This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Home Furniture Market

Home Furniture Market

Home Furniture Market Size, Share Analysis by Product Type (Beds and Mattresses, Sofas and Armchairs, Entertainment Units, Storage Units), by Material Type (Wooden Home Furniture, Metal Home Furniture, Glass Home Furniture), by Sales Channel (Retail Stores, Direct to Consumers, Manufacturer Stores) & Regional Forecast, 2021-2031

Home Furniture Market
  • Nov-2021
  • List of Tables : 69
  • List of Figures : 165
  • 170 Pages
  • Consumer Goods

Market Snapshot

Market research and competitive intelligence provider Fact.MR expects demand for home furniture to register positive growth from 2021-2031, reaching US$ 290 Bn in value and registering 1.8x growth. By 2021, sales are anticipated to be valued at US$ 162 Bn. Amongst all product types, sales of beds & mattresses will experience maximum growth, reaching US$ 43 Bn by 2031.

Market Size Value in 2021 US$ 162 Bn
Project Market Forecast Value in 2031 US$ 290 Bn
Global Growth Rate (2021-2031) 6%
Market Share of China 60% 

Demand Analysis of Home furniture from 2016 to 2020 Vs Market Projections for 2021 to 2031  

Historically, from 2016 to 2020, sales of home furniture experienced a growth rate of 2.5% annually in 2020. Wherein, highly populated countries such as China, India, the U.S., and Brazil held significant share in the global market.

Increasing focus on decorating living spaces with creative furniture is one of the main factors boosting demand for premium quality home furniture. In addition, the market is benefiting from integration of smart sensing technology in furniture coupled with increased comfortable designs.

Due to the aforementioned trends and increased offerings, the global market for home furniture is projected to rise at a robust 6% CAGR during 2021–2031, and reach US$ 290 Bn by the end of this period.

Is Smart Technology Playing a Key Role in Boosting Sales of Home Furniture?

Integrating home furniture with sensors and other smart technology can be a convincing recommendation for manufacturers to fulfil the needs of corporate buyers, especially in the hospitality sector. The approach of remote-controlled home furniture is a valid example. There is mounting interest for home furniture incorporated with easy-to-use electronic technology that improves the degree of solace for clients.

Apart from this, there is ascending interest for multi-purpose home furnishings, particularly among private purchasers. Some multi-purpose furniture includes couch cum beds, water-driven beds, foldable tables, etc. These multi-purpose furniture products are attracting retail clients who need to utilize their spaces well.

Will Emergence of Smart Home Furniture Catalyse Market Expansion?

With increasing urbanization, demand for smart and technology integrated furniture is gaining traction. Charging phone lamps, tablet coffee tables, color -hanging side boards, and smart beds are examples of smart furniture. Furthermore, as adaptability of renewable energy is gaining traction, demand for solar-powered rockers is experiencing a sudden surge.

With the emergence of Internet of Things, pairing of a basic household item with IoT transforms it into an item with totally new highlights. For instance, Eliot is fundamentally a table whose height can be changed by engines incorporated into the table legs.

Avail customized purchase options for your needs

Country-wise Analysis

Will China Influence Prices of Home Furniture Products?

In 2020, China accounted for a lion’s share of the market, due to fact that urbanisation levels reach 60.6% in 2019, due to ascending population and advancing number of local manufacturers. A revenue share worth 60% is projected for the Chinese market.

Beijing, with the adoption of the economy scale of production concept, is not only capable of meeting regional demand but also stands as a leading supplier at reasonable prices. Regional manufacturers in other countries are facing problems to compete with Chinese players.

Aside from domestic sales, China's furniture exports have been steadily increasing. Exports of furniture and furniture parts totalled US$ 58.3 Bn in 2019, up 5.3% year-on-year, according to the Statistical Communiqué on the 2019 National Economic and Social Development.

In 2019, per capita disposable income increased 8.9% over the previous year. The furniture market has grown tremendously as a result of this increasing purchasing power. Revenue of furniture manufacturers increased 1.5% year-on-year to US$ 111.3 Bn in 2019, according to data issued by the National Bureau of Statistics, while overall profits increased 10.8% year-on-year to US$ 7.2 Bn.

How will the U.S Generate Demand for Home Furniture in Forthcoming Years?

In the recent years, U.S. has witnessed an upsurge in construction activities. This, in turn, has propelled the sales of home furniture. Availability of various customized furniture options is further boosting the sales of home furniture. In addition, studio apartments along with penthouse apartments has increased the demand of flexible and compact furniture.

Furthermore, manufactures of home furniture offer a wide range of colour pallets through the medium of books and websites to the consumers. This, in turn, has increased the viability of choosing furniture options. Thus, according to Fact.MR, due to the above mentioned factors, home furniture is expected to possess 25% market share throughout the U.S.  

Home furniture market forecast analysis by Fact.MR

Category-wise Insights

Demand for Enhanced Comfort Spurring Beds & Mattresses Sales?

Beds & mattresses accounted for a majority of market share with a valuation of US$ 30 Bn in 2019, and is expected to exceed US$ 43 Bn by 2031, and is predicted to grow at promising CAGR of close to 7%. Prospects are especially lucrative for beds & mattresses designed to improve sleep posture and reduce structural deformities.

