March 19, 2024

Maryland Heights Residents

Crazy About Home & Real Estate

Home furniture market size in US to grow by USD 8.22 billion from 2020 to 2025; Evolving opportunities with Ashley Furniture Industries Inc., and Inter IKEA Holding BV,

9 min read
Home furniture market size in US to grow by USD 8.22 billion from 2020 to 2025; Evolving opportunities with Ashley Furniture Industries Inc., and Inter IKEA Holding BV,

NEW YORK, Feb. 20, 2023 /PRNewswire/ — The home furniture market size in US is estimated to increase by USD 8.22 billion from 2020 to 2025. However, the market’s growth momentum will decelerate at a CAGR of 2.53{73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82}. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Discover some insights on market size before buying the full report – Request a sample report

Vendor Offerings –

  • Ashley Furniture Industries Inc.: The company offers home furniture, such as accent tables, kids’ beds, bathroom storage, and top-rated desks.
  • Inter IKEA Holding BV: The company offers home furniture, such as sofas and armchairs, beds, chairs, study tables, and small storage and organizers.
  • Klaussner Home Furnishings: The company offers home furniture, such as sofas, chairs, occasional chairs, and living area furniture.
  • LaZBoy Inc.: The company offers home furniture, such as recliners, sectionals, sofas, chairs, and loveseats.
  • For details on vendors and their offerings – Buy the report!

Home furniture market in US – Vendor Analysis

Vendor landscape –

A few prominent vendors that offer home furniture in US in the market are Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, and Williams-Sonoma Inc. and others.

The home furniture market in US is fragmented, with the presence of several global as well as regional vendors. The vendors are adopting organic and inorganic growth strategies to compete in the market.

Home furniture market in US – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

  • Key purchase criteria
  • Adoption rates
  • Adoption lifecycle
  • Drivers of price sensitivity

Home furniture market in US – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (living room furniture, bedroom furniture, storage furniture, and others). 

  • The living room furniture segment will account for a significant share of the market’s growth during the forecast period. It has been observed that consumers with higher purchasing power are likely to spend considerably on living room sofas and couches, entertainment units, and tables and tabletops. Moreover, many consumers wish to buy multifunctional or multipurpose sofas and couches due to the shrinking living spaces in the US.

Download a Sample Report

Home furniture market in US – Market Dynamics

Leading Drivers – One of the key factors driving growth in the home furniture market in the US is the improving residential construction market. There has been a significant rise in the number of women joining the workforce and living independently. As a result, there is a raising need for service apartments and single-story houses. This, in turn, is boosting the demand for home furniture in the country. The unemployment rates among women have also declined considerably over the last few years. This is making them a potential section of the population who can own or rent apartments/houses. Therefore, they are expected to contribute majorly to the home furniture market in the US. The continuously increasing immigrant population in the US is another factor adding to the rapid rise in the real estate industry, fueling the demand for home furniture. These individuals invest heavily in both real estate and the home furniture market. 

Key Trends – The surging demand for eco-friendly furniture is another factor supporting the home furniture market share growth in the US. The idea of green furniture or eco-friendly furniture was always prevalent. However, it is expected to gain momentum in the coming years owing to the rising demand for sustainable products from consumers. Owing to continuous urbanization and industrialization, there has been a considerable increase in environmental implications such as global warming. This, in turn, has created an awareness among consumers regarding the benefits of using eco-friendly or green furniture. The rising demand for eco-friendly furniture has also prompted manufacturers to keep a check on carbon footprints and modify their styles in such a way that they cater to the demands of consumers without causing any damage to the environment.

Major challenges – The inherent threat from re-used furniture market will be a major challenge for the home furniture market growth in the US. Re-used or refurbished furniture has significantly come up as an option for millennials who are just moving out of their houses and have less financial stability. They tend to buy refurbished furniture items at comparatively lower prices, impacting the revenues of the sellers of newly built furniture. Therefore, this shift in the consumer’s mindset has caused the market to slow down in the last few years. In addition, there has been a demographic shift, and the baby boomers have started shifting from their bigger apartments to smaller living spaces, which has led to an increase in the discarding of old conventional furniture. The discarded furniture is resold to new home buyers, thus reducing the demand for contemporary furniture items. 

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this home furniture market in US report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the home furniture market in US between 2021 and 2025
  • Precise estimation of the size of the home furniture market size in US and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of home furniture market vendors in US

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports: 

The home furniture and bedding market size in US is expected to increase by USD 10.86 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.96{73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82}. This report extensively covers segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).

