The furniture and furnishing industry is a manufacturing sector in global with a long history. It includes the production of household, office and kitchen furniture, as well as mattresses, bedding and parts of furniture. A large variety of raw materials are used in production, including wood, rattan, plastic and metal. Wooden furniture is the industry’s leading category in terms of production and exports.
As the global economy mends, the 2021 growth of Furniture and Furnishing will have significant change from previous year. According to our latest study, the global Furniture and Furnishing market size is USD 486.30 billion in 2021 from USD 412.41 billion in 2020, with a change of 19.72% between 2020 and 2021. The global Furniture and Furnishing market size will reach USD 713.07 billion in 2028, growing at a CAGR of 5.16% over the analysis period.
The furniture and furnishing is classified into the home furniture, office furniture, hotel furniture, healthcare furniture, educational furniture, furnishing and others according to the product type. As of 2021, home furniture segment dominates the market contributing more than 64.57% of the total market share, reach to US$ 314.02 billion, followed by office furniture, which occupied 13.90%, while healthcare furniture is seeing a fast growing as a result of Covid-19 impact.
The furniture and furnishing market is very fragment; key players include IKEA, Ashley Furniture Industries, Tempur Sealy International, Williams-Sonoma, Restoration Hardware, Steelcase, Herman Miller, Kuka Home, Oppein Home Group, Okamura, HNI Corporation, Sleep Number, Haworth, La-Z-Boy, Serta Simmons Bedding, KOKUYO, Sofia Furniture, Sleemon and others; IKEA is the largest players, with revenue US$ 25132 million in 2021, holds 5.17% market share global.
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