Furniture And Home Furnishings StoresGlobal Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The furniture market has experienced significant growth in recent years, with an expected increase from $752.22 billion in 2023 to $805.54 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.1%. This growth during the historical period can be attributed to the globalization of furniture manufacturing, economic expansion and housing developments, the adoption of sustainable and eco-friendly practices, demographic shifts, and the rise of DIY culture.

What Is the Future Market Size of the Global Furniture And Home Furnishings Stores Market and Its Yearly Growth Rate?

The furniture market is projected to experience robust growth in the coming years, reaching $1,040.36 billion by 2028 with a compound annual growth rate (CAGR) of 6.6%. This anticipated growth is driven by the increasing popularity of flexible and multifunctional designs, the adoption of sustainable and circular furniture practices, a focus on wellness-oriented furniture, the expansion of rental and secondhand furniture markets, and a growing emphasis on luxury and high-end furniture.

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What Are the Main Factors Driving Furniture And Home Furnishings Stores Market Expansion?

The growth of the furniture market is anticipated to be driven by the expanding real estate industry in the future. The real estate sector covers various aspects related to properties, including construction, leasing, valuation, marketing, and management, across commercial, residential, agricultural, and industrial categories. In the commercial real estate segment, businesses need furniture for offices, hotels, restaurants, retail outlets, and other commercial spaces. As new commercial properties are constructed or existing ones are renovated, there is a sustained demand for commercial furniture, such as office desks, chairs, and restaurant seating.

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Who Are the Main Competitors Driving the Furniture And Home Furnishings Stores Market Forward?

Key players in the furniture and Home furnishings stores market include Inter IKEA Group, Steinhoff International Holdings NV, Masco Corporation, Kohler Co., Leggett & Platt Incorporated, Tempur Sealy International Inc, Ashley Furniture Industries Inc., Hunter Douglas N.V., Man Wah holdings, Steelcase Inc., Herman Miller Inc., La-Z-Boy Inc., Okamura Corporation, HNI Corporation, JASON FURNITURE (HANGZHOU) CO.LTD, Sleep Number company, Haworth Inc, American Woodmark Corporation, Heritage Home Group LLC, Hooker Furniture Corporation, Flexsteel Industries Inc., Bassett Furniture Industries Inc., Stickley Furniture Inc., L. & J. G. Stickley Inc., Global Furniture Group, Bernhardt Furniture Company,

How Are New Trends Transforming the Furniture And Home Furnishings Stores Market Size?

Leading companies in the furniture market are concentrating on creating innovative products, including transition ranges, to enhance their profitability. Transition range products are designed to promote sustainability by encouraging households to invest in longer-lasting items that can be reused multiple times.

What Are the Key Segments Within the Global Furniture And Home Furnishings Stores Market?

1) By Type: Institutional And Office Furniture, Household Furniture And Kitchen Cabinet, Mattresses, Blinds And Shades
2) By Type of Material: Metal, Wood, Other Materials
3) By Distribution Channel: Exclusive Showrooms, Online, Hypermarkets, Other Distribution Channels

Asia-Pacific’s Role as the Foremost Player in the Furniture And Home Furnishings Stores Market

Asia-Pacific was the largest region in the market in 2023. Western Europe was the second largest region in the market. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Does The Furniture And Home Furnishings Stores Market Definition?
Furniture is a collective term for items made from wood, plastic, and rubber that are used in various rooms for purposes such as sitting, lying down, or storage. This includes tables, chairs, beds, desks, dressers, and cupboards. Unlike cheaper materials like plywood, particleboard, and fiberboard, hardwood tabletops, desktops, and shelves are designed to maintain their integrity over time and do not warp or sag.

The Furniture And Home Furnishings Stores Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Furniture And Home Furnishings Stores Market Report: Trends, Opportunities, Strategies, and More
The Furniture And Home Furnishings Stores Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into furniture and Home furnishings stores market size, furniture and Home furnishings stores market drivers and trends, furniture and Home furnishings stores competitors' revenues, and furniture and Home furnishings stores market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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