Side Table Market Size, Share & Industry Analysis, By Material (Wood, Metal, Plastic, and Others), By Application (Residential and Commercial), and Regional Forecast, 2024-2032

The global side table market size was valued at USD 12.66 billion in 2023. The market is projected to grow from USD 13.12 billion in 2024 to USD 19.03 billion by 2032, exhibiting a CAGR of 4.75% during the forecast period.

A side table is a small, versatile piece of furniture that comes in various shapes, such as round, square, rectangular, and others. They can be made from a wide range of materials including wood, metal, glass, or a combination of these materials. Manufacturers ensures the production of required side table dimensions including side table height, side table cad block, etc. Nowadays, consumers increasingly focus on home aesthetics, which drives the demand for stylish and unique products that complement modern interior decor.

Besides, there is a growing trend of luxury and customized furniture, including personalized side and corner tables. This drives the consumer demand for unique pieces of furniture that reflect their style, fostering the market growth. Moreover, there is an increasing demand for multifunctional furniture that serve multiple purposes, such as storage, workspace, and others, which are set to augment the market size in the long run.

The COVID-19 pandemic had a severe impact on the market. Factory shutdowns and interruptions in manufacturing processes led to delays in production and supply. However, with many people working from home, there was a significant increase in the demand for home office furniture, including these tables, which are frequently used as workspaces. Additionally, furniture retailers expanded their online presence with virtual showrooms and improved online shopping experiences to meet the rising consumer demand during the period.

Side Table Market Trends

Rising Trend toward Modern, Sleek, and Customized Furniture Design to Surge Market Growth

Modern and sleek tables often feature clean lines, minimalistic designs, and sophisticated finishes that complement contemporary aesthetics. This makes them a popular choice for consumers looking to enhance the visual ambiance of their living spaces. Besides, sleek designs are typically more compact and space-efficient, catering to the needs of urban dwellers having limited living space. Furthermore, many modern furniture designs offer customization options, assisting consumers to choose finishes and materials to match their specific needs and preferences. This personalization increases the product demand, propelling the global side table market growth.

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Side Table Market Growth Factors

Increasing Popularity of Contemporary Home Décor to Boost Market Growth

The popularity of home design shows, magazines, and social media platforms showcasing contemporary home interiors significantly influences consumer preferences. As people aspire to recreate these looks in their own homes, the demand for stylish furniture. Additionally, current home decor trends, such as minimalist, sleek, or industrial styles, drive consumers to choose tables that complement these themes, further enhancing sales. With a greater emphasis on long-term investments in home decor, consumers are willing to spend more on high-quality products that offer durability and timeless design. For instance, as per findings from the '2022 Remodeling Impact Report,' released by the National Association of Realtors (NAR), an American Housing Industry Association, 30% of participants view the enhancement of worn-out surfaces, finishes, and materials as a key driver for home renovation.

Rapid Growth of the Real-Estate Sector to Drive Product Demand

The expansion of the real estate sector, particularly in furnished apartments, heightens the necessity for side table with drawer as integral components of the essential furnishings. Tenants aiming to elevate their leased premises frequently prefer these tables to enhance functionality and aesthetics, increasing the global side table market share. Furthermore, with more homes being built and purchased, new homeowners need to furnish their spaces. Side tables are essential furniture pieces for living rooms, bedrooms, and other areas, leading to increased demand. Moreover, new homeowners often seek to personalize their spaces, driving the demand for a variety of furniture according to different interior design preferences and themes.

RESTRAINING FACTORS

Fluctuations in the Cost of Raw Materials to Limit Market Growth

Fluctuations in raw material prices can restrict the product demand by increasing the costs for consumers. When the prices of raw materials for production rise, manufacturers may pass on these increased costs to consumers through higher prices. This can make these tables less affordable for some consumers, leading to a decrease in demand. Moreover, consumers may opt for alternative furniture options or choose lower-priced tables made from different materials. This shift in preferences can impact demand for products made from high-quality raw materials.

Side Table Market Segmentation Analysis

By Material Analysis

Elegant Look Provided by Wood-based Tables to Augment Segment Growth

Based on material, the market has been divided into wood, metal, plastic, and others.

The wood segment is expected to dominate the market. Wood tables offer an elegant and natural aesthetic look that attracts a wide range of consumers. The warmth, texture, and grain patterns of wood add charm to any space, making wood tables a popular choice for interior decor.

The other materials (glass, plywood, rattan, etc.) segment is projected to gain a significant share in the future. Products featuring glass and plywood are often lightweight and portable, which makes them ideal for small living spaces. Besides, other materials offer versatility in design, allowing for the creation of unique shapes, finishes, and textures.

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By Application Analysis

Rising Home Décor Trend to Intensify Residential Segment Growth

Based on application, the global side table market has been divided into residential and commercial.

The residential segment is likely to lead the market during the projection period. The residential segment is driven by trends in home decor and furnishing, where these tables play a crucial role in enhancing the functionality and aesthetics of living spaces. Moreover, changes in lifestyle, such as an increase in remote work and leisure activities at home, have led to a greater demand for functional furniture, including these tables.

The commercial segment is also growing at a significant CAGR. Commercial establishments often use furniture, as part of their branding and interior design strategies. Stylish and well-designed tables can enhance the overall aesthetics of a space, creating a positive impression on clients and visitors.

