What Transformation Has the Wooden Household Furniture Market Undergone?
The wooden household furniture market has seen considerable growth due to a variety of factors.
• In recent years, the market size for wooden household furniture has seen robust growth. It is projected to rise from $163.96 billion in 2024 to $172.66 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. Factors such as population growth, shifts in consumer lifestyle, economic conditions, disposable income, demographics, globalization, and trade have all played a role in the growth during the historic period.
What are the Market Size and Expected Growth Rates for the Wooden Household Furniture Market Size?
The Wooden Household Furniture market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the wooden household furniture market size is anticipated to experience continual growth. The market is projected to escalate to $203.29 billion in 2029, with a compound annual growth rate (CAGR) of 4.2%.
The growth during the forecast period could be credited to eco-friendly and sustainable design, the rise of e-commerce, customization and personalization trends, urbanization alongside compact living spaces, and consumer inclination towards natural materials. Noteworthy trends during the forecast period encompass compact and space-saving solutions, cutting-edge joinery methods, digital visualization tools, combinations of varied materials, designs focused on wellness, and influences from global designs.
Which Key Drivers Are Propelling The Wooden Household Furniture Market's Growth?
Growth in the wooden household furniture market is projected to be stimulated by an escalating demand from the domestic sector. This surge is attributed to the expanding global population and urban development, which are giving rise to more residential constructions and homes, subsequently boosting the need for furniture. The endurance, adaptability, and visual charm of wooden household furniture render it a favored choice among homeowners. For example, per the February statistics of the United States Census Bureau, a main US federal statistical agency, in October 2023, the quantity of privately-owned housing units authorized by building sanctions on a seasonally adjusted annual rate was 1,524,000. This amount showcases an increase of 13.8% from the revised January rate of 1,339,000. As a result, the burgeoning demand from the domestic sector stimulates the advancement of the wooden household furniture market.
What Are The Key Segments Within The Global Wooden Household Furniture Market?
The wooden household furniture market covered in this report is segmented –
1) By Product: Chairs, Tables, Cabinets, Other Products
2) By Wood Type: Hardwood, Softwood
3) By Material: Plywood, Laminates, Medium-Density Fiberboard (MDF), Other Materials
4) By Distribution Channel: Online, Offline
5) By Application: Residential, Commercial
Subsegments:
1) By Chairs: Dining Chairs, Lounge Chairs, Office Chairs, Accent Chairs
2) By Tables: Dining Tables, Coffee Tables, Side Tables, Desks
3) By Cabinets: Storage Cabinets, Display Cabinets, Kitchen Cabinets, Bathroom Cabinets
4) By Other Products: Beds, Dressers, Shelves, Benches
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How Are New Trends Impacting The Size Of The Wooden Household Furniture Market?
The emergence of product innovation is a significant trend in the wooden household furniture market that is gaining traction. With the growing concern for the environment, many customers now desire wooden furniture manufactured with eco-friendly practices and materials sourced sustainably. Consequently, prominent companies in the market are prioritizing the creation of eco-friendly and sustainable wooden furniture. To illustrate, Silk & Snow, a bedding company based in Canada, introduced a sustainable line of bedroom furniture in January 2022. This lineup is handcrafted from organic, non-toxic materials, employing a straightforward, tool-free Japanese joinery technique.
Who Are the Key Players In The Wooden Household Furniture Market?
Major companies operating in the wooden household furniture market include:
• Inter IKEA Systems B.V.
• Godrej & Boyce Mfg. Co. Ltd.
• Herman Miller Inc.
• Steelcase Inc.
• HNI Corporation
• Okamura Corp.
• Durian Industries Limited
• Spacewood Furnishers Pvt. Ltd.
• Greenply Industries Limited
• Haworth Inc.
• Knoll Inc.
• Kimball International Inc.
• Ashley Furniture Industries Inc.
• NITORI Co. Ltd.
• Dalian Huafeng Furniture Group Co. Ltd.
• Dorel Industries Inc.
• Sauder Woodworking Company
• Suofeiya Home Collection Co. Ltd
• La-Z-Boy Inc.
• Hooker Furnishings Corporation
• Natuzzi Group
• Kinnarps AB
• Klaussner Furniture Industries Inc.
• Samson Holding Ltd.
• Man Wah Holdings Limited
• American Woodmark Corporation
• Bassett Furniture Industries Inc.
• Bernhardt Furniture Company
• Brown Jordan International Inc.
• Century Furniture LLC
What Are The Regional Insights Into The Wooden Household Furniture Market?
Asia-Pacific was the largest region in the wooden household furniture market in 2024. The regions covered in the wooden household furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
