Furniture Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Furniture Market in 2025 is estimated at USD 762.46 billion. The global Market size surpassed USD 731.45 billion in 2024 and is projected to witness a CAGR of around 5.3%, crossing USD 1.43 trillion revenue by 2037. Asia Pacific is poised to generate USD 572 billion by 2037, attributed to advancements in construction and demand for smart furniture.
The growing trend of renovation and home decor is driving growth in the market. As per the International Energy Report, with the utilization of advanced technologies, renovation of 20% of the existing building stock to zero carbon level is a crucial task set to be achieved by 2030.
Furniture Sector: Growth Drivers and Challenges
Growth Drivers
- Rising demand for modern sustainable furniture - Due to growing awareness about sustainability, consumer choice is rapidly changing. Also, the sustainable processes opted for the manufacturing of advanced types of furniture adhere to the environmental norms and support the net zero carbon target.
- Expansion of the construction sector - The day-by-day increasing urban population demands new construction. This demand simultaneously connects with the surge of premium furniture that may offer space and a luxurious appearance. Moreover, the construction sector of India is poised to reach USD 1400 Billion by 2025 and this growth is driven by the development of smart cities.
- Increasing disposable income - People are becoming financially more stable nowadays with the rise in disposable income and can afford a better lifestyle. This change eventually adds growth to the furniture market since advanced multifunctional furniture that caters to distinct needs is highly demanded. As per the U.S. Energy Information Administration’s data, the disposable income of the United States is poised to reach nearly USD 0.07 million by 2050.
Challenges
- Disruptions in the supply chain - No effective coordination can affect the whole supply chain management. The production process involves various vendors and suppliers and taking a ground detail from them about the raw material, delivery, etc. can be a hassle.
- Shortage of labor - Many furniture manufacturing companies face challenges with the delivery and production tasks in the labor shortage situation. Another factor adding to this situation is the aging skilled workforce.
Furniture Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.3% |
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Base Year Market Size (2024) |
USD 731.45 billion |
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Forecast Year Market Size (2037) |
USD 1.43 trillion |
|
Regional Scope |
|
Furniture Segmentation
Product (Beds, Tables & Desks, Sofa, Couch, Chairs & Stools, Cabinets & Shelves)
Beds segment is poised to dominate around 35% furniture market share by the end of 2037. The segment is growing owing to the changing consumer preferences, aging population, and lifestyle variations. There are many types of beds available in the market e.g. single, double, queen size, king size, etc. offering comfort and covering desired space. Additionally, the older population finds bed a comfortable option for giving full rest to the body. According to a report, the bed sector has generated a revenue of around USD 8 billion globally in 2024.
Material (Metal, Wood, Plastic, Glass)
Through 2037, wood segment is expected to grow substantially. The segment growth is attributed to the investments in residential construction and the presence of large-scale manufacturers. Also, wood furniture is highly durable and reports say that the estimated revenue generated by wood in 2024 is USD 174 billion.
Application (Residential, Commercial)
The residential segment is anticipated to hold a significant share in the coming years. Rising disposable income, the flourishing e-commerce sector, the increasing real-estate sector, and lifestyle changes are the primary growth drivers for the segment. Nowadays, consumers are willing to spend their money on home furniture that has low cost and is ready to assemble. According to IBEF, the real estate sector will reach a value of USD 9.30 Billion by 2040 simultaneously increasing the demand for residential furniture.
Our in-depth analysis of the market includes the following segments:
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Product |
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Material |
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Application |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Furniture Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is expected to hold largest revenue share of 40% by 2037. The region is growing due to the advancements in the construction sector and the demand for smart furniture. Economic growth and the increasing disposable income are responsible for the furniture market growth in China. According to a report, China was the leading furniture exporter with an export value of around USD 80 billion in 2022. The growth driving for Korea is the increase in purchasing capacity and demand for office furniture. In 2024, the market of South Korea is reportedly around USD 10 Billion. The market in India is expected to reach USD 32.7 Billion by 2026 owing to the increasing demand from people living in urban areas and the presence of skilled labor.
North American Market Analysis
North American region in furniture market is set to exhibit lucrative CAGR till 2037. The region is flourishing owing to the demand for sustainable furniture, expansion for commercial and residential sectors, and rising demand for home furnishings. As per a recent analysis, North America is estimated to generate a revenue of nearly USD 292 Billion in 2024. High demand for Bedroom furniture and the expanding affordability are driving growth in the market in the United States. The furniture market in the United States is expected to grow at a CAGR of 4% from (2024-29). The market in Canada is being driven by high-rise demand from the commercial sector and the production of customized wooden furniture. In 2021, the market size of institutions and offices in Canada generated a revenue of USD 3.323 Billion.
Companies Dominating the Furniture Landscape
- IKEA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Williams Sonoma
- Raymour & Flanigan
- American Signature
- Steelcase Inc.
- ZuoYou
- Herman Miller Inc.
- HNI Corporation
- Kimball Internaional, Inc.
- Haworth Inc.
The furniture market is dominated by key market players who are gaining traction in the market by understanding the changing consumer preferences over time.
Recent Developments
- IKEA has launched a new cookware range that has ceramic non-stick coated pans and pots that do not constitute PFAS (per – and poly-fluoroalkyl substances) and aims to eliminate PTFE (Polytetrafluoroethylene) from its cookware and bakeware range by 2026.
- Steelcase Inc. announced the opening of its new Worklife Center in Dallas in April 2024. This center will consist of a wide range of furnishings and will also become a one-of-a-kind showroom that values basic human needs by providing them with privacy and wellness space.
- Report ID: 6170
- Published Date: May 10, 2025
- Report Format: PDF, PPT
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