Home Office Furniture Market Size was valued at USD 22.1 Billion in 2022. The Home Office Furniture Market industry is projected to grow from USD 23.5 Billion in 2023 to USD 38.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032). With the rise of remote work and work-from-home policies, more and more people are setting up their home offices, and the rise in the number of nuclear families fuels the demand for portable and space-saving products are expected to be a significant market driver for the Home Office Furniture Market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for Home Office Furniture is driven by the rising adoption of remote work, and the Increasing need to maintain work-life balance. The widespread adoption of remote work, driven by advancements in technology and shifts in work dynamics, is a key factor propelling the growth of the home office furniture market. According to Upwork, it is estimated that 26% of the American workforce, or 1 in 4 Americans, will be working remotely through 2021. Their projection extends to 2025, anticipating that 22% of the workforce (equivalent to 36.2 million Americans) will be working remotely. ly, a study by Owl Labs indicates that 16% of companies are fully remote, and 62% of workers aged 22 to 65 claim to work remotely at least occasionally. With the increasing prevalence of remote work, there is a heightened demand for ergonomic and functional furniture to ensure productive and comfortable homework environments. Furniture components such as ergonomically designed desks and chairs that promote proper posture, along with accessories like monitor stands and keyboard trays, are highly sought-after to create efficient home workspaces. This trend has led to the development of furniture solutions that accommodate the integration of technology, including cable management systems and charging stations. As remote work evolves into a long-term reality for many, the focus on creating optimal home office setups continues to drive the demand for furniture catering to the needs of remote professionals.
The evolving notion of work-life balance has emerged as a crucial factor influencing the design and selection of home office furniture. Individuals are now seeking furniture that not only supports work-related activities but also seamlessly integrates into their living spaces. The market is experiencing growth driven by the demand for stylish and aesthetically pleasing furniture options that resonate with personal tastes and interior design preferences. Furthermore, the increasing popularity of multi-purpose furniture, capable of transitioning smoothly from work to leisure settings, underscores the heightened focus on creating environments that positively contribute to mental well-being and overall lifestyle. Additionally, the integration of eco-friendly materials and sustainable design practices in home office furniture aligns with the growing awareness of environmental responsibility, adding another dimension to the pursuit of work-life balance and holistic well-being.
As a result, it is anticipated that throughout the projection period, demand for the Home Office Furniture Market will increase due to the Rising adoption of remote work, and the Increasing need to maintain work-life balance. Thus, driving the Home Office Furniture Market revenue.
The Home Office Furniture Market segmentation, based on Product Type includes Seating, Tables, Storage Units & File Cabinets, and Others. The tables segment dominated the market, accounting for 58% of market revenue (12.8 Billion). The surge in the trend of investing in home improvements and renovations is fueled by a growing emphasis on establishing home office spaces that are both conducive to productivity and aesthetically pleasing. Tables play a fundamental role in these setups, serving as practical and functional surfaces for work.
Figure 1: Home Office Furniture Market, by Product Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Home Office Furniture Market segmentation, based on Material Type includes Wood, Metal, and Plastic. The Wood segment dominated the market, accounting for 58% of market revenue. The adoption of sustainable practices in wood sourcing and manufacturing aligns with the eco-conscious preferences of consumers, contributing to a more environmentally friendly approach to furniture production. The growing popularity of wood as a material underscores its significant impact on shaping the home office furniture market, fostering innovation, and providing consumers with enduring quality and style.
The Home Office Furniture Market segmentation, based on Price Range includes Low, Medium, and High. The Medium segment dominated the market, accounting for 60% of market revenue (13.2 Billion). The increasing demand for reasonably priced yet well-crafted furniture, driven by the surge in remote work and home office setups, is contributing significantly to market expansion. Medium-priced offerings foster market competitiveness, spur innovation, and enhance the diversity of product ranges, thereby fueling growth in the home office furniture market and addressing the evolving needs of remote professionals.
