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The COVID-19 pandemic has forced millions of Americans to work from home as a result of social norms that discourage remote labour. Working professionals without access to comfortable furniture find working from home (WFH) to be stressful. WFH has become the norm and is anticipated to remain so for the foreseeable future. Due to people's desire to study and work from home, as well as their desire for hygienic furniture during the COVID-19 pandemic, sales of sustainable furniture have surged.
The demand for sustainable furniture is increasing primarily as a result of consumers growing knowledge of the value of sustainable living. This entails using less fuel and recycling scrap wood. For instance, Herman Miller has committed to zero waste, 50% more local renewable energy (50,000 MWh), 100% DfE-approved products, and 125,000 tonnes of product returns annually.
Additionally, ecommerce businesses are expanding to cut down on the need for inventory and rental space. Amazon.com and Wayfair are two of the most well-known e-commerce sites in the US for furniture. The demand for sustainable furniture increased as a result of the increasing opportunities for furniture sales via online channels, which compelled online retailers to improve their purchasing procedures in terms of security and dependability. A few of the policies that entice customers to shop online include secure transactions, cash-on-delivery options, prompt return policies, and integrated and centralised customer service.
Scope of the Report
Sustainable furniture, is an emerging concept, and largely includes furniture made from eco-friendly or recycled materials that are sustainably sourced. Some of the prevalent raw materials used for green furniture include recycled textiles, oak, birch, hemp, wood, and bamboo. A complete analysis of the US Sustainable Furniture Market, which includes an assessment of the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. The US Sustainable Furniture Market is Segmented By Application (Home Furniture, Office Furniture, Hospitality Furniture, Other Furniture), By Material (Wood, Bamboo, PET, Others), By Distribution Channel (Offline, Online).
|By Distribution Channel|
Key Market Trends
Residential Sector Driving the Market
The US market for sustainable furniture was dominated by residential applications. The adoption of sustainable furniture in residential areas has been significantly affected by growing consumer knowledge of sustainable furniture manufacture. The demand for sustainable furniture for interior decorating is also being driven by consumer preferences toward avoiding single-use plastic.
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Rising Consumer Expenditure on Furniture Products is Driving the Market
With the increasing number of consumers shifting their preference towards 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 has a 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.
The report covers major international and local players operating in the US sustainable 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.
- 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.
- On February 15th 2021, Ashley opened a new 15,000 sq. ft. showroom in Avenida Patria, Guadalajara, Jalisco, Mexico. The new store was owned and operated by the Hallatt family, this was their first Ashley furniture home store and was also the first home store in the state of Jalisco.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Latest Trends and Technological Advancements in the Industry
4.7 Insights on Government Policies and Industry Regulatory Framework/Standards
4.8 Insights on Industry Certifications
4.9 Consumer Behavior Analysis and Preferences
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Home Furniture
5.1.2 Office Furniture
5.1.3 Hospitality Furniture
5.1.4 Other Furniture
5.2 By Material
5.3 By Distribution Channel
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Inter IKEA Systems B.V.
6.2.2 Wayfair Inc.
6.2.3 Ashley Furniture
6.2.4 Bed Bath & Beyond Inc.
6.2.5 Williams-Sonoma Inc.
6.2.7 Herman Miller Inc.
6.2.8 HNI Corporation
6.2.10 Global Furniture Group
6.2.11 Kimball International Inc.
6.2.12 Okamura Corp.
6.2.13 Interior Systems, Inc*
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The US Sustainable Furniture Market market is studied from 2018 - 2027.
What is the growth rate of US Sustainable Furniture Market?
The US Sustainable Furniture Market is growing at a CAGR of >5% over the next 5 years.
Who are the key players in US Sustainable Furniture Market?
Ashley Furniture, Inter Ikea Systems B.V., Bed Bath and Beyond Inc., Williams Sonoma Inc., Way Fair Inc., Target Corporation are the major companies operating in US Sustainable Furniture Market.