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

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Summary

Report Description

The global home furnishing market is anticipated to register an impressive CAGR during the forecast period. The home furnishing market is made up of businesses (organizations, sole proprietors, and partnerships) that sell items intended to enhance the aesthetic appeal and comfort of a home, such as furniture and wall decor. Home furnishing is the decorative arrangement of tangible objects including furniture, furniture accessories, room colors, walls, and ceilings. It can be summed up as thoughtfully arranging decor items in a functional way to produce a welcoming, user-friendly atmosphere.

Furniture, fabrics, flooring, and other things are the primary categories of home decor. Moveable items used to simplify daily life and provide comfort for rest and relaxation are referred to as furniture. The various price points include premium and mass. These are sold in a variety of indoor and outdoor application locations and are supplied through supermarkets, hypermarkets, specialty shops, e-commerce, and other outlets.

The market for home furnishings is expanding healthily as a result of rising disposable incomes, a rebound in the real estate sector, rising rates of globalization, and increased consumer awareness. A growing number of new households have been established as a result of rising levels of urbanization. A positive effect on the demand for home design products will result from the fact that more than half of the world's population currently resides in urban areas, and that number is anticipated to rise even more in the upcoming years. Additionally, home furnishings products are variable in nature and anticipated a continuous rise in global disposable income over the coming years, particularly in developing regions such as Asia, Africa, the Middle East, Eastern Europe, etc.

Additionally, it is expected that the rising homeownership rates would have a favorable effect on this market as a result of the recovery of the global real estate sector. The robust success of the online retail industry is another important factor influencing this market. With the advent of online retail, purchasing home decor is now simple, economical, and convenient.

Increasing Internet Penetration Fuels Market Growth

Future market expansion for home furnishing is expected to be fueled by rising smartphone adoption and e-commerce. A smartphone is a portable electronic device that provides access to both the internet and cellular networks. Smartphones are useful for purchasing home decor items from numerous online e-commerce websites, including wall decor, cushions, curtains, and figurines. For instance, India had the highest mobile data consumption rate in the world in October 2021, with 12 gigabytes consumed per month according to The Economic Times, an Indian business journal. India also adds 25 million new smartphone users every three months. Additionally, 6.37 billion people (80.76% of the world's population) will be using smartphones in 2021, according to Bankmycell, a pricing comparison website for mobile phones based in the United States. As a result, the market for home furnishing is expanding as smart gadgets become more widely used.

Strategic Collaborations Propels Market Growth

In the home furnishing industry, strategic partnerships and collaborations have become a prominent trend. Major players in the home decor industry are concentrating on strategic alliances and partnerships to maintain their market share. For instance, Dabito, a designer, photographer, artist, and the creator of Old Brand New, joined forces with Mitzi, a US-based home decor firm, in April 2022. 12 new Mitzi pieces were produced as a result of this cooperation, ranging from wall sconces to chandeliers, and they are all equally sleek, modern, and desirable. Additionally, in April 2022, the late American artist's signature line drawings were used to decorate a collection of 15 chenille rugs and nine doormats made by the innovative washable rug company Ruggable, based in the US, in collaboration with Keith Haring Studio. Each rug from ruggable has a padded base and a top layer that is simply detachable and machine washable.

Increasing Trend of Home Decoration Fuels Market Growth

The interior design of a consumer's house can make an impression on their lifestyle. Home décor items are used in conjunction with other accessories and furnishings to give a home or apartment a more aesthetically pleasant and welcoming appearance. Household furnishings, lamps, linens, floor coverings, pots, antiquities, and other furnishing items are examples of objects used in home decor. With rising urbanization and globalization trends, home decoration has become more popular in both developed and developing economies. Nowadays, consumers may easily and widely access these ornamental objects, patterns, and concepts, owing to globalization. In order to make their homes more aesthetically pleasing and well-organized, homeowners are opting for such products which is driving market growth.


