Home Furnishing Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F
The global home furnishing market is anticipated to register an impressive CAGR during the forecast period. The home furnishing market is made up of businesses (organizations, sole proprietors, and partnerships) that sell items intended to enhance the aesthetic appeal and comfort of a home, such as furniture and wall decor. Home furnishing is the decorative arrangement of tangible objects including furniture, furniture accessories, room colors, walls, and ceilings. It can be summed up as thoughtfully arranging decor items in a functional way to produce a welcoming, user-friendly atmosphere.
Furniture, fabrics, flooring, and other things are the primary categories of home decor. Moveable items used to simplify daily life and provide comfort for rest and relaxation are referred to as furniture. The various price points include premium and mass. These are sold in a variety of indoor and outdoor application locations and are supplied through supermarkets, hypermarkets, specialty shops, e-commerce, and other outlets.
The market for home furnishings is expanding healthily as a result of rising disposable incomes, a rebound in the real estate sector, rising rates of globalization, and increased consumer awareness. A growing number of new households have been established as a result of rising levels of urbanization. A positive effect on the demand for home design products will result from the fact that more than half of the world's population currently resides in urban areas, and that number is anticipated to rise even more in the upcoming years. Additionally, home furnishings products are variable in nature and anticipated a continuous rise in global disposable income over the coming years, particularly in developing regions such as Asia, Africa, the Middle East, Eastern Europe, etc.
Additionally, it is expected that the rising homeownership rates would have a favorable effect on this market as a result of the recovery of the global real estate sector. The robust success of the online retail industry is another important factor influencing this market. With the advent of online retail, purchasing home decor is now simple, economical, and convenient.
Increasing Internet Penetration Fuels Market Growth
Future market expansion for home furnishing is expected to be fueled by rising smartphone adoption and e-commerce. A smartphone is a portable electronic device that provides access to both the internet and cellular networks. Smartphones are useful for purchasing home decor items from numerous online e-commerce websites, including wall decor, cushions, curtains, and figurines. For instance, India had the highest mobile data consumption rate in the world in October 2021, with 12 gigabytes consumed per month according to The Economic Times, an Indian business journal. India also adds 25 million new smartphone users every three months. Additionally, 6.37 billion people (80.76% of the world's population) will be using smartphones in 2021, according to Bankmycell, a pricing comparison website for mobile phones based in the United States. As a result, the market for home furnishing is expanding as smart gadgets become more widely used.
Strategic Collaborations Propels Market Growth
In the home furnishing industry, strategic partnerships and collaborations have become a prominent trend. Major players in the home decor industry are concentrating on strategic alliances and partnerships to maintain their market share. For instance, Dabito, a designer, photographer, artist, and the creator of Old Brand New, joined forces with Mitzi, a US-based home decor firm, in April 2022. 12 new Mitzi pieces were produced as a result of this cooperation, ranging from wall sconces to chandeliers, and they are all equally sleek, modern, and desirable. Additionally, in April 2022, the late American artist's signature line drawings were used to decorate a collection of 15 chenille rugs and nine doormats made by the innovative washable rug company Ruggable, based in the US, in collaboration with Keith Haring Studio. Each rug from ruggable has a padded base and a top layer that is simply detachable and machine washable.
Increasing Trend of Home Decoration Fuels Market Growth
The interior design of a consumer's house can make an impression on their lifestyle. Home décor items are used in conjunction with other accessories and furnishings to give a home or apartment a more aesthetically pleasant and welcoming appearance. Household furnishings, lamps, linens, floor coverings, pots, antiquities, and other furnishing items are examples of objects used in home decor. With rising urbanization and globalization trends, home decoration has become more popular in both developed and developing economies. Nowadays, consumers may easily and widely access these ornamental objects, patterns, and concepts, owing to globalization. In order to make their homes more aesthetically pleasing and well-organized, homeowners are opting for such products which is driving market growth.
Market Segmentation
The global home furnishing market is segmented into product type, distribution channel, and region. Based on the product type, the market is segmented into home furniture (bed, table, chairs, etc.), home textiles (carpets & rugs, cushions, etc.), wall décor (scenic accent wall, rugged walls). Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online, and others. The market is also divided on the basis of region.
