US Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Furniture Market Analysis
After the outbreak of the COVID-19 pandemic, consumer markets in the United States gradually shrank, and consumption expectations dropped significantly; foreign trade companies were generally faced with the suspension or cancellation of orders by international buyers, especially in the furniture industry, which witnessed a sharp drop in export volume caused by demand-side factors, economic recession and reduced consumer demand caused by the severe COVID-19 pandemic in major destination countries, and the closure of downstream furniture enterprises.
United States furniture market has kept its steady expansion over the past decade and continues to be spurred by the growing furniture demand in both residential and commercial properties around the world. With the increasing number of consumers shifting their preference towards quality and stylish furniture products due to higher disposable income and better lifestyle requirement, the furniture market in the United States is expected to witness a stronger growth in terms of domestic furniture sales and international furniture exports over the near future. The market players are using strategies such as collaboration, acquisition, and new product development and launches to strengthen their position in the market.
E-commerce as a channel for furniture shopping is becoming increasingly popular, especially among millennials, and companies such as Amazon and Wayfair have capitalized on this trend to become formidable players in the sector. Over the recent years, United States consumers are focusing on quality and durability when purchasing furniture. While furniture products for living room and bedroom remain highly popular, several other furniture categories such as outdoor furniture, vintage looking furniture pieces, as well as environmentally conscious products are also experiencing rising sales.
US Furniture Market Trends
This section covers the major market trends shaping the US Furniture Market according to our research experts:
Home Furniture Segment is Driving the Market
The demand for home furniture has increased in past few years at rapid pace, driven by growth in the landscaping market in the United States. Home furniture includes objects such as tables, chairs, beds, desks, backpacks, dressers, and cupboards. Consumers' purchase decisions for home furniture are largely influenced by their changing lifestyles. With the rapid urbanization and improved standards of living, the need for furniture has increased considerably over the last few years. There has been a significant rise in the number of women joining the workforce and living independently. As a result, there is a rising need for service apartments and single storey houses.
Increasing Disposable Income is Driving the Market
Disposable income is the net income available to invest, save, or spend after deducting income taxes. Continued growth in building construction and rising disposable income levels have boosted the demand for furniture in the United States in recent years. With the increasing number of consumers shifting their preference towards quality and stylish furniture products due to higher disposable income and better lifestyle requirement, the furniture market in the United States is expected to witness a stronger growth in terms of domestic furniture sales and international furniture exports.
US Furniture Industry Overview
The report covers major international players operating in the United States Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
US Furniture Market Leaders
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Herman Miller
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Steelcase
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HNI Corporation
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Williams Sonoma
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Ashley HomeStore Corporation
*Disclaimer: Major Players sorted in no particular order
US Furniture Market News
- In 2021,America's two most celebrated manufacturers of modern furnishings and accessories for both the office and home, Herman Miller and Knoll, become a single powerhouse design entity.
- In 2021, Knoll Inc., the storied Montgomery County furniture and textile designer and manufacturer, is being acquired by longtime competitor Herman Miller Inc. for $1.8 billion.
US Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Landscape
4.5 Insights on impact of technology and innovation in the Market
4.6 Value Chain Analysis
4.7 Industry Attractiveness - Porters' Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Material
5.1.1 Wood
5.1.2 Metal
5.1.3 Plastic
5.1.4 Other Materials
5.2 Application
5.2.1 Home Furniture
5.2.2 Office Furniture
5.2.3 Hospitality
5.2.4 Other Furniture
5.3 Distribution Channel
5.3.1 Supermarkets
5.3.2 Specialty Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 Herman Miller
6.2.2 Steelcase
6.2.3 HNI Corporation
6.2.4 Williams Sonoma
6.2.5 Ashley Homestore Corporation
6.2.6 Berkshire Hathway Inc.
6.2.7 Rooms To Go
6.2.8 American Signature
6.2.9 Haworth
6.2.10 IKEA
6.2.11 TJX*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
US Furniture Industry Segmentation
A complete background analysis of the United States Furniture Market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. United States Furniture Market is segmented by Material (Wood, Metal, Plastic and Other Materials), by Application (Home Furniture, Office Furniture, Hospitality Furniture, and Other Furniture) and by Distribution Channel (Supermarkets, Specialty Stores, Online, and Other Distribution Channels).
| Material | |
| Wood | |
| Metal | |
| Plastic | |
| Other Materials |
| Application | |
| Home Furniture | |
| Office Furniture | |
| Hospitality | |
| Other Furniture |
| Distribution Channel | |
| Supermarkets | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
US Furniture Market Research FAQs
What is the current United States Furniture Market size?
The United States Furniture Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in United States Furniture Market?
Herman Miller, Steelcase, HNI Corporation, Williams Sonoma and Ashley HomeStore Corporation are the major companies operating in the United States Furniture Market.
What years does this United States Furniture Market cover?
The report covers the United States Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Furniture Industry Report
Statistics for the 2024 US Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Furniture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
US Furniture Market Report Snapshots