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Market Segmentation

The global home furnishing market is segmented into product type, distribution channel, and region. Based on the product type, the market is segmented into home furniture (bed, table, chairs, etc.), home textiles (carpets & rugs, cushions, etc.), wall décor (scenic accent wall, rugged walls). Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online, and others. The market is also divided on the basis of region.

Company Profile      

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 are the major market players in the global platform that lead the market of the home furnishing globally.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Product Type

·         Distribution Channel

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, and South America

Country Scope

United States, Canada, Brazil, China, Japan, India, Indonesia, Vietnam, Russia, Italy, France, Spain, United Kingdom, Saudi Arabia, Egypt, UAE, Turkey, Brazil, Argentina, Colombia

Key Companies Profiled

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, etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global home furnishing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •   Home Furnishing Market, By Product Type:
    • Home Furniture
    • Home Textile
    • Wall decor
  •   Home Furnishing Market, By Distribution Channel:
    • Supermarkets/Hypermarkets
    • Specialty Stores
    • Online
    • Others

·           Home Furnishing Market, By Region:

  • North America
    • The United States
    • Canada
    • Mexico
  • Europe
    • Russia
    • France
    • The United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • Indonesia
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • Egypt
    • UAE
    • Turkey
  • South America
    • Brazil
    • Argentina
    • Colombia

 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global home furnishing market.

Available Customizations:

With the given market data, TechSci 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 Home Furnishing 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 Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.1.1.     Respondent Demographics

4.1.2.     By Gender

4.1.3.     By Age

4.1.4.     By Occupation

4.2.  Brand Awareness

4.3.  Frequency of Usage

4.4.  Factors Influencing Purchase Decision

4.5.  Brand Satisfaction

4.6.  Customer Satisfaction

4.7.  Challenges Faced Post Purchase

5.    Global Home Furnishing 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 (Home Furniture (Bed, Table, Chairs, etc.), Home Textiles (Carpets & Rugs, Cushions, etc.), Wall Décor (Scenic Accent Wall, Rugged Walls)

5.2.2.     By Distribution Channel Market Share Analysis (Supermarkets/Hypermarkets, Specialty Stores, Online, and Others)

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         North America Market Analysis

5.2.3.2.         South America Market Analysis

5.2.3.3.         Middle East & Africa Market Analysis

5.2.3.4.         Europe Market Analysis

5.2.3.5.         Asia -Pacific Market Analysis

5.2.4.     By Company Market Share Analysis

5.3.  Global Home Furnishing Market Mapping & Opportunity Assessment

5.3.1.     By Product Type Market Mapping & Opportunity Assessment

5.3.2.     By Distribution Channel Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Home Furnishing 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 Distribution Channel Market Share Analysis

6.2.3.     By Country Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Home Furnishing Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Product Type Market Share Analysis

6.3.1.2.2.             By Distribution Channel Market Share Analysis

6.3.2.     Japan Home Furnishing Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Product Type Market Share Analysis

6.3.2.2.2.             By Distribution Channel Market Share Analysis

6.3.3.     India Home Furnishing Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Product Type Market Share Analysis

6.3.3.2.2.             By Distribution Channel Market Share Analysis

6.3.4.     Indonesia Home Furnishing Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Product Type Market Share Analysis

6.3.4.2.2.             By Distribution Channel Market Share Analysis

6.3.5.     Vietnam Home Furnishing Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Product Type Market Share Analysis

6.3.5.2.2.             By Distribution Channel Market Share Analysis

7.    North America Home Furnishing 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 Distribution Channel Market Share Analysis

7.2.3.     By Country Market Share Analysis

7.3.  North America: Country Analysis

7.3.1.     United States Home Furnishing Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Product Type Market Share Analysis

7.3.1.2.2.             By Distribution Channel Market Share Analysis

7.3.2.     Canada Home Furnishing Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Product Type Market Share Analysis

7.3.2.2.2.             By Distribution Channel Market Share Analysis

7.3.3.     Mexico Home Furnishing Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Product Type Market Share Analysis

7.3.3.2.2.             By Distribution Channel Market Share Analysis

8.    Europe Home Furnishing 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 Distribution Channel Market Share Analysis

