Furniture Market Report 2024 (Global Edition)

Global Furniture Market Report 2024 Market Size Split by Material (Solid Wood, Metal, Jade, Glass, Others), by Application (Household, Office, Hospital, Outdoor, Others), by Category (Indoor, Outdoor)...

Furniture Market Report Description

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Furniture Market Insights Video

Competitive Landscape of the Furniture Market

The competitive landscape of the furniture market is diverse and dynamic, characterized by a mix of well-established players and emerging entrants. Competition is fierce, with companies vying for market share through innovations in design, sustainability, and technology integration. The market also sees a significant influence of global trends and consumer preferences, which drive the need for customization and functionality. Additionally, online retail platforms are reshaping competition, allowing smaller players to gain visibility and challenge larger incumbents by reaching broader markets directly.

Top Companies Market Share in Furniture Industry: (In no particular order of Rank)

• Harman Miller Inc.
• Steelcase Inc.
• HNI Corporation
• Ashley Furniture Industries Inc.
• Duff & Phelps
• LLC.
• Global Furniture USA
• ZouYou
• P & C ArteMobili SA
• Saudi Modern Factory Co.
• DEDON GmbH
• Dare Studio
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Furniture Market

Which Region Dominates the Furniture Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue primarily due to its strong economic standing and high consumer spending capability. The region sees significant investments in residential and commercial real estate, which continuously fuels the demand for diverse furniture types. Additionally, the trend towards home renovation and customization in lifestyle preferences plays a crucial role in driving sales. The presence of several large-scale manufacturers and a mature retail infrastructure, including expansive e-commerce platforms, also facilitates the reach and availability of various furniture offerings to a broad consumer base, further boosting the market's growth.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the furniture market driven by rapid urbanization and economic development across major countries like China, India, and Southeast Asia. The expanding middle class in these countries, coupled with increasing disposable incomes, fuels demand for both residential and office furniture. Furthermore, the region's booming real estate sector, supported by government initiatives for infrastructure development, significantly contributes to the furniture market's expansion. Additionally, the growing influence of Western lifestyle trends and increased consumer awareness about interior design enhance the demand for modern and stylish furniture in Asia-Pacific.

The current report Scope analyzes Furniture Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Furniture

According to Cognitive Market Research, the global Furniture market size was estimated at USD 548954.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 219581.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.

• In North America, furniture sales are expected to rise due to the increasing trend of home automation and smart furniture, integrating technology into everyday living spaces for enhanced comfort and convenience.
• The region's robust e-commerce infrastructure also makes furniture more accessible to consumers, allowing for easy comparison, customization, and delivery.
• As urban populations grow, there's a rising demand for multifunctional furniture catering to smaller living spaces.
• The highest market share belongs to the household segment, where ongoing investments in residential developments and interior design innovations drive sustained growth.
• According to Cognitive Market Research, The United States furniture market had a market share of USD 173249.95 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period.
• Rising affluence and a robust housing market fuel furniture sales, with eco-friendly and smart furniture trends further invigorating the market.
• Canada's furniture market had a market share of USD 26349.80 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period.
• Increasing immigration rates and urban expansion drive the demand for new residential furnishings, supporting sustained growth in the furniture sector.
• Mexico's furniture market had a market share of USD 19981.93 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period.

Europe Furniture

According to Cognitive Market Research, the global Furniture market size was estimated at USD 548954.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 164686.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.

