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North America Home Furniture Market Size (2024 - 2029)

The North American home furniture market is experiencing significant growth, driven by trends such as the increased demand for home office furniture due to the rise of remote work and a shift towards online shopping. The market size is expanding as the residential building industry flourishes in the United States and Canada, with a notable surge in new home constructions. Additionally, the growing number of single-person households and the popularity of DIY furniture among millennials are contributing to the market's expansion. Environmental consciousness is influencing consumer choices, leading to a rise in demand for sustainable and eco-friendly furniture. The development of green homes and the migration of manufacturers towards handcrafted, locally produced furniture are further enhancing the market's growth prospects.

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Market Size of North America Home Furniture Industry

North America Home Furniture market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 4.00 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

North America Home Furniture Market Analysis

The coronavirus outbreak had a significant impact on the North American furniture industry. As a result of the lockdown, there is now a new trend of working from home. During the outbreak, there was a boom in the buying of home office furniture. Customers are increasingly buying furniture online to upgrade their houses to fit the needs of modern life. According to data from Emarsys and GoodData, online orders for all things, from necessities to home maintenance and furnishings, have increased by more than 80% in North America since January 2020.

Some of the primary reasons driving the growth of home furniture goods in the North America include the rising residential building industry in nations like the United States and Canada. Construction and sales of new homes are expected to surge in key Canadian cities, particularly in the high-rise sector. In addition, an increase in the number of single-person families is increasing demand for home furnishings such as living, bedroom, and kitchen furniture.

DIY furniture is also becoming increasingly popular among millennials, and the availability of such items is projected to boost furniture sales through online retail outlets. Consumers' increasing environmental consciousness is having a positive influence on their purchasing decisions, and sustainable furniture is becoming more popular in the region. Furthermore, there is a tremendous increase in the development of green homes in the United States, which is paving the way for eco-friendly furniture goods. Furthermore, the rising migration of manufacturers in the region with handcrafted furniture goods developed in the U.S. American Eco Furniture, LLC is resulting in the advancement of the furniture sector in North America.

North America Home Furniture Industry Segmentation

This report aims to provide a detailed analysis of the North America Home furniture market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights into various product and application types. Also, it analyzes the key players and the competitive landscape in the market. The North America Home Furniture market is segmented by Type (Kitchen Furniture, Living-room, and Dining-room Furniture, Bedroom Furniture, and Other Furniture), by Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online, and Others), by Geography (United States, Canada).

By Material
Wood
Metal
Plastic
Other Furniture
By Type
Living Room Furniture
Dining Room Furniture
Bedroom Furniture
Kitchen Furniture
Other Furniture
By Distribution Channel
Supermarkets & Hypermarkets
Specialty Stores
Wholesalers
Online & Others
By Geography
United States
Canada
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North America Home Furniture Market Size Summary

The North America home furniture market is experiencing significant growth, driven by evolving consumer preferences and increased online shopping. The COVID-19 pandemic has accelerated the trend of remote work, leading to a surge in demand for home office furniture and a shift towards online purchases for home furnishings. This shift is supported by the rising residential construction industry in the United States and Canada, with new home purchases boosting the demand for various types of furniture. The market is also seeing a rise in single-person households, which is further fueling the need for living, bedroom, and kitchen furniture. Additionally, the popularity of DIY furniture among millennials and the growing demand for sustainable and eco-friendly furniture are contributing to the market's expansion.

The competitive landscape of the North America home furniture market is characterized by the presence of numerous players, with major retailers like IKEA, Wayfair, and Amazon investing heavily in their online platforms to capture a larger market share. These companies are not only enhancing their online presence but also introducing new brands to cater to diverse consumer preferences. The focus on personalization and innovative designs is becoming increasingly important as manufacturers aim to meet the demands of various consumer groups. The market's growth is further supported by the development of green homes and the increasing migration of manufacturers producing handcrafted furniture in the region, which aligns with the rising consumer interest in sustainable products.

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North America Home Furniture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS & INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porters 5 Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights on technological innovations in the furniture industry

    7. 1.7 Impact of COVID 19 on the market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material

      1. 2.1.1 Wood

      2. 2.1.2 Metal

      3. 2.1.3 Plastic

      4. 2.1.4 Other Furniture

    2. 2.2 By Type

      1. 2.2.1 Living Room Furniture

      2. 2.2.2 Dining Room Furniture

      3. 2.2.3 Bedroom Furniture

      4. 2.2.4 Kitchen Furniture

      5. 2.2.5 Other Furniture

    3. 2.3 By Distribution Channel

      1. 2.3.1 Supermarkets & Hypermarkets

      2. 2.3.2 Specialty Stores

      3. 2.3.3 Wholesalers

      4. 2.3.4 Online & Others

    4. 2.4 By Geography

      1. 2.4.1 United States

      2. 2.4.2 Canada

North America Home Furniture Market Size FAQs

The North America Home Furniture Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Ashley Furniture, IKEA, La-Z-Boy, Misewell and RoomstoGo are the major companies operating in the North America Home Furniture Market.

North America Home Furniture Market Report Snapshots

North America Home Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)