Furniture Market By Size, Growth, Trends and Forecast 2018-2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 672.5 Billion
CAGR (2023-2028)	6.74%
Fastest Growing Segment	Online
Largest Market	Asia-Pacific

Market Overview

Global Furniture Market has valued at USD 672.5 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.74% through 2028. The global furniture market is a multifaceted industry that encompasses the production, distribution, and retail of various furniture items. It plays a pivotal role in shaping living spaces worldwide, reflecting cultural trends, design innovations, and consumer preferences. As of my last knowledge update in September 2021, the market has been undergoing significant transformations. Consumer demands have shifted towards sustainable and eco-friendly options, prompting furniture manufacturers to adopt more environmentally conscious practices. Additionally, there has been a notable rise in online furniture retail, driven by the convenience of e-commerce platforms and digital marketing strategies. This shift challenges traditional brick-and-mortar stores to adapt their strategies to remain competitive. The industry is heavily influenced by design trends, with contemporary and minimalist styles gaining popularity. Technological advancements have also impacted the furniture market, with smart and multifunctional furniture becoming more prevalent. Global economic conditions and fluctuations in raw material prices can affect production costs and, consequently, retail prices. Supply chain disruptions, such as those experienced during the COVID-19 pandemic, have underscored the importance of resilient and adaptable supply chain strategies in the furniture industry. Overall, the global furniture market is a dynamic sector influenced by a myriad of factors, ranging from consumer behavior and design preferences to technological innovations and economic conditions. Stakeholders in the industry must navigate these complexities to thrive in an ever-changing marketplace.

Key Market Drivers

Consumer Preferences and Lifestyle Trends

Consumer preferences play a pivotal role in steering the furniture market. As lifestyles evolve, so do the demands for furniture that complements these changes. Contemporary trends often prioritize functionality, versatility, and aesthetic appeal. For instance, the growing popularity of remote work has led to increased demand for ergonomic home office furniture. Similarly, the rise of compact urban living spaces has fueled the demand for multifunctional and space-saving furniture designs. Sustainable and eco-friendly choices have also gained prominence as consumers become more environmentally conscious, impacting material choices and manufacturing processes.

E-commerce and Digital Transformation

The advent of e-commerce has significantly altered the landscape of the furniture market. Online platforms provide consumers with the convenience of browsing and purchasing furniture from the comfort of their homes. Digital marketing strategies, augmented reality applications, and virtual showrooms have enhanced the online furniture shopping experience. This shift towards digital channels has not only impacted sales but also necessitated changes in supply chain logistics and inventory management. Traditional brick-and-mortar stores face the challenge of integrating their physical presence with an online presence to stay competitive in this evolving market.

Sustainability and Environmental Concerns

Sustainability has become a major driving force in the global furniture market. Consumers are increasingly seeking furniture made from eco-friendly materials, and manufacturers are responding by adopting sustainable practices. This includes the use of recycled materials, responsibly sourced wood, and environmentally friendly production processes. Certifications such as Forest Stewardship Council (FSC) and Cradle to Cradle (C2C) have gained importance, signifying a commitment to environmental responsibility. Companies that prioritize sustainability not only align with consumer values but also contribute to a positive brand image.

Technological Innovations

Technology is playing an increasingly significant role in the furniture industry. Smart furniture, embedded with technology like sensors, IoT (Internet of Things) connectivity, and automation, is gaining traction. This includes furniture with built-in charging stations, adjustable settings, and even integrated lighting systems. These technological innovations not only enhance the functionality of furniture but also cater to the growing demand for smart homes. Additionally, technology is employed in the manufacturing process, with advanced machinery improving efficiency and precision. This fusion of technology and furniture design reflects a broader trend toward the integration of tech solutions in various aspects of daily life.

Global Economic Conditions and Supply Chain Resilience

The global furniture market is sensitive to economic conditions and geopolitical factors. Fluctuations in exchange rates, raw material prices, and trade policies can impact production costs and, consequently, retail prices. The COVID-19 pandemic exposed vulnerabilities in global supply chains, affecting the availability of raw materials and disrupting manufacturing and distribution processes. This crisis underscored the importance of building resilient and adaptable supply chains. Companies are now reevaluating their sourcing strategies and diversifying suppliers to mitigate risks and ensure a more robust response to unforeseen challenges.

