United States Furniture Market Report and Forecast 2024-2032

United States Furniture Market Report and Forecast 2024-2032

United States Furniture Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the United States furniture market size reached a value of USD 37.28 billion in 2023. Aided by the burgeoning demand for home furnishings driven by increasing residential construction and a robust shift toward home office setups, the market is projected to further grow at a CAGR of 3.1% between 2024 and 2032 to reach a value of USD 49.41 billion by 2032.

Furniture in the United States encompasses a wide range of products designed for residential, office, and commercial spaces, including sofas, beds, desks, and various other furnishing essentials. This sector is crucial not only for its economic impact but also for its role in the everyday lives of consumers, enhancing comfort, functionality, and the aesthetic appeal of living spaces.

The United States furniture market growth is primarily fuelled by the evolving consumer lifestyles and the increasing inclination towards aesthetically pleasing and functional furniture. This trend is supported by rising incomes and the proliferation of single-family homes, which typically require more furniture per household compared to multi-family units.

The surge in remote working trends, particularly highlighted by the recent shifts due to the COVID-19 pandemic, has significantly driven the demand for home office furniture. As per the United States furniture market analysis, this segment has seen a notable increase in demand for ergonomic chairs, desks, and storage solutions as consumers seek to create comfortable and productive work environments at home.

Moreover, the real estate market's rebound, with a focus on residential construction, renovation, and remodelling activities, continues to be a significant driver for the furniture market. The desire for customised and premium furniture pieces among new homeowners is also contributing to the United States furniture market expansion.

There is an increasing consumer demand for sustainable and environmentally friendly furniture. This trend is driven by greater awareness of environmental issues and a growing consumer preference for products made from renewable resources, recycled materials, or sourced through sustainable practices. Furniture manufacturers are responding by using certified sustainable wood, non-toxic finishes, and recycled materials such as plastic and metal. As per the United States furniture market outlook, there is a focus on producing durable products that offer longevity, reducing the need for frequent replacements and thereby minimising waste.

As urban living spaces become smaller, there is a growing need for multipurpose and space-saving furniture. Consumers are looking for furniture that is not only stylish but also functional and efficient in utilising space. Examples include beds with storage compartments, expandable dining tables, and convertible sofas. This trend is especially relevant in urban areas, where living spaces are often limited.

Consumers in the furniture market in the United States are increasingly seeking furniture that can be customised to their tastes and needs. This includes options for selecting materials, finishes, and sizes. The desire for personalised furniture is particularly prominent among Millennials and Generation Z consumers, who value individuality and personal expression in their living spaces. Furniture companies are leveraging technology such as augmented reality (AR) to help consumers visualize how customised pieces would look in their homes before making a purchase.

Looking ahead, the United States furniture market share is set to continue its growth trajectory. The ongoing trends of home personalisation and increased spending on home décor are expected to drive the market. Furthermore, technological advancements such as the integration of smart technology in furniture and the growing popularity of multi-functional furniture are anticipated to offer new opportunities for growth.

Market Segmentation

The market can be divided based on material, product, application, distribution channel, and region.

Market Breakup by Material

• Metal
• Wood
• Plastic
• Glass
• Others

Market Breakup by Product

• Beds
• Tables and Desks
• Chairs and Stools
• Cabinet and Shelves
• Sofa and Couch
• Others

Market Breakup by Application

• Residential
• Commercial

Market Breakup by Distribution Channel

• Home Centres
• Flagships Stores
• Speciality Stores
• Online

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

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 United States furniture market. Some of the major players explored in the report by Expert Market Research are as follows:

• MillerKnoll Inc. (Herman Miller)
• Steelcase Inc.
• La-Z-Boy Incorporated
• Haworth Inc.
• Ashley Furniture Industries, LLC
• Kimball International Inc.
• Okamura Corporation
• Inter IKEA Systems B.V.
• Williams-Sonoma Inc.
• American Signature, Inc.
• Others

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*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.