Upholstered Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Upholstered Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Upholstered furniture is one of the fastest-growing segments among the global furniture industry. The upholstered furniture is the products where fabric is in close contact with padding materials such as seats and other internal surfaces. Trade of upholstered furniture resumed after the recession in 2019. An increase in consumers' purchasing power has led to the development of this market in leaps and bounds. Improvements in the standard of living of people and changing lifestyles are also driving the demand for such furniture in the market. Increase in building construction is also supporting the industry as new homes are built, they have new furniture requirements too.

The popularity of modern and contemporary furniture is expected to favor the market over traditional 3-piece suites. Other trends include modular and flexible furniture that allows consumers to have open living areas and spaces. There are numerous innovations and developments in the fabric industry that are driving the selection of upholstered fabric among consumers.

In terms of color, neutral and plain color fabrics stand at the core and are expected to remain popular in the medium term in many parts of Europe. Grey, beige, and cream shade fabrics are preferred by consumers in the upholstered furniture market.

Key Market TrendsThe United States and Europe are Net Importers of Upholstered Furniture Products

The openness of US and North American markets toward foreign products acts as the main growth instrument for upholstered furniture, and this has been driving international trade for all these years. The market for upholstered furniture in the United States rapidly grew after the global recession. Only a few large and technologically equipped companies in the United States tend to supply the bulk of exports. Chairs and tables, among the furniture products, are the main imports by the US market. After the United States, Germany is the largest market for upholstered furniture in Europe. Germany is also a net importer followed by countries, like France, the United Kingdom, and Switzerland.

Asia-Pacific is Dominating the Market, with China Leading the Upholstered Furniture Production

Asia-Pacific region accounted for the largest revenue share in the global upholstered furniture market. It is also the region witnessing the largest production of upholstered furniture in the world. China is the top producer of fabrics that are utilized in various segments of fabric applications, along with being the leading exporter of the upholstered furniture in the globe. China, India, and Indonesia are among the fastest-growing areas in this region for upholstered furniture. China has experienced a large increase in the production of upholstered furniture in the past decade. The region also holds more than half of the share in the manufacturing of the upholstered furniture, followed by Europe and North- America, while other regions hold marginal share.

Competitive Landscape

The global upholstered furniture market is fragmented, due to the presence of a large number of small- and large-scale manufacturers in the market. Players, such as retailers, are spending heavily on advertising and promotion, as there is huge competition in the market. Digital e-commerce companies are giving strong competition to traditional retail chains.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Rowe Furniture
England Furniture
DFS Furniture PLC
Norwalk Furniture
Lee Industries
United Furniture Industries Inc.
Mayo Manufacturing Inc.
Hooker Furniture
Palliser Furniture Upholstery Ltd
Ashley HomeStores Ltd
Sherrill Furniture
Other Companies (Lazar, Ekornes ASA, Flexsteel Industries, Inc., Zoy Furniture, and American Furniture Manufacturing)

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