Market Size of North America Home Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Home Furniture Market Analysis
The coronavirus outbreak had a significant impact on the North American furniture industry. As a result of the lockdown, there is now a new trend of working from home. During the outbreak, there was a boom in the buying of home office furniture. Customers are increasingly buying furniture online to upgrade their houses to fit the needs of modern life. According to data from Emarsys and GoodData, online orders for all things, from necessities to home maintenance and furnishings, have increased by more than 80% in North America since January 2020.
Some of the primary reasons driving the growth of home furniture goods in the North America include the rising residential building industry in nations like the United States and Canada. Construction and sales of new homes are expected to surge in key Canadian cities, particularly in the high-rise sector. In addition, an increase in the number of single-person families is increasing demand for home furnishings such as living, bedroom, and kitchen furniture.
DIY furniture is also becoming increasingly popular among millennials, and the availability of such items is projected to boost furniture sales through online retail outlets. Consumers' increasing environmental consciousness is having a positive influence on their purchasing decisions, and sustainable furniture is becoming more popular in the region. Furthermore, there is a tremendous increase in the development of green homes in the United States, which is paving the way for eco-friendly furniture goods. Furthermore, the rising migration of manufacturers in the region with handcrafted furniture goods developed in the U.S. American Eco Furniture, LLC is resulting in the advancement of the furniture sector in North America.
