Home Furniture Market in the US to grow by USD 13.32 billion from 2022 to 2027, Driven by the improving residential construction market

NEW YORK, March 27, 2023 /PRNewswire/ — The global home furniture market in the US size is estimated to grow by USD 13.32 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.7% during the forecast period. The improving residential construction market is significantly fueling the US home furniture market growth. The growth can be attributed to the rising of the real estate industry in the US. The growth in the number of working women has increased the demand for service apartments and single-story houses. The increasing immigrant population in the US is also fueling the rapid growth of the real estate industry, coupled with many young adults forming households. 

For more insights on the historic market data (2017 to 2021) and forecast market size
(2023 to 2027) – Request a sample report

What’s New?

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial  – buy the report!

Home Furniture Market in the US – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (living room furniture, bedroom furniture, storage furniture, and others) and distribution channel (brick and mortar and online mode).

• The market share growth by the living room furniture segment will be significant for market growth during the forecast period. Consumers with higher purchasing power are likely to spend more on living room furniture, such as sofas and couches, entertainment units, and tables and tabletops. This drives the growth of the segment, fueling the overall market growth.

Insights on the market contribution of various segments including country and region
wise, historic (2017 to 2021), and forecast market size (2023 to 2027) – Download a
Sample Report

Home Furniture Market in the US – Vendor Analysis

Vendor Landscape – The home furniture market in the US is characterized by the presence of numerous large and medium-sized manufacturers. American Furniture Manufacturing Inc., Ashley home stores Ltd., Bassett Furniture Industries, Berkshire Hathaway Inc., Crate and Barrel, Dorel Industries Inc., Ethan Allen Interiors Inc., Inter IKEA Holding B.V., Klaussner Home Furnishings, LaZBoy Inc., Penney OpCo LLC, Pier 1 Imports Online Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Sauder Woodworking Co., Sleep Number Corp., Steinhoff International Holdings NV, Wayfair Inc., and Williams Sonoma Inc. are some of the major players in the market.

Home Furniture Market in the US – Market Dynamics

Leading trends influencing the market 

The surging demand for eco-friendly furniture is a major trend influencing the US home furniture market growth. Green furniture or eco-friendly furniture is expected to gain momentum during the forecast period, with the rising demand for sustainable products. Awareness about the benefits of using eco-friendly or green furniture has increased resulting in manufacturers catering to the demands of consumers without causing any damage to the environment. For instance, Crate and Barrel, a North American home furniture retailer, works directly with the Tropical Forest Trust to provide products, including the plantation-grown teak Pacifica dining collection, Blake media cabinets, accent tables, and occasional chairs. It also provides innovative designs such as Cabria dining, Faulkner media, Dawson bedroom, and Basque dining.

Major challenges hindering the market growth

The inherent threat from re-used furniture market may impede the US home furniture market growth. Furniture is no longer considered a one-time investment. It becomes outdated in a very short span of time with the introduction of newer styles at frequent intervals. Millennials prefer reused or refurbished furniture, especially those with low financial stability, and buy refurbished furniture items at lower prices, which impacts the revenues of the sellers of new furniture. Hence, the changing preference for refurbished and reused furniture poses a threat to market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and
forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Home Furniture Market In US report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home furniture market in the US between 2023 and 2027
• Precise estimation of the size of thehome furniture market in the US and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the home furniture market across the US
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of home furniture market in the US vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The home furniture and bedding market in the US is projected to grow by USD 10.86 billion with a CAGR of 2.96% during the forecast period 2021 to 2026. Surging demand for eco-friendly furniture is the key trend driving the home furniture and bedding market growth in the US. 

The upholstered furniture market size is expected to increase by USD 15.96 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.04%. The rising influence of different retailing channels is a major factor driving the global upholstered furniture market share growth. 

Browse for Technavio Consumer Discretionary market reports        

Table of Contents    

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 11: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Home furniture market in US 2017 – 2021
• Exhibit 15: Historic Market Size – Data Table on Home furniture market in US 2017 – 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 – 2021
• Exhibit 16: Historic Market Size – Product Segment 2017 – 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 – 2021
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 18: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 24: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 25: Chart on Product – Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product – Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 6.3 Living room furniture – Market size and forecast 2022-2027 
• Exhibit 29: Chart on Living room furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Living room furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Living room furniture – Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Living room furniture – Year-over-year growth 2022-2027 (%)

• 6.4 Bedroom furniture – Market size and forecast 2022-2027 
• Exhibit 33: Chart on Bedroom furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Bedroom furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Bedroom furniture – Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Bedroom furniture – Year-over-year growth 2022-2027 (%)

• 6.5 Storage furniture – Market size and forecast 2022-2027 
• Exhibit 37: Chart on Storage furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Storage furniture – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Storage furniture – Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Storage furniture – Year-over-year growth 2022-2027 (%)

• 6.6 Others – Market size and forecast 2022-2027
• Exhibit 41: Chart on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 42: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Product 
• Exhibit 45: Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 46: Chart on Distribution Channel – Market share 2022-2027 (%)
• Exhibit 47: Data Table on Distribution Channel – Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 48: Chart on Comparison by Distribution Channel
• Exhibit 49: Data Table on Comparison by Distribution Channel

• 7.3 Brick and mortar – Market size and forecast 2022-2027
• Exhibit 50: Chart on Brick and mortar – Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Brick and mortar – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Brick and mortar – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Brick and mortar – Year-over-year growth 2022-2027 (%)

