Press release
Global Furniture Market: Strong Growth, Change Drivers and Projected Trends for 2024-2029
Global Furniture Market
What Is The Projected Market Size Of The Global Furniture Market And Its Growth Rate?
•The global furniture market has grown significantly in recent years and is predicted to grow from $768.36 billion in 2024 to $822.53 billion in 2025, marking a compound annual growth rate (CAGR) of 7.1% driven by globalization of furniture manufacturing, economic growth, and environmental practices.
•From 2025 to 2029, the market is expected to grow to $1043.76 billion with a CAGR of 6.1%, influenced by flexible designs, sustainable practices, and the rise of rental and secondhand markets.
What Is Driving The Growth In The Furniture Market?
Growth in the furniture market is being driven by increased activity in the real estate sector. The development and renovation of commercial and residential properties necessitates the need for new furniture. For instance, to cater to business needs in offices, hotels, restaurants, retail stores, and other commercial spaces. An example is the real estate surge in Bahrain, which has announced plans to build numerous residential units, hotel rooms, retail areas, and office spaces, expected to be completed by 2030, highlighting the future demand in the furniture industry.
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Who Are the Key Players Driving Furniture Market Growth?
•Inter IKEA Group
•Steinhoff International Holdings NV
•Leggett & Platt Incorporated
•Tempur Sealy International Inc
•Ashley Furniture Industries Inc.
•Man Wah Holdings
•Steelcase Inc.
•Herman Miller Inc.
•La-Z-Boy Inc.
•Okamura Corporation
•HNI Corporation
What Are The Key Trends In The Furniture Market?
•Smart furniture integration
•Modular and customizable furniture
•Retro and vintage revival
•Biophilic design in furniture
•Multifunctional and space-saving designs
What Are The Segments Of The Global Furniture Market?
•Type: Institutional And Office Furniture, Household Furniture And Kitchen Cabinet, Mattresses, Blinds And Shades
•Type Of Material: Metal, Wood, Other Materials
•Distribution Channel: Exclusive Showrooms, Online, Hypermarkets, Other Distribution Channels
Which Region Leads The Furniture Market?
Asia-Pacific led the global furniture market in 2024 and Western Europe came in as the second largest. This report includes market data for Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Furniture Market Global Market Report?
- Market Size Analysis: Analyze the Furniture Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Furniture Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Furniture Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Furniture Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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