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Key Market Challenges

Supply Chain Disruptions and Raw Material Shortages

The global furniture industry is intricately connected through complex supply chains that source raw materials from various regions. However, this interconnectedness makes the industry vulnerable to disruptions. The COVID-19 pandemic highlighted this vulnerability, causing widespread supply chain disruptions. Lockdowns, travel restrictions, and factory closures led to shortages of raw materials, delays in production, and increased transportation costs. The furniture market, reliant on a steady flow of materials like wood, metal, and textiles, felt the impact acutely. Even beyond pandemics, geopolitical tensions, natural disasters, or trade disputes can disrupt the supply chain, affecting production schedules and leading to increased costs. Addressing this challenge requires building more resilient and flexible supply chains, possibly diversifying suppliers, and adopting digital technologies for better visibility and real-time monitoring.

Evolving Consumer Behavior and Digital Transformation

The shift towards digitalization and changing consumer behaviors present both opportunities and challenges for the furniture market. Online retail and e-commerce have grown significantly, driven by the convenience of shopping from home and an abundance of choices. However, this shift challenges traditional brick-and-mortar stores, necessitating an adaptation to a dual-channel approach. Showrooming, where customers visit physical stores to experience products before making online purchases, has become a common trend. Additionally, the reliance on digital platforms means that companies need to invest in user-friendly websites, effective digital marketing strategies, and virtual experiences such as augmented reality applications to remain competitive. Managing inventory and order fulfillment become more complex in the digital space, requiring robust logistics and distribution networks. Striking the right balance between online and offline strategies while meeting the expectations of digitally-savvy consumers is a continual challenge.

Sustainability Pressures and Regulatory Compliance

As environmental awareness grows, consumers increasingly seek sustainable and eco-friendly products, including furniture. This trend is not only influenced by consumer values but is also driven by regulatory changes and global initiatives promoting responsible production. Meeting sustainability goals involves challenges such as sourcing materials responsibly, reducing carbon footprints, and adopting circular economy principles. Achieving certification standards, like FSC or C2C mentioned earlier, often involves significant investments in supply chain transparency and environmentally-friendly practices. Compliance with evolving environmental regulations in different regions adds another layer of complexity. Striking a balance between economic viability, consumer demands for sustainable products, and meeting regulatory requirements poses an ongoing challenge for furniture manufacturers. However, companies that successfully integrate sustainability into their business models can benefit from a positive brand image and a growing market segment of environmentally-conscious consumers.

Design Innovation and Shortened Product Lifecycles

Design trends in the furniture industry are constantly evolving, driven by changes in consumer tastes, lifestyle preferences, and architectural styles. This poses a challenge in terms of product development and innovation. Furniture manufacturers need to stay ahead of design trends and introduce innovative products to capture market attention. However, the pace of innovation can lead to shortened product lifecycles, with products becoming obsolete more quickly. This presents challenges in terms of managing inventory, reducing waste, and adapting production processes to accommodate frequent design changes. Additionally, the demand for personalized and customizable furniture adds complexity to production, as manufacturers need to offer a variety of options to cater to individual preferences. Balancing the need for innovation with practical considerations of production efficiency and waste reduction is a continual challenge for companies in the furniture industry.

Key Market Trends

Sustainability and Eco-Friendly Designs

Sustainability has been a prominent and enduring trend in the furniture market. Consumers are increasingly concerned about the environmental impact of their purchases, and furniture manufacturers have responded by incorporating eco-friendly practices into their designs and production processes. This includes the use of sustainably sourced materials, such as certified wood (e.g., FSC-certified wood), recycled materials, and biodegradable options. Additionally, companies are embracing energy-efficient manufacturing processes, reducing waste, and adopting circular economy principles. Sustainability isn't just a trend; it has become a fundamental aspect of the furniture industry.

Furthermore, consumers are seeking transparency in product origins and materials. Certifications and eco-labels, such as Cradle to Cradle (C2C) or GreenGuard, have gained importance, signifying a commitment to environmental responsibility. As this trend continues, we can expect an increasing number of furniture options that are not only stylish but also sustainable and eco-conscious.

Online Retail and Digital Shopping

The e-commerce revolution has transformed how consumers shop for furniture. Online retail platforms, including dedicated furniture websites and major e-commerce marketplaces, offer consumers the convenience of browsing, comparing, and purchasing furniture from the comfort of their homes. This trend has been accelerated by the COVID-19 pandemic, which led to a surge in online furniture sales as people spent more time at home. Digital marketing strategies, such as social media advertising and influencer partnerships, play a crucial role in attracting and engaging customers online.

