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Global Wooden Household Furniture Market Overview Covering Forecast Market Size And Growth Rate 2033 | Inter IKEA Systems B.V., Godrej & Boyce Mfg. Co. Ltd., Herman Miller Inc., Steelcase Inc., HNI Corporation, Okamura Corp
Wooden Household Furniture Global Market Report 2024
As per the report, the wooden household furniture market size has grown steadily in recent years. It will grow from $163.61 billion in 2023 to $171.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The wooden household furniture market size is expected to see steady growth in the next few years. It will grow to $203.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
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The Surge In Residential Demand Propelling Growth Of The Wooden Household Furniture Market
The rising demand from the residential sector is expected to propel the growth of the wooden household furniture market going forward. The increasing global population and urbanization are leading to the construction of more residential buildings and homes, which in turn is driving up the demand for furniture. Wooden household furniture is a popular choice among homeowners due to its durability, versatility, and aesthetic appeal. For instance, in October 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the rise in demand from the residential sector is driving the growth of the wooden household furniture market.
Innovative Trends Reshaping The Wooden Household Furniture Market With A Focus On Sustainability
Product innovation is a key trend gaining popularity in the wooden household furniture market. Many customers are seeking wooden furniture built utilizing ecologically friendly production techniques and materials from sustainably derived sources as environmental concerns continue to rise. As a result, major companies operating in the market focus on developing sustainable and eco-friendly wooden furniture. For example, in January 2022, Silk & Snow, a Canada-based bedding company, launched a sustainable furniture line for bedrooms. This collection is handcrafted using organic and non-toxic ingredients and is constructed using a simple, tool-free method of Japanese joinery.
The wooden household furniture market covered in this report is segmented -
1) By Product: Chairs, Tables, Cabinets, Other Products
2) By Wood Type: Hardwood, Softwood
3) By Material: Plywood, Laminates, Medium-Density Fiberboard (MDF), Other Materials
4) By Distribution Channel: Online, Offline
5) By Application: Residential, Commercial
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Major companies operating in the wooden household furniture market report are Inter IKEA Systems B.V., Godrej & Boyce Mfg. Co. Ltd., Herman Miller Inc., Steelcase Inc., HNI Corporation, Okamura Corp., Durian Industries Limited, Spacewood Furnishers Pvt. Ltd., Greenply Industries Limited, Haworth Inc., Knoll Inc., Kimball International Inc., Ashley Furniture Industries Inc., NITORI Co. Ltd., Dalian Huafeng Furniture Group Co. Ltd., Dorel Industries Inc., Sauder Woodworking Company, Suofeiya Home Collection Co. Ltd, La-Z-Boy Inc., Hooker Furnishings Corporation, Natuzzi Group, Kinnarps AB, Klaussner Furniture Industries Inc., Samson Holding Ltd., Man Wah Holdings Limited, American Woodmark Corporation, Bassett Furniture Industries Inc., Bernhardt Furniture Company, Brown Jordan International Inc., Century Furniture LLC .
Contents of the report:
1. Executive Summary
2. Wooden Household Furniture Market Report Structure
3. Wooden Household Furniture Market Trends And Strategies
4. Wooden Household Furniture Market - Macro Economic Scenario
5. Wooden Household Furniture Market Size And Growth
…..
27. Wooden Household Furniture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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