Home Office Furniture Market Update 2024 : Projected To Exhibit USD 7.6 Billion Revenue By 2030, Claims AMR

(MENAFN- EIN Presswire) The global home office furniture market size is expected to reach $7,615.2 million by 2030 at a CAGR of 8.8% from 2021 to 2030.

Home Office Furniture Market- By product type, the plastic segment is estimated to witness the fastest growth, registering a CAGR of 10.1% during the forecast period. ” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, September 20, 2024 /EINPresswire / -- Home office furniture are objects used to support various human activities such as seating, reading, writing, and others. They are also used to hold and position an object at certain required height either to store things or for aesthetic appeal. Furniture designs can be modified through machine-based processes and handcrafting. Furniture manufacturing involves highly skilled and creative professionals. The global home office furniture market size is expected to reach $7,615.2 million by 2030 at a CAGR of 8.8% from 2021 to 2030.

The home office furniture market is driven by emerging new species of wood tree for furniture manufacturing and marketing through internet. Furthermore, the home office furniture market is driven by various factors such as rise in disposable incomes, growth of real estate, growth of SMEs (small and medium-sized enterprises), and increase in demand for luxury and premium furniture from certain consumer sections.

On the basis of material type, the wood segment exhibited a market share of around 48.4% in 2020, as the wood and laminates (made of wood) are the most desirable material for making home office furniture due to its durability, recyclability, and strength. However, the plastic segment is anticipated to be the fastest-growing segment due to its features such as lightweight, corrosion resistance, durability, and strength.

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The key players profiled in this report include
Haworth, Inc.
Inter IKEA Systems BV
Steelcase, Inc.
Masco Corporation
HNI Corporation
L & J.G. STICKLEY, Inc.
Kimball International, Inc.
Okamura Corporation
Basset Furniture Industries
Durham Furniture, Inc.

Key findings of the study
The home office furniture market size was valued at $3,032.6 million in 2020, and is estimated to reach $7,615.2 million by 2030, growing at a CAGR of 8.8% during the forecast period.
By product type, the plastic segment is estimated to witness the fastest growth, registering a CAGR of 10.1% during the forecast period.
In 2020, depending on material type, the wood segment was valued at $1,469.3 million, accounting for 48.4% of the home office furniture market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $691.2 million by 2030, growing at a CAGR of 8.3% during the forecast period.

Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging market trends and opportunities in the home office furniture market.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate prevailing market opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.

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By distribution channel, the specialty stores segment was the prominent segment, owing to high popularity and wide scale penetration of specialty stores in leading home office furniture markets such as North America and Europe. The specialty stores segment is followed by supermarkets & hypermarkets and e-commerce segments. Wide scale adoption of internet, online shopping platforms, and changes in consumer buying behavior due to COVID-19 is expected to boost the e-commerce segment. Moreover, the e-commerce segment is anticipated to be the fastest-growing distribution channel during the forecast period, owing to growth in popularity and developing infrastructure of e-commerce channels globally.

The players operating in the global home office furniture market
Haworth, Inc.
Inter IKEA Systems BV
Steelcase, Inc.
Masco Corporation
HNI Corporation
L & J.G. Stickley, Inc.
Kimball International, Inc.
Okamura Corporation
Basset Furniture Industries
Durham Furniture, Inc.

Explore AMR's Extensive ongoing Coverage on Consumer and Goods Domain
Furniture Market
North America Furniture Market
Asia-Pacific Luxury Furniture Market

David Correa
Allied Market Research
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