What Is the Size of Furniture Market | Growth & Trends 2031

Q: How big is the furniture market?

The furniture market was estimated at 673 Billion in 2024 and is projected to reach 870 Billion by 2031.

Q: What is the growth rate of the furniture market?

The furniture market is expected to grow at a CAGR of 5.00%from 2025 to 2031.

Q: What drives the furniture market?

Urbanization, demand for smart and modular designs, and rising homeownership fuel growth.

Q: Who are the major players in the furniture market?

Top players of the market include IKEA, Ashley Furniture, Steelcase, Herman Miller, and Wayfair.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA5982

Publication Date: Jul 2025

What is the size of Furniture Market?

According to 6Wresearch internal database and industry insights, the Global Furniture Market was estimated at USD 673 billion in 2024 and is projected to reach USD 870 Billion by 2031, growing at a CAGR of 7.1% during the forecast period 2025â€“2031.

Due to increasing urbanization, rising disposable incomes, and growing demand for modern and multifunctional furniture across residential and commercial sectors, the market is predicted for the strong growth in the coming years.

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Key Growth Drivers of the Furniture Market

Rising urban population and housing development projects
Growing trend of home renovation and interior design
Increasing demand for ergonomic and modular office furniture
Rapid expansion of the hospitality and real estate sectors
E-commerce penetration enabling direct-to-consumer furniture sales

Furniture Market Trends

Furniture market is growing over the years with notable trends such as demand of sustainable and space-saving furniture solutions. This market is seeing rising interest in minimalist, Scandinavian, and customizable designs. At the other side, smart furniture integrated with tech features such as wireless charging and speakers is gaining traction. Further, the recycled and eco-friendly materials like bamboo, reclaimed wood, and biodegradable upholstery are seeing increased use.

Emerging Developments in the Furniture Market

Furniture market is developing with the time as the 3D-printed furniture and AI-driven customization platforms that allow users to create furniture tailored to their spaces and preferences. Also, the manufacturers are exploring the circular economy practices by using recyclable parts and modular designs for easy refurbishing. Subscription-based furniture rental models are growing, especially among urban millennials. Innovations in multi-functional furniture for compact homes are also shaping demand.