Furniture, Furnishings & Household Items

The furniture and household items industry has been heavily impacted by the global coronavirus pandemic of 2020. For many parts of the industry the pandemic has been a boon.

When lockdowns and stay-at-home orders were instated in March, many companies had their employees transition to a home office environment. This move required millions of people to set up an office space for themselves for the first time and purchase the necessities to do so. Restrictions in movement and leisure activities also meant that those DIY projects people had been putting off suddenly became one of the few things people could invest their time into. The beginning of the pandemic also set off a wave of panic buying and hoarding of essential household items. It was not uncommon to see such basics as toilet paper and paper towels out of stock.

High-end furniture and housewares market value
42 billion EUR
Ready-to-assemble furniture market size
13.8 billion USD
Outdoor furniture market value
17 billion USD

Market size

Impressive growth in the furniture market
Value of the furniture market worldwide from 2020 to 2027 (in billion U.S. dollars)
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By 2027, the global furniture market is expected to reach 650 billion U.S. dollars in value, up from just over 500 billion dollars in 2020, representing a growth of 28 percent over the period.

This forecast takes into account the impact of the COVID-19 pandemic on the industry. As a result of lockdowns and stay-at-home orders many companies have shifted at least partially to a work from home model, necessitating the purchase of new furniture for millions of people around the globe.

Global furniture market
Household products
Home appliances

Market segments

Ready-to-assemble furniture market keeps building
Size of the ready-to-assemble (RTA) furniture market worldwide from 2018 to 2025 (in billion U.S. dollars)
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The global ready-to-assemble furniture market is expected to reach over 18 billion dollars in value by 2025, up from 12.32 billion dollars in 2018, representing an increase of 50 percent over the period.

Ready-to-assemble furniture is perhaps most well known because of IKEA. The brand's furniture has become the go-to for many apartment dwellers and home owners due to the cost saved and the ease of transport by assembling furniture one's self.

Ready-to-assemble furniture
Office furniture in the U.S.

Industry trends

An up and down year for brick-and-mortar furniture retailers
Monthly retail sales of furniture and home furnishing stores in the United States from 2017 to 2020 (in million U.S. dollars)
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For furniture retailers, much like the rest of the retail world, 2020 has been a tumultuous year. Compared to the same time in 2019, sales at furniture retailers dipped sharply during the months of March through May. When the coronavirus pandemic began many consumers were afraid to shop in person and retailers in some places were forced to close.

Sales picked up again in June as infection rates dipped and fatigue set in among a population growing weary of sheltering at home.

Office furniture
Furniture e-commerce

Industry leaders

Ashley Furniture leads the furniture industry
Sales of the leading furniture stores in the United States in 2019 (in million U.S. dollars)
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Ashley HomeStore, the consumer facing side of the Ashley Furniture Industries company, was the leading furniture retailer in the United States in 2019, in terms of sales. The stores generated sales of nearly five billion U.S. dollars in that year. Swedish retailer IKEA came in second with sales of 3.3 billion dollars.

Ashley HomeStores sell both furniture of its own brand as well as that of third-party manufacturers.


Industry definition

Furniture, furnishings, and household items comprise everything that is purchased to support either the functioning or aesthetics of a home or business. In essence, this includes everything from a table and chairs to batteries and paper towels. The industry includes both manufacturers that sell their goods to retailers, manufacturers which exclusively sell their own products in their own stores, and manufactures that do both.

Furniture can be further segmented into home furniture and office furniture and then further categorized according to their role. One of the most recognizable brands serving both consumers and business is ready-to-assemble furniture maker IKEA. Household items is a broad category with many segmentations ranging from cookware and flatware, appliances, decorative accessories, to consumer staples like office supplies, and household maintenance products.

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