What Fueled Household Furniture And Kitchen Cabinet Market?
The household furniture and kitchen cabinet market has seen considerable growth due to a variety of factors.
• In recent times, the market size for household furniture and kitchen cabinets has shown robust growth. The market, which was valued at $399.38 billion in 2024, is projected to increase to $424.56 billion in 2025, leading to a compound annual growth rate (CAGR) of 6.3%.
Factors that have contributed to this growth in the historic period include population increase and urbanization, strategies in retail expansion and marketing, growth in e-commerce, environmental consciousness, and implementation of sustainable and circular furniture methods.
What are the Market Size and Expected Growth Rates for the Household Furniture And Kitchen Cabinet Market?
The household furniture and kitchen cabinet market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for household furniture and kitchen cabinets is predicted to witness robust growth. By 2029, it is forecasted to expand to $524.17 billion, with a compound annual growth rate (CAGR) of 5.4%.
The anticipated growth during the forecast period can be attributed to factors such as the rise of compact and multifunctional furniture, the popularity of energy-efficient household products, shifting preferences in kitchen designs, advancements in materials and finishes, and an increased emphasis on outdoor furniture. Key trends expected to shape the forecast period include the integration of smart furniture, personalized kitchen cabinets and storage solutions, the preference for open shelving and display cabinets, partnerships with designers, the use of bold colors in furniture, and the evolution of automated and smart kitchens.
What Are The Key Drivers Fueling Growth In The Household Furniture And Kitchen Cabinet Market?
The rise in online shopping is anticipated to boost the household furniture and kitchen cabinet industry in the future. E-commerce, the act of purchasing and selling goods and services via the internet or other digital platforms, has transformed this market. It has made it easier for consumers to look up, compare, and buy appliances while offering businesses the chance to connect with a wider range of customers and optimize their operations. In August 2023, as per the United States Census Bureau, a government agency in the US, there was a 7.5% (or 1.4%) rise in the estimate for e-commerce in the second quarter of 2023 compared to the same period in 2022, and a 0.6% (or 0.4%) growth in overall retail sales. Hence, the growing preference for online shopping is propelling the household furniture and kitchen cabinet market.
What Are The Key Segments Within The Global Household Furniture And Kitchen Cabinet Market?
The household furniture and kitchen cabinet market covered in this report is segmented –
1) By Type: Household Furniture, Kitchen Cabinet
2) By Type of Material: Metal, Wood, Other Material Types
3) By Distribution Channel: Online, Offline
Subsegments:
1) By Household Furniture: Living Room Furniture, Sofas And Couches, Coffee Tables, TV Stands, Recliners, Bookcases, Beds And Mattresses, Dressers And Chests, Desks
2) By Kitchen Cabinet: Base Cabinets, Wall Cabinets, Tall Cabinets, Custom Cabinets, Pre-Manufactured Cabinets
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How Are New Trends Impacting The Size Of The Household Furniture And Kitchen Cabinet
RTA, or Ready-To-Assemble, furniture is becoming increasingly popular amongst property owners and tenants around the world. The main reasons behind this trend are their affordability and convenient, speedy installation. Often referred to as Knock Down furniture, these items come in unassembled parts, accompanied by guidelines for putting them together. While already favoured in developed nations, the trend of RTA furniture is now permeating emerging markets like China and India. This is also beneficial to manufacturers as it eliminates assembly costs and time, enabling them to channel their efforts exclusively into design and component production. Examples of RTA furniture range from bedroom sets and dressers to computer desks, bookcases, and filing cabinets. Recognizing the escalating demand for such products in India, IKEA, a prominent ready-to-assemble manufacturer, has initiated stores in the country.
Who Are the Key Players in the Household Furniture And Kitchen Cabinet Market?
Major companies operating in the household furniture and kitchen cabinet market include:
• IKEA
• Ashley Furniture Industries
• Steelcase Inc.
• HNI Corporation
• Haworth Inc.
• La-Z-Boy Incorporated
• Herman Miller Inc.
• Hooker Furniture Corporation
• Knoll Inc.
• Kimball International
• Bassett Furniture Industries Inc.
• Flexsteel Industries Inc.
• American Woodmark Corporation
• MasterBrand Cabinets Inc.
• Wellborn Cabinet Inc.
• Masco Corporation
• Fortune Brands Home & Security Inc.
• Stanley Furniture Company Inc.
• Sauder Woodworking Co.
• Ethan Allen Interiors Inc.
• Thomasville Furniture Industries
• Crate & Barrel
• RH (formerly Restoration Hardware)
• Williams-Sonoma Inc.
• Norcraft Companies L.P.
• Mastercraft Kitchens
• Merillat Industries
• Aran Cucine
• Poggenpohl Möbelwerke GmbH
• Starmark Cabinetry
What are the Regional Insights into the Household Furniture And Kitchen Cabinet Market?
Asia-Pacific was the largest region in the household furniture and kitchen cabinet market in 2024. Western Europe was the second largest region in the household furniture and kitchen cabinet market. The regions covered in the household furniture and kitchen cabinet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
