About Home Furniture
Home furniture refers to furnishing and home decor in living rooms. Growing nuclear families and increasing usage of creative furniture for decorating living spaces and rising inclination of residential buyers towards designed, multi-purpose and smart pieces of furniture boosting the home furniture market. In addition, surging demand for furniture integrated with technologies such as remote-controlled furniture and mattresses expected to drive the home furniture sale for the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.55% |
The home furniture market is fragmented owing to presence of numerous players. Merchants are gradually focusing on the improvement of assorted styles of furniture, specifically the ready-to-assemble and portable furniture. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Home Furniture market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco Bros. Corp. (United States), Bob Mills Furniture (United States), Eco Balanza Modern Artisan Furniture (United States), Vermont Wood Studios LLC (United States), Kimball International Inc. (United States), Godrej & Boyce Manufacturing Company Limited (India), Raymours Furniture Company, Inc. (United States), Crest Furniture Inc. (United States), L. & J. G. Stickley, Inc. (United States), Ashley Furniture Industries, Inc. (United States), Herman Miller, Inc. (United States), Century Furniture LLC (United States), Heritage Home Group LLC (United States), Masco Corporation Designs (United States), HNI Corporation (United States) and IKEA (Sweden) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are PFC Furniture Industries, Inc. (United States), Okamura Corporation (Japan) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Home Furniture market by Type (Living room furniture, Bedroom furniture, Storage furniture and Others) and Region.
On the basis of Type, Wooden Furniture are dominating the market in the year 2023On the basis of geography, the market of Home Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Material, the sub-segment i.e. Metal will boost the Home Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By distribution channel , the sub-segment i.e. Offline Retail Store will boost the Home Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Premium and luxury Furniture From High Income Group and Increasing Application of Hardwood in Furniture
Market Growth Drivers:
Growing Demand of Multi-Functional Furniture, Increasing Demand for Technologically advanced Furniture and Rising Online Retail
Challenges:
Local furniture manufacturers
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Increasing Demand of Green Furniture and Developing Real Estate Industry
Market Leaders and their expansionary development strategies
In August 2022, IKEA and Sonos announced a partnership to develop a line of furniture specifically designed to integrate seamlessly with Sonos home speaker systems
In January 2023, West Elm, a brand under the umbrella of furniture giant Pottery Barn, launched a new collection of furniture made from recycled materials, appealing to environmentally conscious consumers
Key Target Audience
Furniture Manufacturer/ Distributors, Online Vendors, Retail Stores, Government Agencies, Research Institute, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.