TheBusinessResearchCompany’s Household Furniture Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The household furniture market consists of sales of household furniture products such as dining tables, sofas, beds, chairs, bassinets, bookcases, chairs, TV stands, juvenile furniture and other household furniture products made from materials including wood, metal, plastics, reed, rattan, wicker and fiberglass.
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The global household furniture market reached a value of nearly $235 billion in 2018, having grown at a compound annual growth rate (CAGR) of more than 6% since 2014.
Growth in the household furniture market in the historic period resulted from the growth in emerging markets, rise in internet penetration, and growth in residential construction. Factor that negatively affected growth in the historic period was lumber supply crisis.
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The present study exhibits the trends and market dynamics of the Household Furniture market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
Opportunities – The top opportunities in the global household furniture market will arise in the wood furniture segment which will gain $13.5 billion of global annual sales by 2023. The household furniture market size will gain the most in China. Household furniture market-trend-based strategies include manufacturing of RTA furniture, usage of virtual prototyping tools, and online retailing options. Player-adopted strategies in the household furniture industry include expansion through mergers and acquisitions and development of new product range.
Some of the major players involved in the Household Furniture market are Inter IKEA Holding B.V., Ashley Furniture Industries Inc., La-Z-Boy Incorporated, Steelcase Inc., Man Wah Holdings Limited.
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