Furniture Retailing Market worth $722.30 billion by 2030, growing at a CAGR of 5.41% - Exclusive Report by 360iResearch

The "Furniture Retailing Market by Type (Metal Furniture, Wooden Furniture), Distribution Channel (Offline, Online), Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Furniture Retailing Market to grow from USD 499.41 billion in 2023 to USD 722.30 billion by 2030, at a CAGR of 5.41%.

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Furniture retailing refers to the business practice of selling furniture items to consumers. It encompasses a range of activities, including sourcing or manufacturing furniture, maintaining inventory, showcasing an assortment of products in physical or digital storefronts, and facilitating the transaction and delivery of furniture to the end user. Furniture retailers may offer sofas, beds, tables, chairs, and decorative items catering to different styles, budgets, and customer needs. This sector operates through diverse channels, including traditional brick-and-mortar stores, catalogs, and online platforms. Furniture retailing involves understanding consumer trends, preferences, and behavior to effectively market and sell furniture products to individual customers and commercial entities. Increased disposable income, increasing consumer spending on home furnishings, and growing consumer preference for online shopping and eCommerce platforms fuel market growth. Variability in the cost of raw materials, changing consumer trends, and supply chain constraints lead to the risk of obsolescence. Rising inclination towards bespoke furniture, allowing consumers to personalize their purchases, and growing trend-based consumption of eco-friendly and sustainable furniture is expected to gain traction among environmentally conscious consumers.

Application: Rising demand of sustainable furniture for home application

Home furniture comprises items designed for residential spaces, characterized by preferences for comfort, aesthetics, utility, and durability. Consumers often seek personalized solutions that reflect their style and fit within their living spaces. Eco-friendly and multi-functional furniture has also become increasingly popular due to environmental concerns and space constraints in urban homes. Hospitality furniture is tailored for commercial spaces such as hotels, restaurants, cafes, and bars. This segment prioritizes durability, easy maintenance, and design that complements the establishment's theme. The recent increase in boutique hotels and themed restaurants has further diversified the demand for unique and custom furniture solutions. Office furniture is selected with productivity, comfort, and ergonomics in mind, as these factors directly impact employee well-being and efficiency. In recent years, there's been a shift towards flexible and adaptable furniture that accommodates remote working trends and changing office layouts. In the comparative analysis of these application segments, it is evident that each caters to a specific set of needs and preferences. While home furniture is more personal and style-driven, hospitality furniture focuses on creating a memorable guest experience, and office furniture emphasizes productivity and ergonomics.

Type: Rising popularity of wooden furniture for the residential interiors

Metal furniture is a popular choice in modern and industrial design settings. It includes steel-framed sofas, aluminum tables, and wrought iron patio pieces. There's a need-based preference for metal furniture in contexts requiring durability, modern aesthetics, and minimal maintenance. This type of furniture is often seen in outdoor settings due to its resistance to the elements and in commercial environments for its longevity. Wooden furniture has long been cherished for its classic appeal and natural beauty. It includes a range of products, including hand-crafted mahogany desks, oak dining sets, and maple bedroom furniture. There is a growing preference for wooden furniture among consumers looking for warmth, tradition, and craftsmanship in their interior spaces. It's a particularly popular choice for residential interiors and in settings where a homely, cozy atmosphere is desired. Metal furniture typically offers a more contemporary look and is favored for its strength and ease of maintenance. It is especially practical in busy commercial settings or outdoors. Conversely, wooden furniture brings a sense of warmth and natural beauty to spaces, creating a traditional and inviting environment. It's preferred in residential settings and places where comfort and aesthetics are paramount.

Distribution Channel: Significant preference for offline channel owing to presence of in-person sales staff for personalized advice and customer service

Offline distribution encompasses traditional brick-and-mortar stores, which may range from large furniture showrooms to smaller, specialized boutiques. The physical retailing environment allows consumers to address their need for tactile interaction with furniture products. Shoppers value the opportunity to assess items' comfort, material quality, and design in person. Online distribution includes furniture sales through e-commerce platforms, company websites, and other digital marketplaces. This channel enables consumers to shop from the comfort of their homes and access more products than what is commonly available in physical stores. In comparing offline and online channels, it becomes evident that while offline retail still presents crucial opportunities for customer engagement and immediate satisfaction, online channels continually expand their reach through convenience and technological integration.

Regional Insights:

A strong presence of both large-scale retailers and small, independent boutiques characterizes the furniture retailing market in the Americas. Consumer preferences have slowly shifted towards eco-friendly and sustainable products, influencing retailers to adjust their product offerings accordingly. The U.S. market significantly contributes to the region's revenue, with key trends including the growing popularity of online furniture retail and the direct-to-consumer model. Customization options and integrated home design services are becoming increasingly important selling points. The Asia-Pacific region boasts rapid growth, attributed to increasing urbanization, a growing middle class, and heightened demand for residential furniture. Countries such as China and India are pivotal markets due to their large populations and evolving consumer lifestyles. E-commerce has also seen remarkable growth in APAC, with platforms like Alibaba and Flipkart dominating the online space. Furthermore, there is a rising trend towards multifunctional furniture in response to the urban space constraints experienced in many APAC cities. The EMEA region presents a diverse furniture retailing landscape. Western Europe maintains a mature market focusing on design and quality. The Middle East is seeing increased demand for luxury furniture, aligned with high disposable incomes and large-scale development projects. Africa, while currently a smaller player, has burgeoning prospects due to urbanization and a youthful consumer base. U.K.

Market Segmentation & Coverage:

This research report categorizes the Furniture Retailing Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Metal Furniture and Wooden Furniture. The Wooden Furniture is projected to witness significant market share during forecast period.

Based on Distribution Channel, market is studied across Offline and Online. The Offline is further studied across Flagships Stores, Home Centers, and Specialty Stores. The Offline is projected to witness significant market share during forecast period.

Based on Application, market is studied across Home Furniture, Hospitality Furniture, and Office Furniture. The Office Furniture is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.38% in 2023, followed by Europe, Middle East & Africa.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Furniture Retailing Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Furniture Retailing Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Furniture Retailing Market, highlighting leading vendors and their innovative profiles. These include Ashley Furniture Industries, LLC, Bush Industries, Inc., DFS Furniture PLC, Dorel Home, Flexsteel Industries, Inc., Freedom by Greenlit Brands, Furniture Mart USA, Inc., H Furniture Ltd., Inter IKEA Systems B.V., J Sainsbury PLC, Kingfisher PLC, Lars Larsen Group, Lawrence Walsh Limited, Loaf, Maisons du Monde, Otto GmbH & Co KG, Panel Systems Unlimited, Inc., Prepac Manufacturing Ltd., Sauder Woodworking Co., Sherrill Furniture Company, Simplicity Sofas, Inc., South Shore Industries Ltd., Sunwe Luxury Living By Hong Kong Sunwe Living Co., Ltd., Whalen LLC, and XXXLutz KG.

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Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Furniture Retailing Market, by Type
7. Furniture Retailing Market, by Distribution Channel
8. Furniture Retailing Market, by Application
9. Americas Furniture Retailing Market
10. Asia-Pacific Furniture Retailing Market
11. Europe, Middle East & Africa Furniture Retailing Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Furniture Retailing Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Furniture Retailing Market?
3. What is the competitive strategic window for opportunities in the Furniture Retailing Market?
4. What are the technology trends and regulatory frameworks in the Furniture Retailing Market?
5. What is the market share of the leading vendors in the Furniture Retailing Market?
6. What modes and strategic moves are considered suitable for entering the Furniture Retailing Market?

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