United States Home Furniture Market - Growth, Trends, COVID -19 Impact, and Forecasts (2022 - 2027)

The United States Home Furniture Market is Segmented by Product (Kitchen Furniture, Living and Bedroom Furniture, Bathroom Furniture, Outdoor Furniture, and Other Furniture) and Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online Stores, and Other Distribution Channels). The report offers the market size and forecasts in value (USD billion) for all the above segments.

Market Snapshot

United States Home Furniture Market
Study Period: 2017-2026
Base Year: 2021
CAGR: >3 %
United States Home Furniture Market Size

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Market Overview

The United States home furniture market is anticipated to register a CAGR of 3% during the forecast period, 2021-2026.

One of the key drivers of the market is the improving residential construction market during the study period. Although the construction market is under pressure in the majority of locations in the country due to the COVID-19 pandemic, the situation is expected to get back to the pre-COVID-19 level depending on the changing market dynamics. The growing popularity of eco-friendly furniture and changes in lifestyles are driving the growth of the market. Strategies adopted by players in the United States home furniture industry include expansions through mergers and acquisitions and the development of new product ranges. However, the market is facing some challenges such as shifting consumer trends and expectations, rising material costs, and skilled labor shortage.

Ready-to-assemble (RTA) furniture is becoming increasingly popular among homeowners and renters because of the lower costs and compact designs. RTA furniture, also known as flat-pack furniture, are not assembled by the manufacturer and are available in parts, with instructions on how to assemble them. However, with technological advancements and product innovations, mid-size and smaller companies in the country are increasing their market presence by securing new contracts and tapping into new markets. E-commerce is also fueling the market 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.

Scope of the Report

Home furniture refers to furniture products used for residential purposes, such as dining tables, sofas, beds, chairs, bassinets, bookcases, chairs, TV stands, children's furniture, and other furniture products. The report on the United States home furniture market provides a comprehensive evaluation of the market, with an analysis of the segments in the market. Moreover, the report also provides the competitive profile of the key manufacturers, along with their product offerings and revenue analysis. The market is segmented by product (kitchen furniture, living and bedroom furniture, bathroom furniture, outdoor furniture, and other furniture) and distribution channel (home centers, flagship stores, specialty stores, online stores, and other distribution channels). The report offers the market size and forecasts in value (USD billion) for all the above segments.

By Product
Kitchen Furniture
Living and Bedroom Furniture
Bathroom Furniture
Outdoor Furniture
Other Furniture
By Distribution Channel
Home Centers
Flagship Stores
Specialty Stores
Online Stores
Other Distribution Channels

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Key Market Trends

Growing Sales of Bedroom Furniture are Driving the Market

The rising demand for multifunctional furniture is expected to bolster the growth prospects of the bedroom segment. The real estate prices have plummeted significantly and have led to a considerable reduction in house sizes. As rooms are getting smaller, customers are increasingly looking for compact and easily movable furniture to allow for efficient use of the available space. To cater to such requirements, the vendor companies have introduced multifunctional furniture with storage facilities. Beds that have included additional storage spaces are gaining more popularity in the country. There is also a rising demand for convertible furniture in the country, which have functionalities beyond traditional furniture use.

United States Home Furniture Market Share

Rising Consumer Expenditure on Furniture Products is Driving the Market

With the increasing number of consumers shifting their preference toward quality and stylish furniture products due to higher disposable income and better lifestyle requirements, the furniture market in the United States is expected to witness stronger growth in terms of domestic furniture sales and international furniture exports. The average annual expenditure on furniture per consumer unit increased from USD 355 in 2010 to USD 5200 in 2019, which reflects the healthy growth of the market. The trend is expected to continue in the forecast period, overcoming the COVID-19 adverse effect on the country's economy.

 United States Home Furniture Industry

Competitive Landscape

The report covers the major international players operating in the United States home furniture market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.

Recent Developments

In April 2021, Wayfair Inc., the leading home furniture chain, planned to open three new engineering sites in the San Francisco Bay Area of California, Austin, Texas, and Toronto in Ontario, Canada. The company is planning to hire approximately 1,000 technologists to its world-class engineering organization globally over the next year.

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 INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints/Challenges

    4. 4.4 Market Opportunities

    5. 4.5 Insights into Technological Innovations in the Market

    6. 4.6 Trends Influencing the United States Home Furniture Market

    7. 4.7 Insights into the Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Kitchen Furniture

      2. 5.1.2 Living and Bedroom Furniture

      3. 5.1.3 Bathroom Furniture

      4. 5.1.4 Outdoor Furniture

      5. 5.1.5 Other Furniture

    2. 5.2 By Distribution Channel

      1. 5.2.1 Home Centers

      2. 5.2.2 Flagship Stores

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Online Stores

      5. 5.2.5 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Retailers

        1. 6.2.1.1 Pier 1 Imports Inc.

        2. 6.2.1.2 Bed Bath & Beyond Inc.

        3. 6.2.1.3 Rooms to Go Inc.

        4. 6.2.1.4 Crate and Barrel

        5. 6.2.1.5 Wayfair Inc.*

      2. 6.2.2 Manufacturers

        1. 6.2.2.1 Ashley Furniture Store

        2. 6.2.2.2 American Signature Inc.

        3. 6.2.2.3 Williams-Sonoma Inc.

        4. 6.2.2.4 La-Z-Boy

        5. 6.2.2.5 Inter IKEA Holding SA*

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE UNITED STATES HOME FURNITURE MARKET

  8. 8. DISCLAIMER

*List not Exhaustive

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Frequently Asked Questions

The United States Home Furniture Market market is studied from 2017 - 2026.

The United States Home Furniture Market is growing at a CAGR of >3% over the next 5 years.

Ikea, Bed Bath & Beyond Inc., Williams-Sonoma, Inc., Target Corporation, Wayfair Inc. are the major companies operating in United States Home Furniture Market.

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