Furniture

Furniture

Global Furniture Market to Reach US$872.5 Billion by 2030

The global market for Furniture estimated at US$574.9 Billion in the year 2023, is expected to reach US$872.5 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. Wood Furniture, one of the segments analyzed in the report, is expected to record a 7.1% CAGR and reach US$335.5 Billion by the end of the analysis period. Growth in the Metal Furniture segment is estimated at 6.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$125.3 Billion While China is Forecast to Grow at 8.4% CAGR

The Furniture market in the U.S. is estimated at US$125.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$159.3 Billion by the year 2030 trailing a CAGR of 8.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.7% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Global Furniture Market - Key Trends & Drivers Summarized

Furniture plays a crucial role in our daily lives, providing comfort, functionality, and aesthetic appeal in both residential and commercial settings. The furniture market encompasses a wide range of products, including living room sofas, dining tables, office desks, chairs, beds, and storage units. Furniture design and manufacturing have evolved significantly, incorporating various materials such as wood, metal, plastic, and glass to cater to diverse tastes and preferences. Ergonomics and functionality have become key considerations, especially in the context of office furniture, where there is a growing emphasis on creating productive and comfortable workspaces. Furniture not only serves practical purposes but also enhances the overall ambiance and style of interiors.

Technological advancements and changing consumer preferences have significantly impacted the furniture industry. Innovations in manufacturing processes, such as computer-aided design (CAD) and 3D printing, have enabled more precise and customized furniture designs. Smart furniture, integrated with features like wireless charging, adjustable settings, and connectivity to smart home systems, is gaining popularity among tech-savvy consumers. Additionally, the rise of e-commerce has transformed the way furniture is sold and purchased, with online platforms offering a wide variety of options and convenient delivery services. Sustainable practices are also influencing the market, with increasing demand for furniture made from eco-friendly materials and production methods that minimize environmental impact.

The growth in the furniture market is driven by several factors, including increasing urbanization, rising disposable incomes, and advancements in furniture technology. The rapid urbanization and expansion of residential and commercial spaces have led to a higher demand for furniture. Rising disposable incomes, particularly in emerging economies, have boosted consumer spending on home and office furnishings. Technological advancements, such as smart furniture and innovative manufacturing techniques, have expanded the range of available products, attracting a broader customer base. Additionally, the trend towards sustainable living has spurred demand for eco-friendly furniture options. As these trends continue to evolve, the furniture market is expected to experience sustained growth, driven by the need for functional, stylish, and sustainable furniture solutions.

Select Competitors (Total 1080 Featured) -

• Ace Hardware Corporation
• Ac Pacific Corporation
• A.R.T. Furniture, Inc.
• AAA State of Play
• Abbyson Living
• Adams Manufacturing
• Agio International Co., Ltd.
• Alfa Dinettes, Inc.
• Alfresco Home LLC
• Allagash Wood Products, Inc.
• American Chair & Seating Corporation
• American Holtzkraft, Inc.
• ACTIU Berbegal y Formas S.A.
• Ak-47 S.R.L.
• 13CASA.COM Srl

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.