The news was confirmed by Salone del Mobile organisers after first being leaked yesterday by Italian financial newspaper Milano Finanza.
"The date of the Milan Furniture Fair has changed again," the financial publication wrote yesterday, adding that "tomorrow the organisers will give the announcement due to the continuation of the Coronavirus emergency."
"Now it will take place in 2021, just like the Olympics, the European football championships and numerous other events," the publication wrote.
Organisers of the fair confirmed the rumours on the Salone del Mobile website. "The 2020 edition of the Salone del Mobile.Milano has been suspended," they wrote. "The event will now take place from 13th to 18th April 2021."
Italian media outlets including Domus added to the speculation ahead of the confirmation. "Due to the current health emergency it is likely that Milano Design Week, already postponed, will be rescheduled to 2021," wrote the architecture and design title.
Salone del Mobile, the world's largest and most important furniture fair, was initially due to take place between 21 and 26 April, but was postponed until 16-21 June as the pandemic took hold in northern Italy.
Salone del Mobile confirmed that a decision is imminent. "Today in the afternoon the board of Salone will make a decision about it," the fair told Dezeen. "As soon as we will have the official information we will communicate it immediately to all the press."
Italy's Elle Decor magazine said that speculation was not helpful. "The point is that we must wait to hear what the Salone del Mobile officially tells us," it wrote. "And then to understand all together - media, companies, designers, buyers - how to move to restart the machine."
"It was a painful decision given the huge and induced business that the most important furniture fair in the world brings to Milan every year," wrote Laura Traldi, a Milanese journalist who runs design blog Design at Large.
Cancellation will have a huge impact on Milan's economy, Traldi said. "We are talking about 120 million euros for the Salone del Mobile alone. And another 250 million if we add the proceeds for moving, welcoming and supporting the visitors."
The fair and the related fuorisalone events that take place around the city draw around 500,000 people to the city each year.
The Covid-19 pandemic has forced the cancellation or postponement of almost every architecture and design event this spring and summer. The Venice Architecture Biennale in Venice has been postponed, while MIPIM in Cannes has been cancelled and the Olympics has been pushed to 2021.