Upholstered Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Upholstered Furniture Market size is estimated at USD 122.59 billion in 2024, and is expected to reach USD 153.49 billion by 2029, growing at a CAGR of 5.78% during the forecast period (2024-2029).
Urbanization and lifestyle trends have opened up a number of growth prospects for the real estate sector, which is set to experience a boom in the years to come. With an expected increase in the number of homes in towns and cities, there will be an increase in the demand for home furnishing, including sofas. The real estate sector has also seen a surge in demand for office space and commercial spaces, such as hotels and restaurants. The Upholstered Furniture industry is expected to grow in the coming years with the modernization of homes and lifestyle trends because of its comfort factor. Upholstery furniture, like dining chairs, sofas, couches, lounges, etc., is widely used in residential and commercial areas. It has a unique character due to its versatility and durability.
Modern and contemporary furniture will dominate the market compared to traditional 3-piece suites. Modular and flexible furniture will give consumers an open living area and space. The fabric industry is undergoing many innovations and developments. There are many reasons why consumers choose to upholster their furniture. Neutral and plain color fabrics are at the top of the list. In the medium term, they are expected to continue to dominate the market in many regions of Europe. Grey shades, beige shades, and cream shades are the most popular shades for upholstery in the market.
Upholstered Furniture Market Trends
Growth in International Trade of Upholstered Furniture Products
The US and the North American markets are open to foreign products, and this is the main driver of the growth of Upholstered furniture. This has been the driving force of international trade for many years. The US market for upholstered fabricated products rapidly expanded after the Great Recession. Chairs and tables are the major imports of the US market for furniture products. After the U.S., Germany is Europe's biggest market for upholstery furniture. Germany is a net exporter, followed by countries such as France, the UK, and Switzerland.
Luxury & comfortable wooden furniture imports and exports are rising, as well as the need for lower capital investment for setting up furniture factories and developing online or e-commerce channels. However, market growth is hindered by a lack of skilled labor and a volatile economic climate.
Asia-Pacific is Dominating the Market, with China Leading the Upholstered Furniture Manufacturing
Asia-Pacific accounted for the highest revenue share of the global upturned furniture market. The region is also the one that is producing the most upturned furniture worldwide. China is one of the leading manufacturers of fabrics used in different types of fabric applications. China is also the largest exporter of upturned furniture around the world. Some of the fastest-growing countries for upturned furniture are China, India, and Indonesia. China has significantly increased upturned furniture production in the last ten years. The region accounts for a higher percentage of the manufacturing of upturned furniture. Europe and North America account for the remaining 38%, while other regions account for marginal proportions.
Upholstered Furniture Industry Overview
The upholstered furniture market is fragmented due to many small- and large-scale manufacturers. Players, such as retailers, are spending heavily on advertising and promotion, as there is massive competition in the market. Digital e-commerce companies are giving intense competition to traditional retail chains. The major players dominating the market are Rowe Furniture, England Furniture, DFS Furniture PLC, Norwalk Furniture, and Lee Industries.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Urbanization and lifestyle trends have opened up a number of growth prospects for the real estate sector, which is set to experience a boom in the years to come. With an expected increase in the number of homes in towns and cities, there will be an increase in the demand for home furnishing, including sofas. The real estate sector has also seen a surge in demand for office space and commercial spaces, such as hotels and restaurants. The Upholstered Furniture industry is expected to grow in the coming years with the modernization of homes and lifestyle trends because of its comfort factor. Upholstery furniture, like dining chairs, sofas, couches, lounges, etc., is widely used in residential and commercial areas. It has a unique character due to its versatility and durability.
Modern and contemporary furniture will dominate the market compared to traditional 3-piece suites. Modular and flexible furniture will give consumers an open living area and space. The fabric industry is undergoing many innovations and developments. There are many reasons why consumers choose to upholster their furniture. Neutral and plain color fabrics are at the top of the list. In the medium term, they are expected to continue to dominate the market in many regions of Europe. Grey shades, beige shades, and cream shades are the most popular shades for upholstery in the market.
