Furniture Market - United States

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 3.15% (2024-2032)

The U.S. furniture market size is experiencing significant growth, driven by increasing consumer demand for stylish and comfortable home furnishings. This expansion is fueled by advancements in design and manufacturing and the rising focus on personalization and sustainable living. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 3.15% from 2024 to 2032.

United States Furniture Industry Trends and Drivers:

  • Market Growth and Key Drivers:
    • Urbanization and Shifting Demographics:
      • The market is witnessing steady growth due to expanding urban populations, particularly in cities like New York, Los Angeles, and Chicago.
      • The demand for residential, office, and commercial furniture is increasing with the rise in urban living.
    • Growing Preference for Urban Living Spaces:
      • Consumers are seeking modern and versatile furniture designs that cater to smaller, more compact environments.
    • Homeownership and Consumer Spending:
      • The rise in homeownership and increased consumer spending on home improvement projects are further propelling industry expansion.
    • Mixed-Use Developments:
      • The growth of mixed-use developments, combining residential, commercial, and recreational spaces, is a significant factor driving demand for multifunctional and flexible furniture solutions.
  • Key Market Trends:
    • Sustainability:
      • Consumers are increasingly seeking eco-friendly furniture made from sustainable materials such as recycled wood, bamboo, and organic textiles.
      • Growing environmental awareness and regulatory requirements are encouraging manufacturers to adopt sustainable production practices.
    • Senior-Friendly Furniture:
      • The increasing geriatric population is driving demand for furniture that prioritizes accessibility and comfort.
      • Manufacturers are developing products specifically for seniors, such as adjustable seating, ergonomic chairs, and healthcare-related furniture for assisted living facilities.
    • Technological Innovation:
      • Technological advancements, including smart home integration and IoT-enabled products, are transforming the furniture market.
      • Smart sofas, adjustable beds, and multifunctional office desks are gaining popularity, catering to the demand for convenience and enhanced functionality.
  • Impact of COVID-19:
    • The pandemic significantly influenced the furniture market, with remote work driving demand for home office furniture.
    • Consumers have been investing in ergonomic chairs, desks, and storage solutions to create comfortable home office setups.
    • The heightened focus on home comfort has also substantially increased purchases of living room and bedroom furniture.
  • Market Outlook:
    • Favorable Economic Conditions:
      • Low interest rates and favorable economic conditions have encouraged domestic and foreign investments in the furniture industry, creating a positive industry outlook overall.
    • The combination of these factors is positioning the United States furniture market for continued growth and expansion in the coming years.

Download sample copy of the Report: https://www.imarcgroup.com/united-states-furniture-market/requestsample

United States Furniture Industry Segmentation:

The report has segmented the market into the following categories:

Material Insights:

  • Metal
  • Wood
  • Plastic
  • Glass
  • Others

Distribution Channel Insights:

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores
  • Others

End Use Insights:

  • Residential 
  • Commercial

Regional Insights:

  • Northeast
  • Midwest
  • South
  • West

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Request for customization: https://www.imarcgroup.com/request?type=report&id=10929&flag=F

Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • COVID-19 Impact on the Market
  • Porter's Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.      

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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