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The upholstered furniture market size is forecast to increase by USD 16.8 billion, at a CAGR of 4.89% between 2023 and 2028. Market growth is influenced by several key factors: the expanding influence of diverse retailing channels, increasing consumer preference for premium furniture, and rising demand for multi-functional upholstered furniture. As retailing channels diversify and expand their reach, consumers have more avenues to explore and purchase furniture, driving market accessibility and competition. The growing inclination towards premium furniture underscores a shift towards higher quality and design aesthetics, reflecting consumer aspirations for durable and stylish home furnishings. Additionally, the rising popularity of multi-functional upholstered furniture addresses practical living space needs, appealing to consumers seeking versatile solutions that optimize functionality without compromising on comfort or style. These trends collectively shape the furniture market landscape, encouraging innovation in product design, material technologies, and retail strategies. Stakeholders across the furniture manufacturing, retail, and design sectors are well-positioned to capitalize on these evolving consumer preferences, contributing to sustained market growth and adaptation in a competitive industry environment.
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The market encompasses a wide range of seating and sleeping furniture, including chairs, sofas, tables, beds, and various other pieces like ottomans and headboards. This home decor market caters to both residential and commercial sectors, with online retail and offline retail channels. Lifestyle trends and the real estate sector significantly influence the demand for upholstered furniture. Comfort and aesthetics are crucial factors driving the market, with an emphasis on tactile appeal and visual attractiveness. Fabrics and materials play a significant role in upholstered furniture production. Common materials include leather, microfiber, velvet, linen, and wool. Reclining chairs and sofas are popular choices for those seeking comfort and relaxation. Upholstery techniques, such as tufting and quilting, add to the furniture pieces' visual appeal and interior design styles. Functional needs, like ergonomic design and adjustable features, are increasingly important in the upholstered furniture market. Padded surfaces and cushioned surfaces provide comfort and support, making upholstered furniture a staple in modern interiors. Overall, the upholstered furniture market continues to grow, offering a diverse range of products that cater to various functional and aesthetic preferences.
The growing influence of different retailing channels is notably driving market growth. The global upholstered furniture market is witnessing significant growth due to the increasing popularity of retailing channels, both online and offline. Offline retailers, including traditional stores, manufacturer-branded outlets, discount stores, rental shops, warehouse clubs, and designer boutiques, have emerged as major distributors of upholstered furniture. The expansion of these organized retailers is primarily driven by global industrialization.
Additionally, the rise of e-commerce and online retailing has significantly impacted the market, with many leading players launching dedicated furniture-specialist online stores or planning to establish new e-commerce platforms. This trend is attributed to the increasing internet penetration worldwide. Thus, such factors are driving the growth of the market during the forecast period.
Rapid emergence of eco-friendly and organic upholstered furniture is the key trend in the market. The global upholstered furniture market has witnessed a significant trend towards eco-friendly products in recent years. This shift is driven by increasing environmental concerns, particularly regarding deforestation and toxic furniture finishes. In response, numerous vendors in the market have started producing eco-friendly upholstered furniture using green technology. Sustainable raw materials, such as biodegradable wood and bamboo, are increasingly being used in the manufacturing process.
Further, north American hardwood is a popular eco-friendly option for producing organic upholstered furniture. Bamboo, as an alternative to conventional wood, is also gaining popularity due to its eco-friendly properties. These developments reflect the growing importance of sustainability in the upholstered furniture industry. Thus, such trends will shape the growth of the market during the forecast period.
Fluctuating labor costs and raw material prices is the major challenge that affects the growth of the market. The upholstered furniture market is influenced by various cost factors that impact the pricing of products. These elements include manufacturing expenses, labor costs, and raw material prices. Raw material costs, in particular, have a significant impact on the final price of upholstered furniture or the profit margins of manufacturers. The manufacturing process involves the use of various materials such as steel, iron, plastic, wood, glass, electric equipment, and paints. The prices of these raw materials are subject to change and can fluctuate based on international market trends.
