The home furnishings and floor coverings market size has grown strongly in recent years. It will grow from $125.86 billion in 2023 to $134.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The expansion observed in the historical period can be credited to various factors, including shifts in the housing market, changes in consumer lifestyles, economic conditions, and demographic transformations.
The home furnishings and floor coverings market size is expected to see strong growth in the next few years. It will grow to $174.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be linked to several key factors, notably the rise of e-commerce and digitalization, increased integration of smart home technologies, a growing focus on health and wellness, and the impact of trends emerging from the hospitality and commercial sectors. Major trends expected in this period encompass sustainability and eco-friendliness, solutions that are multi-functional and space-saving, a heightened emphasis on personalization and customization, and advancements in materials used within the industry.
The rising preference for online shopping is projected to significantly contribute to the growth of the home furnishing and floor coverings market. Manufacturers now have the opportunity to expand their product sales on a broader platform compared to previous avenues, thereby expanding their customer base across various geographical locations. This expansion is expected to drive growth within the home furnishing and floor coverings manufacturing market. For example, in countries like India, e-commerce platforms have notably amplified sales for home furnishing and floor coverings by providing broader exposure to producers who were previously limited to specific geographical regions.
These categories mainly encompass household furniture, which includes all movable and compact items used for home furnishing purposes, such as chairs, tables, sofas, mattresses, and more. These products are available across a spectrum of pricing, spanning from mass-market to premium segments, and are retailed through supermarkets, hypermarkets, specialty stores, e-commerce platforms, and various distribution channels. Their diverse applications range from household use to commercial settings.
The home furnishings and floor coverings market research report is one of a series of new reports that provides home furnishings and floor coverings market statistics, including home furnishings and floor coverings industry global market size, regional shares, competitors with a home furnishings and floor coverings market share, detailed home furnishings and floor coverings market segments, market trends and opportunities, and any further data you may need to thrive in the home furnishings and floor coverings industry. This home furnishings and floor coverings 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 increase in residential construction and renovation undertakings is a key driver behind the growing demand in the home furnishing and floor coverings market. Floor covering is a comprehensive term used to describe any finishing material applied over a floor structure to create a functional walking surface. Within construction activities, floor coverings and home furnishing materials play a crucial role in enhancing safety, durability, and the aesthetic appeal of the constructed site. For instance, as of April 2023, there's an expected 5.9% rise in construction deliveries in the US, reflecting a 5% increase in construction activities overall. Consequently, the surge in residential construction and renovation endeavors is anticipated to further fuel the demand for products within the home furnishing and floor coverings market.
The COVID-19 outbreak significantly restrained the home furnishings and floor coverings manufacturing market in 2022. Trade restrictions led to disrupted supply chains, while government-imposed lockdowns globally caused a decline in consumption. COVID-19, identified in 2019 in Wuhan, China, spread worldwide, affecting regions like Western Europe, North America, and Asia. National efforts to control transmission halted manufacturing activities, leading to an economic downturn as countries implemented lockdowns. The outbreak negatively impacted businesses throughout 2021 and into 2021. However, it's anticipated that the home furnishings and floor coverings manufacturing market will gradually recover throughout the forecast period. This downturn resulted from an unforeseen 'black swan' event, rather than stemming from inherent weaknesses within the market or the global economy.
Manufacturers within the home furnishings and floor coverings sector are increasingly embracing digital printing technology as a means to reduce operational expenses. This innovative technology significantly reduces the time required for the sampling process and minimizes water consumption. Moreover, it's acknowledged as an environmentally sustainable alternative to traditional methods within the home furnishings and floor coverings industry. Notable companies such as Epson, Bordeaux Digital PrintInk, and Fratelli Robustelli S.r.l. are among those offering digital printing technologies. According to a Textile World magazine report, approximately 870 million square meters of fabric, valued at $1.29 billion, were printed using digital printing methods. This approach facilitates shorter lead times, allows for customized home decorations, enhances design aesthetics, and contributes to cost reduction within the industry.
Leading companies in the home furnishings and floor coverings market are introducing new wood flooring options to diversify their product offerings. Wood floors are recognized as a favorable choice for durable flooring solutions. For example, in April 2023, Bjelin, an innovative Swedish family-owned flooring company, unveiled an updated line of resilient wood floors. This new line, called the hardened wood 3.0 floor range, showcases improved colors, formats, and cutting-edge technologies. The enhancements include upgraded designs, a brushed lacquered surface, and a new lacquer with an enhanced classification for use.