Company Profile
Walmart Inc., Bed Bath & Beyond Inc., IKEA Group, Macy's, Inc., Wayfair LLC, Home Depot Product Authority, LLC, Carrefour, Herman Miller, Inc., Penney IP LLC, Haworth Inc. Ltd are the major market players in the global platform that lead the market of the home furnishing globally.
Report Scope:
In this report, the global home furnishing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Home Furnishing Market, By Product Type:
- Home Furniture
- Home Textile
- Wall decor
- Home Furnishing Market, By Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
- Home Furnishing Market, By Region:
- North America
- The United States
- Canada
- Mexico
- Europe
- Russia
- France
- The United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- Indonesia
- Vietnam
- Middle East & Africa
- Saudi Arabia
- Egypt
- UAE
- Turkey
- South America
- Brazil
- Argentina
- Colombia
Company Profiles: Detailed analysis of the major companies present in the global home furnishing market.
Company Information
- Detailed analysis and profiling of additional market players (up to five).
- 1. Introduction
- 1.1. Product Overview
- 1.2. Key Highlights of the Report
- 1.3. Market Coverage
- 1.4. Market Segments Covered
- 1.5. Research Tenure Considered
- 2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
- 3. Executive Summary
- 3.1. Market Overview
- 3.2. Market Forecast
- 3.3. Key Regions
- 3.4. Key Segments
- 4. Voice of Customer Analysis (B2C Model Analysis)
- 4.1. Sample Size Determination
- 4.1.1. Respondent Demographics
- 4.1.2. By Gender
- 4.1.3. By Age
- 4.1.4. By Occupation
- 4.2. Brand Awareness
- 4.3. Frequency of Usage
- 4.4. Factors Influencing Purchase Decision
- 4.5. Brand Satisfaction
- 4.6. Customer Satisfaction
- 4.7. Challenges Faced Post Purchase
- 5. Global Home Furnishing Market Outlook
- 5.1. Market Size & Forecast
- 5.1.1. By Value
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type Market Share Analysis (Home Furniture (Bed, Table, Chairs, etc.), Home Textiles (Carpets & Rugs, Cushions, etc.), Wall Décor (Scenic Accent Wall, Rugged Walls)
- 5.2.2. By Distribution Channel Market Share Analysis (Supermarkets/Hypermarkets, Specialty Stores, Online, and Others)
- 5.2.3. By Regional Market Share Analysis
- 5.2.3.1. North America Market Analysis
- 5.2.3.2. South America Market Analysis
- 5.2.3.3. Middle East & Africa Market Analysis
- 5.2.3.4. Europe Market Analysis
- 5.2.3.5. Asia -Pacific Market Analysis
- 5.2.4. By Company Market Share Analysis
- 5.3. Global Home Furnishing Market Mapping & Opportunity Assessment
- 5.3.1. By Product Type Market Mapping & Opportunity Assessment
- 5.3.2. By Distribution Channel Market Mapping & Opportunity Assessment
- 5.3.3. By Regional Market Mapping & Opportunity Assessment
- 6. Asia-Pacific Home Furnishing Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type Market Share Analysis
- 6.2.2. By Distribution Channel Market Share Analysis
- 6.2.2.1. China Home Furnishing Market Outlook
- 6.2.2.1.1. Market Size & Forecast
- 6.2.2.1.1.1. By Value
- 6.2.2.1.2. Market Share & Forecast
- 6.2.2.1.2.1. By Product Type Market Share Analysis
- 6.2.2.1.2.2. By Distribution Channel Market Share Analysis
- 6.2.2.2. Japan Home Furnishing Market Outlook
- 6.2.2.2.1. Market Size & Forecast
- 6.2.2.2.1.1. By Value
- 6.2.2.2.2. Market Share & Forecast
- 6.2.2.2.2.1. By Product Type Market Share Analysis
- 6.2.2.2.2.2. By Distribution Channel Market Share Analysis
