Living Room Furniture - Americas | Statista Market Forecast

In 2024, the revenue in the Living Room Furniture market in the Americas amounts to US$94.35bn.
The market is projected to experience an annual growth rate of 3.52% (CAGR 2024-2029).
When compared to other regions globally, United States generates the highest revenue in this segment, with US$73bn in 2024.
In terms of per capita figures, the revenue per person in the Americas' Living Room Furniture market is US$92.78 in 2024.
The demand for modern and minimalist living room furniture is steadily increasing in the United States.

Definition:

This Living Room Furniture segment refers to movable objects that are designed to be used in a living room, which is typically a central and multi-functional space in a home. It includes items that are intended to make the room more comfortable and functional, such as seating, tables, and storage unts (e.g., TV stands, console tables, etc.)

Structure:

The Living Room Furniture segment is divided into two subsegments:

The Seats & Sofas subsegment refers to furniture designed for sitting, lounging, or reclining, and typically includes items such as sofas, armchairs, recliners, and ottomans.
The Cabinets, TV Stands, & Side Tables subsegment refers to furniture items that are designed to store or hold various objects such as media equipment, drinks, books, or lamps.

Additional Information:

The Living Room 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.

Sofas and armchairs, dining chairs
Bar tables and chairs, stools, and benches
Coffee, console, and side tables
TV and media furniture

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Living Room Furniture market in Americas is experiencing significant growth and development due to various customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Living Room Furniture market in Americas are driving the growth and development of the market. Customers in this region have a strong preference for stylish and modern furniture designs that enhance the aesthetics of their living rooms. They also value comfort and functionality, seeking furniture pieces that provide both relaxation and practicality. Additionally, customers in Americas prioritize eco-friendly and sustainable furniture options, leading to a rise in demand for furniture made from recycled materials or sourced from sustainable forests.

Trends in the market: are also contributing to the growth and development of the Living Room Furniture market in Americas. One notable trend is the increasing popularity of online shopping for furniture. Customers in this region are increasingly turning to online platforms to browse and purchase living room furniture, attracted by the convenience and wide variety of options available. This trend has led to the emergence of online furniture retailers and the expansion of traditional brick-and-mortar stores into the e-commerce space. Another trend in the market is the growing demand for multifunctional furniture. As living spaces in Americas become smaller and more compact, customers are seeking furniture pieces that can serve multiple purposes, such as sofa beds or storage ottomans. This trend is driven by the need to maximize space efficiency and create versatile living environments.

Local special circumstances: also play a role in the development of the Living Room Furniture market in Americas. For example, the diverse cultural backgrounds and lifestyles in this region influence the design and style preferences of customers. Different regions within Americas may have unique furniture design traditions and preferences, leading to a diverse range of furniture styles available in the market.

Underlying macroeconomic factors: further contribute to the growth and development of the Living Room Furniture market in Americas. Factors such as rising disposable incomes, urbanization, and population growth drive the demand for new homes and subsequently, the demand for living room furniture. Additionally, economic stability and favorable government policies create a conducive environment for investment in the furniture industry, encouraging market players to expand their operations and offerings. Overall, the Living Room Furniture market in Americas is experiencing growth and development due to customer preferences for stylish and functional furniture, trends such as online shopping and multifunctional furniture, local special circumstances influencing design preferences, and underlying macroeconomic factors driving demand.

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.