In response to this trend, furniture companies are investing in user-friendly websites, virtual showrooms, and augmented reality (AR) applications that allow customers to visualize how furniture will fit in their homes. The integration of technology in the online furniture shopping experience is expected to continue, making the process even more interactive and engaging for consumers.

Multifunctional and Space-Saving Designs

Urbanization and the trend toward smaller living spaces have led to increased demand for multifunctional and space-saving furniture. Consumers are looking for designs that maximize the utility of their furniture while minimizing its physical footprint. Examples include sofa beds, modular storage solutions, and dining tables that can be expanded or folded down when not in use.

The popularity of remote work and home offices has further fueled the demand for space-saving furniture. Innovative designs for compact workstations and ergonomic home office furniture have emerged. This trend is expected to persist as urbanization continues, and people increasingly seek to make the most of their living spaces.

Smart and Tech-Integrated Furniture

The "smart home" trend has extended to furniture, with manufacturers incorporating technology into their designs. Smart furniture is equipped with features such as built-in wireless charging stations, integrated lighting systems, and IoT (Internet of Things) connectivity. These innovations enhance the functionality and convenience of furniture, catering to the growing demand for tech-integrated living spaces.

For example, a sofa might have USB ports for charging devices, or a coffee table could include wireless charging pads. Lighting fixtures with adjustable color temperatures and intensity can be integrated into various furniture pieces. These smart features are designed to enhance the comfort and versatility of furniture while aligning with the broader trend of home automation.

Global Design and Cultural Influences

The furniture market is increasingly influenced by global design trends and cultural influences. With the ease of cross-cultural communication and the sharing of design ideas online, consumers are exposed to a wide range of design aesthetics from around the world. This has led to a fusion of design elements, creating eclectic and diverse furniture styles.

For example, Scandinavian minimalism, which emphasizes clean lines and natural materials, has gained international popularity. Similarly, Japanese-inspired furniture, characterized by simplicity and functionality, has made its mark. This trend toward global design influences provides consumers with a broad spectrum of choices, allowing them to personalize their living spaces in unique and culturally inspired ways.

Personalization and Customization

Personalization is becoming increasingly important in the furniture market. Consumers are seeking furniture that reflects their individual tastes and preferences. Many manufacturers offer customization options, allowing customers to choose from a range of materials, colors, and configurations to create furniture that suits their specific needs.

Customization goes beyond aesthetics; it also encompasses functionality. Consumers want furniture that aligns with their lifestyles and the unique requirements of their living spaces. This includes custom-sized and modular furniture that can be adapted to different room layouts.

The trend toward personalization is driven by the desire for unique, one-of-a-kind pieces that reflect individuality. It allows consumers to be active participants in the design process, creating furniture that is not only functional but also a statement of their personal style.

Segmental Insights

Product Type Insights

The sofa and couch segment within the global furniture market has been experiencing significant growth in recent years. This growth can be attributed to various factors that align with changing consumer preferences and lifestyles.

One key driver of the growing popularity of sofas and couches is the increasing focus on comfort and relaxation in today's fast-paced world. As people spend more time at home, especially in the wake of the COVID-19 pandemic, there is a growing demand for furniture that provides a cozy and inviting atmosphere. Sofas and couches, with their soft cushions and ergonomic designs, offer the perfect solution for creating comfortable living spaces.

Additionally, the multifunctional nature of many modern sofas and couches is another factor contributing to their growth. With compact living spaces becoming more common, consumers are seeking furniture that can serve multiple purposes. Many sofas and couches are now designed with built-in storage, sofa beds, and modular configurations, making them adaptable to various room layouts and functions.

Moreover, the increasing emphasis on interior design and aesthetics has driven innovation in sofa and couch design. Consumers are looking for stylish and visually appealing options that complement their home decor. As a result, furniture manufacturers are introducing a wide range of designs, materials, and colors to cater to diverse tastes.

In conclusion, the sofa and couch segment is thriving due to the emphasis on comfort, multifunctionality, and aesthetics, making it a growing and important part of the global furniture market. This trend is likely to continue as consumers seek versatile and stylish furniture for their homes.