Major companies operating in the home furnishings and floor coverings market include Mohawk Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Tarkett SA, Masco Corporation, Beaulieu International Group, Gerflor SAS, Interfaceflor LLC, TOLI Corporation, Balta Group NV, MillerKnoll Inc., Steelcase Inc., La-Z-Boy Inc., Leggett & Platt Incorporated, Tempur Sealy International Inc., Ethan Allen Interiors Inc., HNI Corporation, Shaw Industries Group Inc., Newell Brands Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., Panasonic Corporation, Electrolux AB, Miele & Cie KG, Dyson Ltd., iRobot Corporation, Hunter Fan Company, Casper Sleep Inc., Purple Innovation Inc., Tuft & Needle LLC, Saatva Inc., Amerisleep LLC, Leesa Sleep LLC, Avocado Green Brands.
Asia-Pacific was the largest region in the home furnishings and floor coverings market in 2023. North America was the second largest region in the home furnishings and floor coverings market. The regions covered in the home furnishings and floor coverings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the home furnishings and floor coverings market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The home furnishings and floor coverings market consists of sales of cork tile, asphalt tile, and printed felt base. 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.
This product will be delivered within 3-5 business days.
The home furnishings and floor coverings market size is expected to see strong growth in the next few years. It will grow to $174.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be linked to several key factors, notably the rise of e-commerce and digitalization, increased integration of smart home technologies, a growing focus on health and wellness, and the impact of trends emerging from the hospitality and commercial sectors. Major trends expected in this period encompass sustainability and eco-friendliness, solutions that are multi-functional and space-saving, a heightened emphasis on personalization and customization, and advancements in materials used within the industry.
The rising preference for online shopping is projected to significantly contribute to the growth of the home furnishing and floor coverings market. Manufacturers now have the opportunity to expand their product sales on a broader platform compared to previous avenues, thereby expanding their customer base across various geographical locations. This expansion is expected to drive growth within the home furnishing and floor coverings manufacturing market. For example, in countries like India, e-commerce platforms have notably amplified sales for home furnishing and floor coverings by providing broader exposure to producers who were previously limited to specific geographical regions.
These categories mainly encompass household furniture, which includes all movable and compact items used for home furnishing purposes, such as chairs, tables, sofas, mattresses, and more. These products are available across a spectrum of pricing, spanning from mass-market to premium segments, and are retailed through supermarkets, hypermarkets, specialty stores, e-commerce platforms, and various distribution channels. Their diverse applications range from household use to commercial settings.
The home furnishings and floor coverings market research report is one of a series of new reports that provides home furnishings and floor coverings market statistics, including home furnishings and floor coverings industry global market size, regional shares, competitors with a home furnishings and floor coverings market share, detailed home furnishings and floor coverings market segments, market trends and opportunities, and any further data you may need to thrive in the home furnishings and floor coverings industry. This home furnishings and floor coverings 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 increase in residential construction and renovation undertakings is a key driver behind the growing demand in the home furnishing and floor coverings market. Floor covering is a comprehensive term used to describe any finishing material applied over a floor structure to create a functional walking surface. Within construction activities, floor coverings and home furnishing materials play a crucial role in enhancing safety, durability, and the aesthetic appeal of the constructed site. For instance, as of April 2023, there's an expected 5.9% rise in construction deliveries in the US, reflecting a 5% increase in construction activities overall. Consequently, the surge in residential construction and renovation endeavors is anticipated to further fuel the demand for products within the home furnishing and floor coverings market.
The COVID-19 outbreak significantly restrained the home furnishings and floor coverings manufacturing market in 2022. Trade restrictions led to disrupted supply chains, while government-imposed lockdowns globally caused a decline in consumption. COVID-19, identified in 2019 in Wuhan, China, spread worldwide, affecting regions like Western Europe, North America, and Asia. National efforts to control transmission halted manufacturing activities, leading to an economic downturn as countries implemented lockdowns. The outbreak negatively impacted businesses throughout 2021 and into 2021. However, it's anticipated that the home furnishings and floor coverings manufacturing market will gradually recover throughout the forecast period. This downturn resulted from an unforeseen 'black swan' event, rather than stemming from inherent weaknesses within the market or the global economy.
