Furniture and Home Furnishing Store Market Trends

Statistics for the 2023 & 2024 Furniture and Home Furnishing Store market trends, created by Mordor Intelligence™ Industry Reports. Furniture and Home Furnishing Store trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Furniture and Home Furnishing Store Industry

Increasing popularity of DIY furniture and home decor

The DIY furniture market is expanding due to changes in lifestyle and an increase in modern home renovations. The availability of contemporary home renovations encourages people to build outdoor gardens and galleries in their houses, for which they purchase do-it-yourself outdoor furniture to improve the aesthetic appeal of their houses. Another factor fuelling the DIY furniture market's expansion is the world's rapid urbanization and globalization. 

The rising standard of living is a result of increased urbanization. The demand for creative do-it-yourself furniture products may rise quickly because of technological advancements. The factors anticipated to propel market growth include the expansion of Furniture Stores with attractive products.

GDP growth

North America is Witnessing a Surge in Demand for Home Furnishings

Increasing household numbers are among the factors contributing to the Noth America real estate industry's growth. Consequently, the region market for furniture for homes is seeing growth. Additionally accelerating the real estate industry's growth is the region growing immigrant population. Home furnishings are becoming more and more in demand as North America residential construction picks up steam and the country's residential activity rises. This is especially true for newly purchased homes. It is anticipated that this will increase market demand. 

The United States Census Bureau estimates that there were almost 139 million household units in the previous year. In current year, there were approximately 1.0 million new housing units added to the single-family and multifamily housing stock. It is projected that through forecasted period, the average annual number of new households will be approximately 1.22 million.  

In USD Bn

Furniture and Home Furnishing Store Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)