The furniture stores market size is expected to see strong growth in the next few years. It will grow to $385.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to e-commerce and online furniture retail, sustainability and eco-friendly furniture, customization and personalization trends, flexible and multifunctional furniture designs, rising importance of home décor. Major trends in the forecast period include augmented reality for shopping, rise of direct-to-consumer brands, global supply chain challenges, health and wellness in design, experiential retail.
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Scope Of Furniture Stores Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Furniture Stores Market Overview
Market Drivers –
The increasing demand for furniture is expected to propel the growth of the furniture stores market going forward. Furniture refers to movable objects intended to support various human activities such as seating, eating, and storing items such as tables, chairs, desks, and cabinets. Due to rowing home decoration and renovation trends among the global population, the demand for furniture is rising which will propel the growth of the furniture stores. For instance, in February 2023, according to a report shared by Hollywood Mirror, a UK-based interior design company, the manufacturing of furniture generated about $3.22 billion. Additionally, in 2021, 5.58 million pieces of wooden bedroom furnishings were sold by UK manufacturers. Therefore, the increasing demand for furniture is driving the growth of the furniture stores market going forward.
Market Trends –
Technological advancement is a key trend gaining popularity in the furniture stores market. Major market players are concentrating their efforts on creating innovative technologies to strengthen their position in the market. For instance, in June 2022, IKEA, a Sweden-based home furnishings company, launched IKEA Kreativ, an AI-powered experience empowering customers to create lifelike room designs. IKEA Kreativ is software with spatial computing, machine learning, and 3D mixed reality technology that helps in room design. This advancement provides customers with the first lifelike, completely integrated way to design and visualize their living areas on smartphones and desktops.
The furniture stores market covered in this report is segmented –
1) By Material: Wood, Metal, Plastic, Other Material types
2) By Price Range: High End Price Furniture, Medium Price Range Furniture, Low Price Range Furniture
3) By Distribution Channel: Home Centers, Flagships Stores, Specialty Stores, Online, Other Distribution Channels
4) By End-User: Residential, Office, Hotel, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the furniture stores market in 2023. It is expected to be fastest region in the furniture stores market report during the forecast period. The regions covered in the furniture stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the furniture stores market report are Steelcase Inc., HNI Corporation, Ashley Furniture Industries Inc., Inter IKEA Systems B.V., Herman Miller Inc., Global Furniture USA, Heritage Home Group LLC, Restoration Hardware Inc., Williams-Sonoma Inc., La-Z-Boy Inc., Raymour and Flanigan Furniture and Mattresses, American Signature Inc., Kimball International Inc., Okamura Corporation, Durham Furniture Inc., Urban Office Interiors Ltd., Furniture Services Inc., Renaissance Furniture Manufacturing, Berkshire Hathaway Inc., Rooms To Go Inc., Ethan Allen Interiors Inc., Havertys Furniture Companies Inc., Bassett Furniture Industries Inc., Bob’s Discount Furniture LLC, Value City Furniture Inc., W.S. Badcock Corporation, Jordan’s Furniture Inc., Berkshire Hathaway Company, Art Van Furniture Inc., City Furniture Inc., El Dorado Furniture Inc., Kane’s Furniture Inc., Baer’s Furniture Inc., Slumberland Furniture Inc., The Dump Furniture Outlet, Furniture Marketing Group Inc. .
Table of Contents
1. Executive Summary
2. Furniture Stores Market Report Structure
3. Furniture Stores Market Trends And Strategies
4. Furniture Stores Market – Macro Economic Scenario
5. Furniture Stores Market Size And Growth
…..
27. Furniture Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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