Global Home Furnishing Market is valued approximately at USD 728.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2020-2026. Due to the government protocols to stay at home due to COVID-19 pandemic, the market is facing challenges, such as manufacturing sector as well as supply chain by distributer is at halt. The home furnishing industry are the companies that manufactures furniture, floor coverings, wall coverings, non-upholstered kitchenware, and related furnishings. It also includes couches, desks, tables, chairs, carpets, drawers, bed frames and headboards, rugs, wallpaper, blinds, mattresses, shades and curtains, entertainment centers and stands, wall units, outdoor furniture etc. The rising disposable income, expansion and development of real estate industry and consumer preference towards adoption and usage of eco-friendly products are the few factors responsible for growth of the market over the forecast period. Moreover, improving lifestyle and consumers prefer online retail platforms for buying furniture, driving the growth of this market. Furthermore, introduction of innovative products and other strategic alliance by various market player will create a lucrative demand for this market. For instance, as per company’s news release in August 2018, Ikea, Sweden company, established its first outlet in Hyderabad India, investing over USD 131.4 million. However, increasing cost of raw materials is the major factor restraining the growth of global Home Furnishing market during the forecast period.
The regional analysis of global Home Furnishing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Bed Bath & Beyond Inc.
JCPenney Company, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Home Furnishing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers