The home office furniture market size has grown strongly in recent years. It will grow from $31.58 billion in 2023 to $34.37 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The expansion observed in the historical period can be attributed to factors such as the growth in emerging markets, increased e-commerce activities, expansion in the home remodeling sector, heightened demand for eco-friendly furniture, the rise in adoption of remote work or work from home practices, global population growth, and the impact of the COVID-19 pandemic.
The home office furniture market size is expected to see strong growth in the next few years. It will grow to $47.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to factors such as the increasing demand for office spaces, growth in the construction industry, the rise of freelancing, and ongoing urbanization trends. Key trends expected in the forecast period include a shift towards using natural materials in furniture production to reduce carbon footprints, an increase in merger and acquisition deals to broaden product and service portfolios, a focus on developing innovative products and solutions to remain relevant and foster growth, a commitment to sustainable and eco-friendly materials in furniture design, the development of smart furniture products to expand product portfolios, a focus on universal fixture systems using 3D printed parts to simplify adjustments between product changeovers, and the provision of portable home office furniture for increased mobility and convenience.
The growth of the home office furniture market is expected to be fueled by the increasing demand for office spaces. The heightened demand for products and services from expanding businesses necessitates additional office spaces to accommodate new employees. In a study conducted by Airwallex in October 2022 on 500 UK-based small and medium-sized enterprises (SMEs), it was found that 70% of businesses plan to expand into foreign markets in 2023. This expansion strategy translates to an increased need for office spaces, subsequently driving the growth of the home office furniture market.
The surge in freelancing is anticipated to drive the growth of the home office furniture market. Freelancers, seeking independence and flexibility in their work, contribute to the growing need for home offices and, consequently, the demand for home office furniture. According to Upwork's 2022 Freelance Forward survey, 39% of the US workforce, equivalent to 60 million Americans, engaged in freelance work, reflecting a rise from the previous year. This shift in work preferences has led to an increased demand for home office setups, acting as a driving force for the home office furniture market.
A key trend in the home office furniture market is the introduction of 3D modeling and technological innovations. Technologies such as 3D modeling, virtual reality, and augmented reality are being integrated into various processes in the furniture industry, from planning and prototyping to marketing and sales. For instance, Studio Oberhauser introduced Chair No. 1, a 3D-printed chair utilizing advanced concrete powder bed printing technology. This trend underscores the impact of technology on furniture aesthetics and digital inventories, catering to evolving customer needs.
Companies in the home office furniture market are focusing on the development of smart furniture products to enhance their product portfolios. Smart furniture incorporates technology to extend functionality, offering features such as USB charging, touchscreens, speakers, and motion-activated capabilities. Sevenaire launched the Saturn Bluetooth Speaker Table, a multi-functional table with built-in Bluetooth speakers, power bank, and wireless charging. This illustrates the integration of technology into furniture design to provide innovative and practical solutions, contributing to the market's growth.
In April 2021, Herman Miller, Inc., a leading US-based furniture company, announced the acquisition of Knoll Inc. for $1.8 billion. This strategic move combines the strengths of both companies in offering a diverse range of furniture products for office, home, and educational settings. The acquisition further emphasizes the dynamic landscape of the home office furniture market and the industry's efforts to adapt to changing demands.
