What Has Been the Progress and Growth of the Home Furnishings And Floor Coverings Market in Recent Years?
The home furnishings and floor coverings market has seen considerable growth due to a variety of factors.
• The market size of home furnishings and floor coverings has seen a robust growth in the past few years. The market worth, which stood at $126.31 billion in 2024, is expected to rise to $135.95 billion in 2025, showing a compound annual growth rate (CAGR) of 7.6%.
Factors such as housing market trends, changes in consumer lifestyles, economic climate and demographic shifts contributed to the growth witnessed in the historic years.
How Does the Forecast Look for the Home Furnishings And Floor Coverings Market?
The home furnishings and floor coverings market is expected to maintain its strong growth trajectory in upcoming years.
• A substantial expansion is projected in the home furnishings and floor coverings industry in the coming years, reaching a market value of $177.33 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.9%.
The predicted growth during this period is primarily due to factors like the rise of e-commerce and digital technology, the integration of smart home features, emphasis on health and well-being, and influences from the hospitality and commercial areas. Key trends anticipated in this forecast period encompass sustainability and eco-consciousness, versatile and space-efficient solutions, personalization and customization, and material technology advancements.
What Are The Leading Drivers Of Growth In The Home Furnishings And Floor Coverings Market?
The surge in online shopping is predicted to facilitate expansion in the home furnishing and floor coverings industry. The internet enables manufacturers to showcase their merchandise on a wider platform, thereby enhancing their geographical customer outreach and bolstering the development of the home furnishing and floor coverings manufacturing sector. In countries like India, for instance, the accessibility of e-commerce sites has sent sales volumes in the home furnishing and floor coverings sector soaring by providing greater exposure to producers who were once restricted to a single location.
How Are The Segments Defined Within The Global Home Furnishings And Floor Coverings Market?
The home furnishings and floor coverings market covered in this report is segmented –
1) By Type: Home Furnishings, Floor Coverings
2) By Price Point: Mass, Premium
3) By Distribution Channel: Super markets and Hyper markets, Specialty Stores, E-commerce, Other Distribution Channels
4) By Application: Household, Commercial
Subsegments:
1) By Home Furnishings: Furniture (Sofas, Tables, Chairs), Bedding (Mattresses, Bed Linens), Curtains And Drapes, Decorative Accessories (Cushions, Throws, Rugs), Lighting (Lamps, Chandeliers)
2) By Floor Coverings: Carpets And Rugs, Vinyl Flooring, Ceramic Tiles, Wood Flooring, Laminate Flooring, Stone Flooring, Concrete Flooring
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What Emerging Trends Are Influencing The Growth Of The Home Furnishings And Floor Coverings Market?
Manufacturers of home furnishings and floor coverings are turning to digital printing technology as a way to reduce operational costs. This new technology not only shortens the time spent on the sampling process but also decreases water usage, making it a more environmentally friendly option compared to traditional manufacturing methods. Notable providers of digital printing technologies include Epson, Bordeaux Digital PrintInk, and Fratelli Robustelli S.r.l. As per a Textile World magazine report, digital printing technologies were used to print an impressive 870 million square meters of material valued at $1.29 billion, allowing for shorter lead times, personalized home decor, enhanced design appeal, and significant cost savings.
Who Are the Key Players In The Home Furnishings And Floor Coverings Market?
Major companies operating in the home furnishings and floor coverings market include:
• Mohawk Industries Inc.
• Ashley Furniture Industries Inc.
• Berkshire Hathaway Inc.
• Tarkett SA
• Masco Corporation
• Beaulieu International Group
• Gerflor SAS
• Interfaceflor LLC
• TOLI Corporation
• Balta Group NV
• MillerKnoll Inc.
• Steelcase Inc.
• La-Z-Boy Inc.
• Leggett & Platt Incorporated
• Tempur Sealy International Inc.
• Ethan Allen Interiors Inc.
• HNI Corporation
• Shaw Industries Group Inc.
• Newell Brands Inc.
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Panasonic Corporation
• Electrolux AB
• Miele & Cie KG
• Dyson Ltd.
• iRobot Corporation
• Hunter Fan Company
• Casper Sleep Inc.
• Purple Innovation Inc.
• Tuft & Needle LLC
• Saatva Inc.
• Amerisleep LLC
• Leesa Sleep LLC
• Avocado Green Brands.
What Is The Most Dominant Region In The Home Furnishings And Floor Coverings Market?
Asia-Pacific was the largest region in the home furnishings and floor coverings market in 2023. North America was the second largest region in the home furnishings and floor coverings market. The regions covered in the home furnishings and floor coverings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
