Furniture - North America

  • North America
  • In North America, the Furniture market recorded a significant revenue of US$293.80bn in 2024.
  • It is projected to experience steady growth with an annual growth rate of 3.77% (CAGR 2024-2029).
  • Among the various market segments, the largest segment is Living Room Furniture, which accounted for a substantial market volume of US$81.26bn in 2024.
  • When compared globally, in the United States emerges as the leading revenue generator in the Furniture market, with a staggering US$264bn in revenue in 2024.
  • This indicates the dominance of the country in this market segment.
  • To put things into perspective, in 2024, the per person revenues in North America amounted to US$575.80.
  • This figure provides an insight into the average spending on furniture per individual in the region.
  • North America's furniture market is experiencing a surge in demand for sustainable and eco-friendly products.

Key regions: Worldwide, United States, China, India, Germany

 
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Analyst Opinion

The Furniture market in North America has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of the industry.

Customer preferences:
in North America have shifted towards more sustainable and eco-friendly furniture options. Consumers are increasingly concerned about the environmental impact of their purchases and are actively seeking out products that are made from recycled or sustainable materials. This shift in preferences has led to an increase in the production and availability of eco-friendly furniture options in the market. Another customer preference that has influenced the Furniture market in North America is the desire for customizable and personalized furniture. Consumers are looking for unique pieces that reflect their individual style and taste. As a result, furniture manufacturers have started offering customizable options, allowing customers to choose the fabric, color, and design of their furniture. This trend has led to an increase in demand for customized furniture and has contributed to the growth of the market. In terms of market trends, online sales have been a major driver of growth in the Furniture market in North America. With the rise of e-commerce, consumers have the convenience of shopping for furniture from the comfort of their own homes. Online retailers have also made it easier for customers to compare prices and read reviews, making the purchasing process more transparent and efficient. As a result, online sales of furniture have been steadily increasing, leading to the overall growth of the market.

Local special circumstances:
in North America, such as the availability of raw materials and skilled labor, have also played a role in the development of the Furniture market. The region has a rich supply of timber and other raw materials that are essential for furniture production. Additionally, North America has a well-established manufacturing industry with skilled workers who are experienced in producing high-quality furniture. These local advantages have attracted both domestic and international furniture manufacturers to invest in the region, further contributing to the growth of the market.

Underlying macroeconomic factors:
have also influenced the Furniture market in North America. The region has experienced stable economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, consumers have been more willing to invest in furniture and other home furnishings. Additionally, low interest rates and favorable financing options have made it easier for consumers to make large purchases, further stimulating demand in the market. Overall, the Furniture market in North America has been developing due to customer preferences for sustainable and customizable options, the trend towards online sales, local special circumstances, and favorable macroeconomic factors. These factors have created a favorable environment for growth in the industry and are expected to continue driving the market forward in the coming years.

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.

Overview

  • Revenue
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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