Major companies operating in the home office furniture market report are HNI Corporation, Ashley Furniture Industries Inc., Steelcase Inc., MillerKnoll Inc., KOKUYO Furniture, Haworth Inc., OKAMURA Corporation, Godrej & Boyce Mfg. Co. Ltd., Ethan Allen Interiors Inc., Bernhardt Furniture Company Inc., Ntuple Furniture Co. Ltd., Bazhou Dowell Furniture Co. Ltd., Zhejiang Haoqiang Furniture Co. Ltd., Ceoffice Concepts, Epic Office Furniture, Khan & Co Furniture, Godrej Interio, Aspect Furniture Pty Ltd., Kokuyo Co. Ltd., BFX Furniture, Zeitraum, Dauphin HumanDesign Group, Dare Studio Ltd., Bisley Staverton Ltd., Elite Office Furniture UK Limited, Rosehill Furnishings, Ligne Roset, Gautier, Meble Vox Akimo Mebel, Art-Mat Meble, Des Sofa Line Sp. Z O.O., Felix, Slavonic Furniture Company, Chairry Contract Furniture Askia Furniture Brw, The Nowy Styl Group, Forte, Szynaka, Wojcik, Geometry Furniture, Alfa Vega, Unik Design SRL, Ralph Lauren Home, Knoll Inc., Bassett Furniture Industries, Inter Ikea Systems BV, Kimball International Inc., Ronbow, Kaemark, Manoir Llc, Berkshire Hathaway, Ashley HomeStores, Deeram Custom Furniture, Lil Angels Furniture Inc., Interoffice Argentina S.R.L., IKEA Chile, Boke Furniture, Merint Furniture Factory LLC, Intermetal Limited, Habitat Furniture Co. Ltd., Tajheezat, AlMukmal Furniture, National Furniture Manufacturing Co. Ltd., Marwan Services, Abu Torab Furniture, Al Maarifa Furniture Industry, Etalco International, Al Huzaifa Furniture, Steinhoff Manufacturing Ltd., Motani Lounge Ltd., Cantoni Lounge Pty Ltd., Cre8ive Interiors, DECOLAM (South Africa), Ausken International, Alno Associate Ltd., Karo Manufacturing (Pty) Ltd., Lifemate Group, Poltrona Frau.
North America was the largest region in the home office furniture market in 2023. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the home office furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the home office furniture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary product categories within the home office furniture market include seating, storage units, desks and tables, and other miscellaneous items. Storage units, such as shelves and cabinets, are designed to fit well in home offices, providing space to store office files. Materials used in manufacturing home office furniture include wood, metal, plastic, and others. Prices for home office furniture vary across premium, mid-range, and economic segments. These products are distributed through various channels, including flagship stores, specialty stores, online platforms, and others.
The home office furniture market research report is one of a series of new reports that provides home office furniture market statistics, including home office furniture industry global market size, regional shares, competitors with a home office furniture market share, detailed home office furniture market segments, market trends and opportunities, and any further data you may need to thrive in the home office furniture industry. This home office furniture 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 home office furniture market consists of sales of linear and corner workstations, reception desks, chairs, polyvinyl chloride, glass, and elastic polymers. 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 office furniture market size is expected to see strong growth in the next few years. It will grow to $47.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to factors such as the increasing demand for office spaces, growth in the construction industry, the rise of freelancing, and ongoing urbanization trends. Key trends expected in the forecast period include a shift towards using natural materials in furniture production to reduce carbon footprints, an increase in merger and acquisition deals to broaden product and service portfolios, a focus on developing innovative products and solutions to remain relevant and foster growth, a commitment to sustainable and eco-friendly materials in furniture design, the development of smart furniture products to expand product portfolios, a focus on universal fixture systems using 3D printed parts to simplify adjustments between product changeovers, and the provision of portable home office furniture for increased mobility and convenience.
The growth of the home office furniture market is expected to be fueled by the increasing demand for office spaces. The heightened demand for products and services from expanding businesses necessitates additional office spaces to accommodate new employees. In a study conducted by Airwallex in October 2022 on 500 UK-based small and medium-sized enterprises (SMEs), it was found that 70% of businesses plan to expand into foreign markets in 2023. This expansion strategy translates to an increased need for office spaces, subsequently driving the growth of the home office furniture market.
The surge in freelancing is anticipated to drive the growth of the home office furniture market. Freelancers, seeking independence and flexibility in their work, contribute to the growing need for home offices and, consequently, the demand for home office furniture. According to Upwork's 2022 Freelance Forward survey, 39% of the US workforce, equivalent to 60 million Americans, engaged in freelance work, reflecting a rise from the previous year. This shift in work preferences has led to an increased demand for home office setups, acting as a driving force for the home office furniture market.
A key trend in the home office furniture market is the introduction of 3D modeling and technological innovations. Technologies such as 3D modeling, virtual reality, and augmented reality are being integrated into various processes in the furniture industry, from planning and prototyping to marketing and sales. For instance, Studio Oberhauser introduced Chair No. 1, a 3D-printed chair utilizing advanced concrete powder bed printing technology. This trend underscores the impact of technology on furniture aesthetics and digital inventories, catering to evolving customer needs.