The upholstered furniture market size is expected to increase by USD 15.96 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.04{73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82}. This report extensively covers market segmentation by distribution channel (offline and online) and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

Home Furniture Market in US Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 2.53{73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82}

Market growth 2021-2025

USD 8.22 billion

Market structure

Fragmented

YoY growth 2020-2021 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})

1.26

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, and Williams-Sonoma Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio consumer discretionary market reports

Table of contents

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Home furnishings

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 05: Market segments
  • 3.4 Market outlook: Forecast for 2020 – 2025 
    • Exhibit 06: US – Market size and forecast 2020 – 2025 ($ billion)
    • Exhibit 07: US market: Year-over-year growth 2020 – 2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers 
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers 
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants 
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes 
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition – Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 15: Product – Market share 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 5.2 Comparison by Product 
    • Exhibit 16: Comparison by Product
  • 5.3 Living room furniture – Market size and forecast 2020-2025 
    • Exhibit 17: Living room furniture – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 18: Living room furniture – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 5.4 Bedroom furniture – Market size and forecast 2020-2025 
    • Exhibit 19: Bedroom furniture – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 20: Bedroom furniture – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 5.5 Storage furniture – Market size and forecast 2020-2025 
    • Exhibit 21: Storage furniture – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 22: Storage furniture – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 5.6 Others – Market size and forecast 2020-2025 
    • Exhibit 23: Others – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 24: Others – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 5.7 Market opportunity by Product 
    • Exhibit 25: Market opportunity by Product

6 Market Segmentation by Distribution channel

  • 6.1 Market segments
    • Exhibit 26: Distribution channel – Market share 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 6.2 Comparison by Distribution channel 
    • Exhibit 27: Comparison by Distribution channel
  • 6.3 Offline – Market size and forecast 2020-2025 
    • Exhibit 28: Offline – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 29: Offline – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 6.4 Online – Market size and forecast 2020-2025 
    • Exhibit 30: Online – Market size and forecast 2020-2025 ($ billion)
    • Exhibit 31: Online – Year-over-year growth 2020-2025 ({73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82})
  • 6.5 Market opportunity by Distribution channel 
    • Exhibit 32: Market opportunity by Distribution channel

7 Customer landscape

8 Drivers, Challenges, and Trends

  • 8.2 Market challenges
    • Exhibit 34: Impact of drivers and challenges

9 Vendor Landscape

  • 9.2 Vendor landscape
    • Exhibit 35: Vendor landscape
  • 9.3 Landscape disruption
    • Exhibit 36: Landscape disruption
    • Exhibit 37: Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 38: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 39: Market positioning of vendors
  • 10.3 Ashley Furniture Industries Inc. 
    • Exhibit 40: Ashley Furniture Industries Inc. – Overview
    • Exhibit 41: Ashley Furniture Industries Inc. – Product and service
    • Exhibit 42: Ashley Furniture Industries Inc. – Key offerings
  • 10.4 Inter IKEA Holding BV 
    • Exhibit 43: Inter IKEA Holding BV – Overview
    • Exhibit 44: Inter IKEA Holding BV – Business segments
    • Exhibit 45: Inter IKEA Holding BV- Key news
    • Exhibit 46: Inter IKEA Holding BV – Key offerings
  • 10.5 Klaussner Home Furnishings 
    • Exhibit 47: Klaussner Home Furnishings – Overview
    • Exhibit 48: Klaussner Home Furnishings – Product and service
    • Exhibit 49: Klaussner Home Furnishings – Key offerings
  • 10.6 LaZBoy Inc.
    • Exhibit 50: LaZBoy Inc. – Overview
    • Exhibit 51: LaZBoy Inc. – Business segments
    • Exhibit 52: LaZBoy Inc.- Key news
    • Exhibit 53: LaZBoy Inc. – Key offerings
    • Exhibit 54: LaZBoy Inc. – Segment focus
  • 10.7 Pier 1 Imports Inc.
    • Exhibit 55: Pier 1 Imports Inc. – Overview
    • Exhibit 56: Pier 1 Imports Inc. – Business segments
    • Exhibit 57: Pier 1 Imports Inc. – Key offerings
    • Exhibit 58: Pier 1 Imports Inc. – Segment focus
  • 10.8 Raymour and Flanigan Furniture and Mattresses 
    • Exhibit 59: Raymour and Flanigan Furniture and Mattresses – Overview
    • Exhibit 60: Raymour and Flanigan Furniture and Mattresses – Product and service
    • Exhibit 61: Raymour and Flanigan Furniture and Mattresses – Key offerings
  • 10.9 Restoration Hardware Inc. 
    • Exhibit 62: Restoration Hardware Inc. – Overview
    • Exhibit 63: Restoration Hardware Inc. – Business segments
    • Exhibit 64: Restoration Hardware Inc. – Key offerings
    • Exhibit 65: Restoration Hardware Inc. – Segment focus
  • 10.10 Roomstogo.com Inc.
    • Exhibit 66: Roomstogo.com Inc. – Overview
    • Exhibit 67: Roomstogo.com Inc. – Product and service
    • Exhibit 68: Roomstogo.com Inc. – Key offerings
  • 10.11 Steinhoff International Holdings NV 
  • 10.12 Williams-Sonoma Inc.
    • Exhibit 73: Williams-Sonoma Inc. – Overview
    • Exhibit 74: Williams-Sonoma Inc. – Business segments
    • Exhibit 75: Williams-Sonoma Inc. – Key offerings

11 Appendix

  • 11.2 Currency conversion rates for US$ 
    • Exhibit 76: Currency conversion rates for US$
  • 11.3 Research methodology
    • Exhibit 77: Research Methodology
    • Exhibit 78: Validation techniques employed for market sizing
    • Exhibit 79: Information sources
  • 11.4 List of abbreviations 
    • Exhibit 80: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Copyright © marylandheightsresidents.com All rights reserved. | Newsphere by AF themes.