Home > Consumer Goods & Services > Home Improvement > Furniture and Furnishings > Furniture Market

Furniture Market Trends

Report ID: GMI3024
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Furniture Market Trends

The growing environmental consciousness is increasing the demand for furniture that are made from sustainable materials and produced in an eco-friendly manner. Consumers are prioritizing products with a smaller environmental impact to reflect their views of sustainability and responsibility toward the environment. In addition to this, the incorporation of technology in furniture is gaining popularity. Smart workstations, adjustable beds, and automated recliners provide increased convenience, connectivity, and customization potential, thereby meeting the modern consumer demand for functional & innovative home solutions. These trends show a growing need for furniture that not only serves practical demands but also promotes a sustainable and technologically advanced lifestyle.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global furniture industry was valued at USD 641.7 billion in 2023 and is anticipated to register 5.1% CAGR between 2024 and 2032 due to urbanization and infrastructure development along with increasing disposable incomes.

The residential segment in the market is expected to grow at 5% CAGR through 2032, driven by rising homeownership rates, home improvement trends, and increased disposable incomes worldwide.

Asia Pacific furniture market is projected to reach USD 513.1 million by 2032, attributed to the rising disposable incomes of consumers and increased demand for living room furniture.

Ashley Furniture Industries, Godrej & Boyce Manufacturing Co., Ltd., Herman Miller, Inc., HNI Corporation, Home Depot, Inc., Inter IKEA Group, Kohler CO., La-Z-Boy, Inc., Nitori Holdings, and Okamura Corporation, among others.