Home furnishings market to grow at a CAGR of 7.17% from 2022 to 2027 | Demand for high-end and luxury home furnishings will drive growth - Technavio

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The home furnishings market size is estimated to grow by USD 473.96 million from 2022 to 2027 at a CAGR of 7.17% according to Technavio. Download a sample report now!

Home furnishings market Insights -

• Vendors: 15+, Including American Furniture Manufacturing Inc., Ashley Furniture Industries LLC, Bassett Furniture Industries, Bed Bath and Beyond Inc., Duresta Upholstery Ltd., Ethan Allen Interiors Inc., Future Group, Godrej and Boyce Manufacturing Co. Ltd., Inter IKEA Holding BV, Kroger Co., Mannington Mills Inc., MillerKnoll Inc., Mohawk Industries Inc., Otto GmbH and Co. KG, Penney OpCo LLC, Pepperfry Pvt. Ltd., Shaw Industries Group Inc., Steinhoff International Holdings NV, Tvilum AS, and Wayfair Inc., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Product (Home furniture, Home textiles, and Floor coverings), Distribution Channel (Offline and Online), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

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Home furnishings market - Company Insights

The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including American Furniture Manufacturing Inc., Ashley Furniture Industries LLC, Bassett Furniture Industries, Bed Bath and Beyond Inc., Duresta Upholstery Ltd., Ethan Allen Interiors Inc., Future Group, Godrej and Boyce Manufacturing Co. Ltd., Inter IKEA Holding BV, Kroger Co., Mannington Mills Inc., MillerKnoll Inc., Mohawk Industries Inc., Otto GmbH and Co. KG, Penney OpCo LLC, Pepperfry Pvt. Ltd., Shaw Industries Group Inc., Steinhoff International Holdings NV, Tvilum AS, and Wayfair Inc.

Home furnishings market – Market Dynamics

Major Drivers - 

• Growing demand for high-end and luxury home furnishings drives the home furnishing market growth.
• Consumers look out for unique and designer home furnishings owing to the significant growth of home furnishings.
• They also opt for luxury furnishing brands because of economic growth and a rising in disposable incomes.
• The rising significance of home furnishing has prompted consumers to look out for unique and designer floor coverings.
• Hence, such factors drive the market growth of home furnishing during the forecast period.

Significant Trends -

• An increase in demand for eco-friendly home furnishings is an emerging home furnishing market trend.
• The demand for eco-friendly furniture and other furnishings has been growing due to actors such as growing environmental consciousness and concerns for a healthy and green environment.
• Also, manufacturers use only Moso bamboo, which is stronger and harder than oak, to offer a wide range of furniture that has an aesthetic appeal.
• Hence, such trends fuel the growth of the home furnishing market during the forecast period.

Key challenges - 

• Uncertainty in the prices of raw materials challenges the growth of the home furnishing market.
• The rising prices of high-quality raw materials impact the manufacturing costs of home furnishing products, which usually transmit to consumers through increased prices and can restrict the volume of sales.
• But the increased manufacturing capacity in China has created a global shortage of raw materials.
• Hence, such challenges hinder the growth of the home furnishing market during the forecast period.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The home furnishings market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Home furnishings market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home furnishing market between 2023 and 2027
• Precise estimation of the size of the home furnishing market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the home furnishing market across Europe, North America, APAC, Middle East and Africa, and South America
• 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 furnishing market vendors

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Related Reports:

The home furnishings market size in Europe is estimated to grow at a CAGR of 6.46% between 2022 and 2027. The home furnishings market in Europe market size is forecast to increase by USD 171.19 billion. This home furnishings market report in Europe extensively covers market segmentation by distribution channel (offline and online) and product (home furniture, home textiles, and floor coverings). The growth of the real estate and construction industry is notably driving market growth.

The homeware market is estimated to grow at a CAGR of 3.54% between 2022 and 2027. The size of the market is forecast to increase by USD 94.05 billion. This report extensively covers market segmentation by product (hardware, soft furnishing and textile, lighting, and window dressing), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The growing construction industry globally is notably driving market growth.

