North America Furniture Market Research Report, 2028

North America Furniture Market Research Report, 2028

Actual Market Research 31-08-2023 100 Pages Figures : 12 Tables : 27 Region : North America Category : Consumer Goods & Services Household Goods

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1. Vitra

2. Kimball International

3. Haworth Inc.

4. HNI Corporation

5. Okamura Corporation


In North America the furniture culture has been shaped by various historical periods and cultural influences. Early European settlers brought their furniture traditions with them, leading to the development of styles like Colonial, Federal, and Victorian. These styles often incorporated elements from different European regions. Colonial furniture, characterized by its simple and functional design, emerged during the 17th and 18th centuries. It often featured wood like oak, pine, and maple. Early American styles focused on practicality and were influenced by the availability of local materials. In the late 19th and early 20th centuries, the Arts and Crafts movement gained prominence in North America. This movement emphasized craftsmanship, natural materials, and simple designs. Furniture from this era often featured handcrafted details and a connection to nature. The mid-20th century saw the rise of the Mid-Century Modern movement, characterized by sleek lines, organic shapes, and a focus on function. Designers like Charles and Ray Eames, Eero Saarinen, and George Nelson played a significant role in shaping this style. In more rural areas, rustic and country styles of furniture have been popular. These styles often incorporate natural materials like wood and emphasize a cozy and casual atmosphere. Today, North America's furniture culture is marked by a blend of contemporary, eclectic, and even minimalist design. People often mix and match styles, incorporating vintage pieces alongside modern ones to create unique and personalized spaces. With the advent of technology, customization has become more accessible. Online platforms allow consumers to design their own furniture pieces, choosing materials, colors, and styles that suit their preferences. According to the research report "North America Furniture Market Research Report, 2028," published by Actual market Research, the Furniture market was valued at USD 167.10 Billion in 2022. The market's health is closely linked to homeownership rates. As more individuals become homeowners, there's an increased demand for furniture to furnish and decorate their living spaces. Economic conditions, mortgage rates, and housing market trends all play a pivotal role in influencing these rates and, consequently, furniture sales. Throughout the year, furniture sales exhibit seasonal trends. Spring and summer witness a surge in purchases due to home renovations and relocations, while the holiday season prompts an uptick in sales as people prepare their homes for gatherings and celebrations. Design trends significantly influence consumer preferences and purchases. Open-concept living spaces have led to a demand for multifunctional furniture that optimizes limited space, while minimalist designs appeal to those seeking streamlined aesthetics. The contrast between "fast furniture, affordable, trend-driven items, and investment-worthy, high-quality pieces highlights the diversity of consumer preferences. Collaborations with interior design influencers on social media platforms have become a powerful marketing strategy for furniture brands, leveraging their reach and credibility to guide consumer choices. Based on countries, the United States, Canada, and Mexico, among them the US dominate the North American Furniture market in 2022. The United States stands as the powerhouse of the North American furniture market. Its substantial population, high consumer spending, and diverse range of consumer preferences contribute to its significant market share. With a population that seeks both functionality and aesthetics in furniture, the U.S. market is diverse and adaptable. The rise of e-commerce has allowed consumers to access a wide range of furniture options, while the growing trend of sustainable and customizable furniture aligns with consumers' increasing environmental awareness and desire for personalized products. The U.S. is home to numerous well-established furniture manufacturers, designers, and retailers, making it a hub for innovation and trend-setting within the industry. The growth of remote work and home offices has sparked a renewed interest in ergonomic and stylish home office furniture. Companies are designing furniture that meets the needs of modern workspaces. American furniture history is preserved in various museums across the country. Museums such as The Museum of Fine Arts, Boston, and The Metropolitan Museum of Art in New York showcase exquisite historical furniture pieces. The U.S. is home to a growing number of furniture startups that are disrupting traditional design and manufacturing processes. These startups often emphasize modern design, customization, and direct-to-consumer sales. Based on the material, the wood segment is expected to attain a high market size in 2022 in the North American furniture market. Wood has been a preferred material for furniture for centuries due to its natural beauty, warmth, and classic appeal. Consumers in North America often have a strong affinity for wooden furniture pieces that add a timeless and cozy feel to their interiors. Wood is known for its durability and longevity, making it a valuable investment for consumers. High-quality wooden furniture pieces can withstand years of use and retain their aesthetic and functional appeal. With growing awareness of