The Wooden Household Furniture by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wooden Household Furniture, The wooden household furniture market size has grown steadily in recent years. It will grow from $163.61 billion in 2023 to $171.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to population growth, consumer lifestyle changes, economic conditions and disposable income, demographic factors, globalization and trade.
The wooden household furniture market size is expected to see steady growth in the next few years. It will grow to $203.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to sustainable and eco-friendly design, e-commerce growth, customization and personalization trends, urbanization and small living spaces, consumer preferences for natural materials.. Major trends in the forecast period include compact and space-saving solutions, innovative joinery techniques, digital visualization tools, mixed material combinations, wellness-centric designs, global design influences.
The rising demand from the residential sector is expected to propel the growth of the wooden household furniture market going forward. The increasing global population and urbanization are leading to the construction of more residential buildings and homes, which in turn is driving up the demand for furniture. Wooden household furniture is a popular choice among homeowners due to its durability, versatility, and aesthetic appeal. For instance, in October 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the rise in demand from the residential sector is driving the growth of the wooden household furniture market.
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The wooden household furniture market covered in this report is segmented –
1) By Product: Chairs, Tables, Cabinets, Other Products
2) By Wood Type: Hardwood, Softwood
3) By Material: Plywood, Laminates, Medium-Density Fiberboard (MDF), Other Materials
4) By Distribution Channel: Online, Offline
5) By Application: Residential, Commercial
Product innovation is a key trend gaining popularity in the wooden household furniture market. Many customers are seeking wooden furniture built utilizing ecologically friendly production techniques and materials from sustainably derived sources as environmental concerns continue to rise. As a result, major companies operating in the market focus on developing sustainable and eco-friendly wooden furniture. For example, in January 2022, Silk & Snow, a Canada-based bedding company, launched a sustainable furniture line for bedrooms. This collection is handcrafted using organic and non-toxic ingredients and is constructed using a simple, tool-free method of Japanese joinery.
The wooden household furniture market report table of contents includes:
1. Executive Summary
2. Wooden Household Furniture Market Characteristics
3. Wooden Household Furniture Market Trends And Strategies
4. Wooden Household Furniture Market – Macro Economic Scenario
5. Global Wooden Household Furniture Market Size and Growth
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26. South America Wooden Household Furniture Market
27. Brazil Wooden Household Furniture Market
28. Middle East Wooden Household Furniture Market
29. Africa Wooden Household Furniture Market
30. Wooden Household Furniture Market Competitive Landscape And Company Profiles
Top Major Players:
- Inter IKEA Systems B.V
- Godrej & Boyce Mfg. Co. Ltd
- Herman Miller Inc
- Steelcase Inc
- HNI Corporation
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