3rd Quarter 2023

Furniture Market Update

Furniture 2
Capital Advisors

  • The rapid expansion of the real estate sector, growing popularity of eco-friendly furniture and lifestyle changes are driving growth in the U.S. furniture industry.
  • The market is dominated by the residential furniture segment, which accounts for 65% of total U.S. furniture sales. Living room furniture is the most popular category, followed by bedroom and kitchen furniture.
  • While rising costs of capital are depressing housing starts, the residential market in North America is forecasted to grow in the long run due to projected increases in home renovations. Furthermore, companies investing in pre-furnished offices for hybrid workplace environments are driving growth in commercial furniture.

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