Description
Mexico Furniture Industry
Furniture refers to movable objects that support various human activities, such as sitting, lying down, or storing items. Some common types of furniture include chairs, tables, beds, desks, and cabinets. These pieces can serve functional and aesthetic purposes, enhancing the practicality and visual appeal of indoor and outdoor spaces. Furniture is made from a variety of materials, including wood, metal, plastic, and textiles. Traditionally, furniture was handmade, but the advent of industrialization led to the mass production of standardized items.
While not one of its better-known industries, furniture industry in Mexico represents a dynamic and thriving economic sector. The Mexico Furniture Market is a rapidly growing industry that offers a wide range of products to suit different styles and budgets. The market has been expanding over the past years, thanks to a combination of factors such as increasing disposable income, urbanization, and rising demand for quality furniture. Up to 2022, the furniture market in Mexico is valued at approximately $2.5 billion USD. Sector growth averages a startling 10% per year.
Mexican-made furniture is popular both domestically and internationally due to its unique designs and high-quality craftsmanship. A notable trend in the Mexico Furniture Market is the shift towards eco-friendly materials. Consumers are now opting for sustainable options like bamboo or recycled plastic instead of traditional hardwoods that contribute significantly to deforestation.
According to CRI’s analysis, the total revenue of the Mexico furniture market in 2023 was estimated to be 8.9 billion USD. It is evident that Living Room Furniture accounts for the largest share of the furniture market in Mexico.
According to CRI’s analysis, the Furniture market in Mexico is projected to generate a revenue of 14.8 billion USD in 2024. The market is expected to experience an annual growth rate of 5.2% from 2024 to 2033.
According to CRI, the furniture industry in Mexico is forecast to continue to grow from 2024-2033. On the one hand, Mexico’s growing urban population drives up demand for furnishings. The urbanization of the population is predicted to boost furniture sales. As more people move to cities, their lifestyles and standards of living change, creating demand for a wide range of products. It, in turn, largely fuels Mexican furniture demand.
On the other hand, Mexican furniture design typically features a fusion of cultural elements, such as indigenous, Spanish colonial and European forms. This combination of traditions leads to furniture that is both unique and culturally rich. Mexico is known for its hacienda-style furniture, characterized by its solid wood construction, rustic finishes, and elegant yet functional designs. These pieces evoke a sense of old-world charm and are popular in Mexico.
In addition, according to CRI’s market research, there are many furniture manufacturing companies planning to relocate from Asia to Mexico to facilitate exports to the North American market and to circumvent trade barriers such as tariffs.
Topics covered:
- Mexico Furniture Industry Overview
- The economic and policy environment of Mexico’s furniture industry
- Mexico Furniture Industry Market Size, 2024-2033
- Analysis of the main Mexico furniture production enterprises
- Key drivers and market opportunities for Mexico’s furniture industry
- What are the key drivers, challenges and opportunities for Mexico’s furniture industry during the forecast period 2024-2033?
- Which companies are the key players in the Mexico furniture industry market and what are their competitive advantages?
- What is the expected revenue of Mexico furniture industry market during the forecast period 2024-2033?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Mexico furniture industry market is expected to dominate the market by 2032?
- What are the main negative factors facing the furniture industry in Mexico?
Table of Contents
1 Mexico at a Glance
1.1 Geographical situation
1.2 Mexico’s Demographic Structure
1.3 Mexico’s economic situation
1.4 Minimum Wage in Mexico, 2014-2023
1.5 Impact of COVID-19 on the Furniture Industry in Mexico
2. Overview of Mexico Furniture Industry
2.1 History of Mexico Furniture Industry Development
2.2 FDI in Mexico Furniture Industry
2.3 Social Environment of Mexico Furniture Industry
2.4 Policy Environment of Mexico Furniture Industry
3. Mexico Furniture Industry Supply and Demand Situation
3.1 Mexico Furniture Industry Supply Situation
3.2 Mexico Furniture Industry Demand Situation
4. Mexico Furniture Industry Import and Export Situation
4.1 Mexico Furniture Industry Import Situation
4.1.1 Import Volume and Import Value of Mexico Furniture Industry
4.1.2 Main Import Sources of Mexico Furniture
4.2 Mexico Furniture Industry Export Situation
4.2.1 Export Volume and Import Value of Mexico Furniture Industry
4.2.2 Main Export Destinations of Mexico Furniture
5. Cost Analysis of the Mexico Furniture Industry
5.1 Cost Analysis of Mexico Furniture Industry
5.1.1 Labor costs
5.1.2 Cost of raw materials
5.1.3 Other costs
5.2 Price Analysis of Mexico Furniture
6. Market Competition of Mexico Furniture Industry
6.1 Barriers to entry in the Mexico Furniture Industry
6.1.1 Brand Barriers
6.1.2 Quality Barriers
6.1.3 Capital Barriers
6.2 Competitive Structure of Mexico Furniture Industry
6.2.1 Bargaining Power of Upstream Suppliers
6.2.2 Consumer Bargaining Power
6.2.3 Competition in Mexico Furniture Industry
6.2.4 Threat of Potential Entrants
6.2.5 Threat of Substitutes
7 Analysis of major furniture companies in Mexico
7.1 GAIA Design
7.1.1 GAIA Design Corporate Profile
7.1.2 GAIA Design Enterprise Revenue Status
7.2 Solutions Mexico
7.2.1 Solutions Mexico Corporate Profile
7.2.2 Solutions Mexico Enterprise Revenue Status
7.3 American Home Furniture & Mattress
7.3.1 American Home Furniture & Mattress Corporate Profile
7.3.2 American Home Furniture & Mattress Corporate Revenue Status
7.4 Grupo Axo
7.4.1 Grupo Axo Corporate Profile
7.4.2 Grupo Axo Corporate Revenues
7.5 Vila Furniture
7.5.1 Vila Furniture Corporate Profile
7.5.2 Vila Furniture Enterprise Revenue Status
7.6 Crate & Barrel
7.6.1 Crate & Barrel Corporate Profile
7.6.2 Crate & Barrel Corporate Revenue Status
7.7 Tema Furniture
7.7.1 Tema Furniture Corporate Profile
7.7.2 Tema Furniture Corporate Revenue Status
8. Mexico Furniture Industry Outlook, 2024-2033
8.1 Analysis of Factors Influencing the Development of the Mexico Furniture Industry
8.1.1 Drivers and Development Opportunities
8.1.2 Threats and Challenges
8.2 Supply Forecast of Mexico Furniture Industry, 2024-2033
8.3 Demand Forecast of Mexico Furniture Industry, 2024-2033
8.4 Import and Export Forecast of Mexico Furniture Industry, 2024-2033
LIST OF CHARTS
Chart Total population of Mexico 2008-2022
Chart GDP per capita in Mexico 2013-2022
Chart Furniture Industry Related Policies Issued by the Mexico Government 2018-2024
Chart Market size of furniture industry in Mexico
Chart 2019-2023 Mexico furniture industry imports
Chart 2019-2023 Mexico furniture industry import amount
Chart 2019-2023 Mexico furniture industry importers and import value
Chart 2019-2023 Export volume of Mexico’s furniture industry
Chart 2019-2023 Export value of Mexico’s furniture industry
Chart Exporting countries and export value of Mexico’s furniture industry in 2019-2023
Chart 2024-2033 Mexico furniture industry production forecast
Chart 2024-2033 Mexico Furniture Market Size Forecast
Chart 2024-2033 Mexico furniture industry import forecast
Chart 2024-2033 Export forecast for Mexico’s furniture industry
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