Mexico Home Furniture Market Size (2024 - 2029)

Market Overview

The Mexico Home Furniture Market size is estimated at USD 3.36 billion in 2024, and is expected to reach USD 4.53 billion by 2029, growing at a CAGR of 6.13% during the forecast period (2024-2029).

The Mexican economy's activity in this sector is among the most dynamic in the country's manufacturing industry, growing 10% on average annually, according to statistics from the Mexican Association of Suppliers of the Wood and Furniture Industry (AMPIMM). The key factors driving the home furniture market growth include increasing disposable income levels, rapid urbanization, technological innovation, changing consumer preferences, and a robust Mexican housing market.

The rapid spread of COVID-19 worldwide led to serious challenges for most suppliers of manufactured products, including home furniture in Mexico, in the form of supply chain disruptions. Mexico's furniture companies, large and small, domestic and global, all experienced pain as the COVID-19 pandemic rattled supply chains. Many professionals are planning major shifts in their supply chain strategies, including supply base expansions and increased inventory levels. For instance, in 2021 IKEA opened its first physical store in Mexico. After opening its first store in Mexico, the firm is planning to further expansion in the country with an investment of about USD100 million.

Mexico's furniture industry is extremely varied and dynamic, ranging from small makers of traditional wood furniture to mega corporations worldwide producing contemporary designs. The furniture manufacturing industry in Mexico comprises 675 companies and more than a 52,000-strong workforce. Companies vary from international brands like La-Z-Boy to companies like Quetzal that focus on the domestic market.

Mexico is the fourth largest exporter behind China, Vietnam, and Canada. It is the world's fourth-largest exporter of height-adjustable rotating seats and the eighth-largest wooden chairs and seats. Nearshoring became an increasingly important strategy for companies looking to reduce shipping costs or take advantage of trade agreement benefits available between companies in their target sales region.

Scope of the Report

Household furniture means all movable articles or apparatus for equipping a residence, including, but not limited to, chairs, tables, sofas, and mattresses. Mexico's Home Furniture Market is segmented by material (wood, metal, plastic, and other materials), type (kitchen furniture, living-room and dining-room furniture, bedroom furniture, and other furniture), distribution channel (supermarkets & hypermarkets, specialty stores, online stores, and other distribution channels). The report offers market sizes and forecasts for the Home Furniture market in Mexico in revenue (USD) for all the above segments.