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Home Furniture Market in US by Product and Distribution Channel - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR44284
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The home furniture market share in US is expected to increase by USD 8.22 billion from 2020 to 2025, at a CAGR of 2.53%.

This home furniture market research report of US 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 the home furniture market segmentation in the US by product (living room furniture, bedroom furniture, storage furniture, and others) and distribution channel (offline and online). The home furniture market report of US also offers information on several market vendors, including Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, and Williams-Sonoma Inc. among others.

What will the Home Furniture Market Size in US be During the Forecast Period?

Download the Free Report Sample to Unlock the Home Furniture Market Size in US for the Forecast Period and Other Important Statistics

 

Home Furniture Market in US: Key Drivers, Trends, and Challenges

The improving residential construction market is notably driving the United States home furniture market growth, although factors such as the inherent threat from re-used furniture market 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 home furniture industry in the US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Home Furniture Market Driver in the US

One of the key factors driving growth in the home furniture market in the US is the improving residential construction market. There has been a significant rise in the number of women joining the workforce and living independently. As a result, there is a raising need for service apartments and single-story houses. This, in turn, is boosting the demand for home furniture in the country. The unemployment rates among women have also declined considerably over the last few years. This is making them a potential section of the population who can own or rent apartments/houses. Therefore, they are expected to contribute majorly to the home furniture market in the US. The continuously increasing immigrant population in the US is another factor adding to the rapid rise in the real estate industry, fueling the demand for home furniture. These individuals invest heavily in both real estate and the home furniture market. 

Key Home Furniture Market Trend in the US

The surging demand for eco-friendly furniture is another factor supporting the home furniture market share growth in the US. The idea of green furniture or eco-friendly furniture was always prevalent. However, it is expected to gain momentum in the coming years owing to the rising demand for sustainable products from consumers. Owing to continuous urbanization and industrialization, there has been a considerable increase in environmental implications such as global warming. This, in turn, has created an awareness among consumers regarding the benefits of using eco-friendly or green furniture. The rising demand for eco-friendly furniture has also prompted manufacturers to keep a check on carbon footprints and modify their styles in such a way that they cater to the demands of consumers without causing any damages to the environment.

Key Home Furniture Market Challenge in the US

The inherent threat from re-used furniture market will be a major challenge for the home furniture market in the US. Re-used or refurbished furniture has significantly come up as an option for millennials who are just moving out of their houses and have less financial stability. They tend to buy refurbished furniture items at comparatively lower prices, impacting the revenues of the sellers of newly built furniture. Therefore, this shift in the consumer's mindset has caused the market to slow down in the last few years. In addition, there has been a demographic shift, and the baby boomers have started shifting from their bigger apartments to smaller living spaces, which has led to an increase in the discarding of old conventional furniture. The discarded furniture is resold to new home buyers, thus reducing the demand for contemporary furniture items. 

This home furniture market in US 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 2021-2025.

Parent Market Analysis

Technavio categorizes the home furniture market in US as a part of the global home furnishings 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 home furniture market in US during the forecast period.

Who are the Major Home Furniture Market Vendors in US?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Ashley Furniture Industries Inc.
  • Inter IKEA Holding BV
  • Klaussner Home Furnishings
  • LaZBoy Inc.
  • Pier 1 Imports Inc.
  • Raymour and Flanigan Furniture and Mattresses
  • Restoration Hardware Inc.
  • Roomstogo.com Inc.
  • Steinhoff International Holdings NV
  • Williams-Sonoma Inc.

 

This statistical study of the home furniture market in US encompasses successful business strategies deployed by the key vendors. The home furniture market in US is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Ashley Furniture Industries Inc. - The company offers home furniture, such as accent tables, kids beds, bathroom storage and top-rated desks.

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 home furniture market in US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Home Furniture Market in US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the home furniture market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains 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 furnishings market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Product Segments in the Home Furniture Market in US?

To gain further insights on the market contribution of various segments Request for a FREE sample

The home furniture market share growth in US by the living room furniture segment will be significant during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the home furniture market size in US and actionable market insights on post COVID-19 impact on each segment.

 

Home Furniture Market Scope in US

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 2.53%

Market growth 2021-2025

$ 8.22 billion

Market structure

Fragmented

YoY growth (%)

1.26

Regional analysis

US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, and Williams-Sonoma Inc.

Market dynamics

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

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Home Furniture Market Report in US?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive home furniture market growth in US during the next five years
  • Precise estimation of the home furniture market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the home furniture industry in US
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of home furniture market vendors in US

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Living room furniture - Market size and forecast 2020-2025
  • Bedroom furniture - Market size and forecast 2020-2025
  • Storage furniture - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Offline - Market size and forecast 2020-2025
  • Online - Market size and forecast 2020-2025
  • Market opportunity by Distribution channel

Customer landscape

  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Ashley Furniture Industries Inc.
  • Inter IKEA Holding BV
  • Klaussner Home Furnishings
  • LaZBoy Inc.
  • Pier 1 Imports Inc.
  • Raymour and Flanigan Furniture and Mattresses
  • Restoration Hardware Inc.
  • Roomstogo.com Inc.
  • Steinhoff International Holdings NV
  • Williams-Sonoma Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The home furniture market growth will increase by $8.22 billion during 2020-2025.
The home furniture market is expected to grow at a CAGR of 2.53% during 2020-2025.
Technavio has segmented the home furniture market by product (Living room furniture, Bedroom furniture, Storage furniture, and Others) and geographic (US, Online mode, American Samoa, Americas, APAC (exc. China), and Austria).
Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, Williams-Sonoma Inc. are a few of the key vendors in the home furniture market.
US will register the highest growth rate of 100.00% among the other regions. Therefore, the home furniture market in US is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the home furniture market growth are:
  • Improving residential construction market
The home furniture market vendors should focus on grabbing business opportunities from the living room furniture segment as it accounted for the largest market share in the base year.
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