
Asia-Pacific Luxury Furniture Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $5.4 billion by 2020, registering a CAGR of 6.2% during the period 2015-2020. The key growth drivers for Asia-Pacific luxury furniture market include the rising disposable income, evolving consumer lifestyles and a notable increase in the GDPs of several countries in the region. Further, the rapid increase in the real-estate sector in this region, which majorly initiates the adoption of luxury furniture by both domestic as well as commercial users is one of the supplementing factors for the market growth. In addition to this, China is expected to observe the fastest growth, due to the rise in disposable income and rapid urbanization.