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Global Home Furnishings Stores Market Projected to Surpass $286.39 Billion by 2029 with 5% Annual Growth
Home Furnishings Stores Market
The rising fascination with interior design is projected to fuel the expansion of the home furnishings stores market in the near future. Interior design is a comprehensive process of creating an indoor environment that caters to human necessities. Consumers, influenced by home lifestyle and style enthusiasts, are ready to invest more in diverse designer and luxury home furniture, and are heavily investing in home decor and interior design styles. For example, Made in CA, an online publication based in Canada, states that the worldwide interior design market is predicted to escalate to over $339 billion by 2027. As a result, the increasing interest in interior design is spearheading the growth of the home furnishings stores market.
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What is the projected compound annual growth rate (CAGR) of the home furnishings stores market from 2025 to 2034, and what factors influence it?
The market size of home furnishings stores has witnessed robust growth in recent periods. The market, which was valued at $217.53 billion in 2024, is expected to expand to $231.36 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.4%. The historical growth period can be traced back to alterations in consumer lifestyles, demographic changes, customer confidence, retailer tactics, and shifts in the worldwide supply chain structures.
In the coming few years, it is projected that the market size for home furnishings stores will witness robust growth. It is set to escalate to $286.39 billion by 2029 while maintaining a compound annual growth rate (CAGR) of 5.5%. The surge during the predicted period is attributed to smart home integration, urbanization and space optimization, emphasis on health and wellness, customization and personalization, and retailer methods. During the forecast period, expect prevalent trends such as home renovation and refurbishment tendencies, rental and subscription methodologies, artisan and handmade goods, solutions for outdoor living spaces, along with the growth of resale and secondhand markets.
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How are the latest trends influencing the growth of the home furnishings stores market?
The prominence of technological innovations is a significant trend emerging in the home furnishing stores market. Major players in the market are focused on inventing state-of-the-art technologies to solidify their market stance. For example, in June 2022, IKEA, a home furnishing company based in Sweden, unveiled IKEA Kreativ, an AI-driven platform enabling customers to craft lifelike room designs. IKEA Kreativ incorporates spatial computing, machine learning, and 3D mixed reality technology, offering significant assistance in room design.
What are the major segments of the home furnishings stores market and their role in driving growth?
The home furnishings stores market covered in this report is segmented -
1) By Product Type: Home Furniture, Home Textile, Wall Décor
2) By Price Point: Mass, Premium
3) By Application: E-Commerce Sales, In-Store Sales
Subsegments:
1) By Home Furniture: Living Room Furniture, Bedroom Furniture, Dining Room Furniture, Office Furniture, Storage Solutions
2) By Home Textile: Bed Linens, Curtains And Drapes, Rugs And Carpets, Towels And Bath Linens, Cushions And Throws
3) By Wall Decor: Paintings And Artwork, Wall Stickers And Decals, Mirrors, Wall Shelves, Clocks
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Which regions are key players in the growth of the home furnishings stores market?
North America was the largest region in the home furnishings stores market in 2024. The regions covered in the home furnishings stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the home furnishings stores market?
Major companies operating in the home furnishings stores market include Ashley furniture industries Ltd., Duresta Upholestry Ltd., Kimball International, Shaw Industries Group Inc., Inter IKEA Group, Mohawk Industries Inc., Wayfair LLC, Suofeiya Home Collection Co. Ltd., Springs Window Fashions LLC, Hansemm Corporation, Walmart Inc., Macy's Inc., home24 SE, Home Depot Product Authority LLC, Williams-Sonoma Inc., Rooms To Go, Crate & Barrel, Ethan Allen, La-Z-Boy, Pottery Barn, RH, Havertys, Bassett Furniture, Raymour & Flanigan, American Furniture Warehouse, Nebraska Furniture Mart, Bob's Discount Furniture, Jordan's Furniture, Value City Furniture, Mathis Brothers Furniture, Living Spaces, Badcock Home Furniture & More, Leon's Furniture, Dufresne Furniture & Appliances, Bernie & Phyl's Furniture, Kane's Furniture, El Dorado Furniture, Arhaus, Ballard Designs
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What Is Covered In The Home Furnishings Stores Global Market Report?
• Market Size Forecast: Examine the home furnishings stores market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the home furnishings stores market for a structured understanding.
• Key Players Overview: Analyze major players in the home furnishings stores market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the home furnishings stores market.
• Segment Contributions: Evaluate how different segments drive overall growth in the home furnishings stores market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the home furnishings stores market.
• Industry Challenges: Identify potential risks and obstacles affecting the home furnishings stores market.
• Competitive Landscape: Review strategic developments in the home furnishings stores market, including expansions, agreements, and new product launches.
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