Furniture - United States

  • United States
  • The revenue generated in the Furniture market in the United States is expected to amount to €240.60bn in 2024.
  • According to market projections, the industry is set to experience an annual growth rate of 3.88% from 2024 to 2029 (CAGR 2024-2029).
  • The largest segment within the market is Living Room Furniture, which is projected to have a market volume of €66.81bn in 2024.
  • In comparison to other countries worldwide, United States generates the highest revenue in the Furniture market, with €240.60bn in 2024.
  • When considering the total population, this translates to per person revenues of €703.80 in 2024.
  • The United States furniture market is experiencing a surge in demand for sustainable and eco-friendly materials, reflecting a growing consumer preference for environmentally conscious products.

Key regions: Worldwide, United States, China, India, Germany

 
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Analyst Opinion

The Furniture market in the United States has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and minimalist designs, with a focus on functionality and sustainability. Additionally, there has been an increasing demand for online furniture shopping, which has been driven by convenience and the ability to compare prices and styles from different retailers.

Customer preferences:
In the United States, customers are increasingly seeking furniture that is not only aesthetically pleasing, but also functional and sustainable. This trend can be attributed to the growing awareness of the impact of consumer choices on the environment. Customers are now more likely to choose furniture made from eco-friendly materials, such as reclaimed wood or recycled plastic. Additionally, there is a preference for furniture that can serve multiple purposes, such as storage beds or modular sofas.

Trends in the market:
One of the key trends in the United States furniture market is the rise of online shopping. With the advent of e-commerce platforms and the increasing convenience of online shopping, more and more customers are choosing to purchase furniture online. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased reliance on online shopping due to social distancing measures. Online furniture retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and convenient delivery options. Another trend in the United States furniture market is the increasing popularity of customization. Customers now have the option to personalize their furniture by choosing the color, fabric, and design that best suits their individual style and preferences. This trend is driven by the desire for unique and personalized furniture pieces that reflect the customer's personality and taste.

Local special circumstances:
The United States has a highly competitive furniture market, with a large number of domestic and international players. This has resulted in a wide range of choices for customers, with furniture available at various price points and styles. Additionally, the United States has a diverse population with different cultural backgrounds and tastes, which has further contributed to the demand for a variety of furniture styles and designs.

Underlying macroeconomic factors:
The growth of the furniture market in the United States can be attributed to several underlying macroeconomic factors. Firstly, the strong economy and low unemployment rate have resulted in increased consumer spending power, allowing customers to invest in furniture and home decor. Secondly, the booming real estate market has led to an increase in home purchases and renovations, driving the demand for new furniture. Lastly, the rise of urbanization and smaller living spaces has created a need for compact and multifunctional furniture solutions. In conclusion, the Furniture market in United States has been experiencing significant growth due to shifting customer preferences towards more modern and sustainable designs, the rise of online shopping, and the increasing demand for customization. The competitive nature of the market, the diverse population, and the underlying macroeconomic factors have all contributed to the development of the furniture market in the United States.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Vue d’ensemble

  • Revenue
  • Sales Channels
  • Key Players
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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