- 6.2.2.3. India Home Furnishing Market Outlook
- 6.2.2.3.1. Market Size & Forecast
- 6.2.2.3.1.1. By Value
- 6.2.2.3.2. Market Share & Forecast
- 6.2.2.3.2.1. By Product Type Market Share Analysis
- 6.2.2.3.2.2. By Distribution Channel Market Share Analysis
- 6.2.2.4. Indonesia Home Furnishing Market Outlook
- 6.2.2.4.1. Market Size & Forecast
- 6.2.2.4.1.1. By Value
- 6.2.2.4.2. Market Share & Forecast
- 6.2.2.4.2.1. By Product Type Market Share Analysis
- 6.2.2.4.2.2. By Distribution Channel Market Share Analysis
- 6.2.2.5. Vietnam Home Furnishing Market Outlook
- 6.2.2.5.1. Market Size & Forecast
- 6.2.2.5.1.1. By Value
- 6.2.2.5.2. Market Share & Forecast
- 6.2.2.5.2.1. By Product Type Market Share Analysis
- 6.2.2.5.2.2. By Distribution Channel Market Share Analysis
- 7. North America Home Furnishing Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1.1.1.1. By Product Type Market Share Analysis
- 7.2.1.1.1.2. By Distribution Channel Market Share Analysis
- 7.2.1.2. United States Home Furnishing Market Outlook
- 7.2.1.2.1. Market Size & Forecast
- 7.2.1.2.1.1. By Value
- 7.2.1.2.2. Market Share & Forecast
- 7.2.1.2.2.1. By Product Type Market Share Analysis
- 7.2.1.2.2.2. By Distribution Channel Market Share Analysis
- 7.2.1.3. Canada Home Furnishing Market Outlook
- 7.2.1.3.1. Market Size & Forecast
- 7.2.1.3.1.1. By Value
- 7.2.1.3.2. Market Share & Forecast
- 7.2.1.3.2.1. By Product Type Market Share Analysis
- 7.2.1.3.2.2. By Distribution Channel Market Share Analysis
- 7.2.1.4. Mexico Home Furnishing Market Outlook
- 7.2.1.4.1. Market Size & Forecast
- 7.2.1.4.1.1. By Value
- 7.2.1.4.2. Market Share & Forecast
- 7.2.1.4.2.1. By Product Type Market Share Analysis
- 7.2.1.4.2.2. By Distribution Channel Market Share Analysis
- 8. Europe Home Furnishing Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1.1.1.1. By Product Type Market Share Analysis
- 8.2.1.1.1.2. By Distribution Channel Market Share Analysis
- 8.2.1.2. Russia Home Furnishing Market Outlook
- 8.2.1.2.1. Market Size & Forecast
- 8.2.1.2.1.1. By Value
- 8.2.1.2.2. Market Share & Forecast
- 8.2.1.2.2.1. By Product Type Market Share Analysis
- 8.2.1.2.2.2. By Distribution Channel Market Share Analysis
- 8.2.1.3. Italy Home Furnishing Market Outlook
- 8.2.1.3.1. Market Size & Forecast
- 8.2.1.3.1.1. By Value
- 8.2.1.3.2. Market Share & Forecast
- 8.2.1.3.2.1. By Product Type Market Share Analysis
- 8.2.1.3.2.2. By Distribution Channel Market Share Analysis
- 8.2.1.4. France Home Furnishing Market Outlook
- 8.2.1.4.1. Market Size & Forecast
- 8.2.1.4.1.1. By Value
- 8.2.1.4.2. Market Share & Forecast
- 8.2.1.4.2.1. By Product Type Market Share Analysis
- 8.2.1.4.2.2. By Distribution Channel Market Share Analysis
- 8.2.1.5. Spain Home Furnishing Market Outlook
- 8.2.1.5.1. Market Size & Forecast
- 8.2.1.5.1.1. By Value
- 8.2.1.5.2. Market Share & Forecast
- 8.2.1.5.2.1. By Product Type Market Share Analysis
- 8.2.1.5.2.2. By Distribution Channel Market Share Analysis
- 8.2.1.6. United Kingdom Home Furnishing Market Outlook
- 8.2.1.6.1. Market Size & Forecast
- 8.2.1.6.1.1. By Value
- 8.2.1.6.2. Market Share & Forecast
- 8.2.1.6.2.1. By Product Type Market Share Analysis
- 8.2.1.6.2.2. By Distribution Channel Market Share Analysis
- 9. Middle East & Africa Home Furnishing Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1.1.1.1. By Product Type Market Share Analysis
