US Furniture Market Share, Revenue, Trends, Demand, Key Manufacturers, Growth Drivers, Challenges and Business Opportunities Till 2033


US Furniture Market Share, Revenue, Trends, Demand, Key Manufacturers, Growth Drivers, Challenges and Business Opportunities Till 2033: SPER Market Research

 Category : Consumer & Retail

 Published: Feb-2024
 Author: SPER Analyst

United States Furniture Market is projected to be worth USD 40.74 billion by 2033 and is anticipated to surge at a CAGR of 4.02%.  

All furniture manufacturing, distribution, and consumption inside the borders of the United States are collectively referred to as the "United States Furniture Market." This market is divided into a number of divisions that serve diverse customer needs, including office furniture, outdoor furniture, and home furniture. Consumer trends, economic conditions, technical breakthroughs, and regulatory regulations are some of the variables that impact the growth and performance of the industry.

United States Furniture Market Driving Factors and Challenges
The US furniture market has enormous room for innovation and diversification. Manufacturers can benefit from digital transformation by utilizing e-commerce platforms to expand their consumer base. Additionally, satisfying consumer need for individualized and multipurpose furniture solutions offers a sizable growth path. Increasing consumer disposable income, fast urbanization, shifting lifestyles, and a growing need for sustainable and eco-friendly furniture materials are some of the drivers driving the US furniture market. The growing emphasis on designing adaptable and space-saving furniture solutions to fit smaller living areas has also helped the market. The industry is experiencing profitable growth potential as a result of the major market players' increased investments in marketing and promotional efforts. 

Nowadays, the middle class prefers to purchase affordable and secondhand goods over ostentatious ones when furnishing their homes. This is expected to impede market expansion. Major companies' ability to expand their businesses is also being hindered by intense competition from disorganized key players in different parts of the world. The industry's growth is expected to be hampered by fluctuating raw material prices as well as different import and customs taxes on fixture items in many different nations.

Impact of COVID-19 on United States Furniture Market 
The COVID-19 epidemic is putting pressure on the construction industry in most parts of the nation, although depending on shifting market dynamics, conditions should return to what they were before to the pandemic. The pandemic and shutdown caused a massive surge in internet orders for home furnishings in the United States market. The early 2020s COVID-19 epidemic had a significant impact on the furniture sector. Countries that mostly rely on furniture imports have been greatly impacted by the supply chain disruption and the temporary trade embargo. The COVID-19 pandemic also demonstrated the significance of increasing digitization and automation in this sector and reducing reliance on imports.

United States Furniture Market Key Players
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as major key players are MillerKnoll Inc. (Herman Miller), Steelcase Inc., La-Z-Boy Incorporated, Haworth Inc., Ashley Furniture Industries LLC, Kimball International Inc., Okamura Corporation, Inter IKEA Systems B.V., American Signature Inc. and various others.

United States Furniture Market Segmentation:

By Product: Based on the Product, United States Furniture Market is segmented as; Kitchen Furniture, Living and Bedroom Furniture, Bathroom Furniture, Outdoor Furniture, and Other Furniture and Others.

By Distribution Channel: Based on the Distribution Channel, United States Furniture Market is segmented as; Home Centres, Flagship Stores, Specialty Stores, Online Stores, and Other Distribution Channels.

By Region: This research also includes data for Northeast, Midwest, South and West.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report

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