Home Furnishings Market 2021-2025: 42% of Market Growth will Originate from Europe

The home furnishings market share will post an incremental growth of USD 354.85 billion, progressing at a CAGR of  6.17% during the forecast period. The increasing interest in interior design will offer immense growth opportunities to market vendors. Technavio's research report segments the market into major segments and the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Home Furnishings Market: Segments and Leading  Regions

The home furnishings market report will provide insights into the current market share of each segment along with growth projections for the next five years.

• The home furnishings market is segmented by Product (Home furniture and Home textiles) and Geography (Europe, North America, APAC, MEA, and South America). Each market segment is analyzed for past performance leading to future growth projections based on the current market scenario.
• Based on the product segmentation, the home furnishings market growth in the home furniture segment will be significant during the forecast period.
• In terms of geographic segmentation, the product innovation will facilitate the home furnishings market growth in Europe over the forecast period. 42% of the market growth will originate from Europe. Germany and Italy are the key markets for the home furnishings market in Europe.
• The home furnishings market report provides an accurate prediction of the contribution of all the geographic segments to the growth of the home furnishings market size.

Home Furnishings Market: Trends, Drivers, Challenges

• Increasing interest in interior design will be a significant factor in driving the growth of the Home Furnishings Market.
• Growing demand for high-end and luxury home furnishings is one of the major home furnishings market trends that will be instrumental in driving the market growth during the forecast period.
• Uncertainty in the prices of raw materials is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.

Home Furnishings Market: Vendor Analysis

• The market is fragmented due to the presence of several players.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• Bed Bath and Beyond Inc., Godrej and Boyce Manufacturing Co. Ltd., Inter IKEA Holding BV, Kimball International Inc., Macy s Inc., Penney IP LLC, The Home Depot Inc., Walmart Inc., and Wayfair Inc. are some of the major home furnishings market vendors.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 6.17%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 354.85 billion.
    
3. What is a key factor driving this market?
   Increasing interest in interior design will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   Europe, North America, APAC, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   42% growth will originate from Europe.
    
6. Who are the leading market vendors?
   The leading vendors in this market are Bed Bath and Beyond Inc., Godrej and Boyce Manufacturing Co. Ltd., Inter IKEA Holding BV, Kimball International Inc., Macy s Inc., Penney IP LLC, The Home Depot Inc., Walmart Inc., Wayfair Inc.
    
7. What are the market segments covered in this report?
   The market is segmented by Product (Home furniture and Home textiles) and Geography (Europe, North America, APAC, MEA, and South America).