8.2.3.     By Country Market Share Analysis

8.3.  Europe: Country Analysis

8.3.1.     Russia Home Furnishing Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Product Type Market Share Analysis

8.3.1.2.2.             By Distribution Channel Market Share Analysis

8.3.2.     Italy Home Furnishing Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Product Type Market Share Analysis

8.3.2.2.2.             By Distribution Channel Market Share Analysis

8.3.3.     France Home Furnishing Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Product Type Market Share Analysis

8.3.3.2.2.             By Distribution Channel Market Share Analysis

8.3.4.     Spain Home Furnishing Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Product Type Market Share Analysis

8.3.4.2.2.             By Distribution Channel Market Share Analysis

8.3.5.     United Kingdom Home Furnishing Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Product Type Market Share Analysis

8.3.5.2.2.             By Distribution Channel Market Share Analysis

9.    Middle East & Africa Home Furnishing 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 Distribution Channel Market Share Analysis

9.2.3.     By Country Market Share Analysis

9.3.  Middle East & Africa: Country Analysis

9.3.1.     Saudi Arabia Home Furnishing Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Product Type Market Share Analysis

9.3.1.2.2.             By Distribution Channel Market Share Analysis

9.3.2.     Egypt Home Furnishing Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Product Type Market Share Analysis

9.3.2.2.2.             By Distribution Channel Market Share Analysis

9.3.3.     UAE Home Furnishing Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Product Type Market Share Analysis

9.3.3.2.2.             By Distribution Channel Market Share Analysis

9.3.4.     Turkey Home Furnishing Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Product Type Market Share Analysis

9.3.4.2.2.             By Distribution Channel Market Share Analysis

10.  South America Home Furnishing 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 Distribution Channel Market Share Analysis

10.2.3.  By Country Market Share Analysis

10.3.              South America: Country Analysis

10.3.1.  Brazil Home Furnishing Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Product Type Market Share Analysis

10.3.1.2.2.           By Distribution Channel Market Share Analysis

10.3.2.  Argentina Home Furnishing Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Product Type Market Share Analysis