REGIONAL INSIGHTS

On the basis of geography, the global market has been split into Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

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In 2023, Asia Pacific gained the highest share of 47.44% in the global market. The rapid urbanization in the region is driving up residential construction and the demand for furniture. With the expansion of urban populations, there is a high requirement for home furnishings, including side tables, to furnish new homes and apartments. Moreover, Asia Pacific is a central manufacturing hub for furniture, profiting from lower labor costs and abundant raw materials.

As per data provided by the CNFA (China National Furniture Association), in Q1 2022, Chinese furniture manufacturing companies accrued a total operating income of USD 24.09 billion, marking a 3.2% increase compared to the preceding year. Furthermore, nations such as China, Vietnam, and Malaysia play a crucial role as exporters of furniture to international markets owing to their efficient manufacturing capabilities.

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Led by the U.S., the North American market is growing rapidly. North America has a strong culture of home ownership, with a large proportion of the population owning homes. Homeowners often invest in furniture to personalize and improve their living spaces, driving the product demand. Moreover, the region is home to influential design trends and styles that shape consumer preferences in the furniture market. For instance, in July 2023, Coco Republic, an Australian furniture company, launched its online store featuring a range of high-quality and cost-effective furniture options, including dining tables, in the U.S. market.

The European market is growing rapidly. Recently, there has been a growing trend of home improvement and renovation projects in European countries, driven by factors such as changing lifestyle preferences and high disposable income. For instance, according to the Office for National Statistics of the U.K., in the fourth quarter of 2023, disposable personal income in the U.K. rose to USD 477,180 billion from USD 473,685 billion in the third quarter of 2023. Additionally, renovation projects often involve updating furniture, accelerating the product demand.

The tourism and hospitality industries are experiencing significant growth in South America and the Middle East & Africa, leading to increased product demand within the commercial sector. Furthermore, the regions have a diverse retail landscape, including traditional markets, furniture stores, home decor boutiques, and online retailers. This variety of shopping options provides consumers with access to a wide range of designs and patterns, stimulating market growth.

KEY INDUSTRY PLAYERS

Advancements in Manufacturing to Intensify Market Growth

Side tables with multifunctional features, such as built-in storage compartments, charging ports, adjustable heights, or convertible surfaces, cater to the evolving needs of consumers. Companies producing furniture with versatile functionality gain a competitive edge and attract a broader consumer base. Additionally, incorporating smart technology into furniture manufacturing, such as wireless charging capabilities, integrated speakers, or touch-sensitive controls, boosts the user experience and attracts tech-savvy consumers. Therefore, manufacturers offering technological advancements in furniture design establish themselves as industry leaders and gain market share by catering to modern lifestyles. For instance, from the second quarter to the third quarter of the fiscal year 2022, Millerknoll, a luxury brand owned by Herman Miller, Inc., saw a significant increase of 74.3% in its net sales, reaching a total of USD 1,029.5 million.

LIST OF TOP SIDE TABLE COMPANIES:

• Steelcase Inc. (U.S.)


• MillerKnoll, Inc. (U.S.)


• Ashley Furniture Industries, Inc. (U.S.)


• GLOBAL FURNITURE USA (U.S.)


• KOKUYO Co., Ltd. (Japan)


• Ethan Allen Global, Inc. (U.S.)


• Godrej & Boyce Mfg. Co. Ltd. (India)


• B&B ITALIA SPA (Italy)


• Sunpan Trading & Importing, Inc. (Canada)        


• CB2 (U.S.)


• Pepperfry Limited (India)


• IKEA (Sweden)


• HNI Corporation (U.S.)


• Natuzzi S.p.A. (Italy)


• Dorel Industries Inc. (Canada)

KEY INDUSTRY DEVELOPMENTS:

• February 2023 - Steelcase, Inc., a global furniture manufacturing company, in partnership with the Frank Lloyd Wright Foundation, introduced the Racine Collection, featuring a range of items, including dining chairs, side tables, and desks. These offerings embody contemporary design elements, utilizing high-performance fabrics, materials, and adjustments to enhance user comfort.


• September 2022 – Tidelli, a specialist outdoor living furniture developer launched, Rio, a line of Rio de Janeiro-inspired arm chairs and a side table in the Peruvian market. These products are designed with differentiated features details on the base and an overlap of aluminum structure at the top.


• July 2021 – IMM Private Equity, a South Korean private equity firm, made a USD 1.3 billion investment for the acquisition of Hanssem Co., a South Korean company specialized in home furnishings and furniture. The acquisition would help enhance its portfolio, particularly in the dining room furniture segment.


• June 2021: Alsorg, a high-end bespoke furniture manufacturer unveiled a collection of exquisite side tables in an Indian market. These products consists of brand’s trademark innovative designs and consist of fine craftsmanship & luxurious material palette.


• March 2021 – Plüsch, a high-end kitchen furniture brand, introduced a distinguished selection of coffee, dining, and side tables crafted from natural stone, glass, wood, and metal materials in Germany.

REPORT COVERAGE

The report analyzes the market in-depth and highlights crucial aspects such as prominent companies, product types, sales channels, and application usage areas. Besides this, the research report provides insights into the market trends and highlights significant industry developments. In addition to the aspects mentioned earlier, it encompasses several factors contributing to the market growth over recent years.

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Report Scope & Segmentation