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

The Furniture Market is Segmented by Product (Living Room and Dining Room Furniture, Bedroom Furniture, Kitchen Furniture, Lamps and Lighting Furniture, and Plastic and Other Furniture), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Retail Stores, and Other Distribution Channels), and Geography (North America, South America, Europe, Asia-Pacific, and the Middle-East and Africa). The Market Size and Forecasts for the Home Furniture Market in Value (USD) for all the Above Segments.

Home Furniture Market Size

Home Furniture Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 641.80 Billion
Market Size (2029) USD 830.49 Billion
CAGR (2024 - 2029) 5.29 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Home Furniture Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Home Furniture Market Analysis

The Home Furniture Market size is estimated at USD 641.80 billion in 2024, and is expected to reach USD 830.49 billion by 2029, growing at a CAGR of 5.29% during the forecast period (2024-2029).

One of the key drivers of the home furniture market is the growing residential construction market during the study period. The growing popularity of eco-friendly furniture and changes in lifestyles are driving the growth of the market. Players in the United States home furniture industry use mergers and acquisitions and the creation of new product lines as ways to grow their businesses.

There’s a strong demand for furniture due to a growing population. The vast population base and rising disposable income of consumers are bolstering the development of the furniture industry as customers are willing to spend more on floor coverings and furniture. Urbanization, increasing real estate development, strong growth in GDP, and economic stability in the country are some of the other major factors attributing to the growth of the furniture industry.

Ready-to-assemble (RTA) furniture is becoming increasingly popular among homeowners and renters because of its lower costs and compact designs. RTA furniture, also known as flat-pack furniture, is not assembled by the manufacturer and is available in parts with instructions on how to assemble it. E-commerce is also fueling the market's growth, and there are many e-commerce giants such as Amazon, Wayfair, and Home Depot that offer a wide range of furniture products from many key brands as part of their product portfolios.

Home Furniture Market Trends

Living Room Furniture is Generating the Majority Revenue

Living room furniture is a significant contributor to the overall revenue generated in the furniture industry. The living room is often considered the focal point of a home, and people typically invest in high-quality and aesthetically appealing furniture for this space. Living room furniture includes essential pieces such as sofas, couches, coffee tables, and entertainment centers that are larger and more expensive than other furniture items. These key pieces have a higher price point, contributing to a larger revenue share. The living room is often seen as a showcase where people express their style and preferences through furniture and decor. 

Consumers are willing to invest in visually appealing and trendy living room furniture to create an inviting, well-designed space. This emphasis on aesthetics contributes to higher-priced furniture options and revenue generation. Living room furniture is in high demand as it is a central gathering space for families and guests. People spend significant time in the living room, engaging in activities like socializing, watching TV, and relaxing. The demand for comfortable and stylish living room furniture drives sales and revenue.

Home Furniture Market: Furniture Revenue by Segment in Billion USD, 2022

United States is Generating Majority Revenue for the Segment Kitchen and Dining Furniture

The kitchen and dining furniture market in the United States is a significant segment within the overall furniture industry. It includes furniture items specifically designed for kitchen and dining spaces, such as dining tables, chairs, bar stools, kitchen islands, buffets, and cabinets.The kitchen and dining furniture market in the United States is substantial, reflecting the importance of these spaces in households. The market size is influenced by factors such as population size, consumer preferences, disposable income levels, and overall economic conditions.The demand for kitchen and dining furniture is driven by several factors, including new home construction, home renovations, changing consumer lifestyles, and evolving design trends. Consumers often seek furniture that combines functionality, durability, and aesthetic appeal.Kitchen and dining furniture is sold through various distribution channels, including furniture stores, department stores, specialty stores, online retailers, and direct-to-consumer brands. The growth of e-commerce has provided consumers with more options for purchasing furniture online, contributing to the overall revenue of the market.

Home Furniture Market: Revenue of the Kitchen and Dining Furniture by Country in Million USD, 2022

Home Furniture Industry Overview

The report covers major international players operating in the global home furniture market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. The market is highly competitive and fragmented, with a mix of large multinational companies, regional players, and small-scale manufacturers.

Key players in the global home furniture market often focus on product innovation, quality, branding, and customer experience to gain a competitive edge. Online and brick-and-mortar retailers play a significant role in distributing furniture products to consumers. The List of major players are Ikea, La-Z-Boy, Godrej Interio, Bernhardt, and Ashley Furniture Industries Inc.

Home Furniture Market Leaders

  1. Ikea

  2. La-Z-Boy

  3. Godrej Interio

  4. Bernhardt

  5. Ashley Furniture Industries Inc.

*Disclaimer: Major Players sorted in no particular order

Home Furniture Market Concentration
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Home Furniture Market News

  • April 2023: Ashley Furniture HomeStore in Phnom Penh, Cambodia, celebrated the Grand Opening and Ribbon Cutting of its new 356.78 sq. m. showroom located at Chip Mong 271 Mega Mall - 2nd-floor Unit 203, 204, 205 Street 271, Prek Ta Nou Village, Sangkat Chak Angrer Leu, Khan Mean Chey.
  • November 2022: Godrej Interio, a business unit of Godrej and Boyce, plans to annually open 100 stores over the next three to four years. A touch-and-feel experience is essential for the furniture business, and the company intends to have a larger footprint.

