Home Furniture Market Is Slated To Reach A Valuation Of US$ 307.52 Billion By 2032

Home Furniture Market 1

In FY 2021, the Home Furniture market reached a valuation of US$ 162.0 Billion, and is likely to register a Y-o-Y growth rate of 5.0% in 2022, closing at US$ 171.72 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 6.0% CAGR, reaching US$ 307.52 Billion.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Home Furniture market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Home Furniture market.

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Key findings of the Home Furniture market study:

  • Regional breakdown of the Home Furniture market based on predefined taxonomy.
  • Innovative manufacturing processes implemented by Home Furniture vendors in detail.
  • Region-wise and country-wise fragmentation of the Home Furniture market to grasp the revenue, and growth outlook in these areas.
  • Changing preferences among consumers across various regions and countries.
  • Factors (Positive and Negative) impacting the growth of the global Home Furniture market.

Key Companies Profiled

  • Ashley Furniture Industries
  • La-Z-Boy Incorporated
  • Flexsteel Industries Inc.
  • Inter Ikea Systems B.V.
  • Suofeiya Home Collection Co Ltd
  • Nitori Co Ltd
  • Basset Furniture Industries Inc.
  • Steinhoff International Holding N.V
  • Herman Miller Inc.
  • Kimball International, Inc.
  • Williams-Sonoma, Inc.
  • Berkshire Hathaway
  • Steelcase

 Competitive Landscape

Prominent players in the Home Furniture Industry are taking advantage of the rapidly increasing demand for the Home Furniture in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows :

  • In August 2021, Flexsteel Industries Inc. announced the opening of a 4th manufacturing facility in Mexico, in Mexicali, which is expected to be the largest plant in the whole country. With this initiation, the company intends to double its volume output to US$ 1 billion over the next 4 years.
  • In July 2021, La-Z-Boy Incorporated announced an investment of over US$ 30 million over a 2-year period in its Neosho, Missouri manufacturing facility, helping scale up production efficiency and shorten lead times for customers and consumers, as well as strengthening their manufacturing footprint.
  • In March 2021, the Ashley Furniture Industries announced plans to initiate a new manufacturing facility in Pottsville, Pennsylvania. The new 100,000 square feet facility will serve as a furniture production site. This latest addition augments its already existing network of 11 production facilities servicing the US.
  • In May 2020, Theodore Alexander USA, Inc., a console table and chair products manufacturer, partnered with Ralph Lauren Corporation, U.S. based fashion products company, to expand its business through the partner’s fashion stores in the US.

Key Segments Covered in the Home Furniture Industry Survey

  • By Product Type :
    • Beds and Mattresses
    • Sofas and Armchairs
    • Entertainment Units
    • Storage Units
    • Upholstery
    • Tables and Desks
    • Dining Home Furniture
    • Kitchen Home Furniture
    • Others
  • By Material Type :
    • Wooden Home Furniture
    • Metal Home Furniture
    • Glass Home Furniture
    • Plastic Home Furniture
    • Others
  • By Sales Channel :
    • Retail Stores
    • Direct to Consumers
    • Manufacturer Stores
    • e-Commerce Stores
    • Discount stores
    • Rental Stores
    • Club Stores
    • DIY Stores
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East Africa

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Queries addressed in the Home Furniture market report:

  • Why are the Home Furniture market players targeting region for increased product sales?
  • What patented technologies are the players utilizing in the global Home Furniture market?
  • Which regions are displaying the fastest growth in the Home Furniture market?
  • What are the underlying micro- macroeconomic factors affecting the global Home Furniture market?

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