Furniture and Home Furnishing Industry Share, Size & Forecast Report 2032

According to Fortune Business Insights, the global furniture and home furnishing market is witnessing steady expansion, driven by increasing urbanization, rising consumer income, homeownership growth, and the rising appeal of aesthetic living spaces. Valued at USD 120.66 billion in 2024, the market is expected to reach USD 130.79 billion in 2025 and climb to USD 191.40 billion by 2032, growing at a CAGR of 5.59% during the forecast period.

Key Market Insights

Furniture includes movable items like beds, chairs, and tables used for seating, sleeping, and storage, while home furnishing comprises decorative and functional accessories that enhance the home’s ambiance. Growing investments in residential real estate, consumer interest in interior design, and increasing renovation activities are significantly driving global demand for these products.

In 2024, Asia Pacific held a dominant 91.6% market share, owing to rapid real estate development and expanding middle-class populations in India, China, and Southeast Asia.

Market Trends

Work-from-Home Driving Demand for Functional Furniture: Remote work has fueled demand for multi-functional desks, chairs, and convertible furniture that blend with home décor while serving professional needs.

Smart Furniture Adoption: Tech-integrated furniture featuring wireless charging, LED lighting, and smart home connectivity is gaining traction, especially in Europe and North America.

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Competitive Landscape

Key players are enhancing their global footprint through collaborations, product innovation, and regional expansion. Partnerships with designers and global retail networks have allowed companies to strengthen brand equity and cater to evolving consumer demands.

LIST OF KEY FURNITURE AND HOME FURNISHING COMPANIES PROFILED

• Cassina S.p.A. (Italy)
• Kimball International, Inc. (U.S.)
• Nilkamal Furniture (India)
• BROWN JORDAN (U.S.)
• Steelcase (U.S.)
• Herman Miller, Inc. (Knoll Inc) (U.S.)
• Vivono Designs (India)
• American Signature, Inc. (U.S.)
• DURESTA (U.K.)
• Haworth, Inc. (Italy)

Market Dynamics

Drivers: Rising Consumer Spending on Home Décor

Consumers are spending more on home décor to enhance comfort, aesthetics, and personal expression. Factors such as growing disposable incomes, urban migration, and global design exposure (via social media and international brands) contribute significantly to this trend. Emerging markets like India, Vietnam, and Brazil are witnessing a rise in home remodeling and furniture purchases due to increased lifestyle aspirations.

Restraints: Volatile Raw Material Prices

Frequent fluctuations in raw material prices due to geopolitical instability, tariffs, and currency volatility pose a significant challenge. For example, the U.S. imposed a 125% tariff on Chinese imports in April 2025, increasing manufacturing costs and limiting profit margins for furniture producers worldwide.

Opportunities: Surge in Eco-Friendly Furniture Demand

Sustainable living trends are creating lucrative opportunities. Consumers are increasingly opting for eco-friendly furniture made from bamboo, reclaimed wood, recycled metals, and organic fabrics. Manufacturers are responding by launching green product lines that combine design, durability, and sustainability.

Segmentation Analysis

By Product Type

Living Room & Lounge Furniture dominates due to the growing preference for stylish, modular seating that enhances both comfort and interior appeal.

Bedroom Furniture is anticipated to grow rapidly with increasing interest in smart beds and compact furniture optimized for urban homes.

By Material

Wood leads in material preference due to its natural aesthetics and longevity.

Metal furniture is growing in demand for its affordability, low maintenance, and increasing popularity in modern minimalist interiors.

By Distribution Channel

Offline/Retail Outlets currently hold the largest share, favored for personalized service and product inspection.

E-commerce is the fastest-growing segment, driven by rising internet access, ease of price comparison, and platforms like Amazon, Flipkart, and Wayfair offering convenient shopping experiences.

Regional Outlook

Asia Pacific (USD 56.41 Billion in 2024)

The region leads the market, supported by robust urban development, high property sales, and a growing preference for modern interiors. According to the India Brand Equity Foundation, India saw residential sales peak at USD 42 billion in FY 2023, while Trade Promotion Council of India ranks it as the fourth-largest furniture consumer globally.

North America

North America is seeing increased investment in sustainable furniture. Home sales in the U.S. reached 6.12 million units in 2021, and Canada saw a 3.7% increase in sales between Dec 2023 and Jan 2024. Manufacturers like Cabinetworks Group are expanding production facilities to meet rising demand for kitchen and home furniture.

Europe

Demand in Europe is fueled by urban growth, tech-savvy furniture buyers, and a shift towards compact, smart homes. Countries like Germany, the U.K., and France are driving demand for multi-functional and tech-enabled furniture with features like USB ports and voice control.

South America and Middle East & Africa

These regions are experiencing rapid growth, backed by digital marketing efforts and rising consumer interest in affordable and stylish home décor. Social platforms like TikTok and Instagram are helping brands influence buying behavior.

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Recent Developments:

February 2025 - IKEA Systems B.V., a Netherlands-based manufacturer, announced opening eight new U.S. stores in 2025. The launch would help the company to enhance its customer reach and operation revenue.

May 2024 - IKEA Systems B.V., a home furnishing retailer, partnered with Rhenus, a warehouse facility company, to build its online home furnishing products’ reach across Delhi NCR, India.

May 2024 – Remax Furniture, an India-based manufacturer of home furniture products, introduced its flagship furniture store in New Delhi, India. The newly launched store would provide home furnishing and décor products to make home interiors more appealing and aesthetic.

The global furniture and home furnishing market is set for steady growth through 2032, driven by rising urban housing, eco-conscious consumers, and the boom in digital retail. With increasing demand for smart, modular, and sustainable furniture, key players are well-positioned to capture new opportunities through product innovation and global expansion.