Global Furniture Market Report and Forecast 2024-2032

Global Furniture Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global furniture market is projected to grow at a CAGR of 4.9% between 2024 and 2032. Aided by the surging global housing market and the growing propensity for home improvement and interior design, the market is expected to grow significantly by 2032.

Furniture, essential in residential, commercial, and institutional spaces, comprises various movable objects that support human activities such as seating, sleeping, working, and storing items. Beyond mere functionality, furniture also holds aesthetic and design significance, often regarded as a form of decorative art.

The ever-increasing urbanisation and growth of the middle-class population are the key furniture market trends driving the market growth. As urban populations swell and living standards rise, so does the demand for a broad spectrum of furniture products, from basic and affordable to high-end and luxury options.

The digital transformation, already a powerful factor in numerous industries, has become a significant influencer in the world of furniture. E-commerce platforms have made it remarkably easy for consumers to browse, select, and purchase furniture from the comfort of their homes. Moreover, the COVID-19 pandemic’s boost to online shopping trends is likely to have a lasting impact, with e-commerce expected to remain a dominant channel for furniture market demand.

A growing awareness of environmental issues and a burgeoning interest in sustainability are leading to increased demand for eco-friendly furniture. Consumers are now more informed and are seeking products made from sustainably sourced materials, recycled elements, or furniture produced using practices that have a lesser environmental impact.

Today's consumers, particularly millennials and Gen Z, are showing a keen interest in furniture that can be customised. This includes not only the dimensions and functionality of a piece but also its aesthetics, including colour, finish, and design elements.

The revival of traditional craftsmanship and local designs, fuelled by consumers' desire for unique and authentic items, is also expected to shape the industry. As consumers increasingly turn away from mass-produced items, the demand for artisanal and locally-produced furniture may surge, which, in turn, is likely to advance the furniture market growth in the forecast period.

Market Segmentation

The market can be divided based on type, end-use, distribution channel, and region.

Market Breakup by Type

• Metal
• Wood
• Plastic
• Glass
• Others

Market Breakup by End-Use

• Residential
• Commercial

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global furniture market. Some of the major players explored in the report by Expert Market Research are as follows:

• Steelcase Inc.
• Haworth Inc.
• Kinnarps AB
• Poltrona Frau S.p.a.
• VITRA INTERNATIONAL AG
• Knoll®, Inc.
• NOWY STYL Sp. z o.o.
• Design Holding Group
• Nitori Co., Ltd.
• Hooker Furnishings
• Natuzzi S.p.A.
• Ethan Allen Global, Inc.

About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.