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. This trend is particularly evident in the furniture sector, where there is a rising demand for Moso bamboo furniture. Moso bamboo, which is stronger and harder than oak, is a popular choice among manufacturers due to its sustainable and eco-friendly production processes. The use of Moso bamboo reduces the need for deforestation and the application of toxic finishes, addressing concerns related to climate change and indoor air quality. Several reputable organizations, such as the Forest Stewardship Council and the Sustainable Furnishing Council, certify and support the furniture industry in implementing sustainable practices. As a result, the increasing popularity of Moso bamboo furniture is expected to drive the expansion of the global home furnishings market throughout 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
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • 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: 

• Increasing interest in interior design
• Growing demand for high-end and luxury home furnishings
• Rising demand for multifunctional home furniture

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

• Uncertainty in prices of raw materials
• Supply chain complexities in global home furnishings market
• Low product replacement cycle

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Market Scope in Home Furnishings Market Research Report

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Research Analysis Overview

The home furniture market encompasses various segments including bed materials, hall styles, kitchen essentials for eating and cooking, rugs, shower materials, curtains, cushions, accessories, art objects, and eco-friendly furniture. Furniture categories consist of bedroom sets, residential construction market offerings, and e-commerce sales of sofas, couches, coffee tables, entertainment centers, and more. Appliances such as wall-to-wall carpeting, built-in ovens, ranges, and dishwashers are also part of this market. Cooking utensils and home appliances like Home Depot's RTA furniture offerings complete the home furnishings landscape.

Market Research Overview

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, curtains, cushions, accessories, and more. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers and marketers of consumer electronics, home appliances, and other homeware products. Key growth drivers for the home furnishings sector include the surge in residential and commercial construction projects, leading to increased demand for new furniture and home decor. Additionally, the increasing number of renovation projects in major economies such as the US, China, and India further bolsters 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
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/