Sales Channel Insights

The online segment of the global furniture market has experienced remarkable growth in recent years and continues to be a dominant force in the industry. This growth is primarily attributed to changing consumer behaviors and technological advancements.

One of the key drivers of the online segment's growth is the convenience it offers to consumers. With the proliferation of e-commerce platforms and dedicated furniture websites, shoppers can browse, compare, and purchase furniture from the comfort of their homes. This convenience has become even more vital in the wake of the COVID-19 pandemic, which accelerated the shift to online shopping as people sought to minimize in-person interactions.

Moreover, the extensive product range available online has empowered consumers with an abundance of choices. They can explore a diverse array of furniture styles, materials, and price points, enabling them to make well-informed decisions that suit their preferences and budgets. Online platforms also provide access to customer reviews and ratings, aiding shoppers in their decision-making process.

Additionally, the integration of technology has enhanced the online shopping experience. Virtual showrooms, augmented reality (AR) applications, and 3D product visualizations allow customers to virtually place furniture in their homes, aiding in the visualization of how pieces will fit in their space. Digital marketing strategies, including targeted advertising and social media campaigns, have expanded the reach of online furniture retailers.

As consumers continue to embrace digital channels for their furniture shopping needs, the online segment of the furniture market is expected to further expand, creating opportunities and challenges for both established retailers and newcomers in the industry. This growth underscores the transformative impact of technology on the way consumers shop for furniture and highlights the importance of a seamless and user-friendly online shopping experience for businesses in this sector.

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Regional Insights

Europe represents a growing segment within the global furniture market, characterized by a dynamic landscape influenced by various factors, including evolving consumer preferences, sustainable practices, and innovative designs.
One of the notable drivers of growth in the European furniture market is the increasing focus on sustainability. European consumers are increasingly conscious of environmental concerns and are seeking eco-friendly furniture options. This trend has pushed manufacturers to adopt sustainable practices, such as using certified wood, reducing waste, and emphasizing recyclability. European governments have also implemented stringent environmental regulations, further incentivizing sustainable production practices.
In addition, European consumers have a strong penchant for design and aesthetics. The region has a rich history of furniture design, and this emphasis on craftsmanship and quality has driven the demand for high-end, well-designed furniture pieces. This focus on design is also influenced by the continent's diverse cultural heritage, resulting in a broad range of styles and aesthetics that cater to various tastes.
Furthermore, e-commerce and digital transformation are impacting the European furniture market. The convenience of online shopping, coupled with the COVID-19 pandemic, has led to significant growth in online furniture sales. Many European retailers have expanded their online presence, offering consumers a wide array of options through digital platforms.
The European furniture market, characterized by its commitment to sustainability, design excellence, and digital innovation, is poised for continued growth and adaptation to meet the changing demands of consumers. This region is likely to remain a significant player in the global furniture market, offering diverse and innovative choices for consumers seeking quality, style, and eco-conscious options.

Recent Developments

In 2022, Parachute launched new living room collection.
In 2023, luxury furniture brand, Wriver, launched range of new furniture pieces designed in collaboration with design studios Morph Lab, MuseLAB, Studio Sumeet Nagi, and Wriver Design Studio, exclusively at India Design 2023.

Key Market Players

IKEA
Ashley Furniture Industries Inc.
RH (Restoration Hardware)
Williams-Sonoma, Inc.
La-Z-Boy Inc.
Raymour & Flanigan
American Signature
Oppein Home Group Inc.
Jason Furniture (HangZhou) Co., Ltd
Steelcase Inc.

By Product Type	By Application	By Sales Channel	By Region
Beds Tables & Desks Sofa & Couch Chairs & Stools Cabinets & Shelves	Residential Commercial	Supermarkets/Hypermarkets Specialty Stores Online Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Furniture Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Furniture Market, By Product Type:

o Beds

o Tables & Desks

o Sofa & Couch

o Chairs & Stools

o Cabinets & Shelves

Furniture Market, By Application:

o Residential

o Commercial

Furniture Market, By Sales Channel:

o Supermarket/Hypermarket

o Specialty Stores

o Online

o Others

Furniture Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

§ Indonesia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Turkey

o South America

§ Argentina

§ Colombia

§ Brazil

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Furniture Market.

