Global Home Furnishings Market Overview:
Home Furnishing refers to anything that is used to furnish a home, including both furniture and things used to decorate the home and make it more hospitable. 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 furnishing market. In addition, surging demand for furniture integrated with technologies such as remote-controlled furniture and mattresses expected to drive the home furnishing sale for the forecasted period. Some of the key players 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) and Ashley Furniture Industries, Inc. (United States).
On the basis of geography, the market of Home Furnishings 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). If we see Market by Distribution Channel, the sub-segment i.e. E-Commerce Sales will boost the Home Furnishings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Metal will boost the Home Furnishings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand of Multi-Functional Furnishing
- Increasing Demand of Technologically advanced Furniture
- Rising Online Retail
- Rising Demand for Premium and luxury Furnishing From High Income Group
- Increasing Application of Hardwood in Furniture
- Fluctuating Raw Material Prices
- Increasing Demand of Green Furniture
- Developing Real Estate Industry
- Local furniture manufacturers
Major Market Developments:
On 9 Jan 2019, BOB mills Furniture and TD bank introduce private label credit card platform, which offer customized and flexible financing to consumers through their website and across store’s footprint
The home furnishing market is fragmented owing to the presence of numerous players. Merchants are gradually focusing on the improvement of assorted styles of furniture, specifically the ready-to-assemble and portable furniture.
Furniture Manufacturer/ Distributors, Online Vendors, Retail Stores, Government Agencies, Research Institute, Market Research Firms and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Home Furnishings market on the basis of product [Home Furniture, Home Textile, Wall Decor and Others] , application [E-Commerce Sales and In-store Sales], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Home Furnishings market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Home Furnishings industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Herman Miller, Inc. (United States), Century Furniture LLC (United States), Heritage Home Group LLC (United States) and Masco Corporation Designs (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Home Furnishings market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.