Global Home Furnishings market was valued at 728485.93 million USD in 2016 and is expected to reach 988182.19 million USD by the end of 2022, growing at a CAGR of 5.21% between 2016 and 2022. Currently, there are thousands of producers in the world Home Furnishings industry, especially in Asia.
Home Furnishing refers to anything that is used to furnish a home, including both furniture and things used to decorate the home and make it more hospitable.
The market can be segmented into several broad groups: Home Furniture, Home Textile, Wall Decor and Others. Home Furniture was the biggest market share while Wall Décor was the fastest growing sector in recent years.
Europe is one of the largest consumption regions of Home Furnishing in the world in the past few years and it will keep increasing in the next few years. Europe market took up about 31.6% of the global market share in 2016, while North America took up about 25.4%, and China was followed with the share about 17.2%.
Global Home Furnishings market is very fragmented, Bed Bath & Beyond, Home Depot, IKEA, Lowes, Target, Wal-Mart, Art.com, etc. are well-known retailers around the world. Top 5 suppliers took up about 9.90% of the global market in 2016.
Home Furnishings are classically distributed in two distinct channels: the department store and the mass market channel. The retail chain is the major distribution partner for Home Furnishing manufacturer, as the majority of sales are from retail outlets. The current shift in the retail industry from a more traditional unorganized retail format to organized retail has accelerated the growth of the retail industry.
