Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global furniture market size reached US$ 655.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 685.6 Billion by 2028.
Furniture refers to movable and ergonomic objects, such as chairs, tables, beds, cupboards, desks, sofas, and cabinets, used in residential and commercial places for seating arrangements, storage purposes, and improving the aesthetic value of space. It is manufactured using durable raw materials, including wood, plastics, glass, iron, and marble. Nowadays, manufacturers are offering multi-functional variants in varied colors, sizes, styles, and designs with enhanced aesthetics, comfort, functionality, and storage capacities for offices, homes, and indoor and outdoor areas.
Furniture Market Trends:
The growing global population, rapid urbanization, and rising construction of residential and commercial buildings are among the key factors positively influencing the market. In addition, the expansion of the travel and tourism sector, in confluence with inflating income levels, changing lifestyles, and improving living standards, is increasing the usage of lightweight, versatile, and portable furniture with maximum storage facilities across the globe. Apart from this, the increasing number of nuclear families is propelling the sales of foldable and compact furniture that can be easily arranged in smaller spaces. Besides this, the growing number of people suffering from postural dysfunction is catalyzing the demand for ergonomically designed furniture to prevent health and posture problems among children and adults. Furthermore, the easy availability of innovative products through online shopping platforms is propelling market growth. Moreover, leading manufacturers are coming up with new designs and collaborating with interior designers to expand their market reach and capture a wider customer base. They are also introducing sustainable furniture made from recycled items, such as salvaged wood, textiles, and wood pallets, which is anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global furniture market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, distribution channel and end use.
Breakup by Material:
Metal
Wood
Plastic
Glass
Others
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
Breakup by End Use:
Residential
Commercial
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Durham Furniture Inc., Haworth Inc. (Haworth International Ltd.), Heritage Home Group LLC, HNI Corporation, Inter IKEA Systems B.V. (Interogo Foundation), Kimball International Inc., Kohler Co., Masco Corporation, Okamura Corporation, Steelcase Inc. and Stickley Furniture Inc.
The global furniture market size reached US$ 655.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 685.6 Billion by 2028.
Furniture refers to movable and ergonomic objects, such as chairs, tables, beds, cupboards, desks, sofas, and cabinets, used in residential and commercial places for seating arrangements, storage purposes, and improving the aesthetic value of space. It is manufactured using durable raw materials, including wood, plastics, glass, iron, and marble. Nowadays, manufacturers are offering multi-functional variants in varied colors, sizes, styles, and designs with enhanced aesthetics, comfort, functionality, and storage capacities for offices, homes, and indoor and outdoor areas.
Furniture Market Trends:
The growing global population, rapid urbanization, and rising construction of residential and commercial buildings are among the key factors positively influencing the market. In addition, the expansion of the travel and tourism sector, in confluence with inflating income levels, changing lifestyles, and improving living standards, is increasing the usage of lightweight, versatile, and portable furniture with maximum storage facilities across the globe. Apart from this, the increasing number of nuclear families is propelling the sales of foldable and compact furniture that can be easily arranged in smaller spaces. Besides this, the growing number of people suffering from postural dysfunction is catalyzing the demand for ergonomically designed furniture to prevent health and posture problems among children and adults. Furthermore, the easy availability of innovative products through online shopping platforms is propelling market growth. Moreover, leading manufacturers are coming up with new designs and collaborating with interior designers to expand their market reach and capture a wider customer base. They are also introducing sustainable furniture made from recycled items, such as salvaged wood, textiles, and wood pallets, which is anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global furniture market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, distribution channel and end use.
Breakup by Material:
Metal
Wood
Plastic
Glass
Others
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
Breakup by End Use:
Residential
Commercial
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Durham Furniture Inc., Haworth Inc. (Haworth International Ltd.), Heritage Home Group LLC, HNI Corporation, Inter IKEA Systems B.V. (Interogo Foundation), Kimball International Inc., Kohler Co., Masco Corporation, Okamura Corporation, Steelcase Inc. and Stickley Furniture Inc.
Table of Contents
143 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Furniture Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Material
- 6.1 Metal
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Wood
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Plastic
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Glass
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 7 Market Breakup by Distribution Channel
- 7.1 Supermarkets and Hypermarkets
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Specialty Stores
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Online Stores
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 8 Market Breakup by End Use
- 8.1 Residential
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Commercial
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Durham Furniture Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Haworth Inc. (Haworth International Ltd.)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 SWOT Analysis
- 14.3.3 Heritage Home Group LLC
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 HNI Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Inter IKEA Systems B.V. (Interogo Foundation)
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.6 Kimball International Inc.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Kohler Co.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 SWOT Analysis
- 14.3.8 Masco Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Okamura Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.10 Steelcase Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Stickley Furniture Inc.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
Pricing
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