Companies in the home office furniture market are focusing on the development of smart furniture products to enhance their product portfolios. Smart furniture incorporates technology to extend functionality, offering features such as USB charging, touchscreens, speakers, and motion-activated capabilities. Sevenaire launched the Saturn Bluetooth Speaker Table, a multi-functional table with built-in Bluetooth speakers, power bank, and wireless charging. This illustrates the integration of technology into furniture design to provide innovative and practical solutions, contributing to the market's growth.
In April 2021, Herman Miller, Inc., a leading US-based furniture company, announced the acquisition of Knoll Inc. for $1.8 billion. This strategic move combines the strengths of both companies in offering a diverse range of furniture products for office, home, and educational settings. The acquisition further emphasizes the dynamic landscape of the home office furniture market and the industry's efforts to adapt to changing demands.
Major companies operating in the home office furniture market report are HNI Corporation, Ashley Furniture Industries Inc., Steelcase Inc., MillerKnoll Inc., KOKUYO Furniture, Haworth Inc., OKAMURA Corporation, Godrej & Boyce Mfg. Co. Ltd., Ethan Allen Interiors Inc., Bernhardt Furniture Company Inc., Ntuple Furniture Co. Ltd., Bazhou Dowell Furniture Co. Ltd., Zhejiang Haoqiang Furniture Co. Ltd., Ceoffice Concepts, Epic Office Furniture, Khan & Co Furniture, Godrej Interio, Aspect Furniture Pty Ltd., Kokuyo Co. Ltd., BFX Furniture, Zeitraum, Dauphin HumanDesign Group, Dare Studio Ltd., Bisley Staverton Ltd., Elite Office Furniture UK Limited, Rosehill Furnishings, Ligne Roset, Gautier, Meble Vox Akimo Mebel, Art-Mat Meble, Des Sofa Line Sp. Z O.O., Felix, Slavonic Furniture Company, Chairry Contract Furniture Askia Furniture Brw, The Nowy Styl Group, Forte, Szynaka, Wojcik, Geometry Furniture, Alfa Vega, Unik Design SRL, Ralph Lauren Home, Knoll Inc., Bassett Furniture Industries, Inter Ikea Systems BV, Kimball International Inc., Ronbow, Kaemark, Manoir Llc, Berkshire Hathaway, Ashley HomeStores, Deeram Custom Furniture, Lil Angels Furniture Inc., Interoffice Argentina S.R.L., IKEA Chile, Boke Furniture, Merint Furniture Factory LLC, Intermetal Limited, Habitat Furniture Co. Ltd., Tajheezat, AlMukmal Furniture, National Furniture Manufacturing Co. Ltd., Marwan Services, Abu Torab Furniture, Al Maarifa Furniture Industry, Etalco International, Al Huzaifa Furniture, Steinhoff Manufacturing Ltd., Motani Lounge Ltd., Cantoni Lounge Pty Ltd., Cre8ive Interiors, DECOLAM (South Africa), Ausken International, Alno Associate Ltd., Karo Manufacturing (Pty) Ltd., Lifemate Group, Poltrona Frau.
North America was the largest region in the home office furniture market in 2023. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the home office furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the home office furniture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary product categories within the home office furniture market include seating, storage units, desks and tables, and other miscellaneous items. Storage units, such as shelves and cabinets, are designed to fit well in home offices, providing space to store office files. Materials used in manufacturing home office furniture include wood, metal, plastic, and others. Prices for home office furniture vary across premium, mid-range, and economic segments. These products are distributed through various channels, including flagship stores, specialty stores, online platforms, and others.
