Luxury Furniture Market Size - By Type, By End Use, By Distribution Channel Analysis, Share, Growth Forecast, 2025 - 2034

Luxury Furniture Market Size

The global luxury furniture market was estimated at USD 24.9 billion in 2024. The market is expected to grow from USD 26 billion in 2025 to USD 38.9 billion in 2034, at a CAGR of 4.6%. The market for luxury furniture is driven by various factors such as changing customer preference, rising disposable income, consumer spending on home improvement and rising construction activities.
 

Due to rapid urbanization, especially in the developing world, there has been an increased demand for luxury properties and homes. Luxury interior designers and architects are usually hired to design bespoke environments, which propels the need for luxury furniture. As the global economy continues to expand, the growth of disposable income, particularly in the emerging markets, enables consumers to spend on quality and premium furniture. This is especially evident in countries like North America, Europe, and portions of Asia.
 

Consumer spending on home decor and home improvement is further fueling the demand for luxury furniture market. According to the Home Stratosphere, China was top in overall spending on home improvement, topping the chart at $994.54 billion, while the U.S. was close behind at $932.77 billion. A distant third on the list was India at $286.85 billion. Segmenting expenditures by category, American consumers expended $65.63 billion on living room furniture, $41.87 billion on bedroom furniture, $34.61 billion on dining room and kitchen furniture, $16.85 billion on office furniture, $28.38 billion on lighting and $31.28 billion on décor. 
 

Luxury Furniture Market Trends

• There is an emerging trend towards high-end, custom, and designer furniture among consumers. Consumers are increasingly looking for unique and personalized designs that convey their status, comfort, and style, making the luxury furniture as preferred choice.
   
• To cater the personalized luxury furniture demand Versace Home exemplifies developed new collections. Electric blue, fuchsia pink, and sunny yellow are some of the bright colours that overwhelm their designs, providing customers with the chance to design interiors according to the need. This kind of customization makes furniture a one-of-a-kind expression of the owner's personality and lifestyle.
   
• Designers predict darker woods, or darker finishes on lighter woods becoming the trend. Sustainability has become more crucial than ever for customers and businesses alike therefore, custom made furniture less of a luxury idea, and more of an intelligent investment.
   
• Furnitech Luxe, India's premier producer of luxury upholstered furniture launches the latest Boho collection of green furniture. The entire collection is composed of reusable fabric made from recycled plastic PET bottles, eco-friendly materials, VOC-free adhesives, and breathable foam made from 100% natural rubber plant, making it a pure green line of furniture.  
   

Luxury Furniture Market Analysis

The luxury furniture industry by type is segmented into tables, chairs, sofas & lounges, kitchen, lightening, interior accessories, beds and others. In 2024, the chair segment dominates the market generating revenue of USD 6 billion and lightening segment is expected to grow at CAGR of around 4.8% during the forecast period 2025 to 2034.
 

• Luxury furniture is experiencing an increasing trend towards ergonomic chairs that are blending style with comfort, especially within office and lounge chair segments. Consumers are looking for chairs with both functionality as well as design. Trend toward eco-friendly designs is being noticed, with even more furniture brands employing sustainable products such as recycled metal, wood, and textiles derived from natural fibers.
   
• There is an increased demand for high-quality, sustainably sourced natural material tables like marble, walnut, and oak. These types of materials make the furniture ageless and classy.
   
• The luxury bed segment is growing with emphasis on design, quality, and comfort. Luxury mattresses that feature the best technology for improving sleeping quality are in demand, as well as high-quality bed frames made from solid wood with velvet or leather upholstery.
   
• The Sleep Company has launched a new brand of chairs, 'ErgoSmart by The Sleep Company'. In the past two years, the firm has expanded from its SmartGRID mattress to present different products such as smart recliner beds, pillows and recliner sofas. With the establishment of its chair brand, the firm is positioning itself as 'House of Brands' to extend into several categories.  
   

According to the distribution channel, the luxury furniture market is segmented into online and offline. Offline made up 73% of the market in 2024, due to providing a tangible experience where consumers can see, touch, and try products before buying.
 

• Offline channels, such as upscale showrooms, upscale furniture stores, and luxury department stores, provide an experiential and physical shopping experience that customers find appealing.
   
• Offline stores provide customers with an opportunity to directly interact with the furniture, test quality, and feel the luxury environments, which is imperative in high-ticket items like luxury furniture. Additionally, offline channels often offer bespoke client service, including professional counsel and assistance in selecting one-of-a-kind and tailored furniture pieces.  
   
• Stanley Lifestyles, a premium furniture and home interiors brand, has made a major expansion in India, entering one of India's fastest-growing premium home interiors markets. The company has opened a huge 12,000-square-foot Stanley Living store in the city as part of its national growth strategy.
   

With about 79% of the North American market share and estimated USD 4.4 billion in revenue, the United States led the luxury furniture market in 2024. The expansion of the U.S. industry is primarily driven by rising disposable income, change in consumer preference towards quality and exclusivity and growing demand for luxury interiors.
 

• The U.S. luxury residential real estate has surged, with high-end apartments and homes needing equally premium furniture. Luxury home interiors demand is driving the market for furniture.
   
