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  • Home Office Furniture Market Growth Analysis | 2022-2027

    Home Office Furniture Market Growth Analysis | 2022-2027

    Home Office Furniture Market Growth Analysis | 2022-2027
    Report code - SRCG223 Delivery - 2 Weeks
    Home Office Furniture Market Size, Share, Trends, Forecast, & Growth Analysis &nd See more...

    Market Insights

    The home office furniture market was estimated at USD 3.5 billion in 2021 and is likely to grow at a CAGR of 8.2% during 2022-2027 to reach USD 5.6 billion in 2027.

    Home-Office-Furniture-Market-Insights

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    What is home office furniture?

    Home office furniture is furniture products that are used in residential and commercial spaces by individuals for their personal home offices.

    Home Office Furniture Market Report Highlights

    Market Size in 2021

    USD 3.5 billion

    Market Size in 2027

    USD 5.6 billion

    Market Growth (2022-2027)

    8.2% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2027

    Market Dynamics

    Growing urbanization, rise in entrepreneurship and work-from-home culture, and the development of multi-functional furniture are the prime factors contributing to the demand for the market. The increasing popularity of smart furniture in urban areas is also one of the key factors driving market growth. Home office furniture is mainly inclusive of products such as non-upholstered kitchenware, sofas, tablets, chairs, drawers, and couches, and is manufactured of plastic and wood material. Rising urbanization in both developed and developing countries, along with increasing demand for smart & multipurpose furniture, and increasing residential and commercial spaces is the substantial driving factor of the market across the world.

    Home-Office-Furniture-Market-Dynamics

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    Segments' Analysis

    By Distribution Channel Type

    • The market is segmented as flagship stores, specialty stores, online, and others.
    • The online segment was the fastest-growing segment of the market in 2021 and is likely to maintain its dominance over the forecast period.
    • Policies such as secured transactions, cash on options, convenient returns, and integrated and centralized customer service encourage consumers to purchase furniture online, which is driving the growth of the segment during the forecast period.

    By Material Type

    Based on material type, the market is segmented as Wood, Metal, Plastic, Glass, and Others. The wood segment is estimated to grow with the highest CAGR during the forecast period.

    Regional Analysis

    • North America is estimated to be the largest market during 2022-27, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities.
    • The growth of the region’s market is mainly driven by the rising trend of working from home in the USA.
    • A majority of employers are giving facilities to their employees to work remotely, which in turn, is fueling the demand for home offices.
    • People are also involving themselves in other entrepreneurial activities which leads to the high demand for home offices to greet their own personal clients in a safe and confined space.
    • This new trend is also a key factor determining the growth of the market in the region.
    • Europe and Asia-Pacific are also likely to offer promising growth opportunities during the forecast period.

    Home-Office-Furniture-Market-Regional-Analysis

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Product Type

    • Seating
    • Storage Units
    • Desks and Tables
    • Others

    By Material Type

    • Wood 
    • Metal
    • Plastic
    • Glass
    • Others

    By Distribution Channel Type

    • Flagship Stores
    • Specialty Stores
    • Online
    • Others

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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    Key Players

    Some of the major manufacturers are-

    • Ashley Furniture Industries, Inc.
    • Haworth Inc.
    • Herman Miller Inc.
    • HNI Corporation
    • Hooker Furniture Corporation
    • Inter IKEA Holding B.V.
    • Kimball International
    • Knoll Inc.
    • KOKUYO Co. Ltd.
    • Steelcase Inc.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Home Office Furniture Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by distribution channel type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Home office furniture is furniture products that are used in residential and commercial spaces by individuals for their personal home offices.

    The home office furniture market was estimated at USD 3.5 billion in 2021.

    The home office furniture market is likely to reach USD 5.6 billion in 2027.

    The home office furniture market is likely to grow at a CAGR of 8.2% during 2022-2027.

    Ashley Furniture Industries, Inc., Haworth Inc., Herman Miller Inc., HNI Corporation, Hooker Furniture Corporation, Inter IKEA Holding B.V., Kimball International, Knoll Inc., KOKUYO Co. Ltd. Steelcase Inc.

    North America is estimated to be the leading region in this market.

    Growing urbanization, the rise in entrepreneurship and work-from-home culture, and the development of multi-functional furniture, increasing popularity of smart furniture in urban areas.

    The online segment and wood segment are estimated to grow with the highest CAGR during the forecast period.