Home office furniture industry is projected to witness a CAGR of 4.2% during the period 2024-2032. This growth can be attributed to increasing customized trends.
Selbyville, Delaware, Nov. 13, 2024 (GLOBE NEWSWIRE) —
Home Office Furniture Market size was valued at around USD 15 billion in 2023 and is estimated to grow at a CAGR of 4.2% from 2024 to 2032. The shift towards remote and hybrid work models across various industries has significantly transformed the work environment, fueling the demand for home office furniture.
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As more individuals adopt work-from-home setups, there is an increasing need for functional and ergonomic office furniture that enhances comfort and productivity.
Technologically savvy consumers are driving the demand for innovative office setups that offer modern solutions. Features such as integrated charging ports, cable management systems, and adjustable components are becoming popular, allowing for a more efficient and organized workspace. The rise of e-commerce also plays a key role in market progression, providing consumers with a wide range of furniture options and convenient delivery services.
The home office furniture market is segmented by product type, with desks, chairs, storage units, tables, and accessories leading the categories. Desks accounted for about 34% of the market share in 2023 and are expected to expand at a CAGR of 4.3% through 2032. The growing popularity of stand-up desks, which offer ergonomic benefits by allowing users to alternate between sitting and standing, is driving demand. Consumers are increasingly seeking desks that offer functionality and space-saving designs, with features like built-in storage and cable management solutions.
Chairs designed for ergonomic support are also seeing rising demand, as more people prioritize comfort and health during long work hours. Features such as adjustable lumbar support, headrests, and armrests, as well as breathable materials, are gaining popularity.
The home office furniture market is also categorized by material, including wood, metal, glass, and plastic. Wood held the largest share, around 44%, in 2023, with sustainable and reclaimed wood options growing in demand due to increased environmental awareness. Industrial-style metal furniture and glass furniture, known for their modern aesthetics and durability, are also gaining traction.
North America dominated the global home office furniture market in 2023, accounting for around 34% of the market share. The ongoing trend of remote work, in line with innovations in furniture technology and evolving consumer preferences.
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Major players in home office furniture market include Godrej Interio, Haworth, Herman Miller, HNI Corporation, HON, Humanscale, Knoll, Kokuyo, La-Z-Boy, Product Depot International, Steelcase, Sunon Furniture, Virco, Vitra International, and Williams-Sonoma among others.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model.
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain.
3.1.2 Profit margin analysis.
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rise of remote work
3.2.1.2 Increasing customized trends
3.2.2 Industry pitfalls & challenges
3.2.2.1 Price volatility in raw materials
3.2.2.2 Shifts in consumer preferences.
3.3 Growth potential analysis
3.4 Future trend analysis
3.5 Price analysis
3.6 Raw material analysis
3.7 Consumer buying behavior
3.7.1 Demographic trends
3.7.2 Factors affecting buying decision
3.7.3 Consumer product adoption
3.7.4 Preferred distribution channel
3.7.5 Preferred price range
3.8 Porter’s analysis
3.9 PESTEL analysis
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