• 7.4 Online mode – Market size and forecast 2022-2027
• Exhibit 54: Chart on Online mode – Market size and forecast 2022-2027 ($ billion)
• Exhibit 55: Data Table on Online mode – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Chart on Online mode – Year-over-year growth 2022-2027 (%)
• Exhibit 57: Data Table on Online mode – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 58: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.3 Impact of drivers and challenges 
• Exhibit 60: Impact of drivers and challenges in 2022 and 2027

10 Vendor Landscape

• 10.2 Vendor landscape 
• Exhibit 61: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 62: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 63: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 64: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 65: Matrix on vendor position and classification

• 11.3 American Furniture Manufacturing Inc.
• Exhibit 66: American Furniture Manufacturing Inc. – Overview
• Exhibit 67: American Furniture Manufacturing Inc. – Product / Service
• Exhibit 68: American Furniture Manufacturing Inc. – Key offerings

• 11.4 Ashley home stores Ltd. 
• Exhibit 69: Ashley home stores Ltd. – Overview
• Exhibit 70: Ashley home stores Ltd. – Product / Service
• Exhibit 71: Ashley home stores Ltd. – Key offerings

• 11.5 Bassett Furniture Industries 
• Exhibit 72: Bassett Furniture Industries – Overview
• Exhibit 73: Bassett Furniture Industries – Product / Service
• Exhibit 74: Bassett Furniture Industries – Key offerings

• 11.6 Berkshire Hathaway Inc. 
• Exhibit 75: Berkshire Hathaway Inc. – Overview
• Exhibit 76: Berkshire Hathaway Inc. – Business segments
• Exhibit 77: Berkshire Hathaway Inc. – Key news
• Exhibit 78: Berkshire Hathaway Inc. – Key offerings
• Exhibit 79: Berkshire Hathaway Inc. – Segment focus

• 11.7 Ethan Allen Interiors Inc. 
• Exhibit 80: Ethan Allen Interiors Inc. – Overview
• Exhibit 81: Ethan Allen Interiors Inc. – Business segments
• Exhibit 82: Ethan Allen Interiors Inc. – Key offerings
• Exhibit 83: Ethan Allen Interiors Inc. – Segment focus

• 11.8 Inter IKEA Holding B.V. 
• Exhibit 84: Inter IKEA Holding B.V. – Overview
• Exhibit 85: Inter IKEA Holding B.V. – Product / Service
• Exhibit 86: Inter IKEA Holding B.V. – Key offerings

• 11.9 Klaussner Home Furnishings 
• Exhibit 87: Klaussner Home Furnishings – Overview
• Exhibit 88: Klaussner Home Furnishings – Product / Service
• Exhibit 89: Klaussner Home Furnishings – Key offerings

• 11.10 LaZBoy Inc. 
• Exhibit 90: LaZBoy Inc. – Overview
• Exhibit 91: LaZBoy Inc. – Business segments
• Exhibit 92: LaZBoy Inc. – Key offerings
• Exhibit 93: LaZBoy Inc. – Segment focus

• 11.11 Penney OpCo LLC 
• Exhibit 94: Penney OpCo LLC – Overview
• Exhibit 95: Penney OpCo LLC – Product / Service
• Exhibit 96: Penney OpCo LLC – Key offerings

• 11.12 Pier 1 Imports Online Inc. 
• Exhibit 97: Pier 1 Imports Online Inc. – Overview
• Exhibit 98: Pier 1 Imports Online Inc. – Business segments
• Exhibit 99: Pier 1 Imports Online Inc. – Key offerings
• Exhibit 100: Pier 1 Imports Online Inc. – Segment focus

• 11.13 Raymour and Flanigan Furniture and Mattresses
• Exhibit 101: Raymour and Flanigan Furniture and Mattresses – Overview
• Exhibit 102: Raymour and Flanigan Furniture and Mattresses – Product / Service
• Exhibit 103: Raymour and Flanigan Furniture and Mattresses – Key offerings

• 11.14 Restoration Hardware Inc. 
• Exhibit 104: Restoration Hardware Inc. – Overview
• Exhibit 105: Restoration Hardware Inc. – Business segments
• Exhibit 106: Restoration Hardware Inc. – Key offerings
• Exhibit 107: Restoration Hardware Inc. – Segment focus

• 11.15 Roomstogo.com Inc. 
• Exhibit 108: Roomstogo.com Inc. – Overview
• Exhibit 109: Roomstogo.com Inc. – Product / Service
• Exhibit 110: Roomstogo.com Inc. – Key offerings

• 11.16 Steinhoff International Holdings NV
• Exhibit 111: Steinhoff International Holdings NV – Overview
• Exhibit 112: Steinhoff International Holdings NV – Business segments
• Exhibit 113: Steinhoff International Holdings NV – Key offerings
• Exhibit 114: Steinhoff International Holdings NV – Segment focus

• 11.17 Williams Sonoma Inc. 
• Exhibit 115: Williams Sonoma Inc. – Overview
• Exhibit 116: Williams Sonoma Inc. – Business segments
• Exhibit 117: Williams Sonoma Inc. – Key news
• Exhibit 118: Williams Sonoma Inc. – Key offerings
• Exhibit 119: Williams Sonoma Inc. – Segment focus

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 120: Inclusions checklist
• Exhibit 121: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 122: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 123: Research methodology
• Exhibit 124: Validation techniques employed for market sizing
• Exhibit 125: Information sources

• 12.5 List of abbreviations 
• Exhibit 126: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio