There have been several significant events in recent times which have impacted the furniture and household items industry. One such example is the shift in working patterns. Employees are increasingly making use of the opportunity to work remotely. As a result, an increased number of people have set up office space for themselves at home. One significant problem for the furniture industry has been the global supply chain issues witnessed over the past years, especially since many products sold in Europe and the Americas have to be transported long distances from countries such as China.
Estimated value of the furniture market worldwide from 2022 to 2030 (in billion U.S. dollars)
Further details: Visit original statistic Estimated value of the furniture market worldwide from 2022 to 2030 (in billion U.S. dollars)
By 2030, the global furniture market is expected to reach 873 billion U.S. dollars in value, up from almost 579 billion dollars in 2023, representing a growth of around 50 percent over the period. These sales are made up of many different products to furnish all rooms of the house. Other household items also hold a significant market value, such as appliances for the kitchen and laundry.
Global furniture marketRevenue of the kitchen & dining furniture market worldwide 2023, by country (in million U.S. dollars)
Further details: Visit original statistic Revenue of the kitchen & dining furniture market worldwide 2023, by country (in million U.S. dollars)
The kitchen furniture market in the United States was valued at around 36 billion U.S. dollars in 2023, with Germany in second place with 7.8 U.S. dollars. Despite ranking second, Germany's kitchen market revenue makes up only a sixth of that of the United States.
The kitchen and dining market covers the production, distribution, and retail sale of objects designed for kitchens and dining rooms. These objects mainly meet people's needs for eating, preparing, or storing food.
Monthly retail sales of furniture and home furnishing stores in the United States from 2017 to 2023 (in million U.S. dollars)
Further details: Visit original statistic Monthly retail sales of furniture and home furnishing stores in the United States from 2017 to 2023 (in million U.S. dollars)
For furniture and home furnishing retailers in the United States, sales remained relatively stable in 2023, albeit decreasing slightly in comparison to the previous year. In October 2023, sales totalled 10.5 billion U.S. dollars. This was slightly less than the 11.9 billion dollars in October of the previous year.
Furniture market in the U.S.Sales of selected furniture and home goods retailers in the United States in 2022 (in billion U.S. dollars)
Further details: Visit original statistic Sales of selected furniture and home goods retailers in the United States in 2022 (in billion U.S. dollars)
Wayfair was the leading furniture and home goods retailer in the United States in 2022, in terms of sales. The company generated sales of over 10 billion U.S. dollars in that year. The North American branch of Swedish retailer IKEA came in third with sales of roughly six billion dollars.
IKEA
Furniture, furnishings, and household items comprise everything that is purchased to support either the functioning or aesthetics of a home or business. In essence, this includes everything from a table and chairs to batteries and paper towels. The industry includes both manufacturers that sell their goods to retailers, manufacturers which exclusively sell their own products in their own stores, and manufactures that do both.
Furniture can be further segmented into home furniture and office furniture and then further categorized according to their role. One of the most recognizable brands serving both consumers and business is ready-to-assemble furniture maker IKEA. Household items is a broad category with many segmentations ranging from cookware and flatware, appliances, decorative accessories, to consumer staples like office supplies, and household maintenance products.
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