Furniture Market Trends

Statistics for the 2023 & 2024 Furniture market trends, created by Mordor Intelligence™ Industry Reports. Furniture trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Furniture Industry

Rising E-Commerce Due to Smartphones Penetration is Driving the Market

The ubiquity of smartphones has resulted in cheaper internet costs, and the simple availability of low-cost handsets has resulted in an exponential increase in online buyers worldwide. Because of the global expansion of internet penetration, many consumers can access the online channel. Furthermore, several businesses offer "designing your interior sitting at home" services using online interactive room designer software. These factors will likely drive furniture sales via the e-commerce industry during the projection period.

Additionally, as consumers furnish their homes to increase their comfort level and lead a luxurious lifestyle, the demand for furniture has grown overall among urban households. This growth results from easier access to financing for consumer durables and increased awareness of international furniture products. During the projection period, demand for furniture is anticipated to increase due to all these factors' favorable effects on the furniture industry.

Furniture Market: Furniture E-Commerce Penetration Rate in the United States,  2019-2022

Asia-Pacific Region is Fastest Growing in the Market

The Asia-Pacific region dominates the furniture market, which is attributable to the large number of wood furniture producers in nations like China and India. Due to its large population and expanding residential construction, the Asia-Pacific area is expanding quickly. Customers have started making purchases of furniture and home decor in China as the country's standard of living rises. The region's furniture market has grown due to rising consumer spending power. The region's furniture market is projected to increase due to the major players in the industry launching their exclusive online platforms and forming alliances with e-commerce platforms to expand their distribution networks. The rivalry in the nation and the area became more complicated with IKEA's arrival in the Indian subcontinent, which aided the company in bolstering its global position. Additionally, the growing adoption of premium-quality home décor items among the population in countries such as India and Australia further drives the furniture market growth in the region.

Furniture Market - Forecast Growth Rate, By Region (2023-2026)

Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)