The Home Furnishings Market is being driven by Increasing interest in interior design
The Home Furnishings Market is expected to grow at a CAGR of 7.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 538.8 million. The home furnishings market is experiencing significant growth due to the increasing consumer awareness and concern for eco-friendly and sustainable products. Deforestation, climate change, and health concerns related to toxic finishes have driven furniture manufacturers to adopt green and sustainable manufacturing processes. One such material gaining popularity is Moso bamboo, which is not only renewable but also stronger and harder than oak. This material is being used to produce a wide range of aesthetically appealing furniture. Certifying bodies like the Forest Stewardship Council and the Sustainable Furnishing Council are playing a crucial role in ensuring environmental sustainability in the industry. The rising demand for Moso bamboo furniture is expected to fuel the growth of the global home furnishings market during the forecast period.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
195 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.2% |
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Market growth 2025-2029 |
USD 538.8 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
5.8 |
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Key countries |
US, China, Germany, Japan, UK, India, Canada, South Korea, Italy, France, Brazil, UAE, US, China, Germany, Japan, UK, India, Canada, South Korea, Italy, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The home furnishings industry encompasses various sectors, including furniture manufacturing, retail, and online marketplaces. Furniture design trends influence the creation of new pieces, while interior design services help bring it all together. Furniture sourcing involves obtaining products from manufacturers, and delivery, assembly, customization, restoration, recycling, and financing facilitate the purchasing process. Home improvement and staging services enhance the overall look of a space. Luxury, affordable, handmade, and mass-produced furniture coexist, with accessories, lighting, and decor adding finishing touches. Smart home technology and automation, 3D printing, digital design, and virtual design are modern innovations. Furniture subscriptions, rentals, resale, and sharing economy platforms offer flexible options. Sustainable practices, certifications, and regulations ensure eco-friendly and safe products.
The global home furnishings market encompasses businesses involved in the manufacturing and marketing of various products, including furniture, floor coverings, decorative items, and household appliances. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers and marketers of consumer electronics, home decor, living room furniture, outdoor furniture, office furniture, wood furniture, metal furniture, and other homeware products. Market expansion will be fueled by the surge in residential and commercial construction, with a focus on infrastructure development and the construction of new homes and offices leading to increased sales of new furniture and furnishings. Furthermore, the rising number of renovation projects in key countries, such as the US, China, and India, is also contributing to the growing demand for furniture.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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