Kitchen & Dining Furniture - North America

North America

In North America, the revenue generated in the Kitchen & Dining Furniture market is estimated to reach US$41.50bn in 2024.
According to projections, the market is anticipated to experience an annual growth rate of 3.79% (CAGR 2024-2029).
Comparing it globally, in the United States leads with the highest revenue of US$38,810m in 2024.
Taking into account the total population figures, the per person revenues in 2024 amount to US$81.32.
The demand for high-quality, sustainable kitchen and dining furniture in North America has been steadily increasing, driven by a growing emphasis on eco-friendly and locally sourced products.

Key regions: Canada, United Kingdom, Brazil, Germany, India

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Analyst Opinion

The Kitchen & Dining Furniture market in North America is experiencing steady growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Kitchen & Dining Furniture market in North America have shifted towards more modern and minimalist designs. Customers are looking for furniture that is not only functional but also aesthetically pleasing and fits well with their overall home decor. This preference for modern designs is driven by the desire for a clean and sleek look, as well as the need to maximize space in smaller homes and apartments. Additionally, customers are increasingly seeking furniture that is durable and made from sustainable materials, reflecting a growing awareness of environmental issues. Trends in the Kitchen & Dining Furniture market in North America are being influenced by technological advancements and changing lifestyles. Smart kitchen appliances and furniture are gaining popularity, as they offer convenience and efficiency in everyday tasks. For example, smart refrigerators with built-in touchscreens and Wi-Fi connectivity allow users to control temperature settings and access recipes online. Another trend is the rise of multi-functional furniture, such as dining tables that can be extended or transformed into desks or storage units. This trend caters to the needs of urban dwellers who often have limited space and need furniture that can serve multiple purposes.

Local special circumstances: in the Kitchen & Dining Furniture market in North America include the influence of cultural diversity and regional preferences. North America is a melting pot of different cultures, and this diversity is reflected in the demand for a wide range of furniture styles. For example, customers in urban areas with a large immigrant population may prefer furniture that reflects their cultural heritage. Additionally, regional preferences can also impact the market, with customers in coastal areas favoring a more relaxed and beach-inspired aesthetic, while those in urban centers may lean towards a sleek and modern look.

Underlying macroeconomic factors: are also contributing to the growth of the Kitchen & Dining Furniture market in North America. The strong economy and low unemployment rate are boosting consumer confidence and disposable income, leading to increased spending on home furnishings. Additionally, the growing trend of home renovation and remodeling is driving demand for new furniture. As homeowners invest in upgrading their kitchens and dining areas, they are more likely to purchase new furniture to complete the look. In conclusion, the Kitchen & Dining Furniture market in North America is developing and growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and minimalist designs, the adoption of smart technology, and the demand for multi-functional furniture are driving the market forward. Cultural diversity and regional preferences also play a role in shaping customer demand. Lastly, a strong economy and the trend of home renovation are contributing to increased spending on kitchen and dining furniture.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.