Home Furniture Market Size, Share & Growth | Forecast [2031]

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Segments - Global Home Furniture Market by Product Types (Living Room Furniture, Bedroom Furniture and Storage Furniture), End-users (Online Retail and Offline Retail), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

Author : Debadatta Patel

Fact-checked by : PARTHA PAUL

Editor : Shruti Bhat

Report Description

Market Trends Drivers Restraints and Opportunities
Scope of the report
Market Segment Insights

Segments
Table Of Content
Methodology
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Report Description

The global home furniture market is estimated to register a robust CAGR during the forecast period, between 2021 and 2028. Objects such as chairs, tables, and sofas that facilitate human activities such as sitting, dining, or sleeping are considered under furniture category. Additionally, it hold objects at an optimal height for use, on horizontal surfaces above the ground, such as tables and desks. Furniture can also be used to store things such as cabinets and shelves. The furnishing industry is considered to be a form of decorative art and a product of design. The role of furniture isn't limited to its functionality. It can also serve a symbolic or religious purpose. A variety of materials can be used to produce it, including metal, plastic, and wood. A number of woodworking joints can be utilized in the manufacturing of furniture, which often reflects the local culture.

Market Trends, Drivers, Restraints, and Opportunities:

New product launches in conjunction coupled with growing activities are estimated to drive the market growth.
Increasing disposable income of individuals and rising consciousness regarding utilization of high-quality furniture are major factors spurring the growth of the market.
Changing lifestyles and increased preference for smart furniture is expected to fuel the growth of the home furniture market.
Rapid growing urban population is driving the home furniture industry.
Increasing demand for high-quality premium furniture products is estimated to foster the growth of the market.
The low lending rates and the penetration of online stores in emerging economies are estimated to proliferate the global market share.
The COVID-19 outbreak in 2020 resulted in disruption in supply chain and disrupted the trade restrictions, negatively affected the global consumption.
A steady recovery trend is likely to be seen in the upcoming years, with the home furniture market showcasing a decent jump in revenues due to relaxation in restrictions. The market is estimated to create lucrative opportunities for industry players during the forecast period.

Scope of the report:

The report on global home furniture market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Home Furniture Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2020
Historic Data	2018 & 2019
Forecast Period	2021–2028
Segmentation	Product Types (Living Room Furniture, Bedroom Furniture and Storage Furniture), End-users (Online Retail and Offline Retail), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa)
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Market Segment Insights

Bedroom furniture segment is projected to hold significant market share

In the terms of product types, the global home furniture market can be divided into living room furniture, bedroom furniture, and storage furniture. The bedroom furniture segment is projected to hold significant market share due to growing demand for multifunctional furniture. In most parts of the world, particularly in cities and urban areas, real estate prices have increased substantially due to a growing global population. As a result, house sizes have been reduced significantly. With rooms becoming smaller, consumers are increasingly seeking furniture that is easily movable and compact, which can allow them to make efficient use of the available space. Companies that sell furniture have developed multifunctional pieces with storage features in order to satisfy customer requirements. Most modern furniture products come with additional storage space, such as tables and beds.

Online retail segment is anticipated to account for a substantial share

Based on end-users, the global home furniture market can be bifurcated into online retail and offline retail. The online retail segment is anticipated to account for a substantial share during the forecast period. Rising Internet penetration in countries, such as India and China, in the recent years has brought a major population of the region online, which is expected to result in a booming opportunity for the online retail segment in the global home furniture market.

Asia Pacific is expected to dominate the market

In terms of regions, the global home furniture market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to increasing population, coupled with rising disposable income in countries, such as China, India, Vietnam, and Thailand. On the other hand, the increasing construction activities in this region is estimated to propel the market growth in the region.

Segments

Segments Covered in the Report:

By Product Types

Living Room Furniture
Bedroom Furniture
Storage Furniture

By End-users

Online Retail
Offline Retail

By Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Competitive Landscape

Key players in the global home furniture market are Ashley Furniture HomeStore, La-Z-Boy, IKEA, Williams-Sonoma, Rooms To Go and Mattress Firm. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Home Furniture Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Home Furniture Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Home Furniture Market - Supply Chain
  4.5. Global Home Furniture Market Forecast
     4.5.1. Home Furniture Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Home Furniture Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Home Furniture Market Absolute $ Opportunity
5. Global Home Furniture Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Home Furniture Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Home Furniture Demand Share Forecast, 2019-2026
6. North America Home Furniture Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Home Furniture Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Home Furniture Demand Share Forecast, 2019-2026
7. Latin America Home Furniture Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Home Furniture Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Home Furniture Demand Share Forecast, 2019-2026
8. Europe Home Furniture Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Home Furniture Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Home Furniture Demand Share Forecast, 2019-2026
9. Asia Pacific Home Furniture Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Home Furniture Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Home Furniture Demand Share Forecast, 2019-2026
10. Middle East & Africa Home Furniture Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Home Furniture Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Home Furniture Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Home Furniture Market: Market Share Analysis
  11.2. Home Furniture Distributors and Customers
  11.3. Home Furniture Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)