Global Furniture Market Overview
Nowadays, furniture is a necessary part of modern lifestyle. It helps to organize the household and any other structure efficiently. The furniture range includes tables, chairs, beds, and other related organizers, which aids in making life convenient. Furniture also adds an aesthetic look to the interior and exterior space of the home and commercial spaces.
Global Furniture Market Dynamics
Rising Demand for Domestic Furniture
The demand for multi-functional furniture is growing with various characteristics such as stylish design, maximum storage facility, and innovative space-saving designs. These factors are expected to drive the global furniture market growth over the forecast period. Based on the preference and taste of the consumers, the key players in the market are providing various products, which is likely to influence the sales of domestic and office furniture in the coming years. Further, growing expenditure on domestic furniture products has inclined the demand for luxury furniture products. This is expected to provide an opportunity for the growth of the furniture market over the forecast period.
Advancements in technology, design, and furniture customization as per-requisites of the end user are boosting the growth of the global market. In addition, the growing number of startup companies in developing and developed countries is propelling demand for commercial furniture, which turns to the growth of the global market. Moreover, rapid urbanization, increasing disposable income, industrialization, and growing demand for luxurious furniture are some factors expected to fuel the growth of the target market in the coming years. The rising number of renovation activities among residential and commercial spaces and the growing population are some of the critical factors for supporting the revenue growth of the global market.
Product Prices
The availability of counterfeit furniture products at a lower cost may limit the target market growth over the forecast period to a certain extent.
Global Furniture Market Segmentation
The furniture market is segmented based on material, application, sales channel, and region.
Based on material, the furniture market is segmented into wood, plastic, metal, and others (leather and glass. Based on application, the target market is classified into residential, kitchen & dining, bedroom, living room, outdoor, commercial, hotels, offices, educational institutes, and hospitality. Based on sales channels, the target market is bifurcated online and offline.
Regional Insights:
The furniture market is segmented into regions into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific furniture market is expected to account for extensive revenue shares in the target market. Additionally, the inclination towards modern lifestyle and rapid urbanization are some of the significant factors projected to drive revenue growth of the global market in this region. Further, the availability of raw materials and labor required for producing various kinds of furniture at lower cost and a solid manufacturing base are creating opportunities for manufacturers to expand the business. The furniture market in North America is estimated to witness moderate growth, due to increasing demand for premium furniture. Inclination towards luxurious lifestyle and high disposable income of the population is the major reason driving growth of the global market. Moreover, the increasing number of corporate offices, hotels, and other commercial spaces are some factors predicted to boost demand for commercial furniture, which turns in the growth of the target market in this region.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2019 |
|
Forecast period |
2019 – 2029 |
|
Market representation |
Revenue in USD Million & CAGR from 2019 to 2029 |
|
Market Segmentation |
By Material - Wood, Plastic, Metal, and Others (Leather and Glass By Application– Residential, Kitchen & Dining, Bedroom, Living Room, Outdoor, Commercial, Hotels, Offices, Educational institutes, Hospitality By Sales Channel– Online and Offline |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Furniture market report based on material, application, sales channel, and region:
Furniture Market, By Material:
- Wood
- Plastic
- Metal
- Others (Leather and Glass)
Furniture Market, By Application:
- Residential
- Kitchen & Dining
- Bedroom
- Living Room
- Outdoor
- Commercial
- Hotels
- Offices
- Educational institutes
- Hospitality
Furniture Market, By Sales Channel:
- Online
- Offline
Furniture Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Global Furniture Market Key Players
The key players operating the furniture market includes Century Furniture LLC, Ashley Furniture Industries Inc., Raymours Furniture Company Inc., Herman Miller Inc., Masco Corporation, Okamura Corporation, & J. G. Stickley, Inc., Steelcase Inc., Williams-Sonoma Inc., and Godrej & Boyce Manufacturing Company Ltd. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2017, INTER IKEA GROUP acquired TaskRabbit. An on-demand services Platform Company that connects consumers with workers that handle everyday needs, like home improvements and furniture assembly.
Global Furniture Market Company Profile
- Century Furniture LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ashley Furniture Industries Inc.
- Herman Miller Inc.
- Masco Corporation
- & J. G. Stickley, Inc.
- Okamura Corporation
- Steelcase Inc.
- Raymours Furniture Company Inc.
- Williams-Sonoma Inc.
- Godrej & Boyce Manufacturing Company Ltd.
“*” marked represents similar segmentation in other categories in the respective section
Global Furniture Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Furniture Strategies
- Key Questions this Study will Answer
- Market Snippet, By Material
- Market Snippet, By Application
- Market Snippet, By Sales channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Material, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Wood
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Plastic
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Metal
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Leather
- Glass
- Overview
- Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Residential
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Kitchen & Dining
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Bedroom
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Living Room
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Outdoor
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Commercial
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Hotels
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Office
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Educational institutes
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Hospitality
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Overview
- Global Market, By Region, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Material, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Sales Channel, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Material, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Sales Channel, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Material, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Sales Channel, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Material, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Sales Channel, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Material, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Sales Channel, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Century Furniture LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Ashley Furniture Industries Inc.
- Herman Miller Inc.
- Masco Corporation
- & J. G. Stickley, Inc.
- Okamura Corporation
- Steelcase Inc.
- Raymours Furniture Company Inc.
- Williams-Sonoma Inc.
- Godrej & Boyce Manufacturing Company Ltd.
- Century Furniture LLC
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The furniture market report is segmented into material, application, sales channel, and region.
Factors driving market growth include changing lifestyles, urbanization, the influence of interior design trends, and the demand for multifunctional and space-saving furniture.
Global restraints may include economic factors affecting consumer spending, challenges in sustainable sourcing of materials, and the impact of global events on manufacturing and supply chains.
The report covers regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is estimated to dominate the Furniture Market, witnessing a significantly high revenue share over the forecast period.
The key players operating the global furniture market includes Century Furniture LLC, Ashley Furniture Industries Inc., Raymours Furniture Company Inc., Herman Miller Inc., Masco Corporation, Okamura Corporation, & J. G. Stickley, Inc., Steelcase Inc., Williams-Sonoma Inc., and Godrej & Boyce Manufacturing Company Ltd.