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United States Luxury Furniture Market Size, Share, Analysis: By Product: Tables, Chairs and Sofas, Cabinets, Others; By Material: Wood, Glass, Metal, Plastic, Others; By Application: Commercial, Domestic; By Distribution Channel: Offline, Online; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
United States Luxury Furniture Market Outlook
The United States luxury furniture market size reached approximately USD 9.82 billion in 2023. The market is estimated to grow at a CAGR of 3.4% in the forecast period of 2024-2032, reaching a value of around USD 13.21 billion by 2032.
Key Trends in the Market
Luxury furniture encompasses furniture pieces which are made of high-quality materials such as mahogany wood, brass, bronze, and leather, among others. They usually feature detailed designs and delicate craftsmanship, which enhances the aesthetic appeal of a space.
- The growing demand for handcrafted luxury furniture is one of the crucial United States luxury furniture market trends. This demand arises due to customers’ desire to possess authentic and one-of-a-kind furniture instead of a mass-produced piece that can be found in multiple homes.
- Custom concealment furniture is also gaining prominence in the US market as it offers the provision of concealing valuable items such as cash, jewellery, and important documents, among others. This luxury item also blends seamlessly with other home décor products while providing an additional layer of security to the valuables.
- The rise of the e-commerce sector in the country allows customers to access and buy luxury furniture items from foreign brands which are typically unavailable at physical stores, providing further impetus to the United States luxury furniture market growth.
- Rising efforts by market players to expand their production capacity is another prominent trend aiding the market expansion. For example, in November 2023, Ashley Furniture Industries got approval for building a furniture manufacturing facility and an 85,000-square-foot showroom in Phoenix.
Market Analysis
Based on product, the market is divided into tables, chairs and sofas, and cabinets, among others. On the basis of material, the market is classified into wood, glass, metal, and plastic, among others. Based on application, the market is bifurcated into commercial and domestic.
The United States luxury furniture market segmentation, on the basis of distribution channel, includes offline and online. The major regional markets of luxury furniture in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
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 United States luxury furniture market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Ralph Lauren Corporation
- Ashley Furniture Industries, LLC
- MillerKnoll, Inc.
- Vermont Woods Studios
- Kimball International Inc.
- Hooker Furnishings Corporation
- Brown Jordan Inc.
- Bernhardt Furniture Company
- John-Richard
- Theodore Alexander USA, Inc.
- Others
Market Share by Application
The commercial sector occupies a substantial portion of the United States luxury furniture market share, due to the growing usage of luxury furniture in hotels and luxury resorts. These establishments typically opt for well-crafted furniture that exudes luxury and comfort to create an inviting and cosy environment for the guests.
Furthermore, the residential sector is expected to witness sizeable growth in the forecast period, due to the shifting customer preference towards versatile and high-craftsmanship items. Several manufacturers are also incorporating sustainable materials such as bamboo, hemp, and kenaf, among others, in their luxury furniture range, enhancing their appeal among environmentally conscious consumers.
Market Share by Distribution Channel
As per the United States luxury furniture market analysis, offline channels account for a significant share of the US market as customers usually prefer to buy furnishing items from physical stores to inspect the quality and finish of the items.
Meanwhile, online channels are anticipated to grow at a robust rate in the forecast period as they provide accessibility to a large number of brands and sophisticated furniture designs that may not be found in the showroom.
Competitive Landscape
Ralph Lauren Corporation, founded in 1967 is a fashion company, with its headquarters in New York, the United States. The company is renowned for the production and distribution of its luxury design products in the international market. Its furniture range includes coffee tables, end tables, nightstands, dressers, bookcases, and beds, among others.
Ashley Furniture Industries, LLC, established in 1945 and based in Wisconsin, the United States, is a home furnishing company. Its comprehensive furniture range consists of accent chairs, ottomans, TV stands, nightstands, dressers and chests, and benches, among others. The company is known as one of the largest manufacturers of furniture in the world with partners in over 155 countries.
