High end Furniture Market in North America by Distribution channel and Geography - Forecast and Analysis 2022-2026
- Published: Mar 2022
- Pages: 120
- SKU: IRTNTR72795
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The high-end furniture market share in North America is expected to increase by USD 2.69 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.38%.
This high-end furniture market in North America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers high-end furniture market in North America segmentation by distribution channel (offline and online) and geography (US, Canada, and Mexico). The high-end furniture market in North America report also offers information on several market vendors, including Brown Jordan International Inc., Century Furniture LLC, Cococo Home Inc., Gilani Furniture, Grayson Living, Herman Miller Inc., Hermes International SA, Kimball International Inc., Kindel Furniture Company Grand Rapids, and Restoration Hardware Inc. among others.
What will the High-End Furniture Market Size in North America be During the Forecast Period?
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High-End Furniture Market In North America: Key Drivers, Trends, and Challenges
The rising popularity of multi-functional luxury furniture is notably driving the high-end furniture market growth in North America, although factors such as frequent product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the high-end furniture industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key High-end Furniture Market Driver in North America
The rising popularity of multi-functional luxury furniture is one of the key drivers supporting the high-end furniture market growth in North America. For instance, a bedroom can be rapidly transformed into an entertainment and study area using a wall bed. Other high-end multi-functional furniture products include chairs that can fold into couches, a bed that can rotate to transform into a full bookshelf, and desks that transform into dining tables. Among the latest developments in the multi-functional high-end furniture sector, internationally-acclaimed luxury furniture specialist Jaime Alexander International Ltd. innovated the high-end luxury furniture category with the launch of Kojin Grill, a multi-functional high-end furniture product. Thus, this will increase the demand for multi-functional high-end furniture among end-users, which is expected to drive market growth during the forecast period in North America.
Key High-end Furniture Market Trend in North America
Growth in demand for luxury furniture among millennials is one of the key trends contributing to the high-end furniture market growth in North America. The millennial population has been growing worldwide, which is an encouraging sign for vendors operating in the global luxury furniture market. In 2020, millennials in the US accounted for more than 72 million and represented the largest spending demographic ever. The increase in disposable income among the millennial population has led to an increase in the adoption of high-end furniture among them. This trend is more common in the recliner sofa and recliner chair categories of the high-end furniture market. Therefore, a rise in the demand for high-end furniture among millennials is a vital trend, which will positively impact the market in North America during the forecast period.
Key High-end Furniture Market Challenge in North America
Frequent product recalls is one of the factors hindering the high-end furniture market growth in North America. Product recalls hamper the reputation of any sector and result in operational and financial constraints among players operating in the high-end furniture market. There have been quite a significant number of instances of such recalls in the past few years in the high-end furniture market in North America. For example, in 2021, in the US, there was a recall involving a chair that failed to meet the lead paint standards. In another instance, a company, Jimco Lamp & Manufacturing Co., recalled 110,000 accent tables that had charging units. Those charging units posed an electrical shock hazard, although no injuries or incidents were reported at the time of the recall. Such instances are expected to negatively impact the market during the forecast period.
This high-end furniture market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the high-end furniture market in North America as a part of the global home furnishing market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the high-end furniture market in North America during the forecast period.
Who are the Major High-end Furniture Market Vendors in North America?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Brown Jordan International Inc.
- Century Furniture LLC
- Cococo Home Inc.
- Gilani Furniture
- Grayson Living
- Herman Miller Inc.
- Hermes International SA
- Kimball International Inc.
- Kindel Furniture Company Grand Rapids
- Restoration Hardware Inc.
This statistical study of the high-end furniture market in North America encompasses successful business strategies deployed by the key vendors. The high-end furniture market in North America is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, brand, and variety to compete in the market.
Product Insights and News
- Brown Jordan International Inc. - The company offers high-end furniture that personifies an enriched taste for beauty and an unwavering commitment to iconic outdoor design, under the brand name of Brown Jordan.
- Cococo Home Inc. - The company offers high-end furniture that has over sixty finishes with a broad range of colors to choose from, under the brand name of Cococo.
