Furniture market worldwide - Statistics & Facts

Furniture retail and trade is an important part of the global economy. The furniture industry is comprised of the production, distribution, and retail of furniture for residential and commercial use. Be it in homes, offices, schools, or even outdoors, there are pieces of furniture to be seen almost everywhere. This market also includes complementary products such as, mattresses and home furnishings. The global furniture market is a multi-billion U.S. dollar industry, which employs large numbers of people around the world. The United States is the largest furniture market in the world, however the APAC region is growing in size and importance, accounting for three of the top five leading markets in 2018.

As part of the fast moving consumer goods (FMCG) sector, the furniture market tends to rise and fall based on world economic trends. During a recession, the industry tends to be negatively impacted as consumers cut back on non-essential spending, putting off home redecoration and renovation projects due to lower disposable incomes. The import and export of furniture is also impacted by such events, however trade values have been growing steadily in recent years. China is the dominant exporter of furniture and the United States leads for imports.

There are a number of sub-markets within this sector. Office furniture, a market encompassing the furnishing and interior of office spaces, is one such example. Desks, chairs, cabinets, and lamps can help to create an optimal working environment, where workers feel comfortable and can be at their most productive. Ready-to-assemble (RTA) furniture is another distinct market. Such furniture comes flat-packed and are assembled on site. IKEA is an example of a RTA furniture retailer.

As of 2019, IKEA was the seventh most valuable retailer in the world, making it the most valuable furniture retail brand, valued at almost 19 billion U.S. dollars. The business operates 433 stores around the world. IKEA caters for all the key categories of the home or residential furniture market such as living room, dining room, bedroom, kitchen, and outdoor furniture.

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Furniture market worldwide

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International trade

Key figures of furniture retail

IKEA

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