North America RTA Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.40 Billion |
| Market Size (2029) | USD 5.58 Billion |
| CAGR (2024 - 2029) | 4.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America RTA Furniture Market Analysis
The North America RTA Furniture Market size is estimated at USD 4.40 billion in 2024, and is expected to reach USD 5.58 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).
Ready-to-assemble (RTA) furniture, known for its easy assembly and space-saving advantages, is gaining popularity, especially in compact living spaces. The surge in demand for personalized furniture is fueling the growth of RTA products. E-commerce platforms offer RTA furniture featuring customizable options, competitive pricing, and chic Scandinavian designs. The younger consumer demographic, notably millennials, is a key driver of the rising demand for RTA furniture, drawn to its space-efficient nature. As more young individuals relocate for career or business prospects, the demand for household fixtures, including RTA furniture, sees a notable uptick.
In North America, millennials are driving a notable uptick in demand for ready-to-assemble (RTA) furniture. This surge is primarily attributed to RTA furniture's cost-effectiveness, convenience, and space-efficient designs. It mirrors a shift in consumer priorities, placing affordability and functionality at the forefront. The market's allure is bolstered by its easy transport and user-friendly assembly, aligning well with today's fast-paced, convenience-driven lifestyle.
The North American RTA furniture market is set for substantial growth. This surge is underpinned by increasing per capita disposable incomes, a thriving tourism and hospitality industry, a robust real estate sector, and a rising consumer inclination towards space-efficient furniture. Bolstered by these factors, alongside cutting-edge designs and technological strides in furniture production, the market is primed for expansion in the coming years.
North America RTA Furniture Market Trends
Integration of Smart Features into Furniture
Amid the surge in smart home adoption, RTA furniture is swiftly embracing tech-forward features. Think of built-in USB ports, wireless charging pads, LED lighting, and integrated speakers. These additions are not just bells and whistles; they are elevating convenience and connectivity, resonating with today's tech-savvy buyers. Adjustable height desks that sync with smartphone apps or boast programmable memory settings, empowering users to tailor their workspace ergonomics effortlessly. Smart RTA furniture frequently features modular designs, allowing easy reconfiguration to adapt to varying needs and spaces, making it an adaptable option for contemporary households. These innovations enhance the user experience and add significant value to the furniture, making it a worthwhile investment for consumers looking to integrate technology seamlessly into their living spaces.
AR and VR Shopping Experiences
Many RTA furniture brands are leveraging augmented and virtual reality to enhance the online shopping experience. With these tools, customers may see how furniture fits into their homes, leading to more confident purchases and fewer returns. These brands provide a more interactive and engaging shopping journey by integrating AR and VR into their platforms. This technology allows users to customize furniture dimensions, colors, and styles in real time, offering a personalized experience that traditional online shopping cannot match. As a result, consumers are more likely to find pieces that suit their preferences and spatial requirements, ultimately improving customer satisfaction and loyalty.
North America RTA Furniture Industry Overview
The North American market for ready-to-assemble (RTA) furniture exhibits a notable level of fragmentation. Although a few key players dominate a substantial portion of the market, the landscape is teeming with a multitude of smaller manufacturers, retailers, and e-commerce platforms, each targeting distinct niches and consumer tastes. This varied array of offerings and market actors amplifies consumer choices and intensifies competition within the North American RTA furniture sector. Notable industry leaders encompass IKEA, Ashley Furniture Industries Inc., Bush Industries Inc., Whalen Furniture Manufacturing, and South Shore Furniture.
North America RTA Furniture Market Leaders
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IKEA
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Ashley Furniture Industries Inc.
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Bush Industries Inc.
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Whalen Furniture Manufacturing
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South Shore Furniture
*Disclaimer: Major Players sorted in no particular order
North America RTA Furniture Market News
March 2024: Backed by Ashley Global Retail, the furniture chain acquired Resident Home Inc., a leading digital retailer and wholesaler known for focusing on mattresses and bedding accessories. Resident Home Inc. is renowned for its flagship brands, including Nectar, DreamCloud, Awara, and Siena. The acquisition, approved unanimously by boards, expanded Resident Home Inc.'s home furnishing portfolio and amplified its international presence.
February 2024: IKEA unveiled its latest innovation: the IKEA AI Assistant. This AI-driven tool, found solely on the OpenAI GPT Store, is a comprehensive home design, inspiration, and shopping solution. This launch signifies IKEA's commitment to democratizing planning services, aiming to enhance the lives of a broader audience. The assistant provides tailored furniture and decor recommendations, considering room size, style preferences, sustainability leanings, budget constraints, and functional needs.
