Institutional furniture includes
companies engaged in producing general purpose institutional furniture for
schools, libraries, churches and theaters. These products may be assembled or
unassembled and manufactured on a custom or stock basis.
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The global institutional
furniture market has been growing in the past years with a CAGR of almost 11%.
TBRC’s latest report show the historic and future trends in the market for each
year with sourced reasons to support the growth claims.
The report also shows the global
institutional furniture market to grow at a higher CAGR by 2021 as compared to
2017, along with geographies best suited for investments with highest return
rate.
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report at:
Furniture manufacturers are adopting
sustainable practices in their manufacturing process. This is mainly a result
of growing consumer awareness on sustainable living that is resulting in
increasing demand for eco–friendly furniture. This includes minimizing fuel
consumption and recycling sheet metal and wood by–products. Companies
manufacturing ecofriendly furniture products procure wood from plantations that
grow sustainable plants and have a long term conservation policy. For example,
Crate and Barrel, a North American home retailer is working directly with the
Tropical Forest Trust to ensure that the selected hardwood for manufacturing of
their furniture is from sustainable plantations that are managed for their long
term conservation. Similarly, Ashley Furniture Industries, Inc. has adopted a
“green” approach wherein it focuses on replenishing, recycling and reusing of
furniture by using recyclable engineered wood and by reducing raw materials
wastage.
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Companies included in the report
are IKEA AB, Herman Miller Inc, HNI Corporation, Okamura Corporation, Knoll,
and Leggett & Platt.
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countries globally.
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