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Upholstered Furniture Market Size (2024 - 2029)

The Upholstered Furniture Market is projected to experience significant growth, driven by urbanization and evolving lifestyle trends that boost the real estate sector. This expansion in the real estate market, characterized by an increase in residential and commercial spaces, is expected to elevate the demand for home furnishings, including upholstered furniture. The industry's growth is further supported by the modernization of living spaces and the comfort offered by upholstered products, which are increasingly favored in both residential and commercial settings. The market is witnessing a shift towards modern and contemporary furniture, with modular and flexible designs gaining popularity. Innovations in the fabric industry are also influencing consumer preferences, with neutral and plain color fabrics, particularly in shades of grey, beige, and cream, leading the market in several European regions.

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Market Size of Upholstered Furniture Industry

Upholstered Furniture Market Summary
Study Period 2020-2029
Market Size (2024) USD 122.59 Billion
Market Size (2029) USD 153.49 Billion
CAGR (2024 - 2029) 5.78 %
Fastest Growing Market Asia Pacific
Largest Market Asia-Pacific

Major Players

Upholstered Furniture Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Upholstered Furniture Market Analysis

The Upholstered Furniture Market size is estimated at USD 122.59 billion in 2024, and is expected to reach USD 153.49 billion by 2029, growing at a CAGR of 5.78% during the forecast period (2024-2029).

Urbanization and lifestyle trends have opened up a number of growth prospects for the real estate sector, which is set to experience a boom in the years to come. With an expected increase in the number of homes in towns and cities, there will be an increase in the demand for home furnishing, including sofas. The real estate sector has also seen a surge in demand for office space and commercial spaces, such as hotels and restaurants. The Upholstered Furniture industry is expected to grow in the coming years with the modernization of homes and lifestyle trends because of its comfort factor. Upholstery furniture, like dining chairs, sofas, couches, lounges, etc., is widely used in residential and commercial areas. It has a unique character due to its versatility and durability.

Modern and contemporary furniture will dominate the market compared to traditional 3-piece suites. Modular and flexible furniture will give consumers an open living area and space. The fabric industry is undergoing many innovations and developments. There are many reasons why consumers choose to upholster their furniture. Neutral and plain color fabrics are at the top of the list. In the medium term, they are expected to continue to dominate the market in many regions of Europe. Grey shades, beige shades, and cream shades are the most popular shades for upholstery in the market.

Upholstered Furniture Industry Segmentation

Upholstered furniture refers to products where the fabric of the upholstery is in direct contact with padding materials, such as seats and interior surfaces.

The upholstered furniture market is segmented by type, application, distribution channel, and geography. By type, the market is segmented into chairs, sofas, tables, beds, and other types. By application, the market is segmented into residential and commercial. By distribution channel, the market is segmented into online retail and offline retail, and by geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

The report offers market size and forecasts for the upholstered furniture market in value (USD) for all the above segments.

Type
Chair
Sofas
Tables
Beds
Other Types
Application
Residential
Commercial
Geography
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Distribution Channel
Online Retail
Offline Retail
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Upholstered Furniture Market Size Summary

The upholstered furniture market is poised for significant growth, driven by urbanization and evolving lifestyle trends that are boosting the real estate sector. As more homes and commercial spaces like hotels and restaurants emerge, the demand for home furnishings, particularly upholstered items such as sofas, dining chairs, and lounges, is expected to rise. The industry's growth is further supported by the modernization of living spaces and the increasing preference for comfort and versatility in furniture design. Modern and contemporary styles are set to dominate, with modular and flexible options offering consumers more open living areas. Innovations in the fabric industry, particularly in neutral and plain color fabrics, are also contributing to the market's expansion, with shades like grey, beige, and cream being particularly popular.

Regionally, the Asia-Pacific area leads in both revenue and production of upholstered furniture, with China being a major player in manufacturing and exporting. The North American market, especially the US, is experiencing growth due to its openness to foreign products, while Germany stands out in Europe as a significant market and exporter. Despite the promising growth prospects, the market faces challenges such as a shortage of skilled labor and economic volatility. The market is highly fragmented, with intense competition among both small and large manufacturers, and a shift towards digital e-commerce platforms challenging traditional retail chains. Key players in the market include Rowe Furniture, England Furniture, DFS Furniture PLC, Norwalk Furniture, and Lee Industries, with recent acquisitions indicating a trend towards expanding market reach and enhancing product offerings.

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Upholstered Furniture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 An Increase in the Building or Renovating of Homes Frequently Results in a Rise in the Demand for Furniture

      2. 1.2.2 Rising Demand for Sustainable and Eco-friendly Varieties

    3. 1.3 Market Restraints

      1. 1.3.1 High Maintenance Costs

      2. 1.3.2 Lack of Affordability

    4. 1.4 Market Opportunities

      1. 1.4.1 Trends in Customization

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Suppliers

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Impact of COVID-19 on the Market

    7. 1.7 Insights on Technological Innovations in the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Chair

      2. 2.1.2 Sofas

      3. 2.1.3 Tables

      4. 2.1.4 Beds

      5. 2.1.5 Other Types

    2. 2.2 Application

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 South America

      5. 2.3.5 Middle East & Africa

    4. 2.4 Distribution Channel

      1. 2.4.1 Online Retail

      2. 2.4.2 Offline Retail

Upholstered Furniture Market Size FAQs

The Upholstered Furniture Market size is expected to reach USD 122.59 billion in 2024 and grow at a CAGR of 5.78% to reach USD 153.49 billion by 2029.

In 2024, the Upholstered Furniture Market size is expected to reach USD 122.59 billion.

Upholstered Furniture Market Report Snapshots

Upholstered Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)