Manufacturers within the home furnishings and floor coverings sector are increasingly embracing digital printing technology as a means to reduce operational expenses. This innovative technology significantly reduces the time required for the sampling process and minimizes water consumption. Moreover, it's acknowledged as an environmentally sustainable alternative to traditional methods within the home furnishings and floor coverings industry. Notable companies such as Epson, Bordeaux Digital PrintInk, and Fratelli Robustelli S.r.l. are among those offering digital printing technologies. According to a Textile World magazine report, approximately 870 million square meters of fabric, valued at $1.29 billion, were printed using digital printing methods. This approach facilitates shorter lead times, allows for customized home decorations, enhances design aesthetics, and contributes to cost reduction within the industry.
Leading companies in the home furnishings and floor coverings market are introducing new wood flooring options to diversify their product offerings. Wood floors are recognized as a favorable choice for durable flooring solutions. For example, in April 2023, Bjelin, an innovative Swedish family-owned flooring company, unveiled an updated line of resilient wood floors. This new line, called the hardened wood 3.0 floor range, showcases improved colors, formats, and cutting-edge technologies. The enhancements include upgraded designs, a brushed lacquered surface, and a new lacquer with an enhanced classification for use.
Major companies operating in the home furnishings and floor coverings market include Mohawk Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Tarkett SA, Masco Corporation, Beaulieu International Group, Gerflor SAS, Interfaceflor LLC, TOLI Corporation, Balta Group NV, MillerKnoll Inc., Steelcase Inc., La-Z-Boy Inc., Leggett & Platt Incorporated, Tempur Sealy International Inc., Ethan Allen Interiors Inc., HNI Corporation, Shaw Industries Group Inc., Newell Brands Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., Panasonic Corporation, Electrolux AB, Miele & Cie KG, Dyson Ltd., iRobot Corporation, Hunter Fan Company, Casper Sleep Inc., Purple Innovation Inc., Tuft & Needle LLC, Saatva Inc., Amerisleep LLC, Leesa Sleep LLC, Avocado Green Brands.
Asia-Pacific was the largest region in the home furnishings and floor coverings market in 2023. North America was the second largest region in the home furnishings and floor coverings market. The regions covered in the home furnishings and floor coverings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the home furnishings and floor coverings market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The home furnishings and floor coverings market consists of sales of cork tile, asphalt tile, and printed felt base. 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Home Furnishings And Floor Coverings Market Characteristics4. Home Furnishings And Floor Coverings Market Trends And Strategies68. Global Home Furnishings And Floor Coverings Market Competitive Benchmarking69. Global Home Furnishings And Floor Coverings Market Competitive Dashboard70. Key Mergers And Acquisitions In The Home Furnishings And Floor Coverings Market
3. Home Furnishings And Floor Coverings Product/Service Analysis -Product/Service Examples
5. Home Furnishings And Floor Coverings Market - Macro Economic Scenario
6. Global Home Furnishings And Floor Coverings Market Size and Growth
7. Home Furnishings And Floor Coverings Market Segmentation
8. Home Furnishings And Floor Coverings Market Regional And Country Analysis
9. Asia-Pacific Home Furnishings And Floor Coverings Market
10. China Home Furnishings And Floor Coverings Market
11. India Home Furnishings And Floor Coverings Market
12. Japan Home Furnishings And Floor Coverings Market
13. Australia Home Furnishings And Floor Coverings Market
14. Indonesia Home Furnishings And Floor Coverings Market
15. South Korea Home Furnishings And Floor Coverings Market
16. Bangladesh Home Furnishings And Floor Coverings Market
17. Thailand Home Furnishings And Floor Coverings Market
18. Vietnam Home Furnishings And Floor Coverings Market
19. Malaysia Home Furnishings And Floor Coverings Market
20. Singapore Home Furnishings And Floor Coverings Market