The home office furniture market research report is one of a series of new reports that provides home office furniture market statistics, including home office furniture industry global market size, regional shares, competitors with a home office furniture market share, detailed home office furniture market segments, market trends and opportunities, and any further data you may need to thrive in the home office furniture industry. This home office furniture 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 home office furniture market consists of sales of linear and corner workstations, reception desks, chairs, polyvinyl chloride, glass, and elastic polymers. 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 Office Furniture Market Characteristics3. Home Office Furniture Market Trends and Strategies32. Global Home Office Furniture Market Competitive Benchmarking33. Global Home Office Furniture Market Competitive Dashboard34. Key Mergers and Acquisitions in the Home Office Furniture Market
4. Home Office Furniture Market - Macro Economic Scenario
5. Global Home Office Furniture Market Size and Growth
6. Home Office Furniture Market Segmentation
7. Home Office Furniture Market Regional and Country Analysis
8. Asia-Pacific Home Office Furniture Market
9. China Home Office Furniture Market
10. India Home Office Furniture Market
11. Japan Home Office Furniture Market
12. Australia Home Office Furniture Market
13. Indonesia Home Office Furniture Market
14. South Korea Home Office Furniture Market
15. Western Europe Home Office Furniture Market
16. UK Home Office Furniture Market
17. Germany Home Office Furniture Market
18. France Home Office Furniture Market
19. Italy Home Office Furniture Market
20. Spain Home Office Furniture Market
21. Eastern Europe Home Office Furniture Market
22. Russia Home Office Furniture Market
23. North America Home Office Furniture Market
24. USA Home Office Furniture Market
25. Canada Home Office Furniture Market
26. South America Home Office Furniture Market
27. Brazil Home Office Furniture Market
28. Middle East Home Office Furniture Market
29. Africa Home Office Furniture Market
30. Home Office Furniture Market Competitive Landscape and Company Profiles
31. Home Office Furniture Market Other Major and Innovative Companies
35. Home Office Furniture Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Home Office Furniture 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 office furniture 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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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- 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.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for home office furniture? 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.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product: Seating; Storage Units; Desks and Tables; Other Products
2) By Material: Wood; Metal; Plastic; Other Materials
3) By Price: Premium; Mid-Range; Economic
4) By Distribution Channel: Flagship Stores; Specialty Stores; Online; Other Distribution Channels
Key Companies Mentioned: HNI Corporation; Ashley Furniture Industries Inc; Steelcase Inc; MillerKnoll Inc; KOKUYO Furniture
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
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 Segmentation: 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:
- HNI Corporation
- Ashley Furniture Industries Inc
- Steelcase Inc
- MillerKnoll Inc
- KOKUYO Furniture
- Haworth Inc
- OKAMURA Corporation
- Godrej & Boyce Mfg. Co. Ltd.
- Ethan Allen Interiors Inc.
- Bernhardt Furniture Company Inc
- Ntuple Furniture Co. Ltd.
- Bazhou Dowell Furniture Co. Ltd.
- Zhejiang Haoqiang Furniture Co. Ltd.
- Ceoffice Concepts
- Epic Office Furniture
- Khan & Co Furniture
- Godrej Interio
- Aspect Furniture Pty Ltd.
- Kokuyo Co. Ltd
- BFX Furniture
- Zeitraum
- Dauphin HumanDesign Group
- Dare Studio Ltd.
- Bisley Staverton Ltd.
- Elite Office Furniture UK Limited
- Rosehill Furnishings
- Ligne Roset
- Gautier
- Meble Vox Akimo Mebel
- Art-Mat Meble
- Des Sofa Line Sp. Z O.O.
- Felix
- Slavonic Furniture Company
- Chairry Contract Furniture Askia Furniture Brw
- The Nowy Styl Group
- Forte
- Szynaka
- Wojcik
- Geometry Furniture
- Alfa Vega
- Unik Design SRL
- Ralph Lauren Home
- Knoll Inc.
- Bassett Furniture Industries
- Inter Ikea Systems BV
- Kimball International Inc.
- Ronbow
- Kaemark
- Manoir Llc
- Berkshire Hathaway
- Ashley HomeStores
- Deeram Custom Furniture
- Lil Angels Furniture Inc
- Interoffice Argentina S.R.L.
- IKEA Chile
- Boke Furniture
- Merint Furniture Factory LLC
- Intermetal Limited
- Habitat Furniture Co. Ltd
- Tajheezat
- AlMukmal Furniture
- National Furniture Manufacturing Co. Ltd.
- Marwan Services
- Abu Torab Furniture
- Al Maarifa Furniture Industry
- Etalco International
- Al Huzaifa Furniture
- Steinhoff Manufacturing Ltd.
- Motani Lounge Ltd
- Cantoni Lounge Pty Ltd
- Cre8ive Interiors
- DECOLAM (South Africa)
- Ausken International
- Alno Associate Ltd
- Karo Manufacturing (Pty) Ltd
- Lifemate Group
- Poltrona Frau.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 34.37 Billion |
Forecasted Market Value ( USD | $ 47.57 Billion |
Compound Annual Growth Rate | 8.5% |
Regions Covered | Global |