Furniture - Americas

Americas

Highlights

In 2024, the Furniture market in Americas is projected to generate a revenue of US$330.50bn.
This market is expected to grow annually by 3.75% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which is estimated to have a market volume of US$94.35bn in 2024.
Among all countries globally, United States leads in terms of revenue generation, with an expected revenue of US$264bn in 2024.
When considering the population figures, the per person revenue in 2024 amounts to US$325.00.
The demand for eco-friendly and sustainable furniture is on the rise in the United States, as consumers prioritize environmentally conscious choices.

Key regions:

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Furniture market in Americas is experiencing significant growth and development. Customer preferences for furniture are evolving, leading to new trends in the market. Additionally, there are local special circumstances and underlying macroeconomic factors that are contributing to the growth of the market.

Customer preferences: in the Furniture market in Americas are shifting towards more modern and minimalist designs. Consumers are increasingly looking for furniture that is functional, stylish, and space-saving. This trend is driven by urbanization and the need for furniture that fits smaller living spaces. As a result, furniture manufacturers are focusing on creating sleek and compact designs that cater to these customer preferences. Another trend in the market is the increasing demand for sustainable and eco-friendly furniture. Consumers are becoming more conscious about the environmental impact of their purchases and are seeking furniture made from recycled materials or sustainably sourced wood. This trend is driven by growing awareness of climate change and the desire to make more environmentally friendly choices.

Local special circumstances: in the Furniture market in Americas also contribute to its development. In North America, for example, the growing trend of remote work and flexible working arrangements has led to an increased demand for home office furniture. As more people work from home, they are investing in comfortable and functional furniture to create productive workspaces. In Latin America, the rising middle class is driving the growth of the furniture market. As incomes increase, consumers have more disposable income to spend on furniture and home decor. This has led to a higher demand for high-quality, stylish furniture in the region.

Underlying macroeconomic factors: also play a role in the development of the Furniture market in Americas. Economic stability and growth in the region have contributed to increased consumer spending on furniture. As economies continue to grow, consumers have more purchasing power and are willing to invest in furniture for their homes. In conclusion, the Furniture market in Americas is experiencing growth and development due to evolving customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards modern and minimalist designs, the demand for sustainable furniture, the rise of remote work, and the growing middle class are all contributing to the expansion of the market. As the region continues to experience economic stability and growth, the Furniture market in Americas is expected to thrive in the coming years.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.