Fluctuating labor costs and raw material prices for manufacturers remain considerable challenges.
The global market for home furniture is expected to grow by $ 95.7 billion from 2024 to 2028, which is due to an increase in online sales and the increasing demand for tailor -made furniture.
According to a report by Technavio, the market is expected to be expanded by an annual growth rate of 4.72% during this period.
The most important market segments include living room, dining room, bedroom and kitchen furniture with special shops and online individual trading shops that run the sector.
The growth of the housing market also contributes to an increase in furniture issue. Trends such as environmentally friendly furniture, including formaldehyde-free sofa sets and recycled textiles, are still gaining traction.
In addition, the furniture and intelligent furniture and intelligent furniture, including ergonomic chairs and gaming tables, rise on the rise. Multi-purpose and portable furniture as well as the integration of smart sensing technology shape consumer preferences.
Adaptation is an outstanding trend on the home furniture market, with consumers being increasingly looking for personalized furniture solutions. Industry leaders like Ikea and Ethan Allen react to this demand by offering customizable fabric and design options.
However, the industry is pending competition from non -organized market participants, which can affect market stability.
The pricing for house furniture products is influenced by several factors, including the cost of manufacturing, workers and raw materials. Fluctuations in prices for important raw materials such as steel, wood and plastic have a direct impact on both the furniture costs and the profit margins of the manufacturers.