We're expecting the global commercial furniture market to grow at a pretty good clip (that's a steady CAGR!) between 2023 and 2027. What's driving this? Well, it's a mix of things, really. Think about all the commercial activity happening worldwide – hotels, schools, hospitals – and then factor in that furniture companies are stepping up their game with comfy, stylish options in all sorts of designs and colors to meet the needs of a growing population. Businesses are also buying more advanced furniture to make their spaces look better and keep customers happy. And here's a fun fact35-40% of US consumers prioritize eco-friendly options. So, all that potential growth in the United States is really pushing the demand for environment-friendly commercial furniture.
Rise In Number of Corporate Offices Supports Market Demand
Hey, things are really hopping in developing countries! With more IT parks and commercial zones going up to get the economy humming, the demand for commercial furniture is going through the roof. To keep employees happy and productive, companies are throwing money at creating collaborative spaces – think comfy lounges and informal areas perfect for chatting with colleagues. All those cool spaces need awesome furniture, which is fueling the demand even more. Plus, we're seeing tons of tech advancements like smart workplace furniture and intelligent products adding to the growth. Companies are also investing in upgrading their old furniture, which should mean even more opportunities for the global commercial furniture market in the next five years. And let's be real, with everyone sitting down so much, there's a big push for furniture that helps with posture and movement, which is only going to make the market grow faster!
Flourishing HoReCa Business Fuels Market Demand
Ever wondered what HoReCa means? It's just a fancy way of saying hotels, restaurants, and catering, and it's a massive money-maker worldwide! In the US alone, the commercial real estate for these businesses is worth around USD 1 Trillion. As people have more money to spend and living standards improve, especially in rapidly growing cities, we're seeing a boom in junk food and eating out at restaurants, cafes, and pubs. The big guys are working hard to help the industry grow, trying to make even more money. Companies are teaming up their knowledge and cooking skills with smart marketing to get foodservice operators, distributors, and manufacturers on board to boost the HoReCa scene. In big cities, most people are working, so they don't have as much time to cook, which means more folks grabbing fast food because it's cheap and easy to find. Young people especially love eating at places like Dominos and Burger King, and the growth of these giant food chains is really helping the HoReCa business take off around the world. This growing business means more demand for comfy and affordable commercial furniture to keep customers happy while they eat.
Market Segmentation
The global commercial furniture market is segmented by type, end use, distribution channel, regional distribution, and competition landscape
Market Players
Okamura Corporation, HNI Corporation, Herman Miller Inc., Haworth Inc., Global Furniture Group, Steelcase Inc., Knoll Inc., Kimball International, 9to5 Seating, KOKUYO Co. Ltd, are among the major market players in the global platform that lead the market growth of the global commercial furniture market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · End Use · Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; UAE; Saudi Arabia; South Africa; |
| Key companies profiled | Okamura Corporation, HNI Corporation, Herman Miller Inc., Haworth Inc., Global Furniture Group, Steelcase Inc., Knoll Inc., Kimball International, 9to5 Seating, KOKUYO Co. Ltd |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
