United States Furniture Market Introduction and Overview
According to SPER Market Research, the United States Furniture Market is estimated to reach USD 40.74 billion by 2033 with CAGR of 4.02%.
The report includes an in-depth analysis of the United States Furniture Market, including market size and trends, product mix, applications, and supplier analysis. The complete furniture production, distribution, and consumption ecosystem found inside US borders is referred to as the "United States Furniture Market." To meet diverse consumer needs, this market is divided into a number of sectors, including those for outdoor, office, and residential furnishings. Factors such as consumer trends, economic situations, technical breakthroughs, and regulatory policies impact the growth and performance of the industry.
April 2021: Three new engineering centers were opened by Wayfair Inc., the biggest home furniture business, in Toronto, Ontario, Canada; Austin, Texas; and the San Francisco Bay Area of California. Over the next two years, the company plans to add over 1,000 technologists for its world-class engineering group worldwide.
- April 2022: The TJX Companies, Inc. revealed New Global Environmental Goals, one of which was to attain net zero emissions from its operations by 2040.
Market Opportunities and Challenges
The furniture market in the United States has enormous room for innovation and diversification. Manufacturers have the chance to take advantage of digital transformation and use e-commerce platforms to connect with more consumers. Furthermore, satisfying the market's need for adaptable and multipurpose furniture options offers a substantial growth path. Numerous reasons, including consumers' increased disposable income, fast urbanization, shifting lifestyles, and an increasing desire for sustainable and eco-friendly furniture materials, are driving the US furniture market. The major players in the market are investing more in marketing and promotions, which is giving the industry profitable growth prospects. Additionally, the market has benefited from the growing emphasis on designing adaptable and compact furniture options to fit smaller living areas. The middle class now prefers to purchase affordable goods over ostentatious ones when it comes to home furnishings. It is anticipated that this will impede market expansion. Furthermore, the growth of major companies' businesses is being hindered by intense competition from disorganized key players in different countries across the world. It is anticipated that fluctuating import and customs taxes on fixture goods in numerous nations will pose challenges to the industry's overall expansion.
Market Competitive Landscape
Large-scale furniture manufacturers, specialized companies, and internet sellers coexist in the fiercely competitive US furniture market. To obtain a competitive edge, major competitors in the market concentrate on product innovation, quality, pricing, and marketing. Furthermore, firms frequently use mergers and acquisitions as a strategy to increase their market presence. Some of major players are MillerKnoll Inc. (Herman Miller), Steelcase Inc., La-Z-Boy Incorporated, Haworth Inc., Ashley Furniture Industries LLC, Kimball International Inc., Okamura Corporation , Inter IKEA Systems B.V., American Signature Inc. and various others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By Distribution Channel
|
| Regions covered | Northeast, Midwest, South and West
|
| Companies Covered | MillerKnoll Inc. (Herman Miller), Steelcase Inc. La-Z-Boy Incorporated, Haworth Inc. , Ashley Furniture Industries LLC , Kimball International Inc. , Okamura Corporation , Inter IKEA Systems B.V., American Signature Inc. and various others. |
COVID-19 Impact on United States Furniture Market
The COVID-19 pandemic has put pressure on the construction industry in most parts of the nation, but depending on shifting market dynamics, it is anticipated that the situation may return to pre-pandemic levels. Online orders for furnishings for homes in the US increased dramatically as a result of the lockdown and pandemic. The furniture business was significantly impacted by the COVID-19 pandemic that struck in the first few months of 2020. The nations that mostly depend on furniture imports have been greatly impacted by the interruption in the supply chain and the temporary suspension of international trade. The COVID-19 epidemic also demonstrated how critical it is for this sector to increase automation and digitization while reducing its reliance on imports.
Key Target Audience:
- Consumers
- Interior Designers
- Architects and Builders
- Retailers
- Hospitality Industry
- Office and Commercial Spaces
- Real Estate Developers
- Furniture Manufacturers
- Wholesalers and Distributors
- E-commerce Platforms
- Government and Institutions
- Media and Influencers
Our in-depth analysis of the United States Furniture Market includes the following segments:
|
By Product: |
Bathroom Furniture
Kitchen Furniture
Living and Bedroom Furniture
Other Furniture
Outdoor Furniture
|
|
By Distribution Channel: |
Flagship Stores
Home Centers
Online Stores
Specialty Stores
|
|
By Region: |
Midwest
Northeast
South
West
|
Key Topics Covered in the Report:
- United States Furniture Market Size (FY’2023-FY’2033)
- Overview of United States Furniture Market
- Segmentation of United States Furniture Market By Product (Kitchen Furniture, Living and Bedroom Furniture, Bathroom Furniture, Outdoor Furniture, and Other Furniture)
- Segmentation of United States Furniture Market By Distribution Channel (Home Centres, Flagship Stores, Specialty Stores, Online Stores, and Other Distribution Channels)
- Statistical Snap of United States Furniture Market
- Expansion Analysis of United States Furniture Market
- Problems and Obstacles in United States Furniture Market
- Competitive Landscape in the United States Furniture Market
- Impact of COVID-19 and Demonetization on United States Furniture Market
- Details on Current Investment in United States Furniture Market
- Competitive Analysis of United States Furniture Market
- Prominent Players in the United States Furniture Market
- SWOT Analysis of United States Furniture Market
1.2. Market segment analysis
2.1. Research data source
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.2. COVID-19 Impacts of the United States Furniture Market
5. Market variable and outlook
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
6.1. United States Furniture Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Furniture Market
7. United States Furniture Market, By Product, 2019-2033 (USD Million)
7.1. United States Furniture Market Value Share and Forecast, By Product , 2023-2033
7.4. Living and Bedroom Furniture
8. United States Furniture Market, By Distribution Channel, 2019-2033 (USD Million)
8.1. United States Furniture Market Value Share and Forecast, By Distribution Channel , 2023-2033
8.6. Other Distribution Channels
9. United States Furniture Market Forecast, 2019-2033 (USD Million)
9.1. United States Furniture Market Size and Market Share
10. United States Furniture Market, By Product, 2019-2033 (USD Million)
10.1. United States Furniture Market Size and Market Share By Product (2019-2026)
10.2. United States Furniture Market Size and Market Share By Product (2027-2033)
11. United States Furniture Market, By Distribution Channel , 2019-2033 (USD Million)
11.1. United States Furniture Market Size and Market Share By Distribution Channel (2019-2026)
11.2. United States Furniture Market Size and Market Share By Distribution Channel (2027-2033)
12. United States Furniture Market, By Region, 2019-2033 (USD Million)
12.1. United States Furniture Market Size and Market Share By Region (2019-2026)
12.2.1. Midwest
13.1. Ashley Furniture Industries LLC
13.1.2. Financial outlook
13.1.4. Recent developments
13.2. American Signature Inc.
13.2.2. Financial outlook
13.2.4. Recent developments
13.3. Inter IKEA Systems B.V.
13.3.2. Financial outlook
13.3.4. Recent developments
13.4.2. Financial outlook
13.4.4. Recent developments
13.5. Inter IKEA Systems B.V.
13.5.2. Financial outlook
13.5.4. Recent developments
13.6. Kimball International Inc.
13.6.2. Financial outlook
13.6.4. Recent developments
15 List of Abbreviations
16 Reference Links
17 Conclusion
18 Research Scope