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 Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global home furnishings market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global home furnishings market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Home furniture - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Home furniture - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Home furniture - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Home furniture - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Home furniture - Year-over-year growth 2022-2027 (%)

• 6.4 Home textiles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Home textiles - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Home textiles - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Home textiles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Home textiles - Year-over-year growth 2022-2027 (%)

• 6.5 Floor coverings - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Floor coverings - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Floor coverings - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Floor coverings - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Floor coverings - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ million)
• Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 50: Chart on Comparison by Distribution Channel
• Exhibit 51: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 60: Market opportunity by Distribution Channel ($ million)
• Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 France - Market size and forecast 2022-2027 
• Exhibit 95: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 American Furniture Manufacturing Inc. 
• Exhibit 115: American Furniture Manufacturing Inc. - Overview
• Exhibit 116: American Furniture Manufacturing Inc. - Product / Service
• Exhibit 117: American Furniture Manufacturing Inc. - Key offerings

• 12.4 Ashley Furniture Industries LLC 
• Exhibit 118: Ashley Furniture Industries LLC - Overview
• Exhibit 119: Ashley Furniture Industries LLC - Product / Service
• Exhibit 120: Ashley Furniture Industries LLC - Key offerings

• 12.5 Bassett Furniture Industries 
• Exhibit 121: Bassett Furniture Industries - Overview
• Exhibit 122: Bassett Furniture Industries - Business segments
• Exhibit 123: Bassett Furniture Industries - Key offerings
• Exhibit 124: Bassett Furniture Industries - Segment focus

• 12.6 Bed Bath and Beyond Inc. 
• Exhibit 125: Bed Bath and Beyond Inc. - Overview
• Exhibit 126: Bed Bath and Beyond Inc. - Product / Service
• Exhibit 127: Bed Bath and Beyond Inc. - Key news
• Exhibit 128: Bed Bath and Beyond Inc. - Key offerings

• 12.7 Ethan Allen Interiors Inc. 
• Exhibit 129: Ethan Allen Interiors Inc. - Overview
• Exhibit 130: Ethan Allen Interiors Inc. - Business segments
• Exhibit 131: Ethan Allen Interiors Inc. - Key offerings
• Exhibit 132: Ethan Allen Interiors Inc. - Segment focus

• 12.8 Future Group
• Exhibit 133: Future Group - Overview
• Exhibit 134: Future Group - Product / Service
• Exhibit 135: Future Group - Key offerings

• 12.9 Godrej and Boyce Manufacturing Co. Ltd. 
• Exhibit 136: Godrej and Boyce Manufacturing Co. Ltd. - Overview
• Exhibit 137: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
• Exhibit 138: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
• Exhibit 139: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus

• 12.10 Inter IKEA Holding BV 
• Exhibit 140: Inter IKEA Holding BV - Overview
• Exhibit 141: Inter IKEA Holding BV - Product / Service
• Exhibit 142: Inter IKEA Holding BV - Key news
• Exhibit 143: Inter IKEA Holding BV - Key offerings

• 12.11 Kroger Co.
• Exhibit 144: Kroger Co. - Overview
• Exhibit 145: Kroger Co. - Product / Service
• Exhibit 146: Kroger Co. - Key news
• Exhibit 147: Kroger Co. - Key offerings

• 12.12 MillerKnoll Inc.
• Exhibit 148: MillerKnoll Inc. - Overview
• Exhibit 149: MillerKnoll Inc. - Business segments
• Exhibit 150: MillerKnoll Inc. - Key offerings
• Exhibit 151: MillerKnoll Inc. - Segment focus

• 12.13 Otto GmbH and Co. KG
• Exhibit 152: Otto GmbH and Co. KG - Overview
• Exhibit 153: Otto GmbH and Co. KG - Business segments
• Exhibit 154: Otto GmbH and Co. KG - Key news
• Exhibit 155: Otto GmbH and Co. KG - Key offerings
• Exhibit 156: Otto GmbH and Co. KG - Segment focus

• 12.14 Penney OpCo LLC
• Exhibit 157: Penney OpCo LLC - Overview
• Exhibit 158: Penney OpCo LLC - Product / Service
• Exhibit 159: Penney OpCo LLC - Key offerings

• 12.15 Steinhoff International Holdings NV 
• Exhibit 160: Steinhoff International Holdings NV - Overview
• Exhibit 161: Steinhoff International Holdings NV - Business segments
• Exhibit 162: Steinhoff International Holdings NV - Key offerings
• Exhibit 163: Steinhoff International Holdings NV - Segment focus

• 12.16 Tvilum AS
• Exhibit 164: Tvilum AS - Overview
• Exhibit 165: Tvilum AS - Product / Service
• Exhibit 166: Tvilum AS - Key offerings

• 12.17 Wayfair Inc.
• Exhibit 167: Wayfair Inc. - Overview
• Exhibit 168: Wayfair Inc. - Business segments
• Exhibit 169: Wayfair Inc. - Key news
• Exhibit 170: Wayfair Inc. - Key offerings
• Exhibit 171: Wayfair Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: 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.

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Email: [email protected]
Website: www.technavio.com

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