What is the present valuation and projected CAGR of the household furniture and kitchen cabinet market?
The household furniture and kitchen cabinet market size has grown strongly in recent years. It will grow from $399.38 billion in 2024 to $424.56 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. 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 $524.17 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. 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.
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What are the top drivers to the rising demand in the household furniture and kitchen cabinet market?
The increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market going forward. E-commerce refers to the buying and selling of goods and services over the internet or other digital networks. E-commerce has revolutionized the household furniture market by providing consumers with a convenient, transparent, and efficient way to research, compare, and purchase appliances, while also offering businesses the opportunity to reach a broader customer base and streamline their operations. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, when compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 increased by 7.5% (or 1.4%), while overall retail sales increased by 0.6% (or 0.4%). Therefore, the increasing demand for online shopping drives the household furniture and kitchen cabinets market.
How is the household furniture and kitchen cabinet market segmented?
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:
1) By Household Furniture: Living Room Furniture, Sofas And Couches, Coffee Tables, TV Stands, Recliners, Bookcases, Beds And Mattresses, Dressers And Chests, Desks
2) By Kitchen Cabinet: Base Cabinets, Wall Cabinets, Tall Cabinets, Custom Cabinets, Pre-Manufactured Cabinets
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Who are the top competitors in the household furniture and kitchen cabinet market?
Major companies operating in the household furniture and kitchen cabinet market include IKEA, Ashley Furniture Industries, Steelcase Inc., HNI Corporation, Haworth Inc., La-Z-Boy Incorporated, Herman Miller Inc., Hooker Furniture Corporation, Knoll Inc., Kimball International, Bassett Furniture Industries Inc., Flexsteel Industries Inc., American Woodmark Corporation, MasterBrand Cabinets Inc., Wellborn Cabinet Inc., Masco Corporation, Fortune Brands Home & Security Inc., Stanley Furniture Company Inc., Sauder Woodworking Co., Ethan Allen Interiors Inc., Thomasville Furniture Industries, Crate & Barrel, RH (formerly Restoration Hardware), Williams-Sonoma Inc., Norcraft Companies L.P., Mastercraft Kitchens, Merillat Industries, Aran Cucine, Poggenpohl Möbelwerke GmbH, Starmark Cabinetry
What significant trends should we anticipate in the household furniture and kitchen cabinet market over the forecast period?
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.
Which regional trends are influencing the household furniture and kitchen cabinet market, and which area dominates the industry?
The countries covered in the household furniture and kitchen cabinet market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Household Furniture And Kitchen Cabinet Market Report 2025 Offer?
The household furniture and kitchen cabinet market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Household furniture and kitchen cabinets refer to the built-in furniture found in many kitchens for food storage, cooking equipment, and frequently silverware and dishes for table service. Movable, compactable articles or apparatus, such as chairs, tables, sofas, mattresses, etc., for furnishing a home.
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