Market Size of Upholstered Furniture Industry
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 |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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 |
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.
Upholstered Furniture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 An Increase in the Building or Renovating of Homes Frequently Results in a Rise in the Demand for Furniture
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1.2.2 Rising Demand for Sustainable and Eco-friendly Varieties
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1.3 Market Restraints
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1.3.1 High Maintenance Costs
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1.3.2 Lack of Affordability
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1.4 Market Opportunities
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1.4.1 Trends in Customization
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Suppliers
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1.5.2 Bargaining Power of Buyers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitutes
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Market
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1.7 Insights on Technological Innovations in the Market
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Chair
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2.1.2 Sofas
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2.1.3 Tables
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2.1.4 Beds
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2.1.5 Other Types
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2.2 Application
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2.2.1 Residential
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2.2.2 Commercial
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle East & Africa
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2.4 Distribution Channel
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2.4.1 Online Retail
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2.4.2 Offline Retail
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Upholstered Furniture Market Size FAQs
How big is the Upholstered Furniture Market?
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.
What is the current Upholstered Furniture Market size?
In 2024, the Upholstered Furniture Market size is expected to reach USD 122.59 billion.