Wooden Household Furniture Global Market Report 2024

The wooden household furniture market size has grown steadily in recent years. It will grow from $163.61 billion in 2023 to $171.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed during the historical period can be attributed to factors such as population growth, changes in consumer lifestyles, economic conditions, disposable income levels, demographic factors, and the impact of globalization and trade.

The wooden household furniture market size is expected to see steady growth in the next few years. It will grow to $203.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The anticipated growth in the forecast period can be attributed to factors such as sustainable and eco-friendly design, the growth of e-commerce, trends in customization and personalization, urbanization leading to smaller living spaces, and consumer preferences for natural materials. Major trends expected in the forecast period include the development of compact and space-saving solutions, the adoption of innovative joinery techniques, the use of digital visualization tools, mixed material combinations, a focus on wellness-centric designs, and the influence of global design trends.

The growth of the wooden household furniture market is anticipated to be fueled by the increasing demand from the residential sector. As the global population rises and urbanization continues, there is a surge in the construction of residential buildings and homes, consequently driving the demand for furniture. Wooden household furniture, known for its durability, versatility, and aesthetic appeal, remains a popular choice among homeowners. For example, in October 2023, the United States Census Bureau reported that the seasonally adjusted yearly basis for privately owned housing units approved by building permits in February was 1,524,000, marking a 13.8% increase from the corrected January rate of 1,339,000. This underscores the escalating demand from the residential sector, propelling the growth of the wooden household furniture market.

The growth of the wooden household furniture market is also expected to be propelled by the increasing use of wood. As a natural material derived from tree roots, stems, and branches, wood plays a crucial role in crafting household furniture, allowing for experimentation with innovative forms, structures, distinctive grain patterns, and colors. For instance, in December 2022, the Natural Resources Institute reported a 9% rise in total round wood use in Finland for 2021, reaching 85.2 million cubic meters. Additionally, the use of by-products and other wood waste saw a 17% increase, totaling 27.7 million cubic meters. This emphasizes the growing utilization of wood, contributing to the growth of the wooden household furniture market.

A key trend gaining traction in the wooden household furniture market is product innovation, particularly in response to increasing environmental concerns. Customers are increasingly seeking wooden furniture crafted through ecologically friendly production techniques and sustainably sourced materials. Major companies in the market are focusing on developing sustainable and eco-friendly wooden furniture. For example, in January 2022, Silk & Snow, a Canada-based bedding company, introduced a sustainable furniture line for bedrooms, handcrafted using organic and non-toxic ingredients and employing a tool-free Japanese joinery method.

Major companies in the wooden household furniture market are prioritizing product innovation to gain a competitive edge. Notably, Banana Republic, a US-based clothing, accessories, and furniture company, launched BR Home in September 2023. BR Home offers a collection of home furniture, including bedroom, living room, and dining room furniture, along with lighting and home décor. This collection emphasizes quality craftsmanship and materials, providing customers with timeless design and versatile styling options, available both online and in stores.

In August 2021, Trademark Global LLC., a US-based company offering a diverse range of high-quality, branded, and licensed products to leading online retailers, acquired Bolton Furniture Inc. This strategic acquisition aims to enhance Trademark Global Inc.'s services by leveraging Bolton's unique supplier network and research and development resources. Bolton Furniture Inc. is a US-based home furniture company.

Major companies operating in the wooden household furniture market report are Inter IKEA Systems B.V., Godrej & Boyce Mfg. Co. Ltd., Herman Miller Inc., Steelcase Inc., HNI Corporation, Okamura Corp., Durian Industries Limited, Spacewood Furnishers Pvt. Ltd., Greenply Industries Limited, Haworth Inc., Knoll Inc., Kimball International Inc., Ashley Furniture Industries Inc., NITORI Co. Ltd., Dalian Huafeng Furniture Group Co. Ltd., Dorel Industries Inc., Sauder Woodworking Company, Suofeiya Home Collection Co. Ltd, La-Z-Boy Inc., Hooker Furnishings Corporation, Natuzzi Group, Kinnarps AB, Klaussner Furniture Industries Inc., Samson Holding Ltd., Man Wah Holdings Limited, American Woodmark Corporation, Bassett Furniture Industries Inc., Bernhardt Furniture Company, Brown Jordan International Inc., Century Furniture LLC.

Asia-Pacific was the largest region in the wooden household furniture market in 2023. The regions covered in the wooden household furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wooden household furniture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main products within the category of wooden household furniture include chairs, tables, cabinets, and others. Chairs are seats designed for one person, typically featuring four legs for support, a backrest, and often armrests. Various types of wood are used in furniture production, including hardwood and softwood, which can consist of materials such as plywood, laminates, medium-density fiberboard (MDF), and others. These products are distributed through both online and offline channels for use in residential and commercial applications.

The wooden household furniture market research report is one of a series of new reports that provides wooden household furniture market statistics, including wooden household furniture industry global market size, regional shares, competitors with wooden household furniture market share, detailed wooden household furniture market segments, market trends, and opportunities, and any further data you may need to thrive in the wooden household furniture industry. This wooden household furniture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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