The Household Furniture And Kitchen Cabinet Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Household Furniture And Kitchen Cabinet Global Market Report 2024, The household furniture and kitchen cabinet market size has grown strongly in recent years. It will grow from $379.95 billion in 2023 to $402.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to population growth and urbanization, retail expansion and marketing strategies, e-commerce growth, environmental awareness, sustainable and circular furniture practices.
The household furniture and kitchen cabinet market size is expected to see strong growth in the next few years. It will grow to $499.48 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to compact and multifunctional furniture, energy-efficient home products, shift in kitchen design preferences, innovations in materials and finishes, focus on outdoor furniture. Major trends in the forecast period include smart furniture integration, customized kitchen cabinets and storage solutions, open shelving and display cabinets, collaborations with designers, bold colors in furniture, automated and smart kitchen.
The increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, driving the growth of the furniture manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of household furniture and kitchen cabinet manufacturers by giving larger exposure to producers who were confined to one geography.
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The household furniture and kitchen cabinet market covered in this report is segmented –
1) By Type: Household Furniture, Kitchen Cabinet
2) By Type of Material: Metal, Wood, Other Material Types
3) By Distribution Channel: Online, Offline
Subsegments Covered: Wooden Household Furniture, Metal Household Furniture, Plastic Household Furniture, Other Household Furniture
RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serves the purpose of quick furnishings. The RTA furniture, also known as Knock Down furniture, is not assembled by the manufacturer and is available in parts with instructions to assemble the piece of furniture. Already popular in developed countries, RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases, and RTA filing cabinets. For instance, IKEA, a major ready to assemble manufacturer, has opened stores in India owing to the high demand for ready to assemble furniture.
The household furniture and kitchen cabinet market report table of contents includes:
- Executive Summary
- Household Furniture And Kitchen Cabinet Market Characteristics
- Household Furniture And Kitchen Cabinet Market Trends And Strategies
- Household Furniture And Kitchen Cabinet Market – Macro Economic Scenario
- Global Household Furniture And Kitchen Cabinet Market Size and Growth
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- Global Household Furniture And Kitchen Cabinet Market Competitive Benchmarking
- Global Household Furniture And Kitchen Cabinet Market Competitive Dashboard
- Key Mergers And Acquisitions In Household Furniture And Kitchen Cabinet Market
- Household Furniture And Kitchen Cabinet Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Haier Smart Home Co. Ltd.
- Dacor Inc.
- Gree Electric Appliances Inc. of Zhuhai
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