21. Philippines Home Furnishings And Floor Coverings Market
22. Hong kong Home Furnishings And Floor Coverings Market
23. New Zealand Home Furnishings And Floor Coverings Market
24. Western Europe Home Furnishings And Floor Coverings Market
25. UK Home Furnishings And Floor Coverings Market
26. Germany Home Furnishings And Floor Coverings Market
27. France Home Furnishings And Floor Coverings Market
28. Italy Home Furnishings And Floor Coverings Market
29. Spain Home Furnishings And Floor Coverings Market
30. Austria Home Furnishings And Floor Coverings Market
31. Belgium Home Furnishings And Floor Coverings Market
32. Denmark Home Furnishings And Floor Coverings Market
33. Finland Home Furnishings And Floor Coverings Market
34. Ireland Home Furnishings And Floor Coverings Market
35. Netherlands Home Furnishings And Floor Coverings Market
36. Norway Home Furnishings And Floor Coverings Market
37. Portugal Home Furnishings And Floor Coverings Market
38. Sweden Home Furnishings And Floor Coverings Market
39. Switzerland Home Furnishings And Floor Coverings Market
40. Eastern Europe Home Furnishings And Floor Coverings Market
41. Russia Home Furnishings And Floor Coverings Market
42. Czech Republic Home Furnishings And Floor Coverings Market
43. Poland Home Furnishings And Floor Coverings Market
44. Romania Home Furnishings And Floor Coverings Market
45. Ukraine Home Furnishings And Floor Coverings Market
46. North America Home Furnishings And Floor Coverings Market
47. USA Home Furnishings And Floor Coverings Market
48. Canada Home Furnishings And Floor Coverings Market
49. Mexico Home Furnishings And Floor Coverings Market
50. South America Home Furnishings And Floor Coverings Market
51. Brazil Home Furnishings And Floor Coverings Market
52. Chile Home Furnishings And Floor Coverings Market
53. Argentina Home Furnishings And Floor Coverings Market
54. Colombia Home Furnishings And Floor Coverings Market
55. Peru Home Furnishings And Floor Coverings Market
56. Middle East Home Furnishings And Floor Coverings Market
57. Saudi Arabia Home Furnishings And Floor Coverings Market
58. Israel Home Furnishings And Floor Coverings Market
59. Iran Home Furnishings And Floor Coverings Market
60. Turkey Home Furnishings And Floor Coverings Market
61. United Arab Emirates Home Furnishings And Floor Coverings Market
62. Africa Home Furnishings And Floor Coverings Market
63. Egypt Home Furnishings And Floor Coverings Market
64. Nigeria Home Furnishings And Floor Coverings Market
65. South Africa Home Furnishings And Floor Coverings Market
66. Home Furnishings And Floor Coverings Market Competitive Landscape And Company Profiles
71. Home Furnishings And Floor Coverings Market Future Outlook and Potential Analysis
72. Appendix
Executive Summary
Home Furnishings And Floor Coverings Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on home furnishings and floor coverings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for home furnishings and floor coverings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
- Markets Covered: 1) By Type: Home Furnishings; Floor Coverings; 2) By Price Point: Mass; Premium; 3) By Distribution Channel: Supermarkets and Hypermarkets; Specialty Stores; E-commerce; Other Distribution Channels
- Subsegments Covered: Curtains; Bed Spreads; Towels-Home Furnishings; Other Home Furnishings; Carpets And Rugs; Mats
- Companies Mentioned: Mohawk Industries Inc.; Ashley Furniture Industries Inc.; Berkshire Hathaway Inc.; Tarkett SA; Masco Corporation
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Mohawk Industries Inc.
- Ashley Furniture Industries Inc.
- Berkshire Hathaway Inc.
- Tarkett SA
- Masco Corporation
- Beaulieu International Group
- Gerflor SAS
- Interfaceflor LLC
- TOLI Corporation
- Balta Group NV
- MillerKnoll Inc.
- Steelcase Inc.
- La-Z-Boy Inc.
- Leggett & Platt Incorporated
- Tempur Sealy International Inc.
- Ethan Allen Interiors Inc.
- HNI Corporation
- Shaw Industries Group Inc.
- Newell Brands Inc.
- LG Electronics Inc.
- Samsung Electronics Co. Ltd.
- Panasonic Corporation
- Electrolux AB
- Miele & Cie KG
- Dyson Ltd.
- iRobot Corporation
- Hunter Fan Company
- Casper Sleep Inc.
- Purple Innovation Inc.
- Tuft & Needle LLC
- Saatva Inc.
- Amerisleep LLC
- Leesa Sleep LLC
- Avocado Green Brands
Methodology
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