U.S. Home Furnishings and Bedding Market Size Grows to $183,489.52 Million by 2027, Growing at a CAGR of 3.7%

US home furnishings and bedding market

According to the US Home Furniture and Bedding industry analysis, the US Home Furniture and Bedding market is segmented into product type and sales channel.

Growth in residential home sales and spending on home improvement are the major attributes driving the growth of the US furniture and bedding market over the forecast period.

—Roshan Deshmukh

PORTLAND, OREGON, USA, July 30, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled US Home Furniture and Bedding Market by Product Type (Sofa, Bed, Chair, Cupboard, and Others) and Sales Channel (Online and Offline),: Opportunity Analysis and Industry Forecasts , 2021-2027. The report offers an in-depth analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces Analysis, and competitive landscape.

The US home furnishings and bedding market size is expected to reach USD 183,489.52 million by 2027, registering a CAGR of 3.07% from 2021 to 2027.

Access the full summary: https://www.alliedmarketresearch.com/us-home-furniture-and-bedding-market-A10954

Furniture is the vital part of the house, which provides a practical and aesthetic view to the living room, bedroom and kitchen. The trend of home refurbishment and renovation is gaining momentum in the United States, which is notably contributing to the growth of the market. Additionally, increasing spending on home improvement and decoration is expected to increase the market share of home furniture and bedding in the United States during the forecast period.

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The US home furnishings and bedding market is segmented into product type and sales channel. Based on product type, the market is categorized into sofa, bed, chair, cabinet, and others. By sales channel, it is separated online and offline.

According to an analysis of the US home furniture and bedding market, on the basis of product type, the wardrobe segment was valued at $11,538.66 million in 2019 and is projected to reach $18,807.68 million. by 2027, registering a CAGR of 6.05% from 2021 to 2027. This is attributed to increasing consumer purchasing power, improving lifestyle and launching innovative cabinetry with designs stylish who are expected to increase their demand. Also, increasing preference for smaller houses and apartments due to rising land prices and rents is likely to drive the demand for custom cabinetry.

According to US Home Furniture and Bedding Market Forecast and Trends, on the basis of sales channel, the Online segment is expected to reach $88,662.14 Million by 2027, growing at a CAGR of 3 .06%, due to increased adoption of various online portals for furniture. purchases and the increase in the number of offers or discounts offered by these sites, which attracts a large consumer base to purchase home furnishings through online channels. Additionally, online sales channels have expanded the reach of consumers, whereby they have become a key revenue source for many businesses.

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In addition, the online sales market is expected to grow in the future, due to the rapid adoption of e-commerce platform by consumers and furniture manufacturing and retail enterprises and improvements techniques of online sales platforms such as chatbots, voice assistants, augmented and virtual reality. , blockchain technology and drones and droids. For example, chatbots are new virtual support service drones and droids are next level delivery systems.

However, the increase in the cost of raw materials due to strict laws and conditions imposed by the US government under state forest laws is likely to hamper the growth of the US furniture and bedding market during the forecast period. Forest law relates to all statutes and regulations that deal with the preservation of forests and parks, forest law relates to all statutes and regulations that deal with the preservation of forests and parks, reforestation activities to ensure the sustainability of the nation’s lands and the prevention of illegal forestry activities. These laws come from both federal and state sources. Besides wood as a raw material for furniture, steel, glass, plastic and fiber have gained popularity among people due to the associated advantages such as long durability, more aesthetic and eco-friendly appearance. the environment.

Players operating in the US furniture and bedding industry have adopted product launch and business expansion as key development strategies to grow their market share, increase profitability and stay competitive in the market.

Key market players profiled in the report include:

• Steel case
• HNI Corporation
• Herman Miller
• Sleep Number Society
• La-Z-Boy Inc.
• Tempur Sealy International Inc.
• Serta Simmons LLC Bedding
• Sauder Woodworking Company
• Ashley Furniture Industries
• Hooker Furniture Corporation.

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Main benefits for stakeholders

○ The report provides quantitative analysis of current market trends, estimates and market size dynamics from 2019 to 2027 to identify existing opportunities.
○ Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
○ In-depth analysis and market size and segmentation helps determine the existing market opportunities.
○ Major countries in each region are mapped according to their market revenue contribution.
○ Market player positioning segment facilitates benchmarking and provides a clear understanding of the current position of market players in the US furniture and bedding industry.

Reasons to Buy this US Furniture and Bedding Market Report:

○ Mergers and acquisitions must be well planned by identifying the best manufacturer.
○ Sort potential new customers or partners into the demographic group you are looking for.
○ Suitable for providing reliable, high-quality data and analysis to facilitate your internal and external presentations.
○ Develop tactical initiatives by gaining better control of the areas in which large groups can intervene.
○ Increase and develop business potential and achieve, develop and plan licensing and licensing strategies by finding potential partners with the most attractive projects.
○ Recognize new entrants with potentially strong product portfolios and design effective counter-strategies to gain competitive advantage.
○ To develop effective R&D strategies, gather information, analysis and strategic ideas from competitors.

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Allied Analytics LLP
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