GVR Report cover Furniture Market Size, Share & Trends Report

Furniture Market Size, Share & Trends Analysis Report By Material (Metal, Wood, Plastic, Glass), By End Use (Residential, Commercial), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2018 - 2025

  • Published Date: Dec 2018
  • Report ID: GVR-2-68038-647-9
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016

Report Overview

The global furniture market size was valued at USD 480.7 billion in 2017 and is expected to grow at a CAGR of 5.1% from 2018 to 2025. The market is driven by various factors such as rising disposable incomes, growth of real estate and hospitality industries, and demand for luxury and premium furniture from certain consumer sections. Additionally, increasing government investments in infrastructural development is contributing towards demand for the residential and commercial sector can propel product demand in the near future.

China furniture market

For instance, Governments in the Middle East, especially Saudi Arabia’s government focus on the development of real estate through various residential and commercial projects that will ultimately help to foster their economy. Furthermore, high investment in tourism, healthcare, and education sectors has spurred proliferation of the construction industry in Saudi Arabia, which is subsequently expected to drive product demand from the country.

Furniture not only supports and enables basic everyday functions such as sleeping and eating but has also been considered as an essential element for home décor. Furthermore, purchasing furniture has become easier due to the availability of online platforms. Pepperfry, FabFurnish, and Urban Ladder are some of the popular online platforms for buying furniture in India.

Demand for versatile and multi-functional products that offer portability and can easily be accommodated in small spaces is also driving the market. Rising number of nuclear families is increasing resulting in demand for portable and space-saving products. This factor is anticipated to drive the demand the market growth in the forthcoming years.

Residential and infrastructural development, for instance, the establishment of churches or community centers, hospitals, and government institutes also impels product demand. Furthermore, government regulations with regards to furniture, especially the products used in hospitals, require manufacturers to specially design and manufacture furniture that complies with the government regulations. For instance, the British Contract Furnishing Association specifies that the wooden furniture in hospitals should be sealed with high quality clear lacquer. The application of clear lacquer not only ensures durability but also includes antimicrobial agents that prevents the growth of micro-organisms.

Additionally, with the growing size and number of hospitals worldwide, their requirements have also changed. For example, the new Queen Elizabeth Hospital in Birmingham, England includes four bedrooms with en-suite facilities and individual rooms for visitors or relatives accompanying the patients. Such factors are ultimately anticipated to contribute to market growth.

Material Insights

The material segment is further segmented into metal, wood, plastic, glass, and others. The other segment includes leather, rubber, and hardware components. The wood segment held the largest market share in 2017 and is expected to expand at the highest CAGR over the forecast period. This growth is expected to accelerate as wood is one of the raw materials naturally available in abundance and can be used in production of almost all types of furniture products. Wooden furniture is primarily produced by processing raw timber. The three main categories of wooden panels are plywood, fiberboard, and particleboard.

Nowadays, theme-based home decor and conducting regular renovation of homes is an on-going trend followed by consumers belonging to middle and upper-middle-class populations of the urban economy. These classes of urban population tend to look beyond the basic functionality of furniture and thus, may look for additional attributes such as style and comfort. Glass is one of the materials expected to witness significant growth over the forecast period owing to its rising adoption in luxury furniture which adds elegance and sophistication to the decor.

End Use Insights

The end-use segment is categorized into residential and commercial. Residential segment is further categorized into kitchen and dining, living room and bedroom, outdoor, and others. The others segment includes furniture used in bathroom and lighting such as lamps. The residential segment is anticipated to proliferate over the forecast period owing to growing demand for furniture in living room and bedroom coupled with rise in real estate construction projects initiated by governments especially in urban areas. For instance, the Ministry of Housing and Urban Affairs in India is responsible for initiating and approving infrastructure development in urban towns and other metropolitan cities of India.

Global furniture market

The commercial segment is expected to expand at the second-highest CAGR exceeding 4.0% over the forecast period. High demand from offices and hotels is projected to bode well for the expansion. Rising demand for office space and expanding the hospitality sector can further fuel the demand. For instance, by 2025, the global hospitality industry is expected to exceed 120.0 billion.

Regional Insights

The Asia Pacific furniture market accounted for over 40.0% of the overall revenue share in 2017. This growth can be accredited to rising disposable income of the upper and middle class population. Additionally, increasing demand for living room furniture followed by bedroom and kitchen and dining furniture is anticipated to drive the market. This growth is driven by booming real estate industry coupled with government-initiated housing projects. For instance, residential segment in Asia Pacific is anticipated to attain a market size exceeding USD 90.0 billion by 2025. Moreover, rapid urbanization coupled with growth of IT industry is expected to positively impact demand.

Europe is projected to expand at a CAGR exceeding 5.0% over the forecast period ascribable to the rising tourism industry driving hospitality sector, which is eventually creating demand for luxury furniture. Europe is one of the major regions wherein the furniture export ratio is higher than imports. Italy, Germany, and France are the major countries in the industry owing to concentrations of major key players.

Key Companies & Market Share Insights

The competitive rivalry in market is high owing to the presence of major global players such as HNI Corporation; Kimball International, Inc.; Herman Miller, Inc.; and KOKUYO. Introduction of products with additional features suitable for exercise and sports is gaining consumer attention.

In June 2018, Inter IKEA Systems B.V. announced its collaboration with Adidas Group to offer products that integrate sports -  a core competency of Adidas Group -  with home décor in living spaces, which is the primary competency of Inter IKEA Systems B.V. Through this collaboration, both companies expect to combine their competencies and offer an easier way to introduce exercise to their home by analyzing and researching individualistic patterns of the way people incorporate wellness in their homes. They plan to customize their offerings to meet unique consumer lifestyle patterns and requirements.

Furthermore, increasing awareness and importance of environment protection measures among consumers is encouraging various companies to introduce low-cost environment-friendly products while reducing or possibly avoiding the use of toxic chemicals in the manufacturing or design process. For instance, Cisco Home, Eco Balanza, Anton Doll Holzmanufactur, and Vermont Wood Studios, among others are few companies that offer multi-purpose and eco-friendly products manufactured without any toxic carcinogens and chemicals. To put this in perspective, Cisco Home offers eco-friendly products through categories such as seating, bedroom, lighting, and other essentials. All products offered by this company are manufactured using non-toxic chemicals and Forest Stewardship Council (FSC)-certified wood.

Furniture Market Report Scope

Report Attribute


Market size value in 2020

USD 558.9 billion

Revenue forecast in 2025

USD 718.3 billion

Growth Rate

CAGR of 5.1%from 2018 to 2025

Base year for estimation


Historical data

2014 - 2016

Forecast period

2018 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2018 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Singapore;Brazil; Mexico

Key companies profiled

HNI Corporation; Kimball International, Inc.; Herman Miller, Inc.; and KOKUYO.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Grand View Research has segmented the global furniture market report based on material, end use, and region:

  • Material Outlook (Revenue, USD Billion, 2014 - 2025)

    • Metal

    • Wood

    • Plastic

    • Glass

    • Others

  • End-Use Outlook (Revenue, USD Billion, 2014 - 2025)

    • Residential

      • Kitchen & Dining

      • Living Room

      • Bedroom

      • Outdoor

      • Others

    • Commercial

      • Office

      • Hotels

      • Others

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Singapore

      • Malaysia

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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