PUBLISHER: Grand View Research | PRODUCT CODE: 1751448
PUBLISHER: Grand View Research | PRODUCT CODE: 1751448
Home Furnishing Market Summary
The global home furnishing market size was estimated at USD 1,018.2 billion in 2024 and is projected to reach USD 1,703.86 billion by 2030, growing at a CAGR of 9.2% from 2025 to 2030. The real estate industry plays a crucial role in driving demand for home decor.
A stable housing industry encourages renovations and new home purchases, boosting sales of decor products. Rising disposable incomes, especially in emerging economies like China and India, further enhance consumer spending on home aesthetics. Shifting consumer tastes toward sustainability and eco-friendly products are influencing purchasing decisions. As awareness of environmental issues grows, consumers increasingly seek decor items made from sustainable materials. Additionally, trends such as DIY home improvement projects and personalized decor options are gaining traction, encouraging consumers to invest in unique and customizable items that reflect their styles. With urban living spaces becoming smaller, there is an increasing demand for furniture that serves multiple purposes. Consumers seek stylish yet functional solutions that maximize space while enhancing aesthetic appeal. As more people live in smaller homes, innovative storage solutions that combine functionality with design are becoming essential.
The incorporation of innovative technologies into home furnishing is becoming more prevalent.
Consumers seek convenient products, such as intelligent lighting and automated furniture solutions. Manufacturers respond to consumer demands with multifunctional furniture that maximizes space utilization while maintaining aesthetic appeal. The limited indoor space has resulted in growing interest in outdoor decor. Urban consumers invest in outdoor furniture and decor to enhance their balconies and patios, creating additional living areas that reflect their style.
The increase in rental living is also expected to be a key market driver shortly. Urban areas often see a high proportion of rental properties due to high real estate costs. Renters typically move more frequently, leading to a demand for affordable, lightweight, and easily movable furniture. Rental markets encourage furniture that is easy to disassemble and reassemble. Flat-pack furniture from companies like IKEA has thrived in this environment. Renters also look for budget-friendly yet durable options, emphasizing affordability without sacrificing design.
While e-commerce has expanded the home furnishing industry, it also presents significant challenges, especially for traditional brick-and-mortar stores. The shift to online shopping demands robust digital infrastructure, including user-friendly websites, secure payment systems, and efficient delivery options.
Global Home Furnishing Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global home furnishing market report based on product, type, distribution channel, and region: