Online Furniture Market: 8.00% Y-O-Y Growth Rate in 2022 | Over the Next Five Years, the Market is Expected to be Growing at a Strong 16.79% CAGR

NEW YORK, May 12, 2022 /PRNewswire/ — The Online Furniture Market value is set to grow by USD 112.67 billion, progressing at a CAGR of 16.79% from 2021 to 2026, as per the latest report by Technavio. The market is segmented by Application (Online residential furniture and online commercial furniture) and Geography (APAC, North America, Europe, Middle East and Africa, and South America).

Moreover, the increasing online spending and smartphone penetration is notably driving the market growth, although longer replacement cycle of products may impede the market growth. 

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Regional Forecast & Analysis:

37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the online furniture market in APAC. Market growth in this region will be faster than the growth of the market in other regions. A rise in the real estate sector for both residential and commercial properties will facilitate the online furniture market growth in APAC over the forecast period. 

Segmentation Forecast & Analysis:

The online furniture market share growth by the online-residential furniture segment will be significant during the forecast period. Sales of living room furniture are expected to increase during the forecast period. For instance, Wayfair, a US-based online furniture retailer, offers living room furniture in a wide range of styles and price options and competitive prices, which reduce the need for visiting brick-and-mortar stores. Moreover, innovative styles and designs that occupy very little space and offer comfort are in high demand and will drive the online furniture market growth during the forecast period

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Key Market Dynamics:

  • Market Driver

The increasing online spending and smartphone penetration is one of the key drivers supporting the online furniture market growth. The high penetration of internet services, improved economy, and upgradation of purchase and delivery options with the emergence of m-commerce has increased online shopping through smart devices. Meanwhile, consumers have now become way more comfortable about purchasing products on the go. Moreover, factors such as security features for online payments, free delivery, improved online customer services, and customer-friendly designs of shopping websites are also contributing to the growth of the market. Such flexible features associated with online shopping will drive the online furniture market growth during the forecast period.

  • Market Challenge

The longer replacement cycle of products is one of the challenges impeding the online furniture market growth. Most residential indoor and outdoor furnishings, especially furniture, are meant for long-term use and generally do not require frequent replacement. However, certain types of home furniture can be expensive and are one-time expenditures. Moreover, most branded home furniture and furnishing products are durable and of superior quality. Consumers only need to incur maintenance costs for these over the years, which are usually minimal. This reduces the need for the frequent purchase of furniture and furnishings, which acts as a major growth barrier for the market. Such challenges will limit the online furniture market growth during the forecast period.

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Some Companies Mentioned with their Offerings

    • Ashcomm LLC- The company offers online furniture such as sofas and recliners. Through the furniture segment, the company offers living room furniture, bedroom furniture, kitchen and dining room furniture, home office furniture, bathroom furniture, and other furniture products. 
    • Bobs Discount Furniture LLC
    • Brilloca Ltd.
    • Herman Miller Inc.
    • Inter IKEA Holding BV
    • Kimball International Inc.
    • LaZBoy Inc.
    • Otto GmbH and Co. KG
    • Pepperfry Pvt. Ltd.
    • Raymour and Flanigan Furniture and Mattresses
    • Reliance Retail Ltd.
    • Steelcase Inc.
    • Wayfair Inc.
    • World Market
    • Ballard Designs Inc.
    • Bassett Furniture Industries
    • Haverty Furniture Companies Inc.
    • HNI Corp.
    • Pier 1 Imports Inc.
    • Williams Sonoma Inc.

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Online Furniture Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 16.79%

Market growth 2022-2026

$ 112.67 billion

Market structure

Fragmented

YoY growth (%)

