Market Size of Home Furniture Industry
| 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
*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.
