Furniture Market Analysis Report By Material, By End Use, By Region And Segment Forecasts From 2018 To 2025

Report ID: MN17614527  |  Published: September 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Consumer Goods

Industry Insights

The global furniture market size was USD 480.7 billion in 2017, growing at 5.1% CAGR over the forecast duration, 2018 to 2025. Increasing disposable income coupled with growth in the hospitality sector has led to a rise in demand for premium furniture. In addition, growing constructions of commercial and residential houses is supplementing the growth of the market. Emerging countries such as India, China, Brazil, and Mexico have witnessed significant growth in the development of residential houses in the recent past. 

Countries in the Middle East, especially Saudi Arabia are investing a significant amount in the development of commercial and residential projects with an aim to boost their economic growth. In addition, growth in healthcare, education, and tourism industries has led to a rise in infrastructural development, consequently bolstering the market growth.

China furniture market

Apart from facilitating day-to-day functions like eating and sleeping, furniture is an essential part of home decoration. In addition, with the increasing penetration of the online sales channel, buying furniture has become easier than ever. Some of the leading online platforms for online furniture buying are FabFurnish, Urban Ladder, and Pepperfry among others.

Infrastructural development across communities such as the construction of hospitals, government institutions, and religious places are also propelling the demand for the furniture market across the globe. In addition, government regulation regarding furniture manufacturing is likely to influence the market positively. For example, the British Contract Furnishing Association mandates that the hospital furniture made of wood should be lacquer sealed. Lacquer not only provides necessary durability but also helps in the prevention of bacteria. 

Material Insights

By material, the market is categorized into wood, glass, metal, plastic, and others. The other category includes rubber, hardware components, and leather. Among different materials, the wood segment held the largest share in the market in 2017. Further, it is projected that this segment would expand at the highest growth over the next seven years. Wood is readily available and can be used in all kinds of furniture. Wooden panels are mainly categorized into fiberboard, particleboard, and plywood.

Theme-based decoration of homes has become a new trend in the past few years. This trend is gaining traction in both middle and upper-class populations across the globe. Comfort and style have become paramount features among customers while buying furniture. Owing to this, the market is witnessing the growing adoption of glass material. Glass is popular for its classy looks and aesthetically appealing features.

End-use Insights

Based on end-use, the market is categorized into commercial and residential. Further, the residential segment is bifurcated into outdoor, living room & bedroom, kitchen & dining, and others. Owing to the growing real-estate construction activities, the residential segment is projected to witness considerable growth over the forecast duration. The rise in residential construction is further supplemented by the increasing support from governments across several countries. For example, the government of India is aiming to build houses for all by 2022. Such initiatives are likely to spur market growth.

Global furniture market

On the other hand, the commercial division is anticipated to register more than 4.0% CAGR from 2018 to 2025. Increasing construction of hotels and offices has led to the growth of this segment. Emerging countries, in particular, are witnessing significant growth in the development of commercial buildings. The hospitality sector is projected to be valued at over USD 120.0 billion by 2025. 

Regional Insights

In 2017, Asia Pacific held more than 40% share in the furniture market. Factors such as increasing construction of residential houses, rise in disposable income and population growth are attributing to the growth of the region. The region has witnessed significant demand for living room furniture seconded by bedroom & kitchen furniture. Moreover, APAC is witnessing significant growth in the real estate industry. The residential segment in the region is predicted to account for more than 90.0 billion by 2025. 

Besides, Europe is anticipated to register over 5.0% CAGR owing to the growing hospitality sector fueled by the increasing tourism industry. Further, countries such as France, Germany, and Italy are witnessing significant growth. In addition, the presence of key players in the region is further bolstering regional growth. 

Impact of COVID-19

The market has witnessed a sharp decline due to the outbreak of COVID-19. The pandemic has affected various industries including construction, hospitality, and tourism. These sectors are the major consumer of the market. With the restriction on air travel, the tourism industry witnessed a significant downfall, which in turn, negatively affected the market growth. In addition, the pandemic has also disrupted the supply chain of raw materials required for furniture manufacturing. However, online sales channels are estimated to witness significant growth owing to the rising preferences among consumers for online shopping of furniture products.

Furniture Market Share Insights

The presence of major players such as Kimball International, KOKUYO, HNI Corporation, and Herman Miller makes the market competition in the major. Owing to the increasing demand for furniture for sports and exercise, manufacturers are focusing on the introduction of new products in the market. For example, Inter IKEA Systems B.V. in 2018 collaborated with Adidas Group to offer sports furniture.

Further, rising awareness among consumers regarding eco-friendly furniture is encouraging companies to introduce cost-effective furniture. For example, companies such as Vermont Wood Studios, Eco Balanza, Cisco Home, and Anton Doll Holzmanufactur offer eco-friendly furniture made without the use of any chemicals and toxic carcinogens. 

Report Scope

Report Attribute


The market size value in 2020

USD 558.9 billion

The revenue forecast in 2025

USD 718.3 billion

Growth Rate

CAGR of 5.1% from 2018 to 2025

The base year for estimation


Historical data

2014 - 2016

Forecast period

2018 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2018 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Singapore; Brazil; Mexico

Key companies profiled

HNI Corporation; Kimball International, Inc.; Herman Miller, Inc.; and KOKUYO.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global furniture market report based on material, end-use, and region:

• Material Outlook (Revenue, USD Billion, 2014 - 2025)
    • Metal
    • Wood
    • Plastic
    • Glass
    • Others

• End-Use Outlook (Revenue, USD Billion, 2014 - 2025)
    • Residential
        • Kitchen & Dining
        • Living Room
        • Bedroom
        • Outdoor
        • Others
    • Commercial
        • Office
        • Hotels
        • Others

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
    • the Asia Pacific
        • China
        • India
        • Japan
        • Singapore
        • Malaysia
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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