• Europe's furniture market is set to expand with the aging population seeking ergonomic furniture solutions that enhance comfort and livability, particularly in Western Europe where there is a significant elderly demographic.
• Additionally, Europe’s strong focus on environmental sustainability influences the demand for eco-friendly furniture, made from recycled materials or designed for longer life cycles.
• The cultural emphasis on aesthetics and quality craftsmanship also supports the market's expansion.
• In Europe, the indoor furniture segment holds the highest market share, thriving on the continent’s appreciation for interior design and heritage craftsmanship styles that blend modernity with tradition.
• The United Kingdom furniture market had a market share of USD 27667.29 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period.
• The UK sees growth driven by a surge in home renovations and a strong real estate market, with consumers prioritizing sustainable and locally sourced products.
• France's furniture market had a market share of USD 15151.14 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period.
• Germany's furniture market had a market share of USD 32607.88 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period.
• Germany’s strong manufacturing base and high consumer demand for quality and eco-friendly furniture underpin steady market growth.
• Italy's furniture market had a market share of USD 14163.02 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period.
• Russia's furniture market had a market share of USD 25526.37 million in 2024 and is projected to grow at a CAGR of 3.1% during the forecast period.
• Spain's furniture market had a market share of USD 13504.27 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period.
• Luxembourg's furniture market had a market share of USD 5105.27 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period.
• Portugal's furniture market had a market share of USD 3458.41 million in 2024 and is projected to grow at a CAGR of 3.9% during the forecast period.
• Greece's furniture market had a market share of USD 1976.24 million in 2024 and is projected to grow at a CAGR of 4.4% during the forecast period.
• The Rest of Europe furniture market had a market share of USD 25526.37 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period.

Asia Pacific Furniture

According to Cognitive Market Research, the global Furniture market size was estimated at USD 548954.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 126259.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

• Asia Pacific is witnessing a surge in furniture sales fueled by rapid urbanization and the growing affluence of the middle class, leading to an increased expenditure on household goods.
• The region's booming real estate sector, particularly in China and India, directly boosts demand for both residential and commercial furniture.
• Moreover, the rising influence of Western lifestyles and an increase in single-person households encourage diverse furniture needs.
• Outdoor furniture is gaining the highest market share in this region, propelled by increasing interest in outdoor living spaces and commercial settings like cafes and restaurants embracing alfresco dining trends.
• According to Cognitive Market Research, China's furniture market had a market share of USD 56816.76 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period.
• Rapid urbanization and increasing middle-class prosperity boost furniture sales, with an emphasis on innovative and culturally inspired designs.
• Japan's furniture market had a market share of USD 17423.81 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period.
• India's furniture market had a market share of USD 15151.14 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period.
• A burgeoning middle class and increasing urbanization lead to significant demand for both home and office furniture, propelled by growing economic stability.
• South Korea's furniture market had a market share of USD 12625.95 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period.
• Australia's furniture market had a market share of USD 6565.49 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period.
• The South East Asia furniture market had a market share of USD 8711.90 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period.
• The Rest of Asia Pacific furniture market had a market share of USD 8964.42 million in 2024 and is projected to grow at a CAGR of 7.4% during the forecast period.

South America Furniture

According to Cognitive Market Research, the global Furniture market size was estimated at USD 548954.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 27447.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

• In Latin America, economic recovery and stabilization will boost consumer confidence and discretionary spending, including on furniture.
• The expansion of local manufacturing capabilities, coupled with import reductions, fosters a market more reliant on and responsive to domestic trends and consumer preferences.
• Additionally, the growing penetration of international furniture brands introduces new design paradigms and innovation into the market.
• Office furniture in Latin America is set to capture the highest market share, driven by modernization of business infrastructure and the increasing adoption of hybrid work models necessitating well-equipped home offices.
• According to Cognitive Market Research, Brazil's furniture market had a market share of USD 11747.62 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period.
• Economic recovery and increased consumer spending power fuel the demand for modern and stylish furniture in Brazil's expanding urban areas.
• Argentina's furniture market had a market share of USD 4611.22 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period.
• Despite economic fluctuations, Argentina's furniture market is buoyed by a trend towards smaller, more versatile home furnishings in urban settings.
• Colombia's furniture market had a market share of USD 2442.85 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period.
• Peru's furniture market had a market share of USD 2250.71 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period.
• Chile's furniture market had a market share of USD 1976.24 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period.
• The Rest of Latin America furniture market had a market share of USD 4419.08 million in 2024 and is projected to grow at a CAGR of 4.1% during the forecast period.

