Home Furniture Market Size (2024 - 2029)

The home furniture market is experiencing significant growth, driven by factors such as the expanding residential construction sector, increasing urbanization, and rising disposable incomes. The market's expansion is further supported by the popularity of eco-friendly furniture and changes in consumer lifestyles. Ready-to-assemble furniture is gaining traction due to its affordability and convenience, while e-commerce platforms are enhancing market accessibility. Mergers, acquisitions, and new product lines are strategic approaches employed by industry players to capture a larger market share.

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Market Size of Home Furniture Industry

Home Furniture Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 641.80 Billion
Market Size (2029) USD 830.49 Billion
CAGR (2024 - 2029) 5.29 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Home Furniture Market Major Players

*Disclaimer: Major Players sorted in no particular order

Home Furniture Market Analysis

The Home Furniture Market size is estimated at USD 641.80 billion in 2024, and is expected to reach USD 830.49 billion by 2029, growing at a CAGR of 5.29% during the forecast period (2024-2029).

One of the key drivers of the home furniture market is the growing residential construction market during the study period. The growing popularity of eco-friendly furniture and changes in lifestyles are driving the growth of the market. Players in the United States home furniture industry use mergers and acquisitions and the creation of new product lines as ways to grow their businesses.

There’s a strong demand for furniture due to a growing population. The vast population base and rising disposable income of consumers are bolstering the development of the furniture industry as customers are willing to spend more on floor coverings and furniture. Urbanization, increasing real estate development, strong growth in GDP, and economic stability in the country are some of the other major factors attributing to the growth of the furniture industry.

Ready-to-assemble (RTA) furniture is becoming increasingly popular among homeowners and renters because of its lower costs and compact designs. RTA furniture, also known as flat-pack furniture, is not assembled by the manufacturer and is available in parts with instructions on how to assemble it. E-commerce is also fueling the market's 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.

Home Furniture Industry Segmentation

"Home furnishings are items placed in a room to make it comfortable and appealing. They include all the movable objects, such as furniture, curtains, carpets, and décor items that complement the room's design. Home furnishings are an essential part of interior design, and they can give a room a unique personality. A complete background analysis of the global home furniture market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report.

The home furniture market is segmented by product, distribution channel, and geography. By product, the market is sub-segmented into living room and dining room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, and plastic and other furniture. By distribution channel, the market is sub-segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels and geography, the market is sub-segmented into North America, South America, Europe, Asia-Pacific, and the Middle-East and Africa. The report offers market size and forecasts for the home furniture market in value (USD) for all the above segments."

By Product
Living Room and Dining Room Furniture
Bedroom Furniture
Kitchen Furniture
Lamps and Lighting Furniture
Plastic and Other Furniture
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Retail Stores
Other Distribution Channels
By Geography
North America
United States
Canada
Rest of North America
South America
Argentina
Brazil
Colombia
Rest of South America
Europe
UK
Germany
France
Italy
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Singapore
South Korea
Rest of Asia-Pacific
Middle East & Africa
Saudi Arabia
Egypt
UAE
Rest of Middle East and Africa
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Home Furniture Market Size Summary

The home furniture market is poised for significant growth, driven by factors such as the expanding residential construction sector and the increasing popularity of eco-friendly furniture. Changes in consumer lifestyles and rising disposable incomes are further propelling the market, as more individuals are willing to invest in high-quality furniture and floor coverings. Urbanization, real estate development, and economic stability also play crucial roles in the market's expansion. The demand for ready-to-assemble (RTA) furniture is on the rise due to its cost-effectiveness and compact design, while e-commerce platforms like Amazon and Wayfair are enhancing market accessibility by offering a diverse range of furniture products.

Living room furniture stands out as a major revenue generator within the industry, as it is often the focal point of homes, prompting consumers to invest in stylish and comfortable pieces. The kitchen and dining furniture segment is also substantial, influenced by new home construction, renovations, and evolving design trends. This segment's growth is supported by various distribution channels, including online retailers, which have expanded consumer purchasing options. The market is highly competitive, with major players like Ikea, La-Z-Boy, and Ashley Furniture Industries Inc. dominating, while mid-size and smaller companies are increasing their presence through innovation and new market opportunities.

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Home Furniture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Changing Consumer Lifestyles and Preferences

      2. 1.2.2 Rising Disposable Income

    3. 1.3 Market Restraints

      1. 1.3.1 High Transportation and Logistics Costs

      2. 1.3.2 Price Volatility of Raw Materials

    4. 1.4 Insights on Various Regulatory Trends Shaping the Market

    5. 1.5 Insights on impact of technology in the Market

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Buyers

      2. 1.6.2 Bargaining Power of Suppliers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of High Inflation on Credit Card Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Living Room and Dining Room Furniture

      2. 2.1.2 Bedroom Furniture

      3. 2.1.3 Kitchen Furniture

      4. 2.1.4 Lamps and Lighting Furniture

      5. 2.1.5 Plastic and Other Furniture

    2. 2.2 By Distribution Channel

      1. 2.2.1 Supermarkets/Hypermarkets

      2. 2.2.2 Specialty Stores

      3. 2.2.3 Online Retail Stores

      4. 2.2.4 Other Distribution Channels

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 South America

        1. 2.3.2.1 Argentina

        2. 2.3.2.2 Brazil

        3. 2.3.2.3 Colombia

        4. 2.3.2.4 Rest of South America

      3. 2.3.3 Europe

        1. 2.3.3.1 UK

        2. 2.3.3.2 Germany

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Netherlands

        6. 2.3.3.6 Rest of Europe

      4. 2.3.4 Asia-Pacific

        1. 2.3.4.1 China

        2. 2.3.4.2 Japan

        3. 2.3.4.3 India

        4. 2.3.4.4 Australia

        5. 2.3.4.5 Singapore

        6. 2.3.4.6 South Korea

        7. 2.3.4.7 Rest of Asia-Pacific

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Egypt

        3. 2.3.5.3 UAE

        4. 2.3.5.4 Rest of Middle East and Africa

Home Furniture Market Size FAQs

The Home Furniture Market size is expected to reach USD 641.80 billion in 2024 and grow at a CAGR of 5.29% to reach USD 830.49 billion by 2029.

In 2024, the Home Furniture Market size is expected to reach USD 641.80 billion.

Home Furniture Market Report Snapshots

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