Upholstered Furniture Market Trends
Growth in International Trade of Upholstered Furniture Products
The US and the North American markets are open to foreign products, and this is the main driver of the growth of Upholstered furniture. This has been the driving force of international trade for many years. The US market for upholstered fabricated products rapidly expanded after the Great Recession. Chairs and tables are the major imports of the US market for furniture products. After the U.S., Germany is Europe's biggest market for upholstery furniture. Germany is a net exporter, followed by countries such as France, the UK, and Switzerland.
Luxury & comfortable wooden furniture imports and exports are rising, as well as the need for lower capital investment for setting up furniture factories and developing online or e-commerce channels. However, market growth is hindered by a lack of skilled labor and a volatile economic climate.
Asia-Pacific is Dominating the Market, with China Leading the Upholstered Furniture Manufacturing
Asia-Pacific accounted for the highest revenue share of the global upturned furniture market. The region is also the one that is producing the most upturned furniture worldwide. China is one of the leading manufacturers of fabrics used in different types of fabric applications. China is also the largest exporter of upturned furniture around the world. Some of the fastest-growing countries for upturned furniture are China, India, and Indonesia. China has significantly increased upturned furniture production in the last ten years. The region accounts for a higher percentage of the manufacturing of upturned furniture. Europe and North America account for the remaining 38%, while other regions account for marginal proportions.
Upholstered Furniture Industry Overview
The upholstered furniture market is fragmented due to many small- and large-scale manufacturers. Players, such as retailers, are spending heavily on advertising and promotion, as there is massive competition in the market. Digital e-commerce companies are giving intense competition to traditional retail chains. The major players dominating the market are Rowe Furniture, England Furniture, DFS Furniture PLC, Norwalk Furniture, and Lee Industries.
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
4.1 Market Overview
4.2 Market Drivers
4.2.1 An Increase in the Building or Renovating of Homes Frequently Results in a Rise in the Demand for Furniture
4.2.2 Rising Demand for Sustainable and Eco-friendly Varieties
4.3 Market Restraints
4.3.1 High Maintenance Costs
4.3.2 Lack of Affordability
4.4 Market Opportunities
4.4.1 Trends in Customization
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
4.7 Insights on Technological Innovations in the Market
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Chair
5.1.2 Sofas
5.1.3 Tables
5.1.4 Beds
5.1.5 Other Types
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle East & Africa
5.4 Distribution Channel
5.4.1 Online Retail
5.4.2 Offline Retail
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Rowe Furniture
6.2.2 England Furniture
6.2.3 DFS Furniture PLC
6.2.4 Norwalk Furniture
6.2.5 Lee Industries
6.2.6 United Furniture Industries Inc.
6.2.7 Mayo Manufacturing Inc.
6.2.8 Hooker Furniture
6.2.9 Palliser Furniture Upholstery Ltd.
6.2.10 Ashley HomeStores Ltd.
6.2.11 Sherrill Furniture
6.2.12 Other Companies (Lazar, Ekornes ASA, Flexsteel Industries, Inc., Zoy Furniture, and American Furniture Manufacturing)*
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
4.1 Market Overview
4.2 Market Drivers
4.2.1 An Increase in the Building or Renovating of Homes Frequently Results in a Rise in the Demand for Furniture
4.2.2 Rising Demand for Sustainable and Eco-friendly Varieties
4.3 Market Restraints
4.3.1 High Maintenance Costs
4.3.2 Lack of Affordability
4.4 Market Opportunities
4.4.1 Trends in Customization
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
4.7 Insights on Technological Innovations in the Market
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Chair
5.1.2 Sofas
5.1.3 Tables
5.1.4 Beds
5.1.5 Other Types
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle East & Africa
5.4 Distribution Channel
5.4.1 Online Retail
5.4.2 Offline Retail
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Rowe Furniture
6.2.2 England Furniture
6.2.3 DFS Furniture PLC
6.2.4 Norwalk Furniture
6.2.5 Lee Industries
6.2.6 United Furniture Industries Inc.
6.2.7 Mayo Manufacturing Inc.
6.2.8 Hooker Furniture
6.2.9 Palliser Furniture Upholstery Ltd.
6.2.10 Ashley HomeStores Ltd.
6.2.11 Sherrill Furniture
6.2.12 Other Companies (Lazar, Ekornes ASA, Flexsteel Industries, Inc., Zoy Furniture, and American Furniture Manufacturing)*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
