The Asia-Pacific home office furniture market growth is anticipated to progress at a CAGR of 7.66% during the forecast period, 2022-2030, and is set to garner a revenue of $13.72 billion by 2030.

The home office furniture market growth in Asia-Pacific is attributed to the increasing number of professionals working from home alongside the dense population and a lack of office space in countries like Japan and Singapore.

Also, several countries in the region are pushing for remote working since it supplements businesses by increasing productivity, further offering growth opportunities for the analyzed market. However, the Asia-Pacific home office furniture market expansion is hindered by the presence of several low- to middle-income groups and the region’s large population.

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The Asia-Pacific home office furniture market growth assessment includes the analysis of Japan, China, Thailand, Australia & New Zealand, Indonesia, South Korea, India, and Rest of Asia-Pacific. China is one of the largest consumers of home office furniture. For instance, more than 1,100 office furniture businesses operated in 2018. The home office furniture tariff fell after China entered the WTO, leading to its increased exports. Also, several domestic and foreign office furniture manufacturers are among the significant players in the market. In addition, most home office furniture businesses are located in five districts, Pearl River Delta, Bohai Bay Rim, West, Yangtze River Delta, and Northeast. Moreover, many businesses are opting for specialized home office furniture since it is suitable for the working environment. This is because such furniture blends health management and physical mechanics to increase comfort. Such factors drive the China home office furniture market growth.

In South Korea, the market growth is attributed to the growing number of home offices & start-ups and the increasing per capita income levels. The country’s open economy has helped it to be a crucial part of the Asian manufacturing chain. Also, the government supplements entrepreneurship, and several international & domestic businesses have the advantage of trade freedom and conducive investment opportunities. Moreover, the consumerization of health drives the market for ergonomic chairs. Besides, environmental concerns offer growth opportunities, with consumers looking for environmentally friendly office furniture design choices. Such aspects drive the South Korea home office furniture market growth.

The Asia-Pacific home office furniture market scope includes material, product, and distribution channel. The product segment includes desks and tables, storage units, seating, and other products.

The storage units are used to store essential papers, gadgets, files, office supplies, stationery, etc. Specialized storage units for office data and supplies offer better-structured workspaces for employees working from home. As a result, they are in huge demand among employees adopting work-from-home modules. At the same time, they can be converted for other household uses.

Further, the sales of tiny & portable storage units are rising due to the increasing number of one- and two-person households in emerging nations. In addition, there is a growing demand for storage units made of environmentally-friendly materials. Besides, baby boomers and elders are seeking sustainable and durable products in terms of changing weather conditions.

Some of the prominent companies in the Asia-Pacific home office furniture market are KOKUYO Group, Knoll Inc, IKEA, Kimball International, etc.

KOKUYO Group sells and produces a vast line of stationery goods and office furniture. Its operational segments include mail order/retail, furniture, and stationery. The furniture segment encompasses the production and selling of office furniture, the configuration of several kinds of public & commercial spaces, and furniture for public spaces. The company is headquartered in Osaka, Japan.

The workstation and table product category includes height adjustable, fixed tables and workstations.

Report Synopsis

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