Reports
Global Furniture Market Size, Price, Trends, Forecast: By Type: Metal, Wood, Plastic, Glass, Others; By End Use: Residential, Commercial; By Distribution Channel: Offline, Online; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2023-2028
Global Furniture Market Outlook
The global furniture market size reached approximately USD 600.10 billion in 2022. The market is assessed to grow at a CAGR of 4.9% between 2023 and 2028 to attain a value of around USD 799.61 billion by 2028.
Key Trends in the Market
Furniture refers to mobile objects that are made from different materials like wood and plastic, among others. It holds objects at a convenient height and supports various human activities like sitting and sleeping. Furniture is also used to enhance the aesthetics of a space and for symbolic or religious purposes.
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- The increasing trend of sustainability is a significant furniture market trend. Key players are attempting to create a circular economy, responsibly source raw materials, and manufacture furniture from recyclable, durable, eco-friendly, and non-toxic materials to improve their ESG and drive carbon neutrality.
- The burgeoning trend of nature-inspired spaces and the growing popularity of neutral pallets and tones, especially in residential spaces, is boosting the demand for furniture made from natural materials like wood, ceramics, and stones, among others.
- 3D printing is increasingly used to streamline, simplify, and reduce costs associated with manufacturing and designing furniture. It also enables designers to use innovative materials and develop furniture with innovative geometrics, excellent ergonomics, and customised shape, size, and colour. In addition, advanced technologies like IoT, AI, AR, and VR, among others, are expected to support the furniture market development in the coming years.
- The increasing use of innovative materials such as cork, mycelium, and linoleum in furniture design and manufacturing is anticipated to fuel the market growth in the forecast period.
Market Analysis
Based on type, the market is segmented into metal, wood, plastic, and glass, among others. On the basis of end-use, the market can be divided into residential and commercial. By distribution channel, the furniture market segmentations include offline and online. The major regional markets for furniture include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global furniture market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Steelcase Inc.
- Haworth Inc.
- Kinnarps AB
- Poltrona Frau S.p.a.
- VITRA INTERNATIONAL AG
- Knoll®, Inc.
- NOWY STYL Sp. z o.o.
- Design Holding Group
- Nitori Co., Ltd.
- Hooker Furnishings
- Natuzzi S.p.A.
- Ethan Allen Global, Inc.
Market Share by Type
Wood furniture is expected to represent a significant portion of the furniture market share in the coming years as it offers ease of maintenance and enhanced durability. It is climate-resilient, eco-friendly, and versatile, and is extensively used to enhance the aesthetics, sophistication, and elegance of both residential and commercial spaces. Moreover, the growing availability of furniture made from different types of wood, including mahogany, cedar, and teak, among others, is boosting the segment’s growth.
Meanwhile, the demand for metal furniture is increasing owing to its affordability, enhanced functionality, and excellent cleanability. The exceptional durability of metal also makes such furniture appealing for outdoor use.
Market Share by Region
As per the furniture market analysis, the Asia Pacific is likely to experience robust growth in the forecast period due to rapid urbanisation, growing disposable incomes of the middle-class population, and the rising demand for furniture in the residential sector. Players in the region are using technologies to improve customer experience and offer aesthetically pleasing and durable designs.
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The increasing launch of luxury furniture ranges, along with the growing availability of diverse types of furniture on e-commerce platforms, is anticipated to further propel the market. Meanwhile, the furniture market demand in Europe and North America is likely to considerably grow amid the growing interest in home décor and the surging demand for aesthetically pleasing furniture.
Competitive Landscape
Steelcase Inc. is a prominent furniture company, based in Michigan, the United States. It was established in 1912, and it is involved in designing and manufacturing furniture for commercial purposes. Its products are sold in more than 770 locations around the world.
Haworth Inc. is one of the largest office furniture manufacturers in the world. It was founded in 1948 and is headquartered in Michigan, the United States. With a presence in over 150 countries, the company aims to develop high-quality furniture that can enhance the productivity of employees.
Kinnarps AB, established in 1942, is a company that designs, manufactures, and markets furniture for use in schools, hospitals, and offices, among others. Its furniture pieces are known for their quality, functionality, ergonomics, and aesthetics.
Other furniture market players include Poltrona Frau S.p.a., VITRA INTERNATIONAL AG, Knoll®, Inc., NOWY STYL Sp. z o.o., Design Holding Group, Nitori Co., Ltd., Hooker Furnishings, Natuzzi S.p.A., and Ethan Allen Global, Inc.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Furniture Market Analysis
8.1 Key Industry Highlights
8.2 Global Furniture Historical Market (2018-2022)
8.3 Global Furniture Market Forecast (2023-2028)
8.4 Global Furniture Market by Type
8.4.1 Metal
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Wood
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Plastic
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Glass
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Furniture Market by End-Use
8.5.1 Residential
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Commercial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Furniture Market by Distribution Channel
8.6.1 Offline
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Online
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Furniture Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Steelcase Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Haworth Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Kinnarps AB
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Poltrona Frau S.p.a.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 VITRA INTERNATIONAL AG
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Knoll®, Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 NOWY STYL Sp. z o.o.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Design Holding Group
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Nitori Co., Ltd.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Hooker Furnishings
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Natuzzi S.p.A.
12.2.11.1 Company Overview
12.2.11.2 Product Portfolio
12.2.11.3 Demographic Reach and Achievements
12.2.11.4 Certifications
12.2.12 Ethan Allen Global, Inc.
12.2.12.1 Company Overview
12.2.12.2 Product Portfolio
12.2.12.3 Demographic Reach and Achievements
12.2.12.4 Certifications
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Furniture Market: Key Industry Highlights, 2018 and 2028
2. Global Furniture Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Furniture Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Furniture Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Furniture Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Furniture Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
7. Global Furniture Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
8. Global Furniture Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Furniture Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Furniture Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Furniture Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Furniture Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Furniture Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Furniture Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Furniture Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Furniture Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Furniture Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Furniture Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Furniture Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Furniture Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of nearly USD 600.10 billion.
The market is assessed to grow at a CAGR of 4.9% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 799.61 billion by 2028.
The major market drivers are the rising demand for furniture made from natural and sustainable materials and the growing trend of home décor.
The key trends aiding the market growth are the increasing use of 3D printing to manufacture furniture, the rising demand for wood furniture, and the development of new furniture materials.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant distribution channels in the market are online and offline.
The major players in the market are Steelcase Inc., Haworth Inc., Kinnarps AB, Poltrona Frau S.p.a., VITRA INTERNATIONAL AG, Knoll®, Inc., NOWY STYL Sp. z o.o., Design Holding Group, Nitori Co., Ltd., Hooker Furnishings, Natuzzi S.p.A., and Ethan Allen Global, Inc.
Analyst Review
The global furniture market attained a value of nearly USD 600.10 billion in 2022, driven by the growing infrastructure and hospitality sectors. Aided by the growing e-commerce sector, the market is projected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.9% to reach around USD 799.61 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on its types, the furniture market can be segmented into metal, wood, plastic, and glass, among others. On the basis of distribution channels, the market is bifurcated into online and offline channels. The major regional markets for furniture are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Steelcase Inc., Haworth Inc., Kinnarps AB, Poltrona Frau S.p.a., VITRA INTERNATIONAL AG, Knoll®, Inc., NOWY STYL Sp. z o.o., Design Holding Group, Nitori Co., Ltd., Hooker Furnishings, Natuzzi S.p.A., and Ethan Allen Global, Inc.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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