Console Table Market Size and Trends
The console table market size is expected to grow from US$ 4.64 Bn in 2023 to US$ 6.70 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 5.4% during the forecast period. The growth of the market is driven by factors such as increasing disposable incomes, growing demand for home décor, and rising popularity of console tables as a storage and display unit.
Console Table Market Trends
- Multifunctional designs for small spaces: Console tables that are designed for small and urban living spaces are a major trend. With rising urban density and apartment living, manufacturers are launching space-saving console tables suited for compact homes. For instances, according to the United States Census Bureau, the average size of a new single-family home in 2020 was 2,298 square feet, down from 2,467 square feet in 2015. This underscores the growing demand for compact, versatile furniture, according to major furniture retailers. With this, the sales of multi-functional console tables increased by almost 30% from 2020 to 2021.
- Mixing materials and eclectic styles: Unique console tables that blend materials like wood, metal, glass, cement, and distressed finishes are gaining popularity. Consumers prefer statement pieces that stand out. For example, IKEA has introduced some console table designs which are made of a combination of wood, glass, and metal. Similarly, several handicraft cooperatives in India are making console tables fusing wood, cane, and marble.
- Revival of traditional craftsmanship: Amid fast furniture trends, there is a counter movement towards traditional craftsmanship and heritage designs for console tables. Hand carved ornamentation, inlaid woodwork, and attention to detail appeals to consumers those who are looking for timeless artisanal quality.
- Sustainable and natural materials: Using sustainable materials is an evolving trend in console table designs. Recycled teak, upcycled woods, and eco-friendly bamboo are some options growing in popularity.
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