- 9.2.1.1.1.2. By Distribution Channel Market Share Analysis
- 9.2.1.2. Saudi Arabia Home Furnishing Market Outlook
- 9.2.1.2.1. Market Size & Forecast
- 9.2.1.2.1.1. By Value
- 9.2.1.2.2. Market Share & Forecast
- 9.2.1.2.2.1. By Product Type Market Share Analysis
- 9.2.1.2.2.2. By Distribution Channel Market Share Analysis
- 9.2.1.3. Egypt Home Furnishing Market Outlook
- 9.2.1.3.1. Market Size & Forecast
- 9.2.1.3.1.1. By Value
- 9.2.1.3.2. Market Share & Forecast
- 9.2.1.3.2.1. By Product Type Market Share Analysis
- 9.2.1.3.2.2. By Distribution Channel Market Share Analysis
- 9.2.1.4. UAE Home Furnishing Market Outlook
- 9.2.1.4.1. Market Size & Forecast
- 9.2.1.4.1.1. By Value
- 9.2.1.4.2. Market Share & Forecast
- 9.2.1.4.2.1. By Product Type Market Share Analysis
- 9.2.1.4.2.2. By Distribution Channel Market Share Analysis
- 9.2.1.5. Turkey Home Furnishing Market Outlook
- 9.2.1.5.1. Market Size & Forecast
- 9.2.1.5.1.1. By Value
- 9.2.1.5.2. Market Share & Forecast
- 9.2.1.5.2.1. By Product Type Market Share Analysis
- 9.2.1.5.2.2. By Distribution Channel Market Share Analysis
- 10. South America Home Furnishing Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1.1.1.1. By Product Type Market Share Analysis
- 10.2.1.1.1.2. By Distribution Channel Market Share Analysis
- 10.2.1.2. Brazil Home Furnishing Market Outlook
- 10.2.1.2.1. Market Size & Forecast
- 10.2.1.2.1.1. By Value
- 10.2.1.2.2. Market Share & Forecast
- 10.2.1.2.2.1. By Product Type Market Share Analysis
- 10.2.1.2.2.2. By Distribution Channel Market Share Analysis
- 10.2.1.3. Argentina Home Furnishing Market Outlook
- 10.2.1.3.1. Market Size & Forecast
- 10.2.1.3.1.1. By Value
- 10.2.1.3.2. Market Share & Forecast
- 10.2.1.3.2.1. By Product Type Market Share Analysis
- 10.2.1.3.2.2. By Distribution Channel Market Share Analysis
- 10.2.1.4. Colombia Home Furnishing Market Outlook
- 10.2.1.4.1. Market Size & Forecast
- 10.2.1.4.1.1. By Value
- 10.2.1.4.2. Market Share & Forecast
- 10.2.1.4.2.1. By Product Type Market Share Analysis
- 10.2.1.4.2.2. By Distribution Channel Market Share Analysis
- 10.3. Drivers
- 10.3.1.1. Increasing Internet Penetration
- 10.3.1.2. Growing Partnerships among various Companies
- 10.3.1.3. Increasing Demand of Home Furniture
- 10.3.1.4. Rising Number of Nuclear Families
- 10.3.1.5. Increasing Demand of DIY Products
- 10.4. Challenges
- 10.4.1. Different Generations having Different Preferences
- 10.4.2. Rising Single Person Households
- 10.4.3. Increasing Renting Furniture
- 11. Impact of COVID-19 on Global Home Furnishing Market
- 11.1. Impact Assessment Model
- 11.1.1. Key Segments Impacted
- 11.1.2. Key Regions Impacted
- 11.1.3. Key Countries Impacted
- 11.1.4. Key Distribution Channel Impacted
- 12. Market Trends & Developments
- 12.1. Increasing Trend of Eco-Friendly Fabrics
- 12.2. Rising Online Shopping
- 12.3. Increasing Trend of Rugged Walls
- 12.4. Demand for Doorstep Delivery
- 13. Import & Export Analysis (Furniture)
- 13.1. Top 5 Exporting Countries
- 13.1.1. By Value
- 13.2. Top 5 Importing Countries
- 13.2.1. By Value
- 14. SWOT Analysis
- 14.1. Strengths
- 14.2. Weaknesses
- 14.3. Opportunities
- 14.4. Threats
- 15. Porter’s Five Forces Model
- 15.1. Competition Landscape
- 15.2. Buyer Power
- 15.3. Supplier Power
- 15.4. Threat of New Entrants
- 15.5. Threat of Substitutes
- 16. Competitive Landscape
- 16.1. Competition Outlook
- 16.2. Company Profiles
- 16.2.1. Walmart Inc.
