Home Furniture Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Home Furniture Market size is valued at USD 165.0 billion in 2021 and is expected to reach a value of USD 253.1 million by 2028, growing at a CAGR of 6.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the home furniture market and that can be segmented by product, material type, and distribution channel. By product, the home furniture market has been segmented into the living room and dining room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, plastic, and other furniture. The living room segment is likely to be the largest and fastest-growing segment in terms of product. Based on material type, the home furniture market is segmented into wooden, metal, glass, plastic, and others.  Among these, the wooden segment is expected to have the fastest-growing market during the forecast period 2022-2028. On the basis of distribution channels, the market is segregated into home centers, flagship stores, specialty stores, online stores, and other distribution channels. Among these, the home centers segment is expected to have the fastest-growing market during the forecast period 2022-2028.

Key Developments:

In Mar 2020, on a consolidated basis, La-Z-Boy finalized the acquisition of the Seattle Market. This acquisition of the six locations is expected to add approximately USD 15 million to the company’s yearly sales.