Press release
Furniture Stores Global Market Report 2024 - By Trends, Size, Demand, Outlook, Forecast To 2033
Furniture Stores Market
The Business Research Company offers in-depth market insights through Furniture Stores Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The furniture stores market size has grown strongly in recent years. It will grow from $267.67 billion in 2023 to $288.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to housing market trends and homeownership rates, consumer spending and economic conditions, interior design trends and aesthetics, urbanization and small living spaces, population demographics and age groups..
The furniture stores market size is expected to see strong growth in the next few years. It will grow to $385.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to e-commerce and online furniture retail, sustainability and eco-friendly furniture, customization and personalization trends, flexible and multifunctional furniture designs, rising importance of home décor. Major trends in the forecast period include augmented reality for shopping, rise of direct-to-consumer brands, global supply chain challenges, health and wellness in design, experiential retail..
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Market Segmentation:
The furniture stores market covered in this report is segmented -
1) By Material: Wood, Metal, Plastic, Other Material types
2) By Price Range: High End Price Furniture, Medium Price Range Furniture, Low Price Range Furniture
3) By Distribution Channel: Home Centers, Flagships Stores, Specialty Stores, Online, Other Distribution Channels
4) By End-User: Residential, Office, Hotel, Other End-Users
Major Driver - Surging Furniture Demand Ignites Growth In The Furniture Stores Market
The increasing demand for furniture is expected to propel the growth of the furniture stores market going forward. Furniture refers to movable objects intended to support various human activities such as seating, eating, and storing items such as tables, chairs, desks, and cabinets. Due to rowing home decoration and renovation trends among the global population, the demand for furniture is rising which will propel the growth of the furniture stores. For instance, in February 2023, according to a report shared by Hollywood Mirror, a UK-based interior design company, the manufacturing of furniture generated about $3.22 billion. Additionally, in 2021, 5.58 million pieces of wooden bedroom furnishings were sold by UK manufacturers. Therefore, the increasing demand for furniture is driving the growth of the furniture stores market going forward.
Competitive Landscape:
Major companies operating in the furniture stores market report are Steelcase Inc., HNI Corporation, Ashley Furniture Industries Inc., Inter IKEA Systems B.V., Herman Miller Inc., Global Furniture USA, Heritage Home Group LLC, Restoration Hardware Inc., Williams-Sonoma Inc., La-Z-Boy Inc., Raymour and Flanigan Furniture and Mattresses, American Signature Inc., Kimball International Inc., Okamura Corporation, Durham Furniture Inc., Urban Office Interiors Ltd., Furniture Services Inc., Renaissance Furniture Manufacturing, Berkshire Hathaway Inc., Rooms To Go Inc., Ethan Allen Interiors Inc., Havertys Furniture Companies Inc., Bassett Furniture Industries Inc., Bob's Discount Furniture LLC, Value City Furniture Inc., W.S. Badcock Corporation, Jordan's Furniture Inc., Berkshire Hathaway Company, Art Van Furniture Inc., City Furniture Inc., El Dorado Furniture Inc., Kane's Furniture Inc., Baer's Furniture Inc., Slumberland Furniture Inc., The Dump Furniture Outlet, Furniture Marketing Group Inc. .
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Top Trend - Technological Innovation Reshapes The Landscape Of Furniture Stores Market
Technological advancement is a key trend gaining popularity in the furniture stores market. Major market players are concentrating their efforts on creating innovative technologies to strengthen their position in the market. For instance, in June 2022, IKEA, a Sweden-based home furnishings company, launched IKEA Kreativ, an AI-powered experience empowering customers to create lifelike room designs. IKEA Kreativ is software with spatial computing, machine learning, and 3D mixed reality technology that helps in room design. This advancement provides customers with the first lifelike, completely integrated way to design and visualize their living areas on smartphones and desktops.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Furniture Stores Market Characteristics
3. Furniture Stores Market Trends And Strategies
4. Furniture Stores Market - Macro Economic Scenario
5. Furniture Stores Market Size And Growth
…..
27. Furniture Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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