- 16.2.1.1. Company Details
- 16.2.1.2. Products & Services
- 16.2.1.3. Financials (As Reported)
- 16.2.1.4. Key Market Focus & Geographical Presence
- 16.2.1.5. Recent Developments
- 16.2.1.6. Key Management Personnel
- 16.2.2. Bed Bath & Beyond Inc.
- 16.2.2.1. Company Details
- 16.2.2.2. Products & Services
- 16.2.2.3. Financials (As Reported)
- 16.2.2.4. Key Market Focus & Geographical Presence
- 16.2.2.5. Recent Developments
- 16.2.2.6. Key Management Personnel
- 16.2.3. IKEA Group
- 16.2.3.1. Company Details
- 16.2.3.2. Products & Services
- 16.2.3.3. Financials (As Reported)
- 16.2.3.4. Key Market Focus & Geographical Presence
- 16.2.3.5. Recent Developments
- 16.2.3.6. Key Management Personnel
- 16.2.4. Macy's, Inc.
- 16.2.4.1. Company Details
- 16.2.4.2. Products & Services
- 16.2.4.3. Financials (As Reported)
- 16.2.4.4. Key Market Focus & Geographical Presence
- 16.2.4.5. Recent Developments
- 16.2.4.6. Key Management Personnel
- 16.2.5. Wayfair LLC
- 16.2.5.1. Company Details
- 16.2.5.2. Products & Services
- 16.2.5.3. Financials (As Reported)
- 16.2.5.4. Key Market Focus & Geographical Presence
- 16.2.5.5. Recent Developments
- 16.2.5.6. Key Management Personnel
- 16.2.6. Home Depot Product Authority, LLC
- 16.2.6.1. Company Details
- 16.2.6.2. Products & Services
- 16.2.6.3. Financials (As Reported)
- 16.2.6.4. Key Market Focus & Geographical Presence
- 16.2.6.5. Recent Developments
- 16.2.6.6. Key Management Personnel
- 16.2.7. Carrefour
- 16.2.7.1. Company Details
- 16.2.7.2. Products & Services
- 16.2.7.3. Financials (As Reported)
- 16.2.7.4. Key Market Focus & Geographical Presence
- 16.2.7.5. Recent Developments
- 16.2.7.6. Key Management Personnel
- 16.2.8. Herman Miller, Inc.
- 16.2.8.1. Company Details
- 16.2.8.2. Products & Services
- 16.2.8.3. Financials (As Reported)
- 16.2.8.4. Key Market Focus & Geographical Presence
- 16.2.8.5. Recent Developments
- 16.2.8.6. Key Management Personnel
- 16.2.9. Penney IP LLC
- 16.2.9.1. Company Details
- 16.2.9.2. Products & Services
- 16.2.9.3. Financials (As Reported)
- 16.2.9.4. Key Market Focus & Geographical Presence
- 16.2.9.5. Recent Developments
- 16.2.9.6. Key Management Personnel
- 16.2.10. Haworth Inc. Ltd
- 16.2.10.1. Company Details
- 16.2.10.2. Products & Services
- 16.2.10.3. Financials (As Reported)
- 16.2.10.4. Key Market Focus & Geographical Presence
- 16.2.10.5. Recent Developments
- 16.2.10.6. Key Management Personnel
- 17. Strategic Recommendations/Action Plan
- 17.1. Key Focus Areas
- 17.2. Target Regions
- 17.3. Target Product Type
- 17.4. Target Distribution Channel
- 18. About Disclaimer & Disclaimer
- (Note: The companies list can be customized based on the client requirements.)
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