Available Customizations:

Global Furniture market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Furniture Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer

4.1. Brand Awareness

4.2. Factors Influencing Purchase Decision

4.3. Sources of Information

5. Global Furniture Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product Type Market Share Analysis (Beds, Tables & Desks, Sofa & Couch, Chairs & Stools, Cabinets & Shelves)

5.2.2. By Application Market Share Analysis (Residential, Commercial)

5.2.3. By Sales Channel Market Share Analysis (Supermarket/Hypermarket, Specialty Stores, Online, Others)

5.2.4. By Regional Market Share Analysis

5.2.4.1. North America Market Share Analysis

5.2.4.2. Europe Market Share Analysis

5.2.4.3. Asia-Pacific Market Share Analysis

5.2.4.4. Middle East & Africa Market Share Analysis

5.2.4.5. South America Market Share Analysis

5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)

5.3. Global Furniture Market Mapping & Opportunity Assessment

5.3.1. By Product Type Market Mapping & Opportunity Assessment

5.3.2. By Application Market Mapping & Opportunity Assessment

5.3.3. By Sales Channel Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. North America Furniture Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type Market Share Analysis

6.2.2. By Application Market Share Analysis

6.2.3. By Sales Channel Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. United States Furniture Market Outlook

6.2.4.1.1. Market Size & Forecast

6.2.4.1.1.1. By Value

6.2.4.1.2. Market Share & Forecast

6.2.4.1.2.1. By Product Type Market Share Analysis

6.2.4.1.2.2. By Application Market Share Analysis

6.2.4.1.2.3. By Sales Channel Market Share Analysis

6.2.4.2. Canada Furniture Market Outlook

6.2.4.2.1. Market Size & Forecast

6.2.4.2.1.1. By Value

6.2.4.2.2. Market Share & Forecast

6.2.4.2.2.1. By Product Type Market Share Analysis

6.2.4.2.2.2. By Application Market Share Analysis

6.2.4.2.2.3. By Sales Channel Market Share Analysis

6.2.4.3. Mexico Furniture Market Outlook

6.2.4.3.1. Market Size & Forecast

6.2.4.3.1.1. By Value

6.2.4.3.2. Market Share & Forecast

6.2.4.3.2.1. By Product Type Market Share Analysis

6.2.4.3.2.2. By Application Market Share Analysis

6.2.4.3.2.3. By Sales Channel Market Share Analysis

7. Europe Furniture Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product Type Market Share Analysis

7.2.2. By Application Market Share Analysis

7.2.3. By Sales Channel Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. France Furniture Market Outlook

7.2.4.1.1. Market Size & Forecast

7.2.4.1.1.1. By Value

7.2.4.1.2. Market Share & Forecast

7.2.4.1.2.1. By Product Type Market Share Analysis

7.2.4.1.2.2. By Application Market Share Analysis

7.2.4.1.2.3. By Sales Channel Market Share Analysis

7.2.4.2. United Kingdom Furniture Market Outlook

7.2.4.2.1. Market Size & Forecast

7.2.4.2.1.1. By Value

7.2.4.2.2. Market Share & Forecast

7.2.4.2.2.1. By Product Type Market Share Analysis

7.2.4.2.2.2. By Application Market Share Analysis

7.2.4.2.2.3. By Sales Channel Market Share Analysis

7.2.4.3. Italy Furniture Market Outlook

7.2.4.3.1. Market Size & Forecast

7.2.4.3.1.1. By Value

7.2.4.3.2. Market Share & Forecast

7.2.4.3.2.1. By Product Type Market Share Analysis

7.2.4.3.2.2. By Application Market Share Analysis

7.2.4.3.2.3. By Sales Channel Market Share Analysis

7.2.4.4. Germany Furniture Market Outlook

7.2.4.4.1. Market Size & Forecast

7.2.4.4.1.1. By Value

7.2.4.4.2. Market Share & Forecast

7.2.4.4.2.1. By Product Type Market Share Analysis

7.2.4.4.2.2. By Application Market Share Analysis

7.2.4.4.2.3. By Sales Channel Market Share Analysis

7.2.4.5. Spain Furniture Market Outlook

7.2.4.5.1. Market Size & Forecast

7.2.4.5.1.1. By Value

7.2.4.5.2. Market Share & Forecast

7.2.4.5.2.1. By Product Type Market Share Analysis

7.2.4.5.2.2. By Application Market Share Analysis

7.2.4.5.2.3. By Sales Channel Market Share Analysis

8. Asia-Pacific Furniture Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product Type Market Share Analysis

8.2.2. By Application Market Share Analysis

8.2.3. By Sales Channel Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. China Furniture Market Outlook

8.2.4.1.1. Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2. Market Share & Forecast

