Global Furniture Industry Size (2018–2029)

The global furniture industry is one of the most lucrative sectors in the world, ranking among the top online shopping categories in 2024. For those looking to venture into this trade, understanding how much revenues this industry generates each year is essential.

In this article, we’ll provide an analysis of the global furniture industry and its performance in recent years.

Global home furniture market revenues: table

Year	Global furniture market size	Annual change
2018	$609.1 billion
2019	$623.5 billion	+2.4%
2020	$634.2 billion	+1.7%
2021	$705.1 billion	+11.2%
2022	$694.5 billion	-1.5%
2023	$738.4 billion	+6.3%
2024	$765.0 billion	+3.6%
2025	$794.0 billion	+3.8%
2026	$824.7 billion	+3.9%
2027	$856.1 billion	+3.8%
2028	$889.0 billion	+3.8%
2029	$921.6 billion	+3.7%

Global furniture market in 2024

So, how much is the furniture industry worth?

In 2024, the global furniture market is projected to generate $765 billion in revenues, marking a 3.6% increase from the previous year. This rise represents the second consecutive year of revenue growth, although at a slower pace than the 6.3% increase in 2023.

According to analysts, several key trends are shaping the future of the furniture industry. Sustainability and customization are becoming increasingly important to consumers, with eco-friendly materials and personalized designs driving purchasing decisions.

Fueled by both traditional and online sales channels, the number of furniture stores in the US has also risen in recent years. Additionally, the average order value for furniture purchases is remarkably high, making it a profitable category for retailers. That said, it’s also one of the most returned products online, indicating the need for businesses in this sector to provide better customer service and more accurate product descriptions to reduce return rates.

Furniture market 2024: top categories

In 2024, living room furniture is expected to be the biggest driver of the global furniture market’s revenues, generating $223.6 billion. This reflects the category’s central role in home design. Bedroom furniture ranks next, generating $135.7 billion, followed by home décor, with $133.6 billion.

Kitchen and dining furniture contribute $86.7 billion, while lighting generates $83.6 billion. The outdoor furniture and the home office sectors are expected to generate $52.1 billion and $49.6 billion in revenues, respectively.

Global furniture industry revenues: 2018–2023

From 2018 to 2023, the global furniture industry saw notable changes in revenues. In 2018, the industry generated $609.1 billion, before rising by 2.4% in 2019, to $623.5 billion.

The upward trend continued in 2020, with revenues reaching $634.2 billion, reflecting a marginal 1.7% increase. In 2021, the sector experienced a significant 11.2% jump to $705.1 billion, which experts attributed to the post-pandemic recovery. This was quickly followed by a slight 1.5% decline in 2022, to $694.5 billion, as the market readjusted.

The industry rebounded in 2023, achieving $738.4 billion in revenues, a 6.3% increase. Over this period, the industry expanded at an average annual growth rate of 4%.

Global furniture industry revenues: 2025–2029 forecast

Looking ahead, the global furniture industry is forecast to continue its upward trajectory until 2029. In 2025, the industry is expected to grow by 3.8%, to $794 billion. Similar annual growth rates are projected through 2029, when the global furniture market size is anticipated to reach $932.6 billion.