Keen Insight for Industry Trend: Home Furnishings Market Value Analysis by 2026
Home Furnishing refers to anything that is used to furnish a home, including both furniture and things used to decorate the home and make it more hospitable. Products used for decorating the home, such as desks, tables, chairs, drawers, couches, mattresses, bed frames and headboards, carpets, rugs, wallpaper, blinds, shades and curtains, entertainment centers and stands, wall units, outdoor furniture, etc.
Home Furnishings Market Conspectus
Global Home Furnishings Market Report demonstrated that Home Furnishings market is poised to present surging growth during the predicted period from USD 748,340 million in 2019 to reach USD 1,081,392 million by 2026 with a CAGR of 5.4%. Global economic development, government regulations adjustment, related industry dynamics, industrial upgrading, and competition among market’s participators are some of the key factors that influence the Home Furnishings market development. A distinctive and comprehensive picture of Home Furnishings is embodied in the report.
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Major Participators Landscape
Major market participators covered in our report are IKEA, Walmart, Bed Bath & Beyond, Macy's, Wayfair, Future Group, Haworth, Ashley Furniture, Carrefour, J.C. Penny, Crate & Barrel, Fred Meyer, Herman Miller, Home Depot, Inter IKEA Systems, Tvilum, BERCO DESIGNS, Creative Wood, Godrej & Boyce Manufacturing, HNI, and Kimball International.
As the price and gross profit margin of high-end products are higher than those of low-end products, the company will invest more in R&D and transfer to high-end products in the next few years. In the future, production and consumption are expected to continue to develop at a stable growth rate. In order to meet the large and increasing demand, more and more players will enter this industry.
Market Drivers Abstract
Increasing interest in interior design
Increasing preference for premium or luxury home furnishing products
A rise in household disposable incomes and rapid globalization
Market Challenges Abstract
Uncertainty in the prices of raw materials
Market Trends Abstract
The growing use of RTA furniture especially customized pieces for personal interiors
The emergence of augmented reality (AR) applications for home furnishings
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Home Furnishings Type Abstract
Based on the type, the Home Furnishings can be bifurcated into Home Furniture, Home Textile, Wall Decor, and Others. Home Furniture is the biggest market share. The rise in the average dual-household income and an increase in population will fuel the home furniture segment’s growth prospects. Multifunctional furniture and RTA furniture are among the most used variants of furniture in this segment. Consumers have also started emphasizing on bathroom furniture and are demanding for country and rustic style furniture.
Over the past five years, consumption of home textiles has witnessed consistent growth owing to the demand for rich colors conveying luxury and intricate prints, and the popularity of decorative pillows. while Wall Decor is the fastest growing sector in recent years. In addition, Wall Decor is anticipated to be the fastest growing sector in recent years.
Home Furnishings Application Abstract
Home Furnishings is commonly used in E-Commerce Sales, In-store Sales, and Others.
Key Regions Overview
Major countries of North America, Europe, Asia Pacific, and the rest of the world are all exhaustive analyzed in the report. Apart from this, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.
In 2018, the global market is led by Europe, capturing about 33.52% of global Home Furnishings sales volume. North America is the second-largest region-wise market with 30.65% global share, followed by Asia-Pacific (29.98%). European consumers like interior design and modern trends, promoting the development of this region. The Asia-Pacific region offers market participants plenty of opportunities as countries like China, India, and Japan are some the fastest growing home furniture markets. Driving home furniture market growth in this region is the rise in average dual-household income and an increase in population. However, EMEA will be the major revenue contributor to the market by 2021. The demand for furniture in the region is driven by the aesthetically appealing luxury furniture made of good-quality raw materials.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Home Furnishings Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Home Furnishings Market by Types
4 Segmentation of Home Furnishings Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Home Furnishings Market in Major Countries
7 North America Home Furnishings Landscape Analysis
8 Europe Home Furnishings Landscape Analysis
9 Asia Pacific Home Furnishings Landscape Analysis
10 Latin America, Middle East & Africa Home Furnishings Landscape Analysis
11 Major Players Profile
11.1 IKEA
11.1.1 IKEA Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Walmart
11.3 Bed Bath & Beyond
11.4 Macy's
11.5 Wayfair
11.6 Future Group
11.7 Haworth
11.8 Ashley Furniture
11.9 Carrefour
11.10 J.C. Penny
11.11 Crate & Barrel
11.12 Fred Meyer
11.13 Herman Miller
11.14 Home Depot
11.15 Inter IKEA Systems
11.16 Tvilum
11.17 BERCO DESIGNS
11.18 Creative Wood
11.19 Godrej & Boyce Manufacturing
11.20 HNI
…
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Target Audience:
Home Furnishings manufacturers
Raw material suppliers of Home Furnishings
Distributors and resellers of Home Furnishings
Home Furnishings industry associations
Product managers, Home Furnishings industry administrator, C-level executives of the industries
Market Research and consulting firms
Small and Medium-sized Enterprises (SMEs)
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