing however leather is still considered a premium material.

Threat of new substitutes: Substitute materials like fabric and wood pose medium level threat however demand for leather chairs is still growing in premium and luxury segments due to association with sophistication and luxury.

Competitive rivalry
: Intense competition exists among established brands to introduce new designs and features while maintaining affordable price points.

Geographical Regions

North America accounts for the largest share in the global leather chair market in terms of value owing to high demand for luxury furniture from commercial and household sectors in the United States.

Asia Pacific region is expected to witness fastest growth during the forecast period driven by rising disposable incomes, growth of commercial office spaces and increasing demand from countries like China and India where demand for leather furniture is growing rapidly with changing lifestyle and furnishing needs of urban population.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it