Latest News- Furniture Market: Home is expected to lead the Product segment during 2025-2029

The Furniture Market is being driven by Evolving consumer demographics in emerging economies

The Furniture Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 157.8 billion. The global furniture market is experiencing a noteworthy trend towards inorganic growth strategies, marked by a spike in mergers and acquisitions and strategic alliances among major players. This trend is fueled by the imperative to expand market presence, augment product offerings, and attain operational efficiencies. A notable instance of this trend is MasterBrand, Inc.'s acquisition of Supreme Cabinetry Brands, Inc. in May 2024, for USD520 million. This strategic maneuver extends MasterBrand's consumer base and enhances its dealer network, thereby improving operational efficiency and effectiveness. Furthermore, this acquisition broadens MasterBrand's portfolio with premium cabinetry offerings, specifically in the resilient and attractive kitchen and bath categories. 

Get more information on Furniture Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Home
  • Office
  • Others
• Distribution Channel
  • Offline
  • Online
• Application
  • Commercial
  • Residential
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Evolving consumer demographics in emerging economies
• Growth of organized detail
• Increase in residential and commercial construction

However, the market also witnesses some limitations, which are as follows:

• High volatility in raw material prices
• Supply Chain Complexity
• Long replacement cycle for furniture

Benefits of Buying Global Furniture Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Furniture Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Furniture Market is witnessing a shift towards smart home solutions, with email marketing and logistics playing crucial roles in delivering these innovative products. Rental services, industry analysis, and pricing strategies are also key areas of focus. Subscription services and brand building are essential for customer retention, while flexible options, customer segmentation, and warranty ensure customer satisfaction. Manufacturing technology, DIY kits, upcycled furniture, and eco-friendly materials are trending. Content marketing, customer service, SEO, influencer marketing, PPC, and social media marketing are effective marketing strategies. Secondhand furniture, furniture distribution, and delivery services cater to various customer needs. For kids, for commercial spaces, office furniture, housing projects, staging, and offline stores offer diverse solutions. Care tips, assembly services, industry news, repair, and sustainable housing projects are additional offerings. Multifunctional, stylish, and culturally relevant designs cater to changing cultural trends.

Market Research Overview

The global home furnishings market encompasses businesses involved in the manufacturing and retail of furniture, home decor, floor coverings, and related products. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers and marketers of consumer electronics, home furnishings, decorative items, household appliances, and other homeware. Market expansion will be fueled by several factors, including the surge in residential and commercial construction projects, leading to increased demand for new furniture and renovation projects in major economies such as the US, China, and India. Additionally, the trend towards modernizing living spaces and the growing interest from investors in the multi-brand retail sector are significant market growth drivers. Manufacturers focusing on enhancing customer experience through innovative designs and sustainable materials, such as wood, will further propel market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/