8.2.4.1.2.1. By Product Type Market Share Analysis

8.2.4.1.2.2. By Application Market Share Analysis

8.2.4.1.2.3. By Sales Channel Market Share Analysis

8.2.4.2. India Furniture Market Outlook

8.2.4.2.1. Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2. Market Share & Forecast

8.2.4.2.2.1. By Product Type Market Share Analysis

8.2.4.2.2.2. By Application Market Share Analysis

8.2.4.2.2.3. By Sales Channel Market Share Analysis

8.2.4.3. Japan Furniture Market Outlook

8.2.4.3.1. Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2. Market Share & Forecast

8.2.4.3.2.1. By Product Type Market Share Analysis

8.2.4.3.2.2. By Application Market Share Analysis

8.2.4.3.2.3. By Sales Channel Market Share Analysis

8.2.4.4. Australia Furniture Market Outlook

8.2.4.4.1. Market Size & Forecast

8.2.4.4.1.1. By Value

8.2.4.4.2. Market Share & Forecast

8.2.4.4.2.1. By Product Type Market Share Analysis

8.2.4.4.2.2. By Sales Channel Market Share Analysis

8.2.4.5. South Korea Furniture Market Outlook

8.2.4.5.1. Market Size & Forecast

8.2.4.5.1.1. By Value

8.2.4.5.2. Market Share & Forecast

8.2.4.5.2.1. By Product Type Market Share Analysis

8.2.4.5.2.2. By Application Market Share Analysis

8.2.4.5.2.3. By Sales Channel Market Share Analysis

8.2.4.6. Indonesia Furniture Market Outlook

8.2.4.6.1. Market Size & Forecast

8.2.4.6.1.1. By Value

8.2.4.6.2. Market Share & Forecast

8.2.4.6.2.1. By Product Type Market Share Analysis

8.2.4.6.2.2. By Application Market Share Analysis

8.2.4.6.2.3. By Sales Channel Market Share Analysis

9. Middle East & Africa Furniture Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product Type Market Share Analysis

9.2.2. By Application Market Share Analysis

9.2.3. By Sales Channel Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. South Africa Furniture Market Outlook

9.2.4.1.1. Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2. Market Share & Forecast

9.2.4.1.2.1. By Product Type Market Share Analysis

9.2.4.1.2.2. By Application Market Share Analysis

9.2.4.1.2.3. By Sales Channel Market Share Analysis

9.2.4.2. Saudi Arabia Furniture Market Outlook

9.2.4.2.1. Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2. Market Share & Forecast

9.2.4.2.2.1. By Product Type Market Share Analysis

9.2.4.2.2.2. By Application Market Share Analysis

9.2.4.2.2.3. By Sales Channel Market Share Analysis

9.2.4.3. UAE Furniture Market Outlook

9.2.4.3.1. Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2. Market Share & Forecast

9.2.4.3.2.1. By Product Type Market Share Analysis

9.2.4.3.2.2. By Application Market Share Analysis

9.2.4.3.2.3. By Sales Channel Market Share Analysis

9.2.4.4. Turkey Furniture Market Outlook

9.2.4.4.1. Market Size & Forecast

9.2.4.4.1.1. By Value

9.2.4.4.2. Market Share & Forecast

9.2.4.4.2.1. By Product Type Market Share Analysis

9.2.4.4.2.2. By Application Market Share Analysis

9.2.4.4.2.3. By Sales Channel Market Share Analysis

10. South America Furniture Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product Type Market Share Analysis

10.2.2. By Application Market Share Analysis

10.2.3. By Sales Channel Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Argentina Furniture Market Outlook

10.2.4.1.1. Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2. Market Share & Forecast

10.2.4.1.2.1. By Product Type Market Share Analysis

10.2.4.1.2.2. By Application Market Share Analysis

10.2.4.1.2.3. By Sales Channel Market Share Analysis

10.2.4.2. Colombia Furniture Market Outlook

10.2.4.2.1. Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2. Market Share & Forecast

10.2.4.2.2.1. By Product Type Market Share Analysis

10.2.4.2.2.2. By Application Market Share Analysis

10.2.4.2.2.3. By Sales Channel Market Share Analysis

10.2.4.3. Brazil Furniture Market Outlook

10.2.4.3.1. Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2. Market Share & Forecast

