Australia Furniture Market to Grow with a CAGR of 5.98% through 2030F
The Australia Furniture Market is
growing due to rising urbanization, increased housing development, higher
disposable incomes, and a strong demand for modern, multifunctional, and
sustainable furniture among consumers.
According
to TechSci Research report, “Australia Furniture Market – By Region, Forecast
& Opportunities, 2030F”, Australia Furniture Market was valued at
USD 10.86 Billion in 2024 and is expected to reach USD 15.35 Billion by 2030
with a CAGR of 5.98% during the forecast period. The Australia furniture market has
experienced significant growth over recent years, driven by evolving consumer
preferences, demographic shifts, and changing lifestyle trends. As Australians
continue to prioritize comfort, aesthetics, and sustainability in their living
spaces, the demand for innovative and high-quality furniture has intensified.
The market spans various categories including residential, commercial, and
institutional use, with furniture becoming an essential component of modern
living and working environments. Urban development, rising disposable incomes,
and an increased emphasis on home improvement have all contributed to robust
market expansion.
One of the central factors supporting
market growth is Australia's strong housing sector. The increasing number of
new housing developments, renovations, and interior redesign projects has
created a consistent demand for modern furniture. Homeowners are investing more
in furnishing their living spaces with products that reflect their lifestyle
and aesthetic preferences. The COVID-19 pandemic further accelerated this trend
as people spent more time at home and prioritized functional, comfortable, and
stylish home environments. As remote and hybrid work models became commonplace,
the need for ergonomic and multifunctional furniture surged, particularly for
home office setups.
Sustainability has become a critical
element in consumer decision-making, significantly shaping the direction of the
furniture industry in Australia. Environmentally conscious consumers are
seeking furniture made from sustainably sourced materials, recycled components,
and non-toxic finishes. As a result, manufacturers and retailers are
increasingly incorporating green practices into their production and sourcing
methods. Native Australian timbers such as Tasmanian Oak, Blackwood, and Jarrah
are commonly used, while alternative materials like bamboo and reclaimed wood
are also gaining traction. This shift reflects a broader trend towards
responsible consumption and has become a competitive differentiator for brands
in the market.
Technological innovation is also
influencing the Australian furniture landscape. The integration of smart
features into furniture such as built-in USB ports, wireless charging, and
adjustable settings has become increasingly popular, especially among
tech-savvy consumers. These advancements not only add convenience but also
cater to evolving digital lifestyles. Furthermore, retailers are leveraging
technology to enhance customer experiences through online platforms, virtual
showrooms, and augmented reality tools that allow consumers to visualize
furniture in their homes before making a purchase. The rise of e-commerce and
omnichannel retailing has made furniture more accessible and personalized than
ever before.
The competitive landscape in the
Australia furniture market is diverse, comprising domestic manufacturers,
importers, and global brands. Local producers often distinguish themselves by
emphasizing craftsmanship, sustainability, and locally sourced materials. In
contrast, international brands and retailers provide a wide array of products
at different price points, catering to both budget-conscious and premium
customers. This mix of players has intensified competition, pushing companies
to focus on innovation, customer service, and branding to capture market share.
Additionally, strategic partnerships, mergers, and expansions into new
markets—both within and outside Australia—have become common among leading
companies.
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"Australia Furniture Market”
The Australia
Furniture Market is segmented into product type, raw material, sales channel,
and region
The
online sales channel is the fastest-growing segment in the Australia furniture
market, driven by increasing consumer preference for convenience and wider
product selection. E-commerce platforms offer consumers the ability to browse a
diverse range of furniture options, compare prices, and make purchases from the
comfort of their homes. The rise of virtual showrooms, augmented reality tools,
and easy delivery services further enhance the online shopping experience. With
more consumers prioritizing convenience and flexibility, online retail
continues to gain traction, enabling furniture brands to reach a broader
audience while offering personalized and efficient shopping experiences.
Based
on region, Western Australia is emerging as the fastest-growing region in the Australia
Furniture Market, driven by the region’s expanding urbanization and
infrastructure development. As the demand for residential and commercial
properties increases, there is a corresponding rise in the need for furniture
to accommodate these spaces. The region’s growing population, coupled with an
influx of new residents and businesses, further fuels this demand.
Additionally, Western Australia’s focus on sustainability and the preference
for locally sourced, eco-friendly furniture options are contributing to the
market’s expansion. The combination of these factors positions Western
Australia as a key growth area for the furniture industry.
Major companies
operating in Australia Furniture Market are:
- IKEA
Pty Limited
- Harvey
Norman Holdings Limited
- Living
Edge (Aust) Pty Ltd
- Nick
Scali Limited
- Greenlit
Brands Pty Limited
- Freedom
Furniture Australia Pty Limited
- Amart
Furniture Pty Limited
- King
Furniture Australia Pty Ltd
- Saveba
Pty Ltd trading (Coco Republic)
- Kogan
Australia Pty Ltd
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“The Australia
Furniture Market is poised
for continued growth of urban centers, a strong emphasis on sustainable living,
and the expansion of digital retail infrastructure are likely to fuel further
market development. As lifestyles evolve and living spaces become more
multifunctional, furniture that combines form, function, and environmental
responsibility will remain in high demand. Brands that can anticipate consumer
needs, embrace innovation, and commit to sustainable practices will be
well-positioned to thrive in Australia’s dynamic furniture landscape. “said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Australia Furniture
Market By Product Type (Home Furniture, Office Furniture, Institutional
Furniture), By Raw Material (Wood, Plastic, Metal, Others), By Sales Channel
(Supermarkets/Hypermarkets, Exclusive Stores, Online, Others), By Region,
Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential
of Australia Furniture Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the Australia
Furniture Market.
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