10.3.2.2.2.           By Distribution Channel Market Share Analysis

10.3.3.  Colombia Home Furnishing Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Product Type Market Share Analysis

10.3.3.2.2.           By Distribution Channel Market Share Analysis

10.4.              Drivers

10.4.1.1.      Increasing Internet Penetration

10.4.1.2.      Growing Partnerships among various Companies

10.4.1.3.      Increasing Demand of Home Furniture

10.4.1.4.      Rising Number of Nuclear Families

10.4.1.5.      Increasing Demand of DIY Products

10.5.              Challenges

10.5.1.  Different Generations having Different Preferences

10.5.2.  Rising Single Person Households

10.5.3.  Increasing Renting Furniture

11.  Impact of COVID-19 on Global Home Furnishing Market

11.1.              Impact Assessment Model       

11.1.1.  Key Segments Impacted

11.1.2.  Key Regions Impacted

11.1.3.  Key Countries Impacted

11.1.4.  Key Distribution Channel Impacted

12.  Market Trends & Developments

12.1.              Increasing Trend of Eco-Friendly Fabrics

12.2.              Rising Online Shopping

12.3.              Increasing Trend of Rugged Walls

12.4.              Demand for Doorstep Delivery

13.  SWOT Analysis

13.1.              Strengths

13.2.              Weaknesses

13.3.              Opportunities

13.4.              Threats

14.  Porter’s Five Forces Model

14.1.              Competition Landscape

14.2.              Buyer Power

14.3.              Supplier Power

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  Competitive Landscape

15.1.              Competition Outlook

15.2.              Company Profiles

15.2.1.  Walmart Inc.

15.2.1.1.      Company Details

15.2.1.2.      Products & Services

15.2.1.3.      Financials (As Reported)

15.2.1.4.      Key Market Focus & Geographical Presence

15.2.1.5.      Recent Developments

15.2.1.6.      Key Management Personnel

15.2.2.  Bed Bath & Beyond Inc.

15.2.2.1.      Company Details

15.2.2.2.      Products & Services

15.2.2.3.      Financials (As Reported)

15.2.2.4.      Key Market Focus & Geographical Presence

15.2.2.5.      Recent Developments

15.2.2.6.      Key Management Personnel

15.2.3.  IKEA Group

15.2.3.1.      Company Details

15.2.3.2.      Products & Services

15.2.3.3.      Financials (As Reported)

15.2.3.4.      Key Market Focus & Geographical Presence

15.2.3.5.      Recent Developments

15.2.3.6.      Key Management Personnel

15.2.4.  Macy's, Inc.

15.2.4.1.      Company Details

15.2.4.2.      Products & Services

15.2.4.3.      Financials (As Reported)

15.2.4.4.      Key Market Focus & Geographical Presence

15.2.4.5.      Recent Developments

15.2.4.6.      Key Management Personnel

15.2.5.  Wayfair LLC

15.2.5.1.      Company Details

15.2.5.2.      Products & Services

15.2.5.3.      Financials (As Reported)

15.2.5.4.      Key Market Focus & Geographical Presence

15.2.5.5.      Recent Developments

15.2.5.6.      Key Management Personnel

15.2.6.  Home Depot Product Authority, LLC

15.2.6.1.      Company Details

15.2.6.2.      Products & Services

15.2.6.3.      Financials (As Reported)

15.2.6.4.      Key Market Focus & Geographical Presence

15.2.6.5.      Recent Developments

15.2.6.6.      Key Management Personnel

15.2.7.              Carrefour

15.2.7.1.      Company Details

15.2.7.2.      Products & Services

15.2.7.3.      Financials (As Reported)

15.2.7.4.      Key Market Focus & Geographical Presence

15.2.7.5.      Recent Developments

15.2.7.6.      Key Management Personnel

15.2.8.  Herman Miller, Inc.

15.2.8.1.      Company Details

15.2.8.2.      Products & Services

15.2.8.3.      Financials (As Reported)

15.2.8.4.      Key Market Focus & Geographical Presence

15.2.8.5.      Recent Developments

15.2.8.6.      Key Management Personnel

15.2.9.  Penney IP LLC

15.2.9.1.      Company Details

15.2.9.2.      Products & Services

15.2.9.3.      Financials (As Reported)

15.2.9.4.      Key Market Focus & Geographical Presence

15.2.9.5.      Recent Developments

15.2.9.6.      Key Management Personnel

15.2.10.                Haworth Inc. Ltd

15.2.10.1.    Company Details

15.2.10.2.    Products & Services

15.2.10.3.    Financials (As Reported)

15.2.10.4.    Key Market Focus & Geographical Presence

15.2.10.5.    Recent Developments

15.2.10.6.    Key Management Personnel

16.  Strategic Recommendations/Action Plan

16.1.              Key Focus Areas

16.2.              Target Regions

16.3.              Target Product Type

16.4.              Target Distribution Channel

17.  About Disclaimer & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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China produces 39% of the world's furniture, making it the largest producer in the world. Along with China, other nations that produce a lot of furniture include the United States, Germany, Italy, India, Poland, and Japan.

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In comparison to other age groups, Americans aged 35 to 44 spend more on furnishings for their homes. The age group of 45 to 54 is next highest. The average annual spending on furniture by age group is shown in this infographic on residential furniture buying trends.

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People in the mid-life success group are prepared to spend more on furniture if they believe they are getting a good deal. They prefer high-quality, high-performing products, but they also shop about to find the best deals. For them, aesthetics and design are vital.

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The way the house is decorated and presented has a great effect on the atmosphere there. It's critical to pay attention to the décor because it influences the mood of the residents of the home as well. An attractive home is beneficial for reducing tension and anxiety.

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Parvati Sharma

Account Manager BD
Press Release

Home Furnishing Market to be Dominated by North America During the Forecast Period

Nov, 2022

Increasing home ownership, growing the trend of home decoration, and the rising internet penetration are the factors driving the global home furnishing market.

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