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Home Furniture Market Analysis

The Home Furniture Market size is estimated at USD 641.80 billion in 2024, and is expected to reach USD 830.49 billion by 2029, growing at a CAGR of 5.29% during the forecast period (2024-2029).

One of the key drivers of the home furniture market is the growing residential construction market during the study period. The growing popularity of eco-friendly furniture and changes in lifestyles are driving the growth of the market. Players in the United States home furniture industry use mergers and acquisitions and the creation of new product lines as ways to grow their businesses.

There’s a strong demand for furniture due to a growing population. The vast population base and rising disposable income of consumers are bolstering the development of the furniture industry as customers are willing to spend more on floor coverings and furniture. Urbanization, increasing real estate development, strong growth in GDP, and economic stability in the country are some of the other major factors attributing to the growth of the furniture industry.

Ready-to-assemble (RTA) furniture is becoming increasingly popular among homeowners and renters because of its lower costs and compact designs. RTA furniture, also known as flat-pack furniture, is not assembled by the manufacturer and is available in parts with instructions on how to assemble it. E-commerce is also fueling the market's growth, and there are many e-commerce giants such as Amazon, Wayfair, and Home Depot that offer a wide range of furniture products from many key brands as part of their product portfolios.

Home Furniture Industry Segmentation

"Home furnishings are items placed in a room to make it comfortable and appealing. They include all the movable objects, such as furniture, curtains, carpets, and décor items that complement the room's design. Home furnishings are an essential part of interior design, and they can give a room a unique personality. A complete background analysis of the global home furniture market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report.

The home furniture market is segmented by product, distribution channel, and geography. By product, the market is sub-segmented into living room and dining room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, and plastic and other furniture. By distribution channel, the market is sub-segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels and geography, the market is sub-segmented into North America, South America, Europe, Asia-Pacific, and the Middle-East and Africa. The report offers market size and forecasts for the home furniture market in value (USD) for all the above segments."