The global home office furniture market size was valued at $3,032.6 million in 2020, and is estimated to reach $7,615.2 million by 2030, registering a CAGR of 8.8% from 2021 to 2030.
Home office furniture includes all the furniture products essential to set up an office or office like environment at home. This furniture is used for seating, installing computer systems, and storing files & documents. It is commonly used by the employees, students, professionals, and entrepreneurs for the purpose of reading, writing, operating desktops/laptops, attending online meetings and lectures, and storing files.
Home office furniture products are manufactured using a variety of materials and are available in different designs. The designs can be modified through machine-based processes and handcrafting. Furniture manufacturing involves highly skilled and creative professionals. The home office furniture caters to the corporate and government employees, students, and professionals. The home office furniture market has witnessed rapid growth in recent years, in line with the growth in the global economy and subsequent demand for work from home. The demand for versatile and multi-functional products that offer portability and can easily be accommodated in small spaces drive the home office furniture market growth. Furthermore, rise in number of nuclear families is increasing the demand for portable and space-saving products. This factor is anticipated to drive the demand for the market growth in the forthcoming years.
The market is driven by various factors such as rise in disposable incomes, growth of real estate industry, growth of small and medium sized enterprises (SMEs), and demand for luxury and premium furniture from certain consumer sections. Moreover, the growing popularity of hybrid working culture and growth of ed-tech platforms further boost the growth of the global home office furniture market in the past few years.
The outbreak of COVID-19 disease, in December 2019, resulted in rapid growth in demand for the home office furniture. The government announced complete shut down across the globe to contain the spread of the virus. The government norms on social distancing and ban on travelling forced the corporate sector, government sector, and educational institutes to adopt ”stay at home” and “work from home” policy to continue their business operations. Under such circumstances, the global home office furniture market witnessed a rapid growth in demand from all over the globe.
In Asia-Pacific, many key players in home office furniture market are launching their own online platform and are entering into partnerships with the e-commerce retail stores to strengthen their distribution network, which is anticipated to drive the growth of the Asia-Pacific home office furniture market. In North America, leading home office furniture brands are focusing on personalization in product offering, which is gaining popularity among the various consumer groups.
The growing penetration of furniture rental businesses such as Fabrento, CORT, and Brook Furniture Rental is likely to hamper the revenue of the home office furniture manufacturers. Especially in Asia-Pacific market, where the maximum population falls under low- and medium-income group. The consumers many a times opt for furniture rental services to save the huge costs associated with the acquisition of brand-new furniture.
The global home office furniture market is segmented on the basis of product type, material type, price range, distribution channel, and region. Based on product type, it is classified into seating, tables, storage units & file cabinets, and others. Depending on material type, the home office furniture market is segmented into wood, metal, and plastic. On the basis of price range, it is classified into low, medium, and high. The distribution channel comprises supermarkets & hypermarkets, specialty stores, e-commerce, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the home office furniture market forecast, on the basis of product type, the tables and seating segments were the highest contributor to the market, accounting for 82% of the market share in 2020, because the seating and tables are the most essential and basic furniture needed to set up an office at home.
On the basis of material type, the wood segment exhibited a market share of around 48.4% in 2020, as the wood and laminates (made of wood) are the most desirable material for making home office furniture due to its durability, recyclability, and strength. However, the plastic segment is anticipated to be the fastest-growing segment due to its features such as lightweight, corrosion resistance, durability, and strength.
As per the home office furniture market trends, depending on price range, the medium segment dominated the market and accounted for $1,320.9 million in 2020 as the consumers get quality product with best features at a reasonable price. The high segment is expected to be the fastest growing segment due to the growing demand for luxurious and high-quality home office furniture in the developed markets.
According to the global home office furniture market analysis, in 2020, Europe dominated the market, garnering around 37.5% of the total home office furniture market share, followed by North America. North America and Europe are characterized by high disposable income and growth of SMEs. However, Asia-Pacific is expected to show promising growth rate due to the growing penetration of start-ups and SMEs, and rapid urbanization.
The players operating in the global home office furniture market have adopted various developmental strategies to expand their market share, exploit the home office furniture market opportunities, and increase profitability in the market. The key players profiled in this report include Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc.
LAMEA
Home office furniture includes all the furniture products essential to set up an office or office like environment at home. This furniture is used for seating, installing computer systems, and storing files & documents. It is commonly used by the employees, students, professionals, and entrepreneurs for the purpose of reading, writing, operating desktops/laptops, attending online meetings and lectures, and storing files.
Home office furniture products are manufactured using a variety of materials and are available in different designs. The designs can be modified through machine-based processes and handcrafting. Furniture manufacturing involves highly skilled and creative professionals. The home office furniture caters to the corporate and government employees, students, and professionals. The home office furniture market has witnessed rapid growth in recent years, in line with the growth in the global economy and subsequent demand for work from home. The demand for versatile and multi-functional products that offer portability and can easily be accommodated in small spaces drive the home office furniture market growth. Furthermore, rise in number of nuclear families is increasing the demand for portable and space-saving products. This factor is anticipated to drive the demand for the market growth in the forthcoming years.