Home Furniture Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Changing Consumer Lifestyles and Preferences

      2. 4.2.2 Rising Disposable Income

    3. 4.3 Market Restraints

      1. 4.3.1 High Transportation and Logistics Costs

      2. 4.3.2 Price Volatility of Raw Materials

    4. 4.4 Insights on Various Regulatory Trends Shaping the Market

    5. 4.5 Insights on impact of technology in the Market

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Bargaining Power of Buyers

      2. 4.6.2 Bargaining Power of Suppliers

      3. 4.6.3 Threat of New Entrants

      4. 4.6.4 Threat of Substitutes

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Impact of High Inflation on Credit Card Market

    8. 4.8 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Living Room and Dining Room Furniture

      2. 5.1.2 Bedroom Furniture

      3. 5.1.3 Kitchen Furniture

      4. 5.1.4 Lamps and Lighting Furniture

      5. 5.1.5 Plastic and Other Furniture

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 South America

        1. 5.3.2.1 Argentina

        2. 5.3.2.2 Brazil

        3. 5.3.2.3 Colombia

        4. 5.3.2.4 Rest of South America

      3. 5.3.3 Europe

        1. 5.3.3.1 UK

        2. 5.3.3.2 Germany

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Netherlands

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 Asia-Pacific

        1. 5.3.4.1 China

        2. 5.3.4.2 Japan

        3. 5.3.4.3 India

        4. 5.3.4.4 Australia

        5. 5.3.4.5 Singapore

        6. 5.3.4.6 South Korea

        7. 5.3.4.7 Rest of Asia-Pacific

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 Egypt

        3. 5.3.5.3 UAE

        4. 5.3.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Ikea

      2. 6.2.2 Ashley Furniture Industries Inc.

      3. 6.2.3 Heritage Home Group

      4. 6.2.4 La-Z-Boy

      5. 6.2.5 Godrej Interio

      6. 6.2.6 Stanley Furniture

      7. 6.2.7 Ethan Allen

      8. 6.2.8 Bernhardt

      9. 6.2.9 Flexsteel

      10. 6.2.10 Nitori Co. Ltd*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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Home Furniture Industry Segmentation

"Home furnishings are items placed in a room to make it comfortable and appealing. They include all the movable objects, such as furniture, curtains, carpets, and décor items that complement the room's design. Home furnishings are an essential part of interior design, and they can give a room a unique personality. A complete background analysis of the global home furniture market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report.

The home furniture market is segmented by product, distribution channel, and geography. By product, the market is sub-segmented into living room and dining room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, and plastic and other furniture. By distribution channel, the market is sub-segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels and geography, the market is sub-segmented into North America, South America, Europe, Asia-Pacific, and the Middle-East and Africa. The report offers market size and forecasts for the home furniture market in value (USD) for all the above segments."

By Product
Living Room and Dining Room Furniture
Bedroom Furniture
Kitchen Furniture
Lamps and Lighting Furniture
Plastic and Other Furniture
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Retail Stores
Other Distribution Channels
By Geography
North America
United States
Canada
Rest of North America
South America
Argentina
Brazil
Colombia
Rest of South America
Europe
UK
Germany
France
Italy
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Singapore
South Korea
Rest of Asia-Pacific
Middle East & Africa
Saudi Arabia
Egypt
UAE
Rest of Middle East and Africa
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Home Furniture Market Research FAQs

The Home Furniture Market size is expected to reach USD 641.80 billion in 2024 and grow at a CAGR of 5.29% to reach USD 830.49 billion by 2029.

In 2024, the Home Furniture Market size is expected to reach USD 641.80 billion.

Ikea, La-Z-Boy, Godrej Interio, Bernhardt and Ashley Furniture Industries Inc. are the major companies operating in the Home Furniture Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Home Furniture Market.

In 2023, the Home Furniture Market size was estimated at USD 607.85 billion. The report covers the Home Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Home Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The emerging market segments within the Home Furniture Market are a) Customizable furniture options b) Augmented Reality (AR) furniture shopping experiences c) Subscription-based furniture services

The innovative materials driving advancements in the Home Furniture Market are a) Bio-based polymers b) Composite materials c) 3D-printed furniture components

Home Furniture Industry Report

The home furniture market is set for significant expansion, fueled by evolving consumer preferences for innovative and sustainable products across diverse regions. Home furnishings market dominated by various product types such as beds, mattresses, sofas, armchairs, and space-efficient storage solutions, largely driven by the trend towards smaller living spaces. Materials such as wood, metal, and glass are favored for their durability and aesthetic appeal, with wooden furniture being particularly prized for its robustness and style. The move towards eco-friendly furniture is gaining traction among home furnishing companies, responding to growing environmental concerns. Additionally, the home furniture industry is increasingly shaped by e-commerce platforms, which offer convenience and a wide array of options, catering to tech-savvy consumers through smart furniture integrations that enhance lifestyle and home functionality. This vibrant sector continues to innovate, aiming to meet the dynamic needs and preferences of consumers. For detailed statistics on home furniture market share, size, revenue growth rate, and a forecast outlook, including a historical overview, access a free report PDF download from Mordor Intelligence™ Industry Reports.

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