The global furniture and furnishing market is estimated to grow at a CAGR of 5.0% during the forecast period. The skill of artistically creating indoor and external rooms while also making them operationally useful for homeowners is known as home décor. Furniture; home textiles such as rugs textiles, bath textiles, bed textiles, kitchen and dining textiles, and living room textiles; and floor coverings such as tiles, wood & laminate, vinyl and rubber, carpets and rugs, and others are among the home décor products. Machine-based procedures and handcrafting can be used to alter furniture designs. Home decor goods have been widely adopted in developed countries such as the US, Canada, and Germany. Owing to the rising urbanization, the global home decor market has been gaining pace in emerging economies.
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Furthermore, as customers become more environmentally conscious, their preferences have switched towards eco-friendly home decor goods, which is a crucial growth factor for the market. Furthermore, as customers’ disposable income rises in both developed and developing countries, the market has been growing significantly. Furthermore, aggressive advertising and celebrity endorsement have greatly contributed to the market growth. However, the market growth is limited by the availability of low-quality and counterfeit products, as well as changes in the prices of raw materials used to create these products. The spike in demand for trendy and unusual furniture is expected to generate attractive growth possibilities for the global furniture and furnishing market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Distribution Channel
- By Income Group
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Ashley Furniture Industries, Inc., Inter IKEA Holding B.V., and Herman Miller, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Furniture and Furnishing Market by Segments.
By Product Type
- Furniture
- Home Textile
- Floor Covering
By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- E-commerce and Others
By Income Group
- Lower-Middle Income
- Upper-Middle Income
- Higher Income
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