- Gilani Furniture - The company offers high-end furniture that has up-to-date styles, an unmatched ability to customize an order, and the very best quality in personalized, luxury furniture, under the brand name of Gilani.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The high-end furniture market in North America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
High-end Furniture Market in North America Value Chain Analysis
Our report provides extensive information on the value chain analysis for the high-end furniture market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the home furnishing market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for High-end Furniture Market in North America?
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79% of the market’s growth will originate from the US during the forecast period. The US is the key market for high-end furniture market in North America. Market growth in this region will be faster than the growth of the market in Mexico.
The growing real estate industry will facilitate the high-end furniture market growth in the US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The high-end furniture market in the US witnessed slow growth due to the outbreak of COVID-19 in 2020. However, standard practices such as wearing masks and social distancing norms have been implemented in workplaces to prevent the spread of COVID-19. Therefore, vendors are expected to recover from the slowdown during the forecast period.
What are the Revenue-generating Distribution Channel Segments in the High-end Furniture Market In North America?
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The high-end furniture market share growth in North America by the offline segment will be significant during the forecast period. Offline distribution channels include the sales of high-end furniture through various offline channels, such as specialty furniture stores, department stores, and others. They are the most preferred means for the distribution of high-end furniture items by vendors, manufacturers, and distributors operating in the global luxury furniture market, the major factor being the tangential factor associated with the offline distribution of luxury furniture. Offline stores enable consumers to touch and feel high-end furniture as a part of the buying process, thereby enabling consumers to physically experience the product before purchasing them. Such factors will boost the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the high-end furniture market in North America size and actionable market insights on post COVID-19 impact on each segment.
High-End Furniture Market Scope in North America
Growth momentum & CAGR
Accelerate at a CAGR of 4.38%
Market growth 2022-2026
$ 2.69 billion
YoY growth (%)
US, Canada, and Mexico
Performing market contribution
US at 79%
Key consumer countries
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Brown Jordan International Inc., Century Furniture LLC, Cococo Home Inc., Gilani Furniture, Grayson Living, Herman Miller Inc., Hermes International SA, Kimball International Inc., Kindel Furniture Company Grand Rapids, and Restoration Hardware Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this High-End Furniture Market in North America Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive high-end furniture market growth in North America during the next five years
- Precise estimation of the high-end furniture market size in North America and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the high-end furniture industry in North America across the US, Canada, and Mexico
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the high-end furniture market vendors in North America
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1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
2. Market Landscape
2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market characteristics
2.2 Value chain analysis
Exhibit 09: Value chain analysis
2.2.2 Inbound logistics
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.7 Support activities
3. Market Sizing
3.1 Market segment analysis
Exhibit 10: Market segments
3.2 Market size 2021
3.3 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 12: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 13: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 14: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 15: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 16: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 17: Threat of new entrants
4.5 Threat of substitutes
Exhibit 18: Threat of substitutes
4.6 Threat of rivalry
Exhibit 19: Threat of rivalry
4.7 Market condition
Exhibit 20: Market condition - Five forces 2021
5 Market Segmentation by Distribution channel
5.1 Market segments
Exhibit 21: Distribution channel - Market share 2021-2026 (%)
5.2 Comparison by Distribution channel
Exhibit 22: Comparison by Distribution channel
5.3 Offline - Market size and forecast 2021-2026
Exhibit 23: Offline - Market size and forecast 2021-2026 ($ million)
Exhibit 24: Offline - Year-over-year growth 2021-2026 (%)
5.4 Online - Market size and forecast 2021-2026
Exhibit 25: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Online - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Distribution channel
Exhibit 27: Market opportunity by Distribution channel
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 28: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 29: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 30: Geographic comparison
7.3 US - Market size and forecast 2021-2026
Exhibit 31: US - Market size and forecast 2021-2026 ($ million)
Exhibit 32: US - Year-over-year growth 2021-2026 (%)
7.4 Canada - Market size and forecast 2021-2026
Exhibit 33: Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Canada - Year-over-year growth 2021-2026 (%)
7.5 Mexico - Market size and forecast 2021-2026
Exhibit 35: Mexico - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Mexico - Year-over-year growth 2021-2026 (%)
7.6 Market opportunity by geography
Exhibit 37: Market opportunity by geography
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rising popularity of multi-functional luxury furniture
8.1.2 Increasing number of new high-end furniture showroom launches
8.1.3 Rapid urbanization and industrialization across the region
8.2 Market challenges
8.2.1 Frequent product recalls
8.2.2 Unstable prices of raw materials
8.2.3 Stringent regulations related to luxury furniture
Exhibit 38: Impact of drivers and challenges
8.3 Market trends
8.3.1 Growth in demand for luxury furniture among millennials
8.3.2 Technological innovations
8.3.3 Growing demand for high-end furniture products through e-commerce
9. Vendor Landscape
Exhibit 39: Vendor landscape
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
9.2 Landscape disruption
Exhibit 40: ?Landscape disruption?