Prominent manufacturers are incorporating high-resilience (HR) foam, helping generate more durable and longer-lasting mattresses. Moreover, viscoelastic foams are used to improve pressure distribution while enhancing breathability and heat dissipation. Recently, in 2021, online sleep solutions brand Durfi launched a new line of hemp seed oil infused cotton candy memory foam mattresses in India which provides enhanced relaxation from anxiety, insomnia, depression, etc.

Demand for Wooden Home Furniture to Outpace Other Categories?

By material type, demand for wooden furniture is anticipated to remain highly prominent, attributed to their strength and durability and high aesthetic appeal. Furthermore, rising sustainability concerns are prompting consumers to opt for more environmentally friendly furniture. A CAGR worth 6% is projected for this segment.

A series of new product launches have peppered the wooden furniture landscape in recent months. For instance, in August 2021, introduced a limited edition collection of its Stine Aas Cleo chairs, incorporating a dye-finish which accentuates the natural tone and grain of its ash wood surface.

An Adaptive Approach to Modern-day Research Needs

Competitive Landscape

Prominent home furniture manufacturers are reliant on capacity expansion initiatives, enabling them to serve a broader customer base and enhancing manufacturing capabilities to increase output. Notable developments are as follows:

  • Ashley Furniture Industries announced plans to initiate a new manufacturing facility in Pottsville, Pennsylvania, in March 2021. The new 100,000 square feet facility will serve as a furniture production site. This latest addition augments its already existing network of 11 production facilities servicing the U.S
  • Likewise, in July 2021, La-Z-Boy Incorporated announced an investment of over US$ 30 million over a 2-year period in its Neosho, Missouri manufacturing facility, helping scale up production efficiency and shorten lead times for customers and consumers, as well as strengthening their manufacturing footprint
  • In August 2021, Flexsteel Industries Inc. announced the opening of a 4th manufacturing facility in Mexico, in Mexicali, which is expected to be the largest plant in the whole country. With this initiation, the company intends to double its volume output to US$ 1 billion over the next 5 years

Report Scope

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania 
  • Middle East & Africa
Key Countries Covered
  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • UK
  • Spain
  • France
  • Italy
  • Russia
  • India
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC
  • South Africa
Key Segments Covered
  • Product Type
  • Material Type
  • Sales Channel
  • Region
Key Companies Profiled
  • Ashley Furniture Industries
  • La-Z-Boy Incorporated
  • Flexsteel Industries Inc.
  • Inter Ikea Systems B.V.
  • Suofeiya Home Collection Co Ltd
  • Nitori Co Ltd
  • Basset Furniture Industries Inc.
  • Steinhoff International Holding N.V
  • Herman Miller Inc.
  • Kimball International, Inc.
  • Williams-Sonoma, Inc
  • Berkshire Hathaway
  • Steelcase
Pricing Available upon Request

Interested to Procure The Data

Key Segments Covered

  • Product Type

    • Beds and Mattresses
    • Sofas and Armchairs
    • Entertainment Units
    • Storage Units
    • Upholstery
    • Tables and Desks
    • Dining Home Furniture
    • Kitchen Home Furniture
    • Others 
  • Material Type

    • Wooden Home Furniture
    • Metal Home Furniture
    • Glass Home Furniture
    • Plastic Home Furniture
    • Others 
  • Sales Channel        

    • Home Furniture Sold at Retail Stores
    • Home Furniture Sold Direct to Consumers
    • Home Furniture Sold at Manufacturer Stores
    • Home Furniture Sold through e-Commerce Stores
    • Home Furniture Sold at Discount stores
    • Home Furniture Sold at Rental Stores
    • Home Furniture Sold at Club Stores
    • Home Furniture Sold at DIY Stores

Home Furniture Market- Scope of Report

A recent study by Fact.MR on the home furniture market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering home furniture.

The study also provides the dynamics responsible for influencing the future status of the home furniture market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the home furniture market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of home furniture across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of home furniture during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative home furniture markets?
  • Which factors will impact the growth of home furniture?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the home furniture industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for home furniture are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global home furniture market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the home furniture market during the forecast period.

Country-specific valuation on demand for home furniture has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of home furniture, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering home furniture has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the home furniture domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the home furniture industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2021, the market for home furniture reached nearly US$ 162 Bn

The home furniture industry is expected to surpass a CAGR of 6% from 2021-2031.

The home furniture market is expected to reach nearly US$ 290 Bn by 2031

From 2016 to 2020, home furniture demand surged at a CAGR of 2.5%, according to Fact.MR

Increasing urbanization along with ease of choosing from a wide variety of options are the key trends driving home furniture sales.

Ashley Furniture Industries, La-Z-Boy Incorporated, Flexsteel Industries, Inc and Inter Ikea Systems B.V. are some prominent home furniture manufacturers

Bed and mattresses are expected to register a CAGR of 7%, reaching US$ 43 Bn by 2031

As per Fact.MR, home furniture sales in the U.S is expected to account for 25% of the global market

China is slated to emerge as the largest home furniture market, capturing 60% of total revenue

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Theodolite Market

Demand for theodolites to surge on back increasing application across verticals. Fact.MR explores su...

Laundry Scent Booster Market

Laundry Scent Booster Market is expected to reach a valuation of US$ 1.3 billion by 2031. Beads and ...

Gas Cylinder Market

Gas Cylinder Market is estimated to grow at a CAGR of over 8% during the forecast period, 2021-2031....

Feedstuff Additives Market

Feedstuff additives market is likely to witness steady growth throughout 2028. Rising modern intensi...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.