Furniture is the pivotal part of every home, and consumers are increasingly spending on home furniture and bedding not only to enhance comfort but also to aesthetically improve their homes. Surge in nuclear families and rise in millennial population who choose to live in closer area are creating extensive demand for smart and portable furniture such as Murphy bed sofa, sofa bed, and Murphy dining tables. Furthermore, increase in spending on home improvement and rise in demand for plastic material-based furniture are likely to augment the growth of the U.S. home furniture and bedding market during the forecast period. In addition, increase in sale of new and existing residential homes in the U.S. is majorly attributed to increase the demand for home furniture and bedding. For instance, according to the National Association of Home Builders, in the U.S., 6,19,000 new and existing residential homes were sold in 2018 and increased up to 8,22,000 in 2020.
Furthermore, many manufacturers are collaborating with importers, contractors, and interior designers to sell their home furniture and bedding products. Manufacturing companies are providing free assistance of interior designers who help buyers to buy furniture and design their dream home. These factors positively impact the growth of the U.S. home furniture and bedding market. Companies have further opted for e-commerce platforms to sell their products and increase their profit margins by reducing the distribution costs.
The U.S. home furniture and bedding market is segmented into product type and sales channel. On the basis of product type, the market is categorized into sofa, bed, chair, cupboard and others. By sales channel, it is segregated into online and offline.
The players operating in the U.S. home furniture and bedding market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Steelcase, HNI Corporation, Herman Miller, Sleep Number Corporation, La-Z-Boy Inc., Tempur Sealy International, Inc., Serta Simmons Bedding, LLC, Sauder Woodworking Company, Ashley Furniture Industries, and Hooker Furniture Corporation.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the U.S. home furniture and bedding market, with current trends and future estimations to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Key Market Segments
By Product Type
- Sofa
- Bed
- Chair
- Cupboard
- Others
By Sales Channel
- Online
- Offline
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 134 |
Published | April 2021 |
Forecast Period | 2019 - 2027 |
Estimated Market Value ( USD | $ 138187.52 million |
Forecasted Market Value ( USD | $ 183489.52 million |
Compound Annual Growth Rate | 3.6% |
Regions Covered | United States |