DIY Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The DIY Furniture Market size is estimated at USD 114.90 billion in 2024, and is expected to reach USD 160.33 billion by 2029, growing at a CAGR of 6.89% during the forecast period (2024-2029).
"Do-It-Yourself" became popular due to its cost-effectiveness and customer satisfaction while creating and customizing furniture. Factors like the increasing trend of sustainable living, interest in creative hobbies, and the growing online platforms that provide tutorials and inspiration drive the market's growth. The market offers opportunities for industrial players to capitalize on the growing trends, such as sustainability and online platforms.
Consumers' rise in disposable income increases their purchasing power and spend more on luxury, comfort, and lifestyle products. The changing spending behavior of consumers and the rise in purchasing power increases the demand for DIY furniture. The rising trend of home renovation supports the growth of the market. As the home renovation trend increases, people desire to have outdoor gardens and galleries at home, buy outdoor DIY furniture, and enhance market growth. Increased growth in urbanization and globalization led to an increase in the standard of living, another factor in developing the DIY furniture market.
The technological advancements created in DIY furniture products increased the demand among customers. The increase in product offerings boosts the growth of the market. Moreover, factors like the emergence of e-commerce platforms and wide usage of online shopping platforms expanded the development of the market.
DIY Furniture Market Trends
Digital Transformation and Technology Adoption Drive the Market
The rapid growth in digital transformation and the adoption of advanced technologies boost the development of the e-commerce DIY furniture market. Integrating tools such as augmented reality (AR), virtual reality (VR), and 3D visualization enhanced the online shopping experience of DIY furniture. With these technologies, customers can virtually visualize how the furniture will look when it is fit before purchasing.
Integrating BNPL services provides convenience to customers and creates a user-friendly experience for them. Mobile commerce and the facility of more accessible payment options are significant drivers in the growth of the e-commerce DIY furniture market.
Asia-Pacific is the Fastest Growing Market
The rising demand for personalized and unique furniture increased the demand for DIY furniture in Asia-Pacific. Customers are looking for furniture that reflects individual styles and meets specific requirements. The market offers opportunities for industry participants in the Asia-Pacific region to increase revenue and foster customer loyalty. Technological advancements and sustainability initiatives taken by manufacturers increase the growth of the DIY furniture market in the Asia-Pacific region. Factors like the expansion of e-commerce platforms and online customization tools enhance the development of the DIY furniture market in the Asia-Pacific region.
DIY Furniture Industry Overview
The DIY furniture market is competitive. This market includes many established companies and independent artisans. The small market players strive to enter the market by offering customized and specialized products. Online platforms are essential in connecting DIY furniture producers with customers to showcase a wide range of products. The major players are Wipro Furniture, Global Upholstery, Herman Miller, Steelcase, and Ikea.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
"Do-It-Yourself" became popular due to its cost-effectiveness and customer satisfaction while creating and customizing furniture. Factors like the increasing trend of sustainable living, interest in creative hobbies, and the growing online platforms that provide tutorials and inspiration drive the market's growth. The market offers opportunities for industrial players to capitalize on the growing trends, such as sustainability and online platforms.
Consumers' rise in disposable income increases their purchasing power and spend more on luxury, comfort, and lifestyle products. The changing spending behavior of consumers and the rise in purchasing power increases the demand for DIY furniture. The rising trend of home renovation supports the growth of the market. As the home renovation trend increases, people desire to have outdoor gardens and galleries at home, buy outdoor DIY furniture, and enhance market growth. Increased growth in urbanization and globalization led to an increase in the standard of living, another factor in developing the DIY furniture market.
The technological advancements created in DIY furniture products increased the demand among customers. The increase in product offerings boosts the growth of the market. Moreover, factors like the emergence of e-commerce platforms and wide usage of online shopping platforms expanded the development of the market.