8.0

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 37%

Key consumer countries

US, Canada, China, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ashcomm LLC, Bobs Discount Furniture LLC, Brilloca Ltd., Herman Miller Inc., Inter IKEA Holding BV, Kimball International Inc., LaZBoy Inc., Otto GmbH and Co. KG, Pepperfry Pvt. Ltd., Raymour and Flanigan Furniture and Mattresses, Reliance Retail Ltd., Steelcase Inc., Wayfair Inc., World Market, Ballard Designs Inc., Bassett Furniture Industries, Haverty Furniture Companies Inc., HNI Corp., Pier 1 Imports Inc., and Williams Sonoma Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 Online residential furniture – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Online residential furniture – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on Online residential furniture – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on Online residential furniture – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Online residential furniture – Year-over-year growth 2021-2026 (%)
  • 5.4 Online commercial furniture – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Online commercial furniture – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on Online commercial furniture – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on Online commercial furniture – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Online commercial furniture – Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Application
    • Exhibit 36: Market opportunity by Application ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 43: Data Table on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 44: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 Middle East and Africa – Market size and forecast 2021-2026
    • Exhibit 54: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.7 South America – Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 Japan – Market size and forecast 2021-2026
    • Exhibit 70: Chart on Japan – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 71: Data Table on Japan – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 72: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.11 UK – Market size and forecast 2021-2026
    • Exhibit 74: Chart on UK – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 75: Data Table on UK – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 76: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.12 Canada – Market size and forecast 2021-2026
    • Exhibit 78: Chart on Canada – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 79: Data Table on Canada – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 80: Chart on Canada – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Canada – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Ashcomm LLC
    • Exhibit 89: Ashcomm LLC – Overview
    • Exhibit 90: Ashcomm LLC – Product / Service
    • Exhibit 91: Ashcomm LLC – Key offerings
  • 10.4 Herman Miller Inc.
    • Exhibit 92: Herman Miller Inc. – Overview
    • Exhibit 93: Herman Miller Inc. – Business segments
    • Exhibit 94: Herman Miller Inc. – Key offerings
    • Exhibit 95: Herman Miller Inc. – Segment focus
  • 10.5 HNI Corp.
    • Exhibit 96: HNI Corp. – Overview
    • Exhibit 97: HNI Corp. – Business segments
    • Exhibit 98: HNI Corp. – Key news
    • Exhibit 99: HNI Corp. – Key offerings
    • Exhibit 100: HNI Corp. – Segment focus
  • 10.6 Inter IKEA Holding BV
    • Exhibit 101: Inter IKEA Holding BV – Overview
    • Exhibit 102: Inter IKEA Holding BV – Product / Service
    • Exhibit 103: Inter IKEA Holding BV – Key news
    • Exhibit 104: Inter IKEA Holding BV – Key offerings
  • 10.7 Kimball International Inc.
    • Exhibit 105: Kimball International Inc. – Overview
    • Exhibit 106: Kimball International Inc. – Business segments
    • Exhibit 107: Kimball International Inc. – Key offerings
    • Exhibit 108: Kimball International Inc. – Segment focus
  • 10.8 Otto GmbH and Co. KG
    • Exhibit 109: Otto GmbH and Co. KG – Overview
    • Exhibit 110: Otto GmbH and Co. KG – Business segments
    • Exhibit 111: Otto GmbH and Co. KG – Key news
    • Exhibit 112: Otto GmbH and Co. KG – Key offerings
    • Exhibit 113: Otto GmbH and Co. KG – Segment focus
  • 10.9 Pepperfry Pvt. Ltd.
    • Exhibit 114: Pepperfry Pvt. Ltd. – Overview
    • Exhibit 115: Pepperfry Pvt. Ltd. – Product / Service
    • Exhibit 116: Pepperfry Pvt. Ltd. – Key offerings
  • 10.10 Reliance Retail Ltd.
    • Exhibit 117: Reliance Retail Ltd. – Overview
    • Exhibit 118: Reliance Retail Ltd. – Product / Service
    • Exhibit 119: Reliance Retail Ltd. – Key offerings
  • 10.11 Steelcase Inc.
    • Exhibit 120: Steelcase Inc. – Overview
    • Exhibit 121: Steelcase Inc. – Business segments
    • Exhibit 122: Steelcase Inc. – Key offerings
    • Exhibit 123: Steelcase Inc. – Segment focus
  • 10.12 Williams Sonoma Inc.
    • Exhibit 124: Williams Sonoma Inc. – Overview
    • Exhibit 125: Williams Sonoma Inc. – Business segments
    • Exhibit 126: Williams Sonoma Inc. – Key news
    • Exhibit 127: Williams Sonoma Inc. – Key offerings
    • Exhibit 128: Williams Sonoma Inc. – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 129: Inclusions checklist
    • Exhibit 130: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 131: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 132: Research methodology
    • Exhibit 133: Validation techniques employed for market sizing
    • Exhibit 134: Information sources
  • 11.5 List of abbreviations
    • Exhibit 135: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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