Wood Segment to Drive Growth

DUBLIN, July 14, 2023 /PRNewswire/ — The “Furniture: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.


The global market for Furniture estimated at US$545.9 Billion in the year 2022, is projected to reach a revised size of US$872.5 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.

Wood, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach US$335.5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Metal segment is readjusted to a revised 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $119.7 Billion, While China is Forecast to Grow at 8.2% CAGR

The Furniture market in the U.S. is estimated at US$119.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$159.3 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$199.6 Billion by the year 2030.

Select Competitors (Total 1080 Featured) –

  • ARJO AB
  • Ashley Furniture Industries, Inc.
  • Drive DeVilbiss Sidhil Ltd.
  • Durham Furniture Inc.
  • GF Health Products, Inc.
  • Godrej & Boyce Manufacturing Company Limited
  • Haworth, Inc.
  • Herman Miller, Inc.
  • Hill-Rom Holdings, Inc.
  • HNI Corporation
  • Home Depot, Inc.
  • Inter IKEA Systems B.V.
  • Invacare Corporation
  • Kimball International, Inc.
  • Kohler CO.
  • L. & J.G. STICKLEY, INC.
  • La-Z-Boy Incorporated
  • Masco Corporation
  • Medline Industries, LP
  • NAUSICAA Medical
  • Okamura Corporation
  • Ormatek
  • Steelcase Inc.
  • Steris Plc.
  • Stryker Corporation
  • Sunrise Medical LLC
  • Urban Office Interiors Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • As COVID-19 Pandemic Affects the World, Non-Essential Furniture Sales Take a Hit
  • Trend towards WFM Model Impacts Sales of Office Furniture
  • Companies Make a Shift Towards Remote Working Mandated by COVID-19 Outbreak, Affecting Sales of Office Furniture: WFM Employees as a % of the Total Workforce 2019, 2020 and 2021
  • While Store Sales Decline, Online Furniture Sales Report Growth
  • Furniture Industry Views COVID-19 as an Opportunity for Coming up with Innovative Strategies for Increasing Sales
  • Post Pandemic Strategies for Furniture Manufacturers
  • The Furniture Industry in 2022 and Beyond
  • Furniture – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Furniture: Product Profile
  • Furniture Market by Material
  • Furniture Market by End-Use
  • Global Market Prospects & Outlook
  • Wood Leads the Furniture Market by Material
  • Home Furniture Leads, Corporate Needs to Drive Growth in Office Furniture Market
  • Online Sales Continue to Gain Traction in Furniture Market
  • Developing Economies Poised to Drive Long-term Growth
  • Production Scenario
  • Major Furniture Manufacturing Countries Worldwide: 2020
  • Global Furniture Market: Breakdown of Export Value (in %) by Country for 2020
  • Global Furniture Market: Breakdown of Import Value (in %) by Country for 2020
  • Competition
  • World Brands
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Notable Trends Influencing Growth Outlook in the Furniture Market
  • Pandemic-Driven Changes to Propel Furniture Industry’s Growth
  • Technology Trends Influencing Growth of Furniture Industry
  • 3D Modelling & Visualization Adds New Capabilities in Furniture Design
  • Tech-Enabled Smart Furniture Comes to the Fore
  • Growing Popularity of Eco-Friendly Furniture
  • Rising Obesity Levels Drive the Need for Larger Furniture
  • Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • Average Per Capita Annual Health Expenditure (In US$) due to Obesity
  • Restaurants Look to Accommodate Obese Customers
  • Plus-Sized Furniture for Addressing Needs of Overweight People
  • Rise in Demand for Multi-Functional Furniture for Homes and Flexible Workspaces
  • Select Types of Multipurpose Furniture for Space Constrained Homes
  • Changing Trends in the Choice of Materials Used in Furniture
  • Increasing Trend Towards Smart Homes Drives Demand for Smart Furniture
  • Smart Home Penetration Rate (%) by Region/Country: 2020
  • Global Smart Home Penetration Rate (%): 2017-2025
  • A Review of Select Smart Furniture Products
  • Challenges Facing Smart Furniture Manufacturers
  • Pre-assembled or Ready-to-assemble (RTA) Furniture Gets Popular
  • Office Furniture Market Facing Challenging Times Amidst the Pandemic
  • Multifunctional and Personalized Office Furniture to Drive Market Gains
  • Eco-Friendly Office Furniture Find Favor
  • Private Sector Drives Growth in Office Furniture Market
  • Infrastructure Transformation in Emerging Economies: Potential for Growth
  • Office Furniture Design Trends in the Post-COVID Era
  • Varied Designs for Different Customers’ Needs
  • Advent of Innovative and Inexpensive Furniture
  • Low Imports in Developed Countries Affect Market Development
  • Online Sales of Office Furniture Gather Pace
  • Global Office Furniture Market by Distribution Channel (in %) for 2020
  • Fierce competition in the Office Furniture Market
  • Home Furniture Market: STable Growth Ahead
  • Wooden Furniture Continue to Hold Prominence among Customers
  • Plastic Furniture: Lightweight and Low Cost Attributes Propel Sales
  • Plastic Furniture Market Worldwide by Distribution Channel (in %) for 2022E
  • Customers Exhibit Inclination towards Recycled Plastic Furniture
  • Need for High-End Goods to Foster Demand for Luxury Furniture
  • Luxury Furniture Market by Material Type (in %) for 2022E
  • Luxury Furniture Sales Hit Hard by the Pandemic
  • Transforming Luxury Furniture Designs: A Review
  • Folding Furniture Sales Benefit from the Growing Needs of Constrained Spaces
  • Outdoor Furniture Continues Gain Momentum
  • Branded Furniture Finds Favor
  • Competitive Scenario
  • Healthcare Industry Creates Strong Demand for Aesthetic and Ergonomically Designed Furniture Post-Pandemic
  • DTC (Direct To Consumer) Channel Gains Popularity in Furniture Market
  • Benefits of DTC model in Furniture Brand Businesses
  • Marketing DTC Furniture
  • Digital Sales of Furniture Products Gain Traction Worldwide
  • e-Commerce Platforms Boost Sales of Furniture
  • Global e-Commerce Market Growth Outlook (In %) For Years 2019 Through 2025
  • B2B E-Commerce Driving Growth in Furniture Industry During COVID-19 Pandemic
  • Noteworthy E-commerce Trends in Furniture & Furnishings Marketplace
  • Manufacturers and Retailers Focus on Enhancing Personalized Experiences for Customers
  • Product Customization: A Win-Win Approach
  • Ergonomic Furniture Gains Spotlight in Offices and Educational Institutions
  • Augmented Reality Emerges as a Viable Marketing Tool
  • Millennials Emerge as an Important Demographic for Furniture Retailers and Brands
  • Global Millennials Population Spread by Region: 2019
  • Millennial Population as a Percentage (%) of Total Population in Select Countries: 2019
  • Marketing Strategies for Millennials
  • Decline in Hospitality Industry Hits Furniture Sales
  • Global Hotels and Hospitality Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
  • COVID-19 Impact on Travel & Tourism Industry: Growth Rate (%) of Industry Revenues in Select Countries for 2020 Vs 2019
  • Residential and Commercial Construction Trends Influence Furniture Sales
  • Global Construction Reset & Trajectory: Growth Outlook (In %) For Years 2019 Through 2025
  • Macro Drivers and Demographic Trends Influence Market Prospects
  • Expanding Global Population
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Urbanization Trend
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Burgeoning Middle Class Population
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • Challenges Confronting Furniture Manufacturers

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit

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