Home Furnishing Market to be Dominated by North America During the Forecast Period
Increasing
home ownership, growing the trend of home decoration, and the rising internet
penetration are the factors driving the global home furnishing market.
According to TechSci
Research report, “Home Furnishing Market– Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”
The global home furnishing market is
expected to grow during the forecast period. Aesthetic elements and accessories
that are utilized to beautify residential environments are referred to as home furnishing and decor. It consists of
furniture, carpets & rugs, cushions, pillows, ornamental mirror
stickers, fragrant candles, showpieces, key holders, flower vases, quote wall
hangers, and wooden wall shelves. Additionally, it includes laminated floor
coverings and home textiles for the bathroom, kitchen, dining room, living
room, and bedroom. It elevates mood and helps maintain cleaner and more
organized houses. As a result, there is an increase in demand for home
furnishings products globally.
One of the main reasons driving the
market is the increasing construction and renovation activities in residential
and commercial spaces. Additionally, the population movement from rural to
urban areas and rising consumer spending power of individuals are boosting
demand for home furnishing products around the world. A significant
increase in the trade of decorative goods is also contributing to the positive
market outlook. In keeping with this, rising internet usage and a shift in
consumer dependency toward smartphones are boosting sales of home furnishing
items on online marketplaces.
Additionally, the advantages of free home delivery and safe online payment
methods, together with the simple accessibility of aesthetic components at
discounted prices, are providing manufacturers with attractive expansion
potential. Additionally, prominent market participants are being encouraged to
diversify their product offerings by consumers' growing knowledge of the
advantages of employing eco-friendly materials. Additionally, they are
concentrating on strategic partnerships with interior designers to provide
customers personalized home decor & furnishing items, which is
predicted to drive market growth during the forecast period.
Market expansion has been fueled by
consumers' shifting preferences toward urban lifestyles as a result of increasing
urbanization. A change in lifestyle necessitates the right arrangement of
furnishings and furniture, which calls for high-end goods of exceptional
quality. Therefore, the demand for home décor goods throughout the projection
period will benefit from this pace of growth. Additionally, it is expected that
growth in the real estate industry will support the demand for home
furnishings.
Browse over XX market
data figures spread through XX Pages and an in-depth TOC on the " Global Home Furnishing Market"
The global home furnishing market
is segmented based on product type, distribution channel, region, and
competitive landscape. Based on product type, the global home furnishing market
is segmented into home furniture, home textile, and wall decor. Among these,
the home furniture segment holds the leading share in the market during the
forecast period. The need for furniture
is growing as modular kitchens and lights are used more frequently. Metal,
wood, plastic, glass, and leather are just a few of the materials used to make
furniture, either alone or in combination with other materials. The shape and
arrangement of a design are crucial in the furniture industry since they have a
direct impact on consumers' decisions to buy a certain product. The furniture
industry is also developing as a result of increased urbanization and the
popularity of the nuclear family.
Based on distribution
channel, the global home furnishing market is segmented into supermarket/hypermarket,
specialty stores, online, and others. Among these, the specialty stores is
expected to hold the leading share in the market during the forecast period.
The outlet of the home furnishing focused specialty store offers a wide
variety of goods and associated things. The specialty store gives specialized
options to residences. Additionally, specialist stores offer better
customer service and knowledgeable guidance when guiding customers in choosing
home furnishings goods for different purposes, such as kitchens, bedrooms, and
outdoor furniture. Prior to making a purchase, consumers want to shop around
and assess their options, which boosts retail sales of home furnishings items
in specialist stores. Customers also consider the reliability, dependability,
and coloring options offered in the stores as well as the compatible
accessories. As a result, more people are expected to shop at specialty stores
in the future.
Based on region, the market
is segmented into North America, Europe, Asia-Pacific, Middle East & Africa,
and South America. Among these, North America holds the leading share in the
market during the forecast period. Wider product accessibility and increased
online and offline home furnishing channel penetration are credited for the
market's expansion. The maximum penetration of various furnishing
products, such as furniture, lighting, ornamental flooring, and the use of
textiles, is observed in North America with the most market participants. Moreover,
the United States dominates the world market for outdoor furniture as a result
of customers' increasing willingness to spend money on home decorative
elements.
Key market players operating
in the global home furnishing market include:
- Walmart Inc.
- Bed Bath & Beyond Inc.
- IKEA Group
- Macy's, Inc.
- Wayfair LLC
- Home Depot Product Authority, LLC
- Carrefour
- Herman Miller, Inc.
- Penney IP LLC
- Haworth Inc. Ltd.
Download Sample Report
Customers can also request for
10% free customization on this report.
“Online shopping for home furnishings
has become more popular due to the increasing prevalence of e-commerce and
smart devices such as mobile phones and tablets with convenient payment and
delivery choices. The market expansion for various home furnishing products has
also been boosted by broader availability and easy access to products. However,
these goods are costly, which makes it challenging for customers to buy.
Furthermore, the market's ability to expand is being hampered by rising raw
material costs for goods made of leather and wood.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Home Furnishing Market–
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F
Segmented By Product Type
(Home Furniture (Bed, Table, Chairs, etc.), Home Textiles (Carpets & Rugs,
Cushions, etc.), Wall Décor (Scenic Accent Wall, Rugged Walls)), By
Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, and
Others), By Region, By Company, has evaluated the future growth potential of home furnishing market
globally and provides statistics and information on
market structure, size, share, and future growth. The report provides
cutting-edge market intelligence and helps decision-makers to make sound investment
decisions. Besides, the report also identifies the emerging trends along with
essential drivers, challenges, and opportunities present in the market of the home
furnishing globally.
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York – 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website:
https://www.techsciresearch.com/