Latest News- Home Furnishings Market: Home furniture is expected to lead the Product segment during 2025-2029
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 in indoor environments have driven furniture manufacturers to adopt green and sustainable manufacturing processes. One such material gaining popularity is Moso bamboo, which is not only stronger and harder than oak but also offers an aesthetic appeal. 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 expansion of the global home furnishings market over the forecast period.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Home furniture, Home textiles, Floor coverings) Distribution Channel (Offline, Online) Geography (Europe, North America, APAC, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Home Furnishings Market Research Report
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The home furniture market encompasses various segments, including bed materials, hall styles, kitchen essentials for eating and cooking, rugs, shower materials, curtains, cushions, accessories, and eco-friendly furniture. Furniture categories consist of bedroom pieces, appliances like built-in ovens, ranges, and dishwashers. Home Depot and e-commerce platforms sell living room furniture, such as sofas, couches, coffee tables, and entertainment centers. Additionally, RTA furniture is a popular trend in the market, catering to the residential construction sector. Art objects and cooking utensils are further additions to this diverse market.
The global home furnishings market encompasses businesses involved in the manufacturing and marketing of various products, including furniture, bed materials, hall styles, kitchen and eating essentials, rugs, shower materials, and decorative items. According to Technavio, the market size is determined by the collective revenue generated by manufacturers and marketers of consumer electronics, home furnishings, decorative products, household appliances, and other homeware items. Key growth drivers for the home furnishings market include the increasing construction of residential and commercial properties, leading to heightened demand for new furniture and home furnishings. Furthermore, the escalating number of renovation projects in major economies, such as the US, China, and India, significantly contributes to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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