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Contract Furniture Market Analysis

Report ID: GMI5330
Published Date: Feb 2023
Report Format: PDF

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Contract Furniture Market Analysis

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The contract furniture market from the upholstered segment is poised to be worth USD 5.5 billion by 2032. The segment growth is credited to the augmenting sales of single sofas and convertibles due to a growing inclination toward home aesthetics and rising consumer expenditure on home furnishing. Besides, the increased emphasis on ensuring comfort in commercial as well as residential settings will further bolster market gains.

The contract furniture market from the corporate/office end-use segment is foreseen to observe 5.5% growth between 2023 and 2032. In the corporate sector, furniture not only plays an important role in providing comfort but is also considered critical in maintaining efficiency at the workplace. A number of business organizations considering these new dimensions to ensure employee well-being, increase productivity, enhance brand identity and encourage collaboration will garner the uptake of contract furniture in corporate/offices.

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The offline distribution industry is anticipated to attain 5% gains and amass USD 80 billion in revenue by 2032. This sales channel is a traditional and the most preferred among both consumers and retailers. It enables one-on-one interaction between both parties while making it easier for the retailer to understand the customer's requirements. Besides, shipping and transporting bulk furniture over long distances leads to product damage and high transportation charges, further encouraging the espousal of offline than online.

North America Contract Furniture Market Size, 2020- 2032

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The North America contract furniture market is slated to witness 5% growth during 2023 to 2032. The growth is primarily attributed to the presence of a significantly good number of manufacturers and high product uptake from the region. Additionally, the remarkable surge in commercial activities and major manufacturing firms focusing on expanding their operations in major regional economies.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of contract furniture market crossed USD 60 billion in 2022 and is expected to register 5% CAGR from 2023 to 2032 owing to the burgeoning demand for ergonomic furniture in personal and commercial working spaces.

The contract furniture market share from the upholstered segment is anticipated to stand at USD 5.5 billion by 2032, given the increasing demand for comfortable and aesthetic furniture items such as ottomans, cushioned chairs, and sofas across the hospitality industry and residential settings.

The industry size from the offline segment is primed to witness 5% growth between 2023 and 2032 as this distribution channel allows better interaction amongst the consumer and retailer offering higher customer reliability and a better after-service experience.

The North America contract furniture industry is poised to observe 5% growth rate through 2032, driven by the rapid commercialization and the presence of several product manufacturers and vendors in the region.

Some of the major participants are Kimball International Inc., Carlick Contract Furniture Company, Herman Miller, Inc., Steelcase Inc., IKEA, Copeland, Hauser Industries Inc., Creative Wood, Ashley Furniture Industries, Humscale International Holding Ltd., amongst others.