MillerKnoll, Inc. is a conglomerate of dynamic brands across the world. Its brand Herman Miller is an office and home furnishing company, incorporated in 1905 and headquartered in Michigan, the United States. Some of the brand’s well-known products in the market are the Aeron chair, Eames Lounge chair, Mirra chair, and Noguchi table, among others.
Other United States luxury furniture market players include Vermont Woods Studios, Kimball International Inc., Hooker Furnishings Corporation, Brown Jordan Inc., Bernhardt Furniture Company, John-Richard, and Theodore Alexander USA, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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 Product |
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| Breakup by Material |
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| Breakup by Application |
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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 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Luxury Furniture Market Overview
8.1 Key Industry Highlights
8.2 North America Luxury Furniture Historical Market (2018-2023)
8.3 North America Luxury Furniture Market Forecast (2024-2032)
8.4 North America Luxury Furniture Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Luxury Furniture Market Overview
9.1 Key Industry Highlights
9.2 United States Luxury Furniture Historical Market (2018-2023)
9.3 United States Luxury Furniture Market Forecast (2024-2032)
10 United States Luxury Furniture Market by Product
10.1 Tables
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Chairs and Sofas
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Cabinets
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 United States Luxury Furniture Market by Material
11.1 Wood
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Glass
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Metal
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Plastic
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 United States Luxury Furniture Market by Application
12.1 Commercial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Domestic
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United States Luxury Furniture Market by Distribution Channel
13.1 Offline
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Online
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 United States Luxury Furniture Market by Region
14.1 New England
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mideast
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Great Lakes
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Plains
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Southeast
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Southwest
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
14.7 Rocky Mountain
14.7.1 Historical Trend (2018-2023)
14.7.2 Forecast Trend (2024-2032)
14.8 Far West
14.8.1 Historical Trend (2018-2023)
14.8.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Ralph Lauren Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Ashley Furniture Industries, LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 MillerKnoll, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Vermont Woods Studios
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Kimball International Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Hooker Furnishings Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Brown Jordan Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Bernhardt Furniture Company
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 John-Richard
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Theodore Alexander USA, Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Luxury Furniture Market: Key Industry Highlights, 2018 and 2032
2. United States Luxury Furniture Market: Key Industry Highlights, 2018 and 2032
3. United States Luxury Furniture Historical Market: Breakup by Product (USD Billion), 2018-2023
4. United States Luxury Furniture Market Forecast: Breakup by Product (USD Billion), 2024-2032
5. United States Luxury Furniture Historical Market: Breakup by Material (USD Billion), 2018-2023
6. United States Luxury Furniture Market Forecast: Breakup by Material (USD Billion), 2024-2032
7. United States Luxury Furniture Historical Market: Breakup by Application (USD Billion), 2018-2023
8. United States Luxury Furniture Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. United States Luxury Furniture Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
10. United States Luxury Furniture Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
11. United States Luxury Furniture Historical Market: Breakup by Region (USD Billion), 2018-2023
12. United States Luxury Furniture Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. United States Luxury Furniture Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 9.82 billion.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 13.21 billion by 2032.
The major market drivers are evolving customer preference in interior designing, the rise in disposable income, and the growing number of real estate projects.
The key trends of the market include growing demand for handcrafted luxury furniture, the rising popularity of custom concealment furniture, the rise of the e-commerce sector, and efforts by market players to expand their production capacity.
The major regions in the market are New England, the Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Various products are tables, chairs and sofas, and cabinets, among others.
The key players in the market are Ralph Lauren Corporation, Ashley Furniture Industries, LLC, MillerKnoll, Inc., Vermont Woods Studios, Kimball International Inc., Hooker Furnishings Corporation, Brown Jordan Inc., Bernhardt Furniture Company, John-Richard, and Theodore Alexander USA, Inc., among others.
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