The global furniture market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
Furniture refers to a movable article used in residential or commercial spaces for seating arrangements and storage purposes. It comprises chairs, tables, beds, cupboards, desks, and cabinets that support basic functions, such as sleeping, dining and eating. Nowadays, consumers are also opting for furniture with improved aesthetics, functionality, and comfort. With the inflating incomes, changing lifestyles and improving living standards, individuals are spending more on multi-functional furniture with maximum storage facilities.
The global furniture market is primarily driven by the growing real estate and hospitality industries. The extensive investments in the tourism, healthcare, and education sectors have also provided a positive outlook to the market. In the education sector, the need for portable and adjustable furniture with easy reconfiguration has become a necessity with the new age of comprehensive, interactive and flip classrooms. Besides this, with the growing number of people suffering from postural dysfunction, there has been an increased demand for ergonomically designed furniture to prevent health and posture problems in children and adults. Furthermore, the increasing number of nuclear families has led to the demand for versatile and space-saving furnishings that can easily be accommodated in smaller spaces. Moreover, the expanding e-commerce industry has offered easy accessibility to furniture through online platforms, thus attracting a wider consumer base. With the rising environmental concerns, manufacturers are introducing sustainable furniture that is made from recycled items, like salvaged wood, textiles and wood pallets, and natural materials such as bamboo, rattan and seagrasses.
IMARC Group provides an analysis of the key trends in each sub-segment of the global furniture market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material, distribution channel and end use.
Breakup by Material:
Breakup by Distribution Channel:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Durham Furniture Inc., Haworth Inc. (Haworth International Ltd.), Heritage Home Group LLC, HNI Corporation, Inter IKEA Systems B.V. (Interogo Foundation), Kimball International Inc., Kohler Co., Masco Corporation, Okamura Corporation, Steelcase Inc. and Stickley Furniture Inc.
|Base Year of the Analysis||2020|
|Segment Coverage||Material, Distribution Channel, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Durham Furniture Inc., Haworth Inc. (Haworth International Ltd.), Heritage Home Group LLC, HNI Corporation, Inter IKEA Systems B.V. (Interogo Foundation), Kimball International Inc., Kohler Co., Masco Corporation, Okamura Corporation, Steelcase Inc. and Stickley Furniture Inc.|
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