• The rise of luxury housing projects in cities such as New York, Los Angeles, Miami, and San Francisco have generated a demand for high-end furniture. Luxury homes and penthouses in cities are demanding designer furniture that goes with high-end interiors.
   
• As per the Coldwell Banker Global Luxury program, the year-over-year annual price of single-family residences in the luxury residential market increased by 7.6%, whereas in the conventional residential market it increased by 3%, according to the report. According to the report, after the sales ratio percentage of the luxury market for single-family residences was 22.3% in year 2023, which indicated a seller's market, it had shifted to 19.4% in year 2024, which indicates a balanced market. This trend is likely to follow through in year 2025.  
   

Europe: Increased consumption is one of the major factors behind the growth of the European furniture market. Increasing demand for eco–friendly furniture, modern & luxury furniture, hotels & restaurants, raw materials from suppliers, and low-cost transportation to manufacturers will all support future growth of the European furniture market.
 

Asia Pacific: Real estate and construction sectors are expected to expand considerably within this region. Urbanization and increasing living standards of the people are a few crucial reasons for the notable expansion of the Asia-Pacific market.
 

Luxury Furniture Market Share

• The top five companies in Boca do Lobo, Herman Miller, Knoll, La-Z-Boy, Roche Bobois and they collectively hold a share of 8%-12% in the market.
   
•  These companies continue to acquire and merge with others, expand facilities, and make various collaborations to increase their product offerings, access customer bases, and secure their market positions.
   
• Ashley Furniture Industries makes the expansion of its private Wanek Best Expo to potential partners available for the first time. The expo features an interactive Ashley showroom experience, where styled vignettes highlight the wide variety of product categories.
   
• HNI Corporation reported that it has sold its China and Hong Kong-based Lamex office furniture business. The company was purchased by Kokuyo Co., Ltd. for 75 million US dollars, subject to customary post-closing adjustments. Kokuyo is a prominent Japanese manufacturer and supplier of office furniture in Japan and throughout Asia.  
   

Luxury Furniture Market Companies

Major players operating in the Luxury Furniture industry are:

• American Signature
• Artek
• Ashley Furniture
• Boca do Lobo
• Cassina
• Herman Miller
• HNI Corporation
• Knoll
• La-Z-Boy
• Louis Poulsen
• Roche Bobois
• Verpan
• Versace Home
• Vibia
• Vitra
   

To improve the services and market share key players are constantly investing in technological activities and are also entering into partnerships to provide improved and better solutions for the customers. These investments are benefiting both companies and customers as they help develop and offer solutions as per the changing technological trends and thus the customer requirements.
 

US design brand Knoll has launched a new flagship showroom in New York's Park Avenue, where metal mesh curtains double up as room dividers and pedestals for furniture vignettes. The New York City showroom is part of the brand's newly refurbished retail spaces in London, Chicago and Dallas.
 

La-Z-Boy Inc. opens new showroom in Furniture Plaza. A part of an investment to aid La Z-Boy's dedication to and fulfillment of its Century Vision developments as well as to emphasize the company's dedication to the home furnishings market through manufacturing and retail, the revamped showroom boasts new visual components and product lines emphasizing the "transformational power of comfort across all generations.
 

Luxury Furniture Industry News

• In August 2024, Progressive Leasing, the country's leading source of e-commerce, app-based, and store-based lease-to-own services owned by PROG Holdings, Inc., fintech holding firm, has partnered to fuel American Signature, Inc.'s, owner of Value City Furniture and American Signature Furniture, lease-to-own payment solutions. An over 120-store national operation, one of the largest retailers of home furnishings in the U.S., is owned and operated by American Signature.
   
• In July 2024, Paul Smith and Artek launched their newest collaboration 'Artek Reimagined by Paul Smith', bringing together both companies' classic timeless design. Thoughtfully designed on the principles of functionality, quality, and effortless craftsmanship, Sir Paul Smith, an ardent fan of Artek founders' Aino and Alvar Aalto's designs for many years, combines his mischievous color scheme and signature stripes to give three of the Finnish furniture maker's iconic pieces a bold new twist: Stool 60, Screen 100, and Coat Rack 109, each of which is made in Finland.
   
• In April 2024, Vibia's new Array collection presents a mix of iconic and cylindrical profiles. Perfect for commercial areas with high ceilings, like hotel reception areas, retail sales areas and restaurants, the collection combines different sizes and shapes, the biggest of which reaches almost two meters high and 124 cm wide.
   
• In April 2024, Swiss furniture company Vitra is widening its presence across Europe through a series of showroom openings in refurbished, unique historic buildings. The high-end office and residential furniture brand with its reputation for selling top-of-the-range designs from leading designers is undertaking a showroom expansion and refurbishment program to complement its global reach.
   

This luxury furniture market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Thousand Units) from 2021 to 2034, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Table
• Chair
• Sofas & Lounges
• Kitchen
• Lightening
• Interior accessories
• Beds
• Others    

Market, By End Use

• Residential
• Commercial      

Market, By Distribution Channel

• Online
• Offline       

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa