Rising demand for home furnishings and a thriving real estate sector is expected to drive market expansion shortly at a CAGR of 5.60% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published on the “Global Home Furniture Market”.

The Home Furniture Market is estimated to register a CAGR of 5.60% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Home Furniture Market— Ikea, Ashley Furniture Industries Inc., Heritage Home Group, La-Z-Boy, Godrej Interio, Stanley Furniture, Ethan Allen, Bernhardt, Flexsteel, and Nitori Co. Ltd.

Home Furniture Market Highlights

The global Home Furniture Market is accounted to register a CAGR of 5.60% during the forecast period and is estimated to reach USD 1054.5 billion by 2032.

The expansion is propelled by various factors, including rising disposable incomes, advancements in the hospitality and housing sectors, progress in commercial construction, and a surge in demand for upscale and luxury furniture worldwide.

Segment Analysis

The global Home Furniture Market has been segmented based on Product and Distribution Channels.

Based on the Product, the market is segmented into Living Room and Dining Room Furniture, Bedroom Furniture, Kitchen Furniture, Lamps and Lighting Furniture, and Plastic and Other Furniture. The Living Room and Dining Room Furniture segment was attributed to holding the largest market share in 2023. Living room furniture plays a vital role in driving overall revenue within the furniture industry. Considered the focal point of a home, the living room often receives substantial investments in high-quality, visually appealing furnishings. This category encompasses essential pieces such as sofas, couches, coffee tables, and entertainment centers, which typically command higher prices compared to other furniture items, thus contributing significantly to revenue.

Based on the Distribution Channels, the Home Furniture Market has been segmented into Supermarkets/Hypermarkets, Specialty Stores, Online Retail Stores, and Other Distribution Channels. The Specialty Stores segment was expected to hold the largest market share in 2023. Specialty stores are exclusive retail establishments that focus solely on offering a diverse range of furniture products tailored to specific needs and preferences. These dedicated outlets target consumers in search of specialized furniture solutions, including ergonomic chairs, adjustable desks, storage units, and accessories designed to enhance home workspaces. By providing a carefully curated selection of products, specialty stores play a crucial role in propelling the home office furniture market, meeting the changing demands of remote work and flexible arrangements.

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Regional Analysis

The global Home Furniture Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Home Furniture Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Asia-Pacific Home Furniture Market has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Home Furniture Market comprises the Middle East, Africa, and Latin America.

The largest market share for the Home Furniture Market was maintained by the North American regional sector. The kitchen and dining furniture segment in the United States holds significant importance within the broader furniture industry, encompassing various furniture pieces tailored for kitchen and dining areas. These items range from dining tables, chairs, and bar stools to kitchen islands, buffets, and cabinets. Reflecting the pivotal role of kitchen and dining spaces in households, the market for such furniture in the United States is substantial. Over the years, there has been a notable increase in the average annual expenditure on furniture per consumer unit, rising from USD 355 in 2010 to USD 715.6 in 2021, indicative of the market's healthy growth trajectory. According to Oberlo, the United States witnessed the addition of 11,803 furniture stores from 2013 to 2023, representing a 32% overall increase with an average annual growth rate of 2.8%. Investments in infrastructure development, such as urbanization projects and residential construction, contribute to the expansion of the housing market. As more households are established or renovated, there is a corresponding need for furniture, including kitchen and dining furniture, to furnish these spaces. Economic growth in North America thus acts as a catalyst for increased demand in the home furniture market.

Moreover, the Europe market has been persistently growing over the forecast period. The rise in demand for home furnishings is a key driver behind Europe's growth in the furniture industry. To enhance efficiency and reduce production costs, market players in the region have relocated their manufacturing operations to other parts of the world. Europe currently contributes a quarter of the world's furniture production, with Germany, the United Kingdom, Italy, and France collectively accounting for nearly 15% of global furniture output. The expansion of Europe's furniture market is primarily fueled by heightened consumption levels. Looking ahead, growth in the European furniture sector will be propelled by an increasing appetite for environmentally sustainable, contemporary, and high-end furniture pieces.

In the Asia Pacific region, the Indian real estate sector, encompassing both residential and commercial segments, has experienced significant growth due to the surging population and escalating demand for affordable housing solutions. According to Savills India, there is an anticipated surge in demand for data center real estate, projected to reach 15-18 million square feet by 2025. Forecasts indicate that by 2040, the real estate market is poised to expand to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. The Indian real estate sector is expected to attain a market size of US$ 1 trillion by 2030, a significant increase from US$ 200 billion in 2021, contributing 13% to the nation's GDP by 2025. Metropolitan cities such as Delhi, Mumbai, and Kolkata have witnessed a surge in demand for luxury housing complexes, including villas, penthouses, and apartments, in recent years. This trend has spurred the need for furniture such as sofa sets, dining sets, beds, and chairs, signaling anticipated growth in the furniture sector in the years ahead.  

Furthermore, the rest of the world's Home Furniture Market is divided into the Middle East, Africa, and Latin America. The expansion of the regional industry is fueled by various countries, notably the UAE and Saudi Arabia, which are making substantial investments in infrastructure development to allure international tourists and foster economic expansion. For instance, in Dubai, the government plans to make significant infrastructure investments to attract a considerable influx of visitors, thereby contributing to the growth of the regional industry.

Key Findings of the Study

• The global Home Furniture Market is expected to reach USD 1054.5 billion by 2032, at a CAGR of 5.60% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because of Shifting consumer preferences, driven by changing design trends and increasing focus on sustainability.


• Based on Product, the Living Room and Dining Room Furniture segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.


• Ikea, Ashley Furniture Industries Inc., Heritage Home Group, La-Z-Boy, Godrej Interio, Stanley Furniture, Ethan Allen, Bernhardt, Flexsteel, and Nitori Co. Ltd.