10.2.4.3.2.1. By Product Type Market Share Analysis

10.2.4.3.2.2. By Application Market Share Analysis

10.2.4.3.2.3. By Sales Channel Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Impact of COVID-19 on Global Furniture Market

12.1. Impact Assessment Model

12.1.1. Key Segments Impacted

12.1.2. Key Distribution Channel Impacted

12.1.3. Key Countries Impacted

13. Market Trends & Developments

14. Competitive Landscape

14.1. Company Profiles

14.1.1. IKEA

14.1.1.1. Company Details

14.1.1.2. Products

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Key Market Focus & Geographical Presence

14.1.1.5. Recent Developments

14.1.1.6. Key Management Personnel

14.1.2. Ashley Furniture Industries Inc.

14.1.2.1. Company Details

14.1.2.2. Products

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Key Market Focus & Geographical Presence

14.1.2.5. Recent Developments

14.1.2.6. Key Management Personnel

14.1.3. RH (Restoration Hardware)

14.1.3.1. Company Details

14.1.3.2. Products

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Key Market Focus & Geographical Presence

14.1.3.5. Recent Developments

14.1.3.6. Key Management Personnel

14.1.4. Williams-Sonoma, Inc.

14.1.4.1. Company Details

14.1.4.2. Products

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Key Market Focus & Geographical Presence

14.1.4.5. Recent Developments

14.1.4.6. Key Management Personnel

14.1.5. La-Z-Boy Inc.

14.1.5.1. Company Details

14.1.5.2. Products

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Key Market Focus & Geographical Presence

14.1.5.5. Recent Developments

14.1.5.6. Key Management Personnel

14.1.6. Raymour & Flanigan

14.1.6.1. Company Details

14.1.6.2. Products

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Key Market Focus & Geographical Presence

14.1.6.5. Recent Developments

14.1.6.6. Key Management Personnel

14.1.7. American Signature

14.1.7.1. Company Details

14.1.7.2. Products

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Key Market Focus & Geographical Presence

14.1.7.5. Recent Developments

14.1.7.6. Key Management Personnel

14.1.8. Oppein Home Group Inc.

14.1.8.1. Company Details

14.1.8.2. Products

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Key Market Focus & Geographical Presence

14.1.8.5. Recent Developments

14.1.8.6. Key Management Personnel

14.1.9. Jason Furniture (HangZhou) Co., Ltd

14.1.9.1. Company Details

14.1.9.2. Products

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Key Market Focus & Geographical Presence

14.1.9.5. Recent Developments

14.1.9.6. Key Management Personnel

14.1.10. Steelcase Inc.

14.1.10.1. Company Details

14.1.10.2. Products

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Key Market Focus & Geographical Presence

14.1.10.5. Recent Developments

14.1.10.6. Key Management Personnel

15. Strategic Recommendations/Action Plan

15.1. Key Focus Areas

15.2. Target Product Type

15.3. Target Sales Channel

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Furniture Market in 2022?

The market size of the Global Furniture Market was estimated to be USD 672.5 Billion in 2022.

What are the major drivers for the Global Furniture Market?

The major drivers for the Global Furniture Market include evolving consumer preferences, the growing importance of sustainability, the rise of online retail, technological innovations, and economic conditions impacting raw material costs and supply chain resilience.

What are the major trends for the Global Furniture Market?

Major trends in the Global Furniture Market include sustainability and eco-friendly designs, the continued growth of online retail, the demand for multifunctional and space-saving furniture, the integration of technology in furniture, global design influences, and the emphasis on personalization and customization to meet diverse consumer preferences.

What are the major challenges for the Global Furniture Market?

Key challenges for the Global Furniture Market include supply chain disruptions and raw material shortages, changing consumer behavior and digital transformation, sustainability pressures and regulatory compliance, the need for continuous design innovation, global economic conditions affecting costs, and the growing emphasis on environmental responsibility.

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Parvati Sharma

Account Manager BD

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Press Release

Furniture Market to Grow with a CAGR of 6.74% Globally through 2028

Dec, 2023

The global furniture market is a dynamic industry characterized by evolving consumer preferences, sustainability trends, and online sales growth, impacting traditional brick-and-mortar stores and sup

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