Global Upholstered Furniture Market Size By Product Type, By Material Type, By End-Use Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Upholstered Furniture Market size was valued at USD 54.76 Billion in 2023 and is projected to reach USD 82.77 Billion by 2031, growing at a CAGR of 5.3% during the forecast period 2024-2031.
Global Upholstered Furniture Market Drivers
Numerous important factors effect the growth and trends of the upholstered furniture market. A few of these consist of
Customer TrendsA major factor is the evolution of customer tastes and lifestyle choices. The market for chic and cozy upholstered furniture is growing as individuals look for greater comfort and beauty in their homes.
Housing MarketThe state of the housing market as a whole is very important. An increase in the building or renovating of homes frequently results in a rise in the demand for furniture, particularly upholstered furniture.
Economic FactorsA number of factors, including GDP growth, employment rates, and levels of disposable income, can have an impact on consumer spending on furniture and other non-essential things.
Material InnovationThe market may be impacted by developments in upholstery materials, such as sustainable and eco-friendly varieties. Customers are becoming more aware of how their purchases affect the environment.
Growth of E-commerceThe furniture industry has changed as a result of the popularity of online purchasing. Online shopping has made furniture more convenient, and businesses that sell upholstered furniture must change with the times to remain competitive.
Trends in CustomizationMore and more customers are looking for furniture that may be tailored to their needs. Businesses that provide a wide range of upholstery textiles, hues, and patterns typically draw in more clients.
GlobalizationBecause the market is worldwide in scope, variables such as exchange rates, international trade laws, and geopolitical developments can affect pricing and the supply chain.
Technological AdvancementsBy providing distinctive and appealing items, technology integration, such as smart furniture with integrated electronics or creative production techniques, can spur market growth.
Global Upholstered Furniture Market Restraints
Numerous important factors effect the growth and trends of the upholstered furniture market. A few of these consist of
Customer TrendsA major factor is the evolution of customer tastes and lifestyle choices. The market for chic and cozy upholstered furniture is growing as individuals look for greater comfort and beauty in their homes.
Housing MarketThe state of the housing market as a whole is very important. An increase in the building or renovating of homes frequently results in a rise in the demand for furniture, particularly upholstered furniture.
Economic FactorsA number of factors, including GDP growth, employment rates, and levels of disposable income, can have an impact on consumer spending on furniture and other non-essential things.
Material InnovationThe market may be impacted by developments in upholstery materials, such as sustainable and eco-friendly varieties. Customers are becoming more aware of how their purchases affect the environment.
Growth of E-commerceThe furniture industry has changed as a result of the popularity of online purchasing. Online shopping has made furniture more convenient, and businesses that sell upholstered furniture must change with the times to remain competitive.
Trends in CustomizationMore and more customers are looking for furniture that may be tailored to their needs. Businesses that provide a wide range of upholstery textiles, hues, and patterns typically draw in more clients.
GlobalizationBecause the market is worldwide in scope, variables such as exchange rates, international trade laws, and geopolitical developments can affect pricing and the supply chain.
Technological AdvancementsBy providing distinctive and appealing items, technology integration, such as smart furniture with integrated electronics or creative production techniques, can spur market growth.
Global Upholstered Furniture Market Segmentation Analysis
The Global Upholstered Furniture Market is Segmented on the basis of, Product Type, Material Type, End-Use Application and Geography.
Upholstered Furniture Market, By Material Type
Fabric Upholstery This includes furniture pieces upholstered with various types of fabrics such as cotton, linen, polyester, velvet, etc.
Leather Upholstery Furniture upholstered with genuine or synthetic leather materials.
Others This may include furniture upholstered with materials like faux leather, vinyl, or other specialty fabrics.
Upholstered Furniture Market, By Product Type
Sofas and Couches Large seating furniture typically designed for multiple people.
Chairs Including armchairs, recliners, accent chairs, etc.
Bedroom Furniture Such as upholstered bed frames, headboards, and footboards.
Dining Chairs and Seating Upholstered chairs used for dining tables.
Ottomans and Poufs Low seats or footstools, often used for additional seating or as a coffee table.
Upholstered Furniture Market, By End-Use Application
Residential Furniture designed for use in homes, apartments, condos, etc.
Commercial Furniture intended for use in commercial spaces such as offices, hotels, restaurants, etc.
Institutional Furniture designed for use in institutions like hospitals, schools, government buildings, etc.
Upholstered Furniture Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Upholstered Furniture Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Upholstered Furniture Market are
Ashley Furniture Industries, Inc.
Hooker Furniture Corporation
La-Z-Boy Incorporated
Bassett Furniture Industries, Inc.
Ethan Allen Interiors, Inc.
Leggett & Platt, Inc.
Serta Simmons Holding Company, LLC
Tempur Sealy International, Inc.
Stanley Furniture Company
Pulaski Furniture Corporation
 IKEA
Mayo Manufacturing Corp
Natuzzi S.p.A
Ingenia Casa
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2031
BASE YEAR
2023
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Ashley Furniture Industries, Inc., Hooker Furniture Corporation, La-Z-Boy Incorporated, Bassett Furniture Industries, Inc., Ethan Allen Interiors, Inc., Serta Simmons Holding Company, LLC, Tempur Sealy International, Inc., Stanley Furniture Company, Pulaski Furniture Corporation, Mayo Manufacturing Corp.
SEGMENTS COVERED
By Product Type, By Material Type, By End-Use Application and Geography.
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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