U.S. Home Furniture and Bedding Market Presents Strong Revenue Visibility in Near Future Booming At a CAGR of 3.07%

U.S. Home Furniture and Bedding Market Infographic Image

U.S. Home Furniture and Bedding Market

According to U.S. home furniture and bedding industry analysis, The U.S. home furniture and bedding market is segmented into product type and sales channel.

People choosing to live in closer area significantly creating demand for smart and portable furniture such as murphy sofa bed, further influence the growth of the market during the forecast period.”

— Roshan Deshmukh

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 3, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled U.S. Home Furniture and Bedding Market by Product Type and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027. The U.S. home furniture and bedding market size is expected to reach $183,489.52 million by 2027, registering a CAGR of 3.07% from 2021 to 2027.

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Furniture is the vital part of home, which offers convenience and aesthetic view to the living room, bedroom, and kitchen. The trend of refurbishing and renovating of homes has been gaining high traction in the U.S., which notably contributes toward the market growth. In addition, increase in expenditure on home improvement and décor is expected to increase U.S. home furniture and bedding market share during the forecast period.

The U.S. home furniture and bedding market is segmented into product type and sales channel. On the basis of product type, the market is categorized into sofa, bed, chair, cupboard, and others. By sales channel, it is segregated into online and offline.

The basis of product type, the cupboards 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 increase in spending power of consumers, improvement in lifestyle, and launch of innovative cupboards with elegant designs are expected to increase their demand. Furthermore, increase in preference toward smaller homes and apartments due to hike in land prices & rents is likely to boost the demand for customized cupboards.

On the basis of sales channel, the online segment is estimated to reach $88,662.14 million by 2027, exhibiting at a CAGR of 3.06%, due to increase in adoption of various online portals for furniture shopping and rise in number of offers or discounts provided by these sites, which attracts a large consumer base to purchase home furniture through online channels. Moreover, online sales channels have increased consumer reach, owing to which it has evolved as a key source of revenue for many companies.

Furthermore, the online sales market is expected to expand in the future, owing to rapid adoption of the e-commerce platform by consumers and furniture manufacturing and retail companies and technical improvements in online selling platforms such as chatbots, voice assistants, augmented & virtual reality, blockchain technology, and drones & droids. For instance, chatbots is new virtual support service drones & droids are next level delivery systems.

However, increase in cost of raw material owing to stringent laws and conditions imposed by the U.S. government under State Forestry Laws, is likely to hinder the U.S. home furniture and bedding market growth during the forecast period. Forestry Law relates to all statutes and regulations that deal with the preservation of forests and parks, Forestry 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 logging activities. These laws derive from both federal and state sources. Other than wood as raw material for furniture, steel, glass, plastic and fiber has been gaining considerable traction among the people owing to benefits associated such as long durability, more aesthetic appearance and environment friendly.

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The players operating in the U.S. home furniture and bedding industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Steelcase, HNI Corporation, Herman Miller, Sleep Number Corporation, La-Z-Boy Inc., Tempur Sealy International, Inc., Serta Simmons Bedding, LLC, Sauder Woodworking Company, Ashley Furniture Industries, and Hooker Furniture Corporation.

Key Benefits For Stakeholders

○ The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the U.S. home furniture and bedding industry.

Reasons to Buy This U.S. Home Furniture and Bedding Market Report:

○ Mergers and acquisitions should be well-planned by identifying the best manufacturer.
○ Sort new clients or possible partners into the demographic you’re looking for.
○ Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
○ Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
○ To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
○ Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
○ To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

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