DIY Furniture Market Trends
Digital Transformation and Technology Adoption Drive the Market
The rapid growth in digital transformation and the adoption of advanced technologies boost the development of the e-commerce DIY furniture market. Integrating tools such as augmented reality (AR), virtual reality (VR), and 3D visualization enhanced the online shopping experience of DIY furniture. With these technologies, customers can virtually visualize how the furniture will look when it is fit before purchasing.
Integrating BNPL services provides convenience to customers and creates a user-friendly experience for them. Mobile commerce and the facility of more accessible payment options are significant drivers in the growth of the e-commerce DIY furniture market.
Asia-Pacific is the Fastest Growing Market
The rising demand for personalized and unique furniture increased the demand for DIY furniture in Asia-Pacific. Customers are looking for furniture that reflects individual styles and meets specific requirements. The market offers opportunities for industry participants in the Asia-Pacific region to increase revenue and foster customer loyalty. Technological advancements and sustainability initiatives taken by manufacturers increase the growth of the DIY furniture market in the Asia-Pacific region. Factors like the expansion of e-commerce platforms and online customization tools enhance the development of the DIY furniture market in the Asia-Pacific region.
DIY Furniture Industry Overview
The DIY furniture market is competitive. This market includes many established companies and independent artisans. The small market players strive to enter the market by offering customized and specialized products. Online platforms are essential in connecting DIY furniture producers with customers to showcase a wide range of products. The major players are Wipro Furniture, Global Upholstery, Herman Miller, Steelcase, and Ikea.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 DIY Furniture Encourages Creativity and Innovation Drives the Market
4.3 Market Restraints
4.3.1 DIY Furniture Projects Require Certain Level of Expertise and Experience
4.4 Market Opportunities
4.4.1 The Increasing Focus on Sustainable Living Promote DIY Furniture Markets to Adopt Eco-friendly Practices
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Metal
5.1.2 Wood
5.1.3 Plastic
5.1.4 Glass
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Asia-Pacific Region
5.4.2.1 India
5.4.2.2 China
5.4.2.3 Japan
5.4.2.4 Australia
5.4.2.5 Rest of Asia-Pacific Region
5.4.3 South America
5.4.3.1 Brazil
5.4.3.2 Argentina
5.4.3.3 Rest of South America
5.4.4 Europe
5.4.4.1 United Kingdom
5.4.4.2 Germany
5.4.4.3 Italy
5.4.4.4 Rest of Europe
5.4.5 Middle East & Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Global Upholstery
6.2.2 Herman Miller
6.2.3 Steelcase
6.2.4 Ikea
6.2.5 Wipro Furniture
6.2.6 Godrej & Boyce
6.2.7 Williams-Sonoma
6.2.8 Creative Wood
6.2.9 Kinnarps
6.2.10 Kokuyo*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 DIY Furniture Encourages Creativity and Innovation Drives the Market
4.3 Market Restraints
4.3.1 DIY Furniture Projects Require Certain Level of Expertise and Experience
4.4 Market Opportunities
4.4.1 The Increasing Focus on Sustainable Living Promote DIY Furniture Markets to Adopt Eco-friendly Practices
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Metal
5.1.2 Wood
5.1.3 Plastic
5.1.4 Glass
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Asia-Pacific Region
5.4.2.1 India
5.4.2.2 China
5.4.2.3 Japan
5.4.2.4 Australia
5.4.2.5 Rest of Asia-Pacific Region
5.4.3 South America
5.4.3.1 Brazil
5.4.3.2 Argentina
5.4.3.3 Rest of South America
5.4.4 Europe
5.4.4.1 United Kingdom
5.4.4.2 Germany
5.4.4.3 Italy
5.4.4.4 Rest of Europe
5.4.5 Middle East & Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Global Upholstery
6.2.2 Herman Miller
6.2.3 Steelcase
6.2.4 Ikea
6.2.5 Wipro Furniture
6.2.6 Godrej & Boyce
6.2.7 Williams-Sonoma
6.2.8 Creative Wood
6.2.9 Kinnarps
6.2.10 Kokuyo*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
