Household Furniture And Kitchen Cabinet Global Market Report 2023

Household furniture and kitchen cabinets refer to the built-in furniture found in many kitchens for food storage, cooking equipment, and frequently silverware and dishes for table service. Movable, compactable articles or apparatus, such as chairs, tables, sofas, mattresses, etc., for furnishing a home.

The main types of household furniture and kitchen cabinet are household furniture and kitchen cabinet. Household furniture refers to all mobile, compactable goods or machinery used to furnish a home, such as chairs, tables, sofas, mattresses, and so on. The different types of materials include metal, wood, and others and are distributed through various channels such as online, and offline.

The global household furniture and kitchen cabinet market grew from $352.87 billion in 2022 to $375.25 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The household furniture and kitchen cabinet market is expected to grow to $462.01 billion in 2027 at a CAGR of 5.3%.

The household furniture and kitchen cabinet market research report is one of a series of new reports that provides household furniture and kitchen cabinet market statistics, including household furniture and kitchen cabinet industry global market size, regional shares, competitors with a household furniture and kitchen cabinet market share, detailed household furniture and kitchen cabinet market segments, market trends and opportunities, and any further data you may need to thrive in the household furniture and kitchen cabinet industry. This household furniture and kitchen cabinet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the household furniture and kitchen cabinet manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of '‘lock down'’ and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the household furniture and kitchen cabinet manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy

RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serves the purpose of quick furnishings. The RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer and is available in parts with instructions to assemble the piece of furniture. Already popular in developed countries, RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Some examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases, and RTA filing cabinets. For instance, IKEA, a major ready to assemble manufacturer, has opened stores in India owing to the high demand for ready to assemble furniture.

Asia-Pacific was the largest region in the household furniture and kitchen cabinet market in 2022. Western Europe was the second largest region in the household furniture and kitchen cabinet market. The regions covered in the household furniture and kitchen cabinet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the household furniture and kitchen cabinet market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

Increasing demand for online shopping is expected to help the household furniture and kitchen cabinets market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the furniture manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of household furniture and kitchen cabinet manufacturers by giving larger exposure to producers who were confined to one geography.

The household furniture and kitchen cabinet market consists of sales of hotel furniture, food cabinets, and retail sales.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the household furniture and kitchen cabinet market include Ashley Furniture Industries Inc., Masco Corporation, Man Wah holdings, La-Z-Boy, Hooker Furniture Corp., Leggett & Platt Incorporated, Samson Holding Ltd., Knoll Inc., Ethan Allen Interiors Inc., and Flexsteel Industries Inc.



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