Home Office Furniture Market Poised for Growth Amidst Increasing Demand for Office Spaces || HNI Corporation, Ashley Furniture Industries Inc, Steelcase Inc

As per The Business Research Company's Home Office Furniture Opportunities And Strategies Market Report 2023, the global home office furniture market reached a value of nearly $29,001.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 10.4% since 2017. The market is expected to grow from $29,001.6 million in 2022 to $43,165.4 million in 2027 at a rate of 8.3%. The market is then expected to grow at a CAGR of 8.4% from 2027 and reach $64,750.6 million in 2032.

During the forecast period, the rising demand for office spaces will support the growth of the home office furniture market. The increased demand for the products/services of expanding companies and businesses refers to an organization's efforts to expand or widen its range of operations and boost revenue. For instance, according to a study conducted on 500 UK-based small and medium-sized enterprises (SMEs) in October 2022 conducted by Airwallex, a UK-based fintech company, in 2023, 70% of businesses plan to expand into or even further expand into foreign markets.

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The use of natural materials in making furniture products is gaining importance in the home office furniture market to reduce its carbon footprint. The use of natural materials minimizes waste by providing biodegradability and recyclable qualities. Companies operating in the home office furniture market are focusing on developing eco-friendly products. For instance, in March 2022, Steelcase Inc, a US-based furniture manufacturer, introduced Personality Plus, the manifestation of a redesign process using fewer materials to deliver more performance.

The top opportunities in the home office furniture market segmented by product will arise in the sitting segment, which will gain $6,387.7 million of global annual sales by 2027. The top opportunities in the home office furniture market segmented by material industry will arise in the wood segment, which will gain $7,881.1 million of global annual sales by 2027. The top opportunities in the home office furniture market segmented by price will arise in the mid-range segment, which will gain $6,045.4 million of global annual sales by 2027. The top opportunities in the home office furniture market segmented by distribution channel will arise in the specialty stores segment, which will gain $6,205.8 million of global annual sales by 2027. The home office furniture market size will gain the most in the USA at $4,708.6 million.

Home Office Furniture Market Segmentation:
The home office furniture market is segmented by product, by material, by price and by distribution channel.

By Product -
a) Seating
b) Storage Units
c) Desks And Tables
d) Other Products

By Material -
a) Wood
b) Metal
c) Plastic
d) Other Materials

By Price -
a) Premium
b) Mid-range
c) Economical

By Distribution Channel -
a) Flagship Stores
b) Specialty Stores
c) Online
d) Other Distribution Channels

Major players in the home office furniture market include HNI Corporation, Ashley Furniture Industries Inc, Steelcase Inc, MillerKnoll, Inc, KOKUYO Furniture.

The regions covered in the global home office furniture market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Home Office Furniture Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Home Office Furniture Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Home Office Furniture Market, Conclusions And Recommendations
23. Appendix

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