Market Size of Furniture and Home Furnishing Store Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 518.21 Billion |
| Market Size (2029) | USD 631.40 Billion |
| CAGR (2024 - 2029) | 4.15 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Furniture & Home Furnishing Store Market Analysis
The Furniture and Home Furnishing Store Market size is estimated at USD 518.21 billion in 2024, and is expected to reach USD 631.40 billion by 2029, growing at a CAGR of 4.15% during the forecast period (2024-2029).
Over the years, trends and new ideas have come and gone in the furniture and home furnishings industry.With increasing housing prices and a shortage of space, furniture and furnishings are being modified to make it possible to live in a smaller space. Through technology and new ideas, sofas, beds, and other types of furniture are getting better and better.
With the start of COVID-19, people were limited in what they could do in their homes, and people around the world were spending more and more time at home. This made people change the way they decorated and furnished their homes. Smart home products observed a continuous increase in purchases as consumers spent more time at home. With a growing percentage of the population working from home, multi-purpose furniture is in high demand, serving a variety of functions. This leads to furniture stores increasing their variety of products.
Over the upcoming period and in recovery from COVID-19, furniture providers started providing customers with a variety of furniture products based on their needs. Brands and stores are adopting the latest technologies to capitalize on and grow their digital marketplaces. For increasing sales and revenue, stores are providing customers with fast and free shipping, financing, a personalized experience, cash and carry, and other options.
