Demand For Wooden Home Furniture To Accelerate Fastest, Registering A CAGR Of 6% By 2031

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Home Furniture market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Home Furniture

The report offers actionable and valuable market insights of Home Furniture. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Home Furniture Market across various industries and regions.

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Market research and competitive intelligence provider Fact.MR expects demand for home furniture to register positive growth from 2021-2031, reaching US$ 290 Bn in value and registering 1.8x growth. By 2021, sales are anticipated to be valued at US$ 162 Bn. Amongst all product types, sales of beds & mattresses will experience maximum growth, reaching US$ 43 Bn by 2031.

Market Size Value in 2021 US$ 162 Bn
Project Market Forecast Value in 2031 US$ 290 Bn
Global Growth Rate (2021-2031) 6%

 

This newly published and insightful report sheds light on Market Insights of Home Furniture, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Home Furniture Market.

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Key Segments Covered

  • Product Type

    • Beds and Mattresses
    • Sofas and Armchairs
    • Entertainment Units
    • Storage Units
    • Upholstery
    • Tables and Desks
    • Dining Home Furniture
    • Kitchen Home Furniture
    • Others
  • Material Type

    • Wooden Home Furniture
    • Metal Home Furniture
    • Glass Home Furniture
    • Plastic Home Furniture
    • Others
  • Sales Channel

    • Home Furniture Sold at Retail Stores
    • Home Furniture Sold Direct to Consumers
    • Home Furniture Sold at Manufacturer Stores
    • Home Furniture Sold through e-Commerce Stores
    • Home Furniture Sold at Discount stores
    • Home Furniture Sold at Rental Stores
    • Home Furniture Sold at Club Stores
    • Home Furniture Sold at DIY Stores

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Key Takeaways from the Market Study

  • Beds and mattresses to experience maximum sales, reaching US$ 43 Bn by 2031
  • Demand for wooden home furniture to accelerate fastest, registering a CAGR of 6%
  • Retail home furniture sales to reach a valuation worth US$ 25 Bn by 2031-end
  • U.S to be an opportunistic market, expected to capture 1/4th of global home furniture revenue
  • China to be the largest home furniture market, accounting for 60% of total sales

“Prominent home furniture manufacturers are emphasizing on introducing polished surface products, given the importance attached to aesthetic appeal of home décor products. Additionally, production of beds & mattresses aimed at improving sleep posture are also generate substantial growth opportunities,” says a Fact.MR analyst.

Competitive Landscape

Prominent home furniture manufacturers are reliant on capacity expansion initiatives, enabling them to serve a broader customer base and enhancing manufacturing capabilities to increase output. Notable developments are as follows:

  • Ashley Furniture Industries announced plans to initiate a new manufacturing facility in Pottsville, Pennsylvania, in March 2021. The new 100,000 square feet facility will serve as a furniture production site. This latest addition augments its already existing network of 11 production facilities servicing the U.S
  • Likewise, in July 2021, La-Z-Boy Incorporated announced an investment of over US$ 30 million over a 2-year period in its Neosho, Missouri manufacturing facility, helping scale up production efficiency and shorten lead times for customers and consumers, as well as strengthening their manufacturing footprint

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Key Question answered in the survey of Home Furniture market report:

  • Sales and Demand of Home Furniture
  • Growth of Home Furniture Market
  • Market Analysis of Home Furniture
  • Market Insights of Home Furniture
  • Key Drivers Impacting the Home Furniture market
  • Which are the Key drivers impacted by Home Furniture market
  • Restraints Shaping Market Growth
  • Market Survey of Home Furniture

More Valuable Insights on Home Furniture Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Home Furniture, Sales and Demand of Home Furniture, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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