Home Office Furniture - BRICS | Statista Market Forecast

In 2024, the revenue generated in the Home Office Furniture market in BRICS countries amounts to US$5.97bn.
It is projected that the market will experience an annual growth rate of 7.19% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this segment, with a total of US$19bn in 2024.
Taking into account the population figures, the per person revenue in 2024 is estimated to be US$1.81.
In Brazil, the demand for ergonomic home office furniture has skyrocketed due to the increasing number of people working remotely.

Definition:

The Home Office Furniture segment focuses on furniture found in the home that provide a comfortable and motivating work space. The purpose of home office furniture is to ensure a good working environment similar to that of a traditional office as working from home has become more popular in recent years. This segment includes objects such as swivel seats and office tables; however, furniture such as dining tables and chairs are not included. Consumer electronics and lamps & lighting are also excluded from this segment.

Structure:

The segment is divided into two subsegments:

The Desk & Chairs subsegment covers home office furniture designed to provide comfort, functionality, and ergonomic support to enhance productivity and improve the overall working experience.
The Bookcases & Filing Cabinets subsegment covers furniture pieces designed for storage and organization of books, files, documents, and other materials. These products are available in various sizes, styles, and materials to suit different needs and preferences.

Additional Information:

The Home Office Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment 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.

Office chairs and swivel seats
Office desks and tables
Filing Cabinets and drawers
Bookcases
Office stools

Consumer electronics
Household appliances
Lamps and lighting
Dining and bar tables

The Home Office Furniture market in brics is experiencing significant growth, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Home Office Furniture market in brics are shifting towards more ergonomic and multifunctional furniture solutions. With an increasing number of people working from home, there is a growing demand for comfortable and efficient workspaces. Customers are looking for furniture that can help improve productivity and create a conducive environment for remote work. Additionally, there is a rising awareness about the importance of maintaining good posture and reducing the risk of musculoskeletal disorders, leading to a preference for ergonomic office chairs and adjustable desks. Trends in the market include the adoption of smart furniture solutions and the integration of technology. As technology becomes an integral part of modern workspaces, customers are seeking furniture that can accommodate their devices and provide convenient charging solutions. Smart desks with built-in wireless charging pads and usb ports are gaining popularity. Furthermore, there is a growing interest in space-saving furniture options, such as foldable desks and wall-mounted shelves, to optimize limited home office spaces.

Local special circumstances: in each brics country also contribute to the development of the Home Office Furniture market. For example, in Brazil, the rising number of startups and small businesses is driving the demand for affordable and functional office furniture. In Russia, the government's focus on promoting remote work and digitalization is fueling the need for home office setups. India, on the other hand, has a large population of freelancers and remote workers, leading to a high demand for customized and personalized furniture solutions. China, with its booming e-commerce industry, is witnessing a surge in online furniture sales, offering convenience and a wide range of options to customers.

Underlying macroeconomic factors: such as urbanization, rising disposable incomes, and changing work patterns, are also influencing the Home Office Furniture market in brics. As more people move to urban areas, the demand for compact and space-efficient furniture increases. Rising incomes enable consumers to invest in quality office furniture that enhances their work experience. Additionally, the shift towards remote work and flexible work arrangements is driving the need for home office setups, further boosting the market. In conclusion, the Home Office Furniture market in brics is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for ergonomic and multifunctional furniture, the adoption of smart solutions, and the customization of furniture to meet individual needs are driving the market forward. As the work landscape continues to evolve, the Home Office Furniture market in brics is expected to witness further expansion and innovation.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.