Additionally, labor costs also play a crucial role in determining the manufacturing cost of upholstered furniture. Armrests are an essential component of upholstered furniture, and their production adds to the overall manufacturing cost.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. Offline retail remains a significant distribution channel for upholstered furniture, with sales taking place through various outlets such as specialty furniture stores, department stores, discount stores, hypermarkets, supermarkets, warehouse clubs, manufacturer-branded stores, and designer stores. The tangible experience offered by offline retail is a major draw for consumers, enabling them to touch and feel the furniture before making a purchase. The fabric industry plays a crucial role in the upholstered furniture market, with various fabric options and padding materials available. Grey shades, beige shades, and cream shades are popular choices for upholstery due to their timeless appeal.
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The offline segment accounted for USD 39.40 billion in 2018. Skilled labor is essential for the application of these fabrics and materials, ensuring the production of high-quality interior furnishings. Upholstered furniture is a significant investment for both residential and commercial spaces, with comfort and durability being key considerations. The real estate sector and the hospitality industry are major consumers of upholstered furniture, with a focus on creating inviting and functional spaces. Online retail is also gaining popularity in the upholstered furniture market, offering convenience and a wider selection of options for consumers. However, the offline distribution channel remains the preferred means for vendors, manufacturers, and distributors due to the tactile experience it offers.
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APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Upholstered furniture plays a significant role in enhancing the comfort and aesthetic appeal of various interior spaces, including personal homes, flats, business settings, offices, and hospitality businesses. The market for upholstered furniture continues to evolve, reflecting modern trends and consumer lifestyles. Padding and cushioning are essential components, ensuring practicality and beauty in equal measure. Synthetic substitutes, such as recycled foam and performance fabrics, offer water-resistant and stain-resistant properties, making them suitable for families with children and pets. Colors, patterns, and textures add fashionable furniture solutions to living environments.
Further, customization choices, including modular designs and multipurpose elements, cater to contemporary living spaces. Sustainable furniture, crafted from renewable materials and eco-friendly materials like organic cotton, is increasingly popular due to environmental issues. Production techniques, such as easy cleaning and performance fabrics, contribute to the functionality and longevity of upholstered furniture. Accessories, such as pillows, further enhance personalization possibilities. Overall, upholstered furniture offers a blend of practicality, beauty, and customization, adapting to various consumer needs and preferences.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Upholstered furniture refers to seats and other types of furniture with padded fabric coverings. This market includes a wide range of products such as chairs, sofas, tables, beds, and more. The upholstered furniture market caters to both residential and commercial sectors. In the residential sector, upholstered furniture finds its place in homes, adding comfort and aesthetics to living spaces. In the commercial sector, it is used in office spaces, hotels, restaurants, and other commercial spaces. Lifestyle trends play a significant role in the upholstered furniture market. Modernization and the need for comfort have led to an increase in demand for contemporary designs. Grey shades, beige shades, and cream shades are popular color choices for upholstered furniture. Skilled labor and various fabric applications are used to create comfortable and visually appealing pieces. Padding materials and upholstery materials are essential components of upholstered furniture.
Further, comfort and tactile appeal are key considerations in the selection of these materials. Fabric options include leather, velvet, linen, and microfiber, among others. Dining chairs, couches, lounges, traditional 3-piece suites, armchairs, love seats, and recliners are popular types of upholstered furniture. The fabric industry plays a crucial role in the production of upholstered furniture. Online retail and offline retail channels are used to sell upholstered furniture to consumers. In recent years, the real estate sector has also shown significant growth in the upholstered furniture market. Overall, the upholstered furniture market is driven by the need for comfort, aesthetics, and modernization in various sectors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
131 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.89% |
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Market growth 2024-2028 |
USD 16.8 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.65 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 49% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ashley Global Retail LLC, Bassett Furniture Industries Inc., Century Furniture LLC, Craftmaster Furniture Inc., DELTA furnishers, DFS, Ekornes Ltd., Flexsteel Industries Inc., Hooker Furniture Corp., Hughes Furniture Industries Inc., Inter IKEA Holding B.V., Intermountain Furniture Manufacturing, LaZBoy Inc., Lee Industries, Mayo Manufacturing Corp., Norwalk Custom Order Furniture LLC, Palliser Furniture Ltd., Rowe Fine Furniture Inc., Sherrill Furniture, and ShowroomSoftware |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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