Exhibit 41: Industry risks
9.3 Competitive scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 42: Vendors covered
10.2 Market positioning of vendors
Exhibit 43: ?Market positioning of vendors?
10.3 Brown Jordan International Inc.
Exhibit 44: Brown Jordan International Inc. - Overview
Exhibit 45: Brown Jordan International Inc. - Business segments
Exhibit 46: Brown Jordan International Inc. - Key offerings
Exhibit 47: Brown Jordan International Inc. - Segment focus
10.4 Century Furniture LLC
Exhibit 48: Century Furniture LLC - Overview
Exhibit 49: Century Furniture LLC - Product and service
Exhibit 50: Century Furniture LLC - Key offerings
10.5 Cococo Home Inc.
Exhibit 51: Cococo Home Inc. - Overview
Exhibit 52: Cococo Home Inc. - Product and service
Exhibit 53: Cococo Home Inc. - Key offerings
10.6 Gilani Furniture
Exhibit 54: Gilani Furniture - Overview
Exhibit 55: Gilani Furniture - Product and service
Exhibit 56: Gilani Furniture - Key offerings
10.7 Grayson Living
Exhibit 57: Grayson Living - Overview
Exhibit 58: Grayson Living - Product and service
Exhibit 59: Grayson Living - Key offerings
10.8 Herman Miller Inc.
Exhibit 60: Herman Miller Inc. - Overview
Exhibit 61: Herman Miller Inc. - Business segments
Exhibit 62: Herman Miller Inc. - Key offerings
Exhibit 63: Herman Miller Inc. - Segment focus
10.9 Hermes International SA
Exhibit 64: Hermes International SA - Overview
Exhibit 65: Hermes International SA - Business segments
Exhibit 66: Hermes International SA - Key offerings
Exhibit 67: Hermes International SA - Segment focus
10.10 Kimball International Inc.
Exhibit 68: Kimball International Inc. - Overview
Exhibit 69: Kimball International Inc. - Business segments
Exhibit 70: Kimball International Inc. - Key offerings
Exhibit 71: Kimball International Inc. - Segment focus
10.11 Kindel Furniture Company Grand Rapids
Exhibit 72: Kindel Furniture Company Grand Rapids - Overview
Exhibit 73: Kindel Furniture Company Grand Rapids - Product and service
Exhibit 74: Kindel Furniture Company Grand Rapids - Key offerings
10.12 Restoration Hardware Inc.
Exhibit 75: Restoration Hardware Inc. - Overview
Exhibit 76: Restoration Hardware Inc. - Business segments
Exhibit 77: Restoration Hardware Inc. - Key offerings
Exhibit 78: Restoration Hardware Inc. - Segment focus
11.1 Scope of the report
11.1.1 ????Market definition
11.1.3 Notes and Caveats
11.2 Currency conversion rates for US$
Exhibit 79: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 80: ?Research Methodology
Exhibit 81: ??Validation techniques employed for market sizing?
Exhibit 82: ??Information sources
11.4 List of abbreviations
Exhibit 83: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Rising popularity of multi-functional luxury furniture
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