Global Office Furniture Market

The global office furniture market size was USD 61.2 Bn in 2023 and is likely to reach USD 117.14 Bn by 2031, expanding at a CAGR of 7.48% during 2023–2031. Office furniture refers to furniture that is free standing and does not require much installation. Office furniture includes chairs, desk, tables, lounge seating, computer desk, and lockers.

Office furniture is essential for smooth and efficient functioning of offices. The furniture is required to make the environment conformable, pleasant, and attractive. This type of furniture setting encourages employees, increases work efficiency, and makes them feel comfortable to work by creating a relaxing atmosphere. Changing working patterns and lifestyles of employees are increasing the demand for office furniture.

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Market Trends, Drivers, Restraints, and Opportunities

• Rising preference towards the adoption of modern ambiance at workplace and growth in the e-commerce sector enhances the sale of office furniture through online channels, which is boosting the market.

• Growing number of corporate offices associated with expansion of IT parks and commercial zones is driving the market.

• Continuous growth in the real estate industry with growing demand for premium and designer furniture are fueling the market.   

• Stringent regulatory framework related to environment concerns for wooden furniture is hampering the growth of the market.

• Perfect competition in the market associated with large number of manufactures with their pricing strategy is restricting the market growth.

• Technological advancement, rising demand for smart workplaces, and adoption of sustainable production are expected to create opportunities for the growth of the market.

• Growing health issues due to sedentary lifestyle of employees are anticipated to create opportunities for the players in the market. 

Scope o The Report

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

Office Furniture Market Segment Insights

High benefits of wooden furniture to drive the market

In terms of materials, the office furniture market is segmented into metal, wood, fiber, plastic, glass, and others. The wood segment held a considerable share of the market in 2020, as it is a popular choice for furniture among customers. Wooden furniture is made from the wood of oak, pine, cedar, and teak trees.

Wooden furniture has significant advantages such as low-maintenance, production of a variety of pieces, durability, and production of oils that protect against rot and deterioration. Various benefits offered by wooden furniture are expected to help the wood segment to expand at significant CAGR during the forecast period.

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Growing adoption of smart furniture to drive the market

Based on products, the office furniture market is fragmented into desks & tables, seating, storage units, workstation, and accessories. The workstation segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period.

The growth in the workstation segment is attributed to the major amount of time spent by employees at the workstation. The workstation segment is projected to be the fastest growing segment, due to growing adoption of smart furniture as per convenience of employees by various organizations. 

Increasing per capita income of consumers to drive the market

On the basis of price range, the office furniture market is segregated into premium (high), medium, and economy (low) range. The medium range segment is expected to expand at a significant rate during the forecast period, owing to increasing per capita income of consumers.

Changing lifestyle and maintenance of proper body posture are increasing the demand for office chairs. Growing consumer awareness for healthy lifestyle and comfortable furniture such as ergonomic chairs is enhancing the medium price range segment, which is anticipated to boost the furniture market in the forecast period.

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Convenience of buyers in specialist stores to drive the market

Based on distribution channels, the office furniture market is segregated into online, offline (including direct sales, specialist stores, and non-specialist stores), and others. The offline segment is expected to hold a significant share of the market and is anticipated to grow during the forecast period. The online segment is sub-segmented into direct sales, specialist stores, and non-specialist stores.

The specialist store segment held a maximum market share, owing to convenience of buyers in specialist stores. Speciality stores cover a wide range and all types of office furniture, which helps the customer to make a purchasing decision easily. Offline purchasing provides immediate quality check as compared to online distribution channel.

Expansion of corporate offices to drive the market

On the basis of end-users, the office furniture market is segregated into corporate offices, government offices, and others. The corporate segment is expected to hold a significant share of the market during the forecast period, due to expansion of corporate offices including IT parks and commercial zones.

The growth in the corporate segment is attributed to the growing concerns about health and changing lifestyles. The corporate sector is focused on the maintenance of the health and well-being of employees.

Growing e-commerce retail sectors in Asia Pacific to drive the market

In terms of regions, the global office furniture market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America constituted a significant share of the market in 2020, due to mergers and acquisitions conducted by key market players.

The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to growing e-commerce retail sectors with improving distribution channels, rising number of start-ups, and business expansion in countries such as Australia, China, Japan, and India. Improvements in distribution channels, including offering facilities at doorstep of customers, are helping in the growth of the market in Asia Pacific.

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Segments

By Materials

• Metal
• Wood
• Fiber
• Plastic
• Glass
• Others

By Products

• Desks & Tables
• Seating
• Storage Units
• Workstation
• Accessories 

By Price Range

• Premium (High)
• Medium
• Economy (Low)     

By Distribution Channels

• Online
• Offline (Direct Sales, Specialist Stores, Non-specialist Stores)
• Others   

By End-users  

• Corporate Offices
• Government Offices
• Others  

By Regions

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

By Key Players

• 9to5 Seating LLC
• BERCO DESIGN
• Global Furniture Group
• Gunlocke Company
• Haworth Inc
• Herman Miller Furniture (India) Pvt Ltd
• Kimball International
• Knoll, Inc
• KOKUYO Co., Ltd
• OKAMURA CORPORATION
• Steelcase Inc
• Teknion

Competitive Landscape

Key players in the office furniture market include 9to5 Seating LLC, BERCO DESIGN, Global Furniture Group, Gunlocke Company, Haworth Inc, Herman Miller Furniture (India) Pvt Ltd, Kimball International, Knoll, Inc, KOKUYO Co., Ltd, OKAMURA CORPORATION, Steelcase Inc, and Teknion. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.