environmental concerns, consumers are increasingly drawn to furniture made from sustainable materials. Wood from responsibly managed forests can be considered an eco-friendly choice, enhancing its attractiveness to environmentally conscious buyers. In North America, there is a significant market for domestically produced furniture. Wood is often sourced locally, supporting local economies and reducing the carbon footprint associated with transportation. Based on the product types segment, which includes Beds, Tables & Desks, Sofa & Couch, Chairs & Stools, Cabinets & Shelves and Others. Among them, Beds is leading the market in 2022. Beds are essential pieces of furniture in every household. They serve a primary purpose of providing a comfortable and restful sleep, making them a fundamental requirement for daily life. With a substantial portion of the North American population owning homes, there's a consistent and ongoing demand for beds as people set up their living spaces. Homeowners prioritize investing in foundational furniture items like beds. The aging population in North America has specific sleep and comfort needs. Adjustable and ergonomic beds cater to the preferences of older individuals who prioritize health and comfort in their furniture choices. Influence from hotel and hospitality experiences prompts consumers to seek high-quality and comfortable beds for their homes. Based on the Category, Indoor segment are growing highest CAGR by 2023-28 in the North America furniture market. The ongoing trend of spending more time at home, whether due to remote work, leisure, or health considerations, has led to a greater emphasis on creating comfortable and functional indoor spaces. This lifestyle shift drives the demand for indoor furniture that supports various activities and enhances overall living experiences. With more time spent indoors, there's an increased focus on home entertainment and leisure activities. Consumers are seeking furniture pieces that create cozy and inviting living spaces for relaxation, entertainment, and spending quality time with family. Different generations have varying preferences when it comes to indoor furniture styles. Millennials and Gen Z, for instance, often prioritize functional and versatile pieces that cater to their modern lifestyles. Residential are expected to have a market in the North America Furniture industry by 2028, according to the application. A substantial portion of the North American population owns homes, leading to a consistent demand for residential furniture. As homeowners invest in their properties, they also seek furniture to furnish and personalize their living spaces. Renovation projects and home improvement endeavors often involve purchasing new furniture to upgrade interiors. Consumers seek furniture that enhances the aesthetics and functionality of their homes. The prevalence of multigenerational living, where multiple generations share the same household, leads to increased demand for furniture that accommodates various family members' needs and preferences. Growing families or individuals cohabitating with roommates lead to increased furniture demand as additional furniture pieces are needed to accommodate more occupants. DIY projects and customization options offered by furniture manufacturers allow consumers to personalize their furniture and adapt it to their specific needs. Based on the distribution channels considered in this report, they include specialty stores, supermarkets and hypermarkets, online and other distribution channels. Among them, specialty stores will have the highest market share in 2022. Specialty stores are known for their expertise in furniture and home furnishings. Their knowledgeable staff can provide customers with detailed information about various products, materials, styles, and design considerations. This personalized guidance helps consumers make informed purchasing decisions. Many specialty stores offer customization options, allowing customers to tailor furniture to their specific requirements, such as size, fabric, color, and finish. This level of personalization enhances the appeal of specialty stores. Specialty stores often provide reliable after-sales support, including warranty information, maintenance tips, and assistance with any issues that may arise after purchase. Companies Covered in this report: Steelcase Inc., MillerKnoll, Inc, Haworth Inc., Okamura Corporation, Krueger International, Inc, Vitra, Kinnarps Holding AB, Inter IKEA Systems B.V., Virco inc., HNI Corporation, Kimball International, Hooker Furnishings Corporation, Ralph Lauren Corporation, Ashley Furniture Industries and Inc and Steris plc. Considered in this report • Geography: North America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • North America Furniture market Research Report with its value and forecast along with its segments • Country-wise Furniture market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Country covered in the report: • US • Canada • Mexico By Material • Wood • Metal • Plastic • Glass • Others By product • Beds • Tables & Desks • Sofa & Couch • Chairs & Stools • Cabinets & Shelves • Other By Category • Indoor • Outdoor By Application • Residential • Office • Hotel • Others (Hospital Furniture) By Distribution Channel • Specialty Stores (Traditional Stores, Branded Furniture/Flagships Stores, Lifestyle Stores, Home Centers) • Supermarkets and Hypermarkets (Department Stores, Discount Department Stores) • Online • Others (Office Supply Stores, Buying Through a Designer) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Furniture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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