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Furniture Market Size, Share Global Analysis Report, 2020–2026
Furniture Market By Type (Tables, Chairs, Beds, Sofas, Cupboards, and Others (Storage Units, Accessories, etc.)), By Material (Wood, Plastic, Metal, Others (Glass, Leather, and Rubber)), and Application (Residential, and Commercial): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the furniture industry. The report analyzes and declares the historical and current trends analysis of the Furnitureindustry and subsequently recommends the projected trends anticipated to be observed in the furniture market during the upcoming years.
The furniture market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire furniture market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2016 – 2026.
Key Insights from Primary Research
- As per our primary respondents, the China furniture market is set to grow annually at a rate of around 6.0%
- It was established through primary research that the Chinafurnituremarket was valued at more than USD 25,000.00million in 2019
- The robust industrialization in China is supposed to display the highest growth in the regional market as it is one of the developed economies.
- Increase urbanization is supposed to fuel market growth. The companies are supposed to invest in R&D to innovate the better products. Product invention will open new opportunities for the furniture thus is expected to propel the industry demand in the upcoming years.
- The “Chairs” category, on the basis of type segmentation, was the leading revenue-generating category accounting for more than 20.0% share, in 2019.
- The “Wood” category, on the basis of application segmentation, was the leading revenue-generating category accounting for more than40.0% share, in 2019.
- The “Commercial” category, on the basis of sales channel segmentation, was the leading revenue-generating category accounting for more than 50.0% share, in 2019.
Key Recommendations from Analysts
- The growing popularity of furniture as protective gear used to help the athletes play the sport in the various countries across the globe is increasing the demand for the furniture segment. There is a huge demand for furniture in developing regions such as the Asia Pacific, which is driving the sports and medical industry in the regions.
- North America region is anticipated to a larger share of the furniture market in the upcoming years.
- China'sfurnituremarket is anticipated to rise at the highest rate between 2020 and 2026.
- Growing at a CAGR around 9.0%, China furniture and mining market provides numerous opportunities for all of the involved stakeholders across the entire value chain
- Our analysts have identified “Chairs”, “Wood”, and “Commercial” categories as the leading investment pockets for furniture market in terms of type, material and application segmentations respectively
Global Furniture Market Revenue Share In 2019 – By Application
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the furniture industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the furniture industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the furniture market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Furniture industry. The furniture market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Furniture sector. Key strategic developments in the furniture market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the furniture market are appropriately highlighted in the report.
The global furniture market is experiencing significant growth that is expected to continue over the upcoming years. A massive rise in the demand for furniture in residential and commercial sectors is likely to act as a key driver of the global furniture market.
The furniture market research report delivers an acute valuation and taxonomy of the Furniture industry by practically splitting the market on the basis of different types, materials, applications,and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Furniture industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the furniture industry is provided for the leading economies of the world.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 550 billion |
Projected Market Size in 2026 |
USD 800 billion |
CAGR Growth Rate |
5.5% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Ashley Furniture Industries, Steelcase, Okamura Corporation, Inter IKEA Group, Kohler CO., La-Z-Boy, Inc., Global Furniture Group, Heritage Home, Furniture Concepts, Haworth, Inc., Godrej & Boyce Manufacturing Co. Ltd., Herman Miller, Inc., HNI Corporation, Renaissance Furniture, Urban Office Interiors, Humanscale Corporation, McCarthy Group Ltd., Furniture Services, Inc., The Home Depot, Inc., and others. |
Key Segment |
By Material Type, By Application, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The furniture market is segmented based on type, material, and application. On the basis of type segmentation, the market is classified into chairs, tables, sofas, beds, cupboards, and others (accessories, storage units, etc.). In terms of material segmentation, the market is bifurcated into plastic, wood, metal, and others (leather, glass, and rubber). In terms of application segmentation, the market is bifurcated into residential, and commercial.
Some of the essential players operating in the furniture market, but not restricted include:
- IKEA International Group
- Knoll Inc.
- Steel Case Inc.
- Kimball International
- Sears Holding Corp
- Masco Corporation
- Herman Miller Inc.
- HNI Corp
- Kokuyo Furniture Co. Ltd
- Haworth Inc.
- Ashley Furniture Industries Ltd.
- Mattress Firm.
The taxonomy of the Furniture industry by its scope and segmentation is as follows:
Type Analysis
- Tables
- Chairs
- Beds
- Sofas
- Cupboards
- Others (Storage Units, Accessories, etc.)
Material Analysis
- Wood
- Plastic
- Metal
- Others (Glass, Leather, and Rubber)
Application Analysis
- Residential
- Commercial
Regional Segmentation Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table of Content
Industry Major Market Players
- IKEA International Group
- Knoll Inc.
- Steel Case Inc.
- Kimball International
- Sears Holding Corp
- Masco Corporation
- Herman Miller Inc.
- HNI Corp
- Kokuyo Furniture Co. Ltd
- Haworth Inc.
- Ashley Furniture Industries Ltd.
- Mattress Firm.
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