The market is driven by various factors such as rise in disposable incomes, growth of real estate industry, growth of small and medium sized enterprises (SMEs), and demand for luxury and premium furniture from certain consumer sections. Moreover, the growing popularity of hybrid working culture and growth of ed-tech platforms further boost the growth of the global home office furniture market in the past few years.
The outbreak of COVID-19 disease, in December 2019, resulted in rapid growth in demand for the home office furniture. The government announced complete shut down across the globe to contain the spread of the virus. The government norms on social distancing and ban on travelling forced the corporate sector, government sector, and educational institutes to adopt ”stay at home” and “work from home” policy to continue their business operations. Under such circumstances, the global home office furniture market witnessed a rapid growth in demand from all over the globe.
In Asia-Pacific, many key players in home office furniture market are launching their own online platform and are entering into partnerships with the e-commerce retail stores to strengthen their distribution network, which is anticipated to drive the growth of the Asia-Pacific home office furniture market. In North America, leading home office furniture brands are focusing on personalization in product offering, which is gaining popularity among the various consumer groups.
The growing penetration of furniture rental businesses such as Fabrento, CORT, and Brook Furniture Rental is likely to hamper the revenue of the home office furniture manufacturers. Especially in Asia-Pacific market, where the maximum population falls under low- and medium-income group. The consumers many a times opt for furniture rental services to save the huge costs associated with the acquisition of brand-new furniture.
The global home office furniture market is segmented on the basis of product type, material type, price range, distribution channel, and region. Based on product type, it is classified into seating, tables, storage units & file cabinets, and others. Depending on material type, the home office furniture market is segmented into wood, metal, and plastic. On the basis of price range, it is classified into low, medium, and high. The distribution channel comprises supermarkets & hypermarkets, specialty stores, e-commerce, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the home office furniture market forecast, on the basis of product type, the tables and seating segments were the highest contributor to the market, accounting for 82% of the market share in 2020, because the seating and tables are the most essential and basic furniture needed to set up an office at home.
On the basis of material type, the wood segment exhibited a market share of around 48.4% in 2020, as the wood and laminates (made of wood) are the most desirable material for making home office furniture due to its durability, recyclability, and strength. However, the plastic segment is anticipated to be the fastest-growing segment due to its features such as lightweight, corrosion resistance, durability, and strength.
As per the home office furniture market trends, depending on price range, the medium segment dominated the market and accounted for $1,320.9 million in 2020 as the consumers get quality product with best features at a reasonable price. The high segment is expected to be the fastest growing segment due to the growing demand for luxurious and high-quality home office furniture in the developed markets.
By distribution channel, the specialty stores segment was the prominent segment, owing to high popularity and wide scale penetration of specialty stores in leading home office furniture markets such as North America and Europe. The specialty stores segment is followed by supermarkets & hypermarkets and e-commerce segments. Wide scale adoption of internet, online shopping platforms, and changes in consumer buying behavior due to COVID-19 is expected to boost the e-commerce segment. Moreover, the e-commerce segment is anticipated to be the fastest-growing distribution channel during the forecast period, owing to growth in popularity and developing infrastructure of e-commerce channels globally.
According to the global home office furniture market analysis, in 2020, Europe dominated the market, garnering around 37.5% of the total home office furniture market share, followed by North America. North America and Europe are characterized by high disposable income and growth of SMEs. However, Asia-Pacific is expected to show promising growth rate due to the growing penetration of start-ups and SMEs, and rapid urbanization.
The players operating in the global home office furniture market have adopted various developmental strategies to expand their market share, exploit the home office furniture market opportunities, and increase profitability in the market. The key players profiled in this report include Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the home office furniture industry.
1.1. Key market segments
BY Product Type
- Seating
- Tables
- Storage Units & File Cabinets
- Others
By Material Type
- Wood
- Metal
- Plastic
By Price Range
- Low
- Medium
- High
By Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- E-commerce
- Others
By Region
North America- U.S
- Canada
- Mexico
- Germany
- Spain
- UK
- Italy
- France
- Rest of Europe
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of LAMEA
Frequently Asked Questions about the Global Home Office Furniture Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 345 |
| Published | July 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 3032.6 million |
| Forecasted Market Value ( USD | $ 7615.2 million |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL HOME OFFICE FURNITURE MARKET, BY PRODUCT TYPE
CHAPTER 5: GLOBAL HOME OFFICE FURNITURE MARKET, BY MATERIAL TYPE
CHAPTER 6: GLOBAL HOME OFFICE FURNITURE MARKET, BY PRICE RANGE
CHAPTER 7: GLOBAL HOME OFFICE FURNITURE MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: HOME OFFICE FURNITURE MARKET, BY REGION
CHAPTER 9: COMPETITION LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Haworth Inc.
- Inter IKEA Systems BV
- Steelcase Inc.
- Masco Corporation
- HNI Corporation
- L & J.G. STICKLEY Inc.
- Kimball International Inc.
- Okamura Corporation
- Basset Furniture Industries
- Durham Furniture Inc.
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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