Market Snapshot:
Home furniture refers to furnishing and home decor in living rooms. Growing nuclear families and increasing usage of creative furniture for decorating living spaces and rising inclination of residential buyers towards designed, multi-purpose and smart pieces of furniture boosting the home furniture market. In addition, surging demand for furniture integrated with technologies such as remote-controlled furniture and mattresses expected to drive the home furniture sale for the forecasted period.The research analyst at AMA estimates Home Furniture market to grow at a compounded annual growth rate of 5.55%
Segment Analysis
AMA Research have segmented the market of Global Home Furniture market by Type, Application and Region. On the basis of Type, Wooden Furniture are dominating the market in the year 2020
On the basis of geography, the market of Home Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
Rising Demand for Premium and luxury Furniture From High Income Group and Increasing Application of Hardwood in Furniture
Market Drivers
Growing Demand of Multi-Functional Furniture, Increasing Demand for Technologically advanced Furniture and Rising Online Retail
Opportunities
Increasing Demand of Green Furniture and Developing Real Estate Industry
Restraints
- Fluctuating Raw Material Prices
In addition to the aforementioned factor, Growing Demand of Multi-Functional Furniture
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The home furniture market is fragmented owing to presence of numerous players. Merchants are gradually focusing on the improvement of assorted styles of furniture, specifically the ready-to-assemble and portable furniture.
The key Vendors profiled in the study are Cisco Bros. Corp. (United States), Bob Mills Furniture (United States), Eco Balanza Modern Artisan Furniture (United States), Vermont Wood Studios LLC (United States), Kimball International Inc. (United States), Godrej & Boyce Manufacturing Company Limited (India), Raymours Furniture Company, Inc. (United States), Crest Furniture Inc. (United States), L. & J. G. Stickley, Inc. (United States), Ashley Furniture Industries, Inc. (United States), Herman Miller, Inc. (United States), Century Furniture LLC (United States), Heritage Home Group LLC (United States), Masco Corporation Designs (United States), HNI Corporation (United States) and IKEA (Sweden). A lot of United States players are profiled in the research study indicating a strong market dependence.