United States (USA) Furniture Market Overview, 2028

United States (USA) Furniture Market Overview, 2028

The furniture market in the United States is one of the largest in the world. It went through cycles of expansion and contraction as a result of economic conditions, consumer expenditure, and housing market patterns. Because of its low cost and compact design, ready-to-assemble (RTA) furniture is becoming increasingly popular among homeowners and renters. RTA furniture, often known as flat-pack furniture, is not built by the manufacturer and is sold in pieces with assembly instructions. The increased demand for multipurpose furniture is likely to boost the furniture market in the United States. Real estate prices have dropped dramatically, resulting in a major reduction in housing sizes. Customers are increasingly looking for compact and easily movable furniture to make the most of the available space as rooms become smaller to meet such standards. The United States is a culturally varied country with a wide range of interests and preferences when it comes to furniture. Different areas and demographic groups have different styles and design preferences, resulting in a wide and eclectic market. The furniture market is significantly influenced by the lifestyles and fashions of American consumers. Trends such as open-concept living spaces, multi-functional furniture, and a focus on comfort and convenience have a substantial impact on product design and offerings. The housing market in the United States is critical to the furniture industry. The cyclical nature of the property market, with its ups and downs, has a direct impact on furniture demand as new homes are furnished and older homes are repaired or redecorated. The United States has a tradition of encouraging design innovation, which extends to the furniture sector. American designers and manufacturers are frequently at the forefront of developing new trends and pushing the boundaries of furniture design.

According to the research report ""United States Furniture Market Overview, 2028,"" published by Bonafide Research, the United States Furniture market was valued at USD 132.98 Billion in 2022. With more people selecting trendy and high-quality furniture because they have more money and a better way of life, the US furniture sector is anticipated to witness higher development in both domestic sales and exports. The average yearly expenditure on furniture per consumer unit climbed from USD 350 in 2010 to USD 710 in 2021, reflecting the market's steady expansion. The United States is a melting pot of civilizations, resulting in a wide diversity of design tastes and styles. This cultural diversity contributes to a thriving and diverse furniture market as consumers seek out a variety of furniture styles, materials, and aesthetics. Personalization is highly prized by American consumers. Furniture brands provide a wide range of customizable options, allowing individuals to adapt their furniture to their specific preferences and needs. Mid-century modern furniture design began in the mid-twentieth century and is still quite fashionable today. This style, which was influenced by designers such as Charles and Ray Eames, Eero Saarinen, and George Nelson, is distinguished by clean lines, organic shapes, and a focus on usefulness. Iconic pieces such as the Eames Lounge Chair and Ottoman and the Saarinen Tulip Table have stood the test of time. Furthermore, the Shaker style is distinguished by its simple, utilitarian, and minimalist features. Shaker furniture's clean lines and handcrafted quality have left an indelible mark on American design sensibilities. This timeless style is exemplified by the Shaker ladder-back chair and trestle table.

Based on material market is divided into wood, metal, plastic, glass, and others. Natural materials like wood provide warmth, character, and a classic aesthetic appeal. Because different types of wood have distinctive grains, hues, and textures, there are many design options available to accommodate different tastes and interior styles. Wood may be shaped into a variety of forms, sizes, and styles because it is a versatile material. To make complex and one-of-a-kind designs, it can be carved, bent, turned, and linked in many ways. Black cherry, black walnut, maple, and oak are a few examples of common woods used in furniture in the United States. Based on product type market is majorly segmented into beds, tables & desks, sofa & couch, chairs & stools, cabinets & shelves, and others. Among them market is majorly dominated by beds with significant market share. In every home, a bed is a fundamental and necessary piece of furniture. Everybody needs a place to sleep, and a supportive bed is essential for a restful night's sleep and general wellbeing. The need for supportive and ergonomic mattresses has increased as individuals emphasize their health and comfort. The industry has grown due to the popularity of adjustable beds, memory foam mattresses, and other specialty sleep items. New bed products are in high demand due to developments in sleep technology, such as smart beds with programmable settings and sleep tracking capabilities.

Based on category market is segmented into indoor and outdoor. Indoor category is leading the market of United States furniture market. The importance of indoor furniture in establishing a comfortable and visually pleasing living space cannot be overstated. People spend a lot of time indoors, whether at home or at work, and they prioritize outfitting these places to ensure comfort and functionality. The vast majority of Americans live in houses or apartments, which require interior furnishings to be habitable. Indoor furniture is in high demand as individuals move into new homes or modify existing ones. There are considerable seasonal differences in weather in many parts of the United States, with colder winters and hotter summers. This may encourage consumers to spend more money on developing comfortable indoor surroundings. Furthermore, the application of the market includes residential, office, hotel, and others (hospital furniture). Furniture is commonly used in residential application and is dominating the market as well. The population of the United States is huge and diversified, with a significant number of households. People frequently need to arrange their living areas when they move into new homes or apartments, which drives demand for residential furniture. The American way of life frequently revolves around home ownership, and interior design and home decor trends play an important part in defining consumer preferences. People update and redecorate their home interiors on a regular basis, resulting in a continual need for new furniture.

Based on distribution channel market is segmented into specialty stores (traditional stores, branded furniture/flagships stores, lifestyle stores, home centers), supermarkets and hypermarkets (department stores, discount department stores), online, and others (office supply stores, buying through a designer). Furniture products are commonly distributed to speciality stores in United States. Furniture products are often delivered to specialty stores in the United States due to a variety of reasons that cater to consumer tastes, company objectives, and market dynamics. These specialized retail locations provide a distinct advantage by offering a selected assortment of furniture selections, individualized shopping experiences, and a thorough understanding of interior design trends. This strategy resonates with American consumers, who value the ability to experience a varied selection of furniture types, materials, and designs in a dedicated location, allowing them to make informed decisions that correspond with their own tastes and home aesthetics. Some of the major specialty stores in the United States that distribute furniture includes, Ashley Furniture HomeStore, Room & Board, Restoration Hardware, IKEA and many more.

Considered in this report:
• Geography: United States
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• United States Furniture market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material:
• Wood
• Metal
• Plastic
• Glass
• Others

By Product:
• Beds
• Tables & Desks
• Sofa & Couch
• Chairs & Stools
• Cabinets & Shelves
• Others

By Category:
• Indoor
• Outdoor

By Application:
• Residential
• Office
• Hotel
• Others (Hospital Furniture)

By Distribution Channel:
• Specialty Stores (Traditional Stores, Branded Furniture/Flagships Stores, Lifestyle Stores, Home Centers)
• Supermarkets and Hypermarkets (Department Stores, Discount Department Stores)
• Online
• Others (Office Supply Stores, Buying Through a Designer)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Furniture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.