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Home Furniture Market

Home Furniture Market

Home Furniture Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

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

Key Questions Answered in Report

How fast is the home furniture market expected to growth through 2031?

By value, Fact.MR has projected around 6% CAGR for home furniture sales during 2021-2031, and the market is expected to be valued at around US$ 290 Bn by end of 2031.

Which are the most lucrative markets for home furniture manufacturers?

As per Fact.MR’s projections, China, Japan, India, Indonesia, Malaysia, and Thailand are markets expanding at high CAGRs. Together, APEJ and Japan are projected to hold nearly 35% of the market share through 2031.

Who are the prominent manufacturers of home furniture?

Tire-1 manufacturers of home furniture such as Ashley Furniture Industries, La-Z-Boy Incorporated, Flexsteel Industries, Inc., Inter Ikea Systems B.V., and Suofeiya Home Collection Co Ltd., along with other key manufacturers, together accounted for around 20% market share of global revenue in 2020. The market is fragmented due to a number of regional players across the globe.

Report Also Addresses:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Home Furniture and How to Navigate
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Sales 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, 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 to this, 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 robust 6% CAGR during 2021–2031, and reach US$ 290 Bn by the end of this period.

What are the Key Opportunities for Home Furniture Manufacturers?

Integrating home furniture with sensors and other smart technology can be a convincing recommendation for manufacturers to fulfill 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.

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Will Emergence of Smart Home Furniture Catalyze 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.

Which Region Offers the Largest Opportunity for Sales of Home Furniture?

With an absolute dollar opportunity of more than US$ 12 Bn, APEJ is expected to be the most lucrative market for home furniture manufacturers. China is leading the East Asian market, and is expected to continue its dominance throughout the forecast period 2021-2031.

With fast-paced growth of its economy and changes in lifestyle, customers in India are inclining towards multi-purpose furniture with comfortable features.

On the other hand, Europe is also poised to experience impressive growth, backed by technological integration and product enhancements. Furthermore, ascending hospitality industry in the region is providing a boost for home furniture sales.

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Country-wise Analysis

Why is Demand for Home Furniture in India Still Growing at a Single-Digit CAGR?

The market in India grew just 2.1% from 2016 to 2020. The main reason behind this lower growth rate is lower individuality index coupled with impact of COVID-19 in 2020.

Demand for home furniture in India is expected to decline in 2021 as well due to extended impact of lockdowns at the state level. However, increasing urbanization and migration of individuals/families to different cities will facilitate slight increase in demand for home furniture by 2031-end.

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.

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.

However, mounting tension between China and other economies will result in imposition of additional taxes and exercise duties, which will help other regional manufacturers to compete with Chinese origin products.

Category-wise Insights        

Which Home Furniture Product Generates Most Revenue for the Market?

Beds & mattresses accounted for a majority of market share with a valuation of US$ $30 billion in 2019, and is expected to increase to US$ 43 billion by 2024, and is predicted to grow at promising CAGR of close to 7%.

Demand for this is scattered depending on material as well as price point with respect to end-use customers’ requirements. Furthermore, entertainment units are poised to grow at an impressive growth rate, backed by ascending demand from the urban population.

Tables & desks are also seen as targeted products to increase profitability. This is due to the fact that COVID-19 has led to the emergence of the Work from Home (WFH) culture, and this trend is expected to continue for a long time frame.

Which Sales Channel is the Most Lucrative for Home Furniture Manufacturers?

Retail Sales account for a sizable market share and are expected to grow at a moderate growth rate during the forecast period. With increasing use of digital platforms, e-Commerce, as a sales channel, is seen as an emerging segment with an impressive expected growth rate.

  • Ashley HomeStore was the top-selling furniture retail store in the United States in 2019, with sales of approximately US$ 5 Bn.
  • Ikea was the leading specialty furniture store in the United States with sales of around US$ 3.31 Bn.

Furthermore, manufacturer stores are gaining traction as a result of increasing need for customized furniture and easy selection of designs. In addition to all of these, the rental sales channel is among the fastest-growing channel as a result of nuclear families migrating from one city to another as per the location of their offices.

Has COVID-19 Dented Sales of Home Furniture?

The market experienced a downfall of more than 12% in 2020. COVID-19 has significantly impacted demand for home furniture, as a result of imposition of regional and national level lockdowns.

In addition to this, disrupted supply chains further affected the market. Production of non-essential goods was affected, which further contributed to a fall in sales figures.

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Competitive Landscape

Fact.MR has profiled the following key home furniture manufacturers in its report:

  • 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

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Some of the key developments are:

  • In May 2021, CITY Furniture launched 3D and augmented reality to its online user experience. This will allow retail clients to experience a 360 degree view of their living space before buying furniture. The company is expecting an increase of 179% in sales for the financial year 2021-2022.
  • In May 2021, Hooker Furniture and Sam Moore, both divisions of Hooker Furnishings, covered new ground at an event named High Point Market, with the dual launch of Chapman, a line of case goods from Hooker and upholstery from Sam Moore. This collaboration is aimed at increased focus on the millennial.

Similarly, recent developments related to companies manufacturing home furniture have been tracked by the team at Fact.MR, which are available in the full report.

Report Scope



Forecast Period


Historical Data Available for


Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • South Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia and New Zealand

Key Segments Covered

  • Product
  • Material
  • 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


Available upon Request

Key Market Segments Covered

  • By Product Type

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

    • Wooden Home Furniture
    • Metal Home Furniture
    • Glass Home Furniture
    • Plastic Home Furniture
    • Others 
  • By Sales Chanel        

    • 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
  • By Region

    • North America
    • Latin America
    • Europe
    • Japan
    • Asia Pacific Excl. Japan
    • MEA

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 the manufacturing of home furniture. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of the 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 a 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 scenario 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.

Market Segmentation

Fact.MR has studied the market with detailed segmentation on the basis of product, material, sales channel, and key regions.

  • Beds and Mattress
  • Sofas and Armchairs
  • Entertainment Units
  • Storage Units
  • Upholstery
  • Tables and Desks
  • Dining Furniture
  • Kitchen Furniture
  • Others
  • Wood
  • Metal
  • Glass
  • Plastic
  • Others
Sales Channel
  • Retail Stores
  • Direct to Consumer
  • Manufacturer Stores
  • e-Commerce Stores
  • Discount Stores
  • Rental Stores
  • Club Stores
  • DIY Stores
  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • Middle East & Africa

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized d and prohibited.”

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of value (US$ Mn).

Market estimates at global and regional levels are available in terms of “US$ Mn” for value and in 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 market 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 home furniture market during the forecast period.

Country-specific valuation on demand for home furniture has been offered for each regional market, 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 and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

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 the production of 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 portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all 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 market. Prominent companies operating in the market include 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, and Steelcase.

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Is the market research conducted by Fact.MR?

Yes, the report on the radiation proctitis treatment industry 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.