Middle East and Africa Furniture

According to Cognitive Market Research, the global Furniture market size was estimated at USD 548954.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 10979.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

• The MEA region is experiencing increased furniture sales due to the expansion of the hospitality and luxury residential sectors, particularly in the Gulf countries.
• Investments in tourism and infrastructure projects, including hotels and commercial complexes, require substantial quantities of high-quality furniture.
• Additionally, a growing young population and increasing urbanization contribute to the demand for modern and stylish furniture solutions.
• The solid wood furniture segment holds the highest market share here, favored for its durability and luxury appeal, matching the aesthetic preferences and climatic conditions of the region.
• The GCC Countries furniture market had a market share of USD 4699.05 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period.
• Luxurious real estate projects and a preference for opulent, high-quality furniture drive market growth in the Gulf Cooperation Council countries.
• Egypt's furniture market had a market share of USD 1152.80 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period.
• South Africa's furniture market had a market share of USD 1734.70 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period.
• South Africa's growing tourism industry and expanding hospitality sector create substantial demand for new and diverse types of furniture.
• Turkey's furniture market had a market share of USD 944.20 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period.
• Nigeria's furniture market had a market share of USD 1152.80 million in 2024 and is projected to grow at a CAGR of 4.4% during the forecast period.
• The Rest of MEA furniture market had a market share of USD 1295.53 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period.

Furniture Market Analysis

Furniture Market Material Type Segment Analysis

According to Cognitive Market Research, solid wood stands out as the dominating category due to its durability, aesthetic appeal, and perceived value. As consumers increasingly prioritize sustainability and quality in their purchasing decisions, solid wood furniture, known for its longevity and classic look, remains a preferred choice. This segment benefits from the rising trend of eco-conscious consumerism, as solid wood is often sourced from sustainable practices. Moreover, the timeless nature of solid wood furniture appeals to both traditional and contemporary design preferences, ensuring its continued popularity.

Metal emerges as the fastest-growing category in the furniture market driven by its versatility and modern appeal. Ideal for both indoor and outdoor settings due to its durability and ease of maintenance, metal furniture aligns well with contemporary design trends favoring minimalist and industrial aesthetics. Additionally, advancements in metal processing and coating technologies have enhanced the functionality and variety of metal furniture, making it more rust-resistant and suitable for varied climates and uses, further boosting its market growth.

• Solid Wood
• Metal
• Jade
• Glass
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Furniture Industry. Request a Free Sample PDF!

Furniture Market Application Segment Analysis

According to Cognitive Market Research, the dominating category is household due to the inherent need for furniture in personal living spaces. As housing markets continue to expand and more individuals invest in home ownership or renovations, the demand for household furniture naturally increases. Trends in interior decorating also fuel continual upgrades and redesigns of home furnishings. Additionally, the rise in remote work has led many to create more comfortable and functional home environments, supporting sustained growth in this segment.

The fastest-growing category in the furniture market is office driven by evolving workplace dynamics and the increasing focus on ergonomic office solutions. As businesses adapt to changing work models, including hybrid and fully remote setups, there is a heightened demand for innovative office furniture that accommodates these new work environments. Furthermore, companies are investing in redesigning office spaces to enhance aesthetics and employee well-being, which promotes productivity and employee satisfaction, thereby pushing the demand for modern office furniture even higher.

• Household
• Office
• Hospital
• Outdoor
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Furniture Category Segment Analysis

According to Cognitive Market Research, the dominating category is indoor due to the ongoing demand within residential spaces for both necessity and aesthetic enhancement. The trend towards more people investing in their living environments, spurred by increased time spent at home, supports robust sales. Enhancements in home entertainment and living comfort also drive the need for new indoor furniture. The desire for customized and multifunctional furniture that optimizes space in smaller urban living areas further stimulates growth in this category.

The fastest-growing category in the furniture market is outdoor fueled by increasing interest in outdoor living and entertainment spaces. As homeowners seek to extend their living spaces outdoors, the demand for durable, stylish outdoor furniture rises. The growth of home gardening and increased spending on home exteriors encourage consumers to invest in high-quality outdoor setups. Additionally, improvements in materials that offer weather resistance and sustainability appeal to environmentally conscious consumers, amplifying the segment’s expansion.

• Indoor
• Outdoor

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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