United States Home Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 90.33 Billion |
| Market Size (2029) | USD 106.41 Billion |
| CAGR (2024 - 2029) | 3.16 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Home Furniture Market Analysis
The United States Home Furniture Market size is estimated at USD 90.33 billion in 2024, and is expected to reach USD 106.41 billion by 2029, at a CAGR of greater than 3.16% during the forecast period (2024-2029).
One of the key drivers of the market is the growing 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. Due to the pandemic and lockdown, the US home furniture market saw a tremendous growth in online orders. The COVID-19 pandemic that occurred in the early days of 2020 drastically altered the furniture industry. The disruption in the supply chain and the temporary ban on global trade have had a significant impact on countries that rely heavily on imports for furniture. The COVID-19 pandemic also showed how important it is for this industry to rely less on imports and improve digitalization and automation.
The growing popularity of eco-friendly furniture and changes in lifestyles are driving the growth of the market. Players in the U.S. home furniture industry use mergers and acquisitions and creation of new product lines as ways to grow their businesses.However, the market is facing some challenges, such as shifting consumer trends and expectations, rising material costs, and a skilled labor shortage.
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.
United States Home Furniture Market Trends
Growing Sales of Bedroom Furniture is Driving the Market
The rising demand for multifunctional furniture is expected to bolster the growth prospects of the bedroom segment. Real estate prices have plummeted significantly, leading 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 with additional storage spaces are becoming more popular in the country. There is also a rising demand for convertible furniture in the country, which has functionalities beyond traditional furniture use.
Rising Consumer Expenditure on Furniture Products is Driving the Market
With more people choosing stylish and high-quality furniture because they have more money and a better way of life, the US furniture market is likely to see stronger growth in both domestic sales and exports. The average annual expenditure on furniture per consumer unit increased from USD 355 in 2010 to USD 715.6 in 2021, which reflects the healthy growth of the market. The trend is likely to keep going, making up for the damage that COVID-19 did to the country's economy.
United States Furniture Industry Overview
The report examines the major international players in the US home furniture market. In terms of market share, a few of the major players currently dominate the market. However, with technological advancements and product innovations, midsize to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. Companies such as IKEA, Bed Bath & Beyond Inc., Williams-Sonoma, Inc., Target Corporation, and Wayfair Inc., among others have been profiled in the report.
United States Home Furniture Market Leaders
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Ikea
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Bed Bath & Beyond Inc.
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Williams-Sonoma, Inc.
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Target Corporation
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Wayfair Inc.
*Disclaimer: Major Players sorted in no particular order
United States Home Furniture Market News
- April 2021: Wayfair Inc., the leading home furniture chain, opened 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 for its world-class engineering organization globally over the next 2 years.
- April 2022: The TJX Companies, Inc. announced New Global Environmental Goals, including a plan to achieve net zero emissions in its operations by 2040.
United States Furniture Market Report - Table of Contents
1. INTRODUCTION
- 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/Challenges
- 4.4 Market Opportunities
- 4.5 Industry Value Chain Analysis
- 4.6 Porter's Five Forces Analysis
- 4.7 Insights on Trends and Innovations Influencing the United States Home Furniture Market
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Product
- 5.1.1 Kitchen Furniture
- 5.1.2 Living and Bedroom Furniture
- 5.1.3 Bathroom Furniture
- 5.1.4 Outdoor Furniture
- 5.1.5 Other Furniture
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5.2 By Distribution Channel
- 5.2.1 Home Centers
- 5.2.2 Exclusive Brand Outlets
- 5.2.3 Specialty Stores
- 5.2.4 Online Stores
- 5.2.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Retailers
- 6.2.1.1 Bed Bath & Beyond Inc.
- 6.2.1.2 Rooms to Go Inc.
- 6.2.1.3 Crate and Barrel
- 6.2.1.4 Wayfair Inc.*
- 6.2.2 Manufacturers
- 6.2.2.1 Ashley Furniture Store
- 6.2.2.2 American Signature Inc.
- 6.2.2.3 Williams-Sonoma Inc.
- 6.2.2.4 La-Z-Boy
- 6.2.2.5 Inter IKEA Holding SA*
- *List Not Exhaustive
7. FUTURE OF THE UNITED STATES HOME FURNITURE MARKET
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityUnited States Home Furniture Industry Segmentation
Home furniture refers to the category of products, which occupy the physical ambiance of a house and market consists of sales of household furniture products such as dining tables, sofas, beds, chairs, bassinets, bookcases, chairs, TV stands and other household furniture products made from materials including wood, metal, plastics, leather, and other materials. 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 market size and forecasts for the United States Home Furniture Market 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 |
| Exclusive Brand Outlets | |
| Specialty Stores | |
| Online Stores | |
| Other Distribution Channels |
United States Furniture Market Research FAQs
How big is the United States Home Furniture Market?
The United States Home Furniture Market size is expected to reach USD 90.33 billion in 2024 and grow at a CAGR of greater than 3.16% to reach USD 106.41 billion by 2029.
What is the current United States Home Furniture Market size?
In 2024, the United States Home Furniture Market size is expected to reach USD 90.33 billion.
Who are the key players in United States Home Furniture Market?
Ikea, Bed Bath & Beyond Inc., Williams-Sonoma, Inc., Target Corporation and Wayfair Inc. are the major companies operating in the United States Home Furniture Market.
What years does this United States Home Furniture Market cover, and what was the market size in 2023?
In 2023, the United States Home Furniture Market size was estimated at USD 87.48 billion. The report covers the United States Home Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Home Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends shaping the US Home Furniture Market?
The emerging trends shaping the US Home Furniture Market are a) The rising popularity of ready-to-assemble (RTA) furniture b) Growing demand for multifunctional and compact design furniture to optimize space utilization c) Increasing dominance of e-commerce in furniture retailing
US Furniture Industry Report
The United States home furniture market is on a significant upward trajectory, fueled by the shift towards remote work and a growing demand for ergonomic, technology-integrated solutions. Consumers are increasingly focused on crafting workspaces that are both functional and visually appealing, driving demand across various market segments including seating, wood materials, and products in the medium price range. Specialty stores emerge as the leading distribution channel, offering a diverse range of products and expert advice to meet specific consumer needs. The US home furnishing market's growth is further bolstered by eco-friendly materials and the millennial demographic's preference for sustainability, functionality, and affordability. Despite challenges like changing consumer trends and rising material costs, the outlook for the US furniture market remains optimistic, supported by Mordor Intelligence™ Industry Reports which provide a comprehensive analysis, including market share, size, and revenue growth rate forecasts. This positive trend is anticipated to continue, reflecting shifts in work dynamics, consumer preferences, and functional home environments. Get a sample of this industry analysis as a free report PDF download.
