With the deepening of globalization and the increasing diversification of consumer lifestyles, the furniture market is ushering in unprecedented development opportunities. From traditional handicrafts to modern intelligent manufacturing, furniture is not only a necessity for home life, but also a display of cultural heritage and personal taste.
At present, the continuous increase in the size of the global furniture market not only reflects the improvement of people's pursuit of quality of life, but also indicates huge business potential and development space.
Market Overview
It is expected that by 2024, the revenue of the global furniture market will reach 766.2 billion US dollars. In addition, from 2024 to 2028, the furniture market is expected to maintain a compound annual growth rate of 5.02%. In terms of the international market, the US market has the largest share.
Among the sub-segments of the furniture market, living room furniture occupies the largest market share. Data shows that the size of the living room furniture market in 2023 is about 227.7 billion US dollars, followed by bedroom furniture and home decorations. It is expected that these three sub-segments will continue to maintain their leading position before 2028.
The furniture market occupies an important position in the global e-commerce market, and the size of the global furniture e-commerce market will reach 236 billion US dollars in 2023. It is estimated that by 2027, the furniture e-commerce market in the United States will reach US$118.6 billion, China will reach US$85.28 billion, and Europe will reach US$83.47 billion.
Insights from popular regions
The Asia-Pacific region is the largest market for furniture products, accounting for 36% of the market share. The region is expected to have a compound annual growth rate of 8.18% from 2022 to 2032, with strong market potential and sustained growth momentum.
Europe and North America account for 28% and 23% of the global furniture market share respectively. The three major regions of Asia-Pacific, Europe and Latin America account for more than 80% of the global furniture market.
Learn more:Livingroom set,Coffee Tabels And Chairs,Dining room set,Bedroom set,Luxury Sofas,Home office
