Home Furniture Market in the US (2018–2029)
Revenues from the global furniture industry are projected to rise by 3.6% in 2024, to $765 billion. As more and more furniture stores open in the United States and an increasing number of its population shops online, it should come as no surprise that furniture currently ranks among the top online shopping categories there.
How much is the home furniture market in the US actually worth? Let’s dive into some key data surrounding furniture revenues to understand how the sector has been performing.
US furniture market revenues: table
|
Year |
US furniture market revenues |
Annual change |
|
2018 |
$187.0 billion |
|
|
2019 |
$196.7 billion |
+5.2% |
|
2020 |
$211.3 billion |
+7.4% |
|
2021 |
$230.4 billion |
+9.0% |
|
2022 |
$235.2 billion |
+2.1% |
|
2023 |
$253.8 billion |
+7.9% |
|
2024 |
$263.2 billion |
+3.7% |
|
2025 |
$273.1 billion |
+3.8% |
|
2026 |
$283.8 billion |
+3.9% |
|
2027 |
$294.8 billion |
+3.9% |
|
2028 |
$306.2 billion |
+3.9% |
|
2029 |
$317.5 billion |
+3.7% |
US furniture market size: 2018–2024
According to the latest analysis of the US furniture market, revenues from the sector are expected to hit $263.2 billion in 2024, following a 3.7% annual rise from the previous year. This rate of increase is less than half of the previous year’s, which was recorded at 7.9%.
Despite the slowdown, the increase in revenues suggests a healthy expansion of the industry, which has been growing annually since at least 2018. That year, total revenues were $187 billion. A 5.2% growth the following year saw this figure rise to $196.7 billion, before a 7.4% increase in 2020 brought revenues past the $200 billion mark for the first time.
In 2021, the furniture market in the US saw revenues rise by 9%, the biggest yearly increase expected between 2018 and 2029. More impressively, the sector continued on its growth path in 2022, climbing by 2.1%, even as the global furniture market saw revenues fall by 2.3%. Annual growth rates more than tripled from 2022 to 2023, which brought total revenue for the year to $253.8 billion.
US furniture market size: 2025–2029 forecast
Predictions by industry analysts indicate the furniture market in the US is set to continue to grow its revenues for at least five more years. From 2025 to 2029, it’s projected to expand at an average annual growth rate of 3.8%. This means that by 2029, revenues from home furniture sales are expected to hit $317.5 billion.
US furniture market: largest revenue-generating subcategories in 2024
|
Category |
Total revenue |
|
1. Living room furniture |
$73.1 billion |
|
2. Bedroom furniture |
$46.5 billion |
|
3. Kitchen and dining furniture |
$38.8 billion |
|
4. Home décor |
$35.4 billion |
|
5. Lamps and lighting |
$32.0 billion |
|
6. Home office furniture |
$18.9 billion |
|
7. Outdoor furniture |
$18.5 billion |
Of the different product categories in the overarching US furniture market industry, living room furniture is set to generate the highest revenues. In 2024, sales from these items are expected to reach $73.1 billion. They are followed by bedroom furniture, with $46.5 billion, and kitchen and dining furniture, with $38.8 billion. Items related to home décor rank next, with $35.4 billion. Lamps and lighting rounds out the five largest revenue-generating subcategories, with sales forecast to total $32 billion.