Home Furniture Industry Poised for $720.9 Billion Valuation by 2031

Home Furniture Market Projected to Reach $720.9 Billion by 2031

Home Furniture Market - 2024-2031 Meticulous Research a leading global market research company, published a research report titled, Home Furniture Market by Product (Beds, Tables & Desks, Chairs & Stools, Recliner, Sofas & Couches, Others), Material (Wood, Metal, Glass, Others), Type (RTA, Prefabricated), Distribution Channel (Offline, Online) & Geography - Global Forecasts to 2031 Download Free Sample Report@ https://www.meticulousresearch.com/download-sample- report/cp_id=5922?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_co ntent=05-11-2024 According to the latest publication from Meticulous Research , the global home furniture market is anticipated to reach $720.9 billion by 2031, with a CAGR of 5.5% from 2024 to 2031. This growth is driven by increased demand for luxury furniture, a growing focus on customized home furniture, and rising disposable income. However, market growth is restrained by factors such as a preference for rental furniture and the availability of suitable raw materials at competitive prices. The market is also expected to benefit from the growing emphasis on omnichannel presence, the adoption of technology for furniture visualization, and the rise in urban population. Conversely, the increasing demand for second-hand furniture presents a significant challenge. Additionally, rising demand for sustainable furniture and the development of smart furniture are prominent trends in the home furniture market. Market Segmentation and Dynamics By Product: The market is segmented into beds, tables & desks, chairs & stools, wardrobes, cabinets & shelves, recliners, sofas & couches, dining tables, and other furniture. In 2024, the beds segment is expected to hold the largest share of over 26.0%, driven by the necessity of beds for rest, growing awareness about quality sleep, and lifestyle improvements. The wardrobes, cabinets, & shelves segment is projected to record the highest CAGR during the forecast period, driven by lifestyle changes, increased use of cabinetry in interior design, and rising disposable incomes. By Material: The market is divided into wood, metal, glass, plastic, and other materials. In 2024, the wood segment is expected to dominate with a share of over 64.0%, due to demand for handcrafted furniture, availability of various wood types, ease of processing, and dimensional stability. The wood segment is also expected to record the highest CAGR, driven by rising demand for sustainable wood furniture, increased use of engineered wood, and a focus on eco-friendly materials like bamboo and acacia. By Type: The market is segmented into ready-to-assemble (RTA) furniture and prefabricated furniture.In 2024, the prefabricated furniture segment is anticipated to hold the larger share, driven by mass production, increased spending on home d cor, and demand for furniture on e-commerce platforms.The RTA furniture segment is projected to record the highest CAGR, driven by affordability, customer inclination towards personalizing furniture, and reduced labor costs. Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Home Furniture Market - 2024-2031 By Geography: In 2024, Asia-Pacific is expected to account for the largest share of over 42.0%, driven by the availability of raw materials, presence of local players, numerous households, low-cost skilled workforce, and investments from key players. The Asia-Pacific region is also expected to register the highest CAGR of 6.5%, driven by urban population growth, increased e-commerce spending, rapid housing development, and rising disposable income. Key Players: Key players in the home furniture market include Inter IKEA Group (Netherlands), MillerKnoll, Inc. (U.S.), The AZEK Company Inc. (U.S.), La-Z-Boy Incorporated (U.S.), Arhaus, Inc. (U.S.), Williams-Sonoma Inc. (U.S.), KARTELL S.p.A. (Italy), RH (Restoration Hardware) (U.S.), Ashley Furniture International (U.S.), Steelcase Inc. (U.S.), Ethan Allen Interiors Inc. (U.S.), The Lovesac Company (U.S.), Hooker Furnishings Corporation (U.S.), Westwing Group SE (Germany), and Flexsteel Industries, Inc. (U.S.). Buy Now@ https://www.meticulousresearch.com/Checkout/95960689?utm_source=pdf&utm_medium=soc ial&utm_campaign=product&utm_content=05-11-2024 About Meticulous Research : We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with actionable market intelligence tailored to drive revenue transformation and strategic growth. Our insights reveal forward-looking revenue opportunities, providing our clients with a competitive edge through a diverse suite of research solutions syndicated reports, custom research, and direct analyst engagement. Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight key industry sectors and 20+ geographic markets. With a focus on solving the complex challenges facing global business leaders, our research enables informed decision-making that propels sustainable growth and operational excellence. We are dedicated to delivering high-impact solutions that transform business performance and fuel innovation in the competitive global marketplace. Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Home Furniture Market - 2024-2031 Contact Us: Meticulous Market Research Pvt. Ltd. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. Email- sales@meticulousresearch.com USA: +1-646-781-8004 Europe: +44-203-868-8738 APAC: +91 744-7780008 Visit Our Website: https://www.meticulousresearch.com/ For Latest Update Follow Us: LinkedIn- https://www.linkedin.com/company/meticulous-research Meticulous Blog | Top Market Research Reports Blog - https://meticulousblog.org/ Page 3 of 3 Meticulous Research| sales@meticulousresearch.com