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Furniture Stores Market Size, Trends, Outlook, Overview 2024-2033
Furniture Stores Market Size
As per the report, 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 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%.
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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.
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 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
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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. .
Contents of the report:
1. Executive Summary
2. Furniture Stores Market Report Structure
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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