North America RTA Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Research Framework
2.2 Secondary Research
2.3 Primary Research
2.4 Data Triangulation and Insight Generation
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Urbanization, Population Growth, and Changing Lifestyles Drive RTA Furniture Market Growth in North America
4.2.2 Residential Real Estate Market in North America Adapts to Changing Customer Preferences
4.3 Market Restraints
4.3.1 US Production Faces Fresh Challenges in 2024 as Steel Prices Surge.
4.3.2 The United States Adopts Mandatory Tip-over Standard for Furniture
4.4 Market Opportunities
4.4.1 The Rise of Sustainable Flatpack Furniture
4.4.2 New Entrant in the Mexican Market for RTA Furniture and its Innovative Raw Materials
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness: Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insight into the Latest Trends and Innovations in the Industry
4.8 Insights on Recent Developments in the Industry
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Residential
5.1.1.1 Tables
5.1.1.2 Chairs and Sofas
5.1.1.3 Storage Units/Cabinets
5.1.1.4 Beds
5.1.1.5 Other Residential Products
5.1.2 Commercial
5.1.2.1 Workstations
5.1.2.2 Chairs
5.1.2.3 Other Commercial Products
5.2 By Material Type
5.2.1 Wood Furniture
5.2.2 Metal Furniture
5.2.3 Plastic Furniture
5.2.4 Other Materials Furniture
5.3 By Distribution Channel
5.3.1 B2B/Directly from the Manufacturers
5.3.2 By B2C/Retail Channels
5.3.2.1 Home Centers
5.3.2.2 Specialty Stores
5.3.2.3 Online
5.3.2.4 Other Distribution Channels
5.4 By Country
5.4.1 United States
5.4.2 Canada
5.4.3 Mexico
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis for Major Players in the Industry
6.2 Company Profiles
- *List Not Exhaustive
6.3 IKEA
6.4 Ashley Furniture Industries Inc.
6.5 Bush Industries Inc.
6.6 Whalen Furniture Manufacturing
6.7 South Shore Furniture
6.8 Flexsteel Industries Inc.
6.9 Simplicity Sofas
6.10 Home Reserve LLC
6.11 Sauder Woodworking Company
6.12 The Cabinet Spot Inc.
6.13 Egga Furniture
6.14 Cabinet Joint
6.15 Prepac Manufacturing Ltd
6.16 Simpli Home
6.17 Bestar Inc.
6.18 Walker Edison*
7. FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
North America RTA Furniture Industry Segmentation
RTA (ready-to-assemble) furniture comprises furniture retailed in a flat-pack, unassembled state. Each piece comes complete with essential hardware, assembly instructions, and, occasionally, the requisite tools. The design ethos behind RTA furniture is to enable straightforward assembly at home, eliminating the necessity for specialized expertise or professional intervention.
By product type, the market is segmented into residential and commercial. By residential, the market is segmented into tables, chairs and sofas, storage units/cabinets, beds, and other residential products, and by commercial, the market is segmented into workstations, chairs, and other commercial products. By material type, the market is segmented into wood furniture, metal furniture, plastic furniture, and other material furniture. By distribution channel, the market is segmented into B2B/directly from the manufacturers, B2C/retail channels, and other distribution channels. By B2C/retail channels, the market is segmented into home centers, specialty stores, and online. By country, the market is segmented into the United States, Canada, and Mexico. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Product Type | |||||||
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| By Material Type | |
| Wood Furniture | |
| Metal Furniture | |
| Plastic Furniture | |
| Other Materials Furniture |
| By Distribution Channel | ||||||
| B2B/Directly from the Manufacturers | ||||||
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| By Country | |
| United States | |
| Canada | |
| Mexico |
North America RTA Furniture Market Research FAQs
How big is the North America RTA Furniture Market?
The North America RTA Furniture Market size is expected to reach USD 4.40 billion in 2024 and grow at a CAGR of 4.70% to reach USD 5.58 billion by 2029.
What is the current North America RTA Furniture Market size?
In 2024, the North America RTA Furniture Market size is expected to reach USD 4.40 billion.
Who are the key players in North America RTA Furniture Market?
IKEA, Ashley Furniture Industries Inc., Bush Industries Inc., Whalen Furniture Manufacturing and South Shore Furniture are the major companies operating in the North America RTA Furniture Market.
What years does this North America RTA Furniture Market cover, and what was the market size in 2023?
In 2023, the North America RTA Furniture Market size was estimated at USD 4.19 billion. The report covers the North America RTA Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America RTA Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America RTA Furniture Industry Report
Statistics for the 2024 North America RTA Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America RTA Furniture analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