The Home Office Furniture Market segmentation, based on Sales Channels includes Supermarkets/Hypermarkets, Specialty Stores, E-Commerce, and Others. The Specialty Stores segment dominated the market, accounting for 60% of market revenue. The personalized expertise of staff in these stores ensures that customers discover furniture that aligns with their unique requirements, encompassing comfort, functionality, and aesthetics. The presence of specialty stores facilitates direct engagement with consumers, empowering them to make informed decisions and explore innovative furniture designs that effectively address the challenges associated with creating productive home office environments.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Home Office Furniture market in North America can be attributed to several key factors. The dynamic corporate landscape, swift establishment of IT parks, the surge in startup ventures, corporate expansions, and the growth of commercial zones have generated a heightened demand for office spaces and job opportunities. The information technology industry remains a resilient and expanding sector, wielding significant influence over the U.S. economy and job market. This situation is anticipated to positively impact the U.S. market. Throughout the pandemic, the tech industry underwent rapid expansion and substantial profitability, driven by increased online shopping, remote work, and virtual social interactions. The resurgence of commercial office real estate, reflecting the recovery of the tech industry, is evident in suburban areas such as Phoenix. According to a report from CBRE Group, Inc., the tech industry's leasing of office space in the U.S. increased by 27% in 2021 compared to 2020.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HOME OFFICE FURNITURE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Home Office Furniture Market accounts for the second-largest market share the growth of the market is propelled by a commitment to sustainable practices, the use of eco-friendly materials, and adherence to stringent quality standards in line with European consumer preferences, reflecting a comprehensive approach to furnishing home workspaces. Additionally, Europe's diverse market landscape, incorporating both traditional and modern work environments, fosters the development of versatile and adaptable home office furniture solutions that cater to a broad range of needs and preferences, contributing to market expansion. The proportion of employed individuals in the EU who typically worked from home increased by 8.0 percentage points between 2019 and 2021. Notably, there was a significant surge in the percentage of employed individuals working from home in various capital and urban regions. For instance, in Eastern and Midland in Ireland and Stockholm in Sweden, the increases were +33.1 pp and +32.8 pp, respectively. This indicates that, when comparing the pre-pandemic situation in 2019 to the situation in 2021, the share of employed people usually working from home in these two capital regions increased by more than four times the increase for the EU average. Further, the German Home Office Furniture Market held the largest market share, and the UK Home Office Furniture Market was the fastest-growing market in the European region.
The Asia-Pacific Home Office Furniture Market is expected to grow at the fastest CAGR from 2023 to 2032. The rapid investment in the construction sector, aligned with the progress of smart city projects, is anticipated to unveil fresh opportunities for players in the furniture industry in the years ahead. According to the International Data Corporation, investments in smart city initiatives surpassed USD 81 billion in 2018 and are expected to surpass USD 158 billion by 2022. The escalating innovation, combined with a growing appetite for aesthetically advanced furniture, will contribute to increased revenue in the Asia Pacific furniture market. The continuous evolution of technology is presenting manufacturers with a myriad of possibilities in both structure and design, leading to unprecedented advancements. Moreover, China’s Home Office Furniture Market held the largest market share, and the Indian Home Office Furniture Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Home Office Furniture market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Home Office Furniture industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Home Office Furniture industry to benefit clients and increase the market sector. In recent years, the Home Office Furniture industry has offered some of the most significant advantages to the evolving landscape of remote work and flexible work arrangements. Major players in the Home Office Furniture Market, including Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc are attempting to increase market demand by investing in research and development operations.
Steelcase Inc (Steelcase) is a company specializing in the manufacturing and provision of furniture and corporate architectural solutions. The company's diverse product portfolio includes furniture systems and seating, desks and tables, storage furniture, space division, collaboration technology, scheduling systems, workplace optimization and analytics, and ergonomic work tools offered across various price points. Additionally, it provides services such as workplace strategy consulting, lease origination services, data-driven space measurement, and furniture and asset management. Steelcase markets its products under different brands such as Steelcase, Viccarbe, HALCON, Coalesse, Designtex, Smith System, Orangebox, Steelcase Learning, Steelcase Health, and AMQ. The company has a presence, with operations in North America, Europe, and the Asia-Pacific region, and its headquarters are located in Grand Rapids, Michigan, USA. In March 2021, Steelcase Inc., a leading presence in the furniture industry, launched a fresh range of work-from-home products, encompassing chairs, desks, and storage solutions. This move was driven by the growing demand for home office furniture. The introduction of these products underscores the company's dedication to improving the remote work experience by providing ergonomic and functional solutions that prioritize productivity, comfort, and organization. Specifically, the chairs are crafted to offer optimal support during extended work sessions, and the desks are designed to accommodate various workstyles, featuring adjustable height and integrated technology solutions.
Inter IKEA Holding BV (IKEA Holding), a subsidiary of the Inter IKEA Foundation, functions as a holding company, offering a variety of home furnishing products, solutions, and services. The company, along with its subsidiaries, engages in franchise operations, supply chain management, and product range development. In its franchisee business, IKEA Holding oversees the implementation and growth of the IKEA concept in both established and emerging markets. Additionally, the company is involved in the design and development of a diverse range of IKEA products, including home furnishings. It also manages the sourcing, selling, and distribution of IKEA products to franchisees. Operating through subsidiaries in North America, Europe, and the Asia-Pacific region, IKEA Holding has its headquarters in Delft, Zuid-Holland, the Netherlands. In response to the growing demand for work-from-home products, IKEA launched a new line of home office furniture in 2020, featuring desks, chairs, and storage solutions. This initiative reflects IKEA's commitment to meeting the evolving needs of individuals working remotely.
Key companies in the Home Office Furniture Market include
Home Office Furniture Industry Developments
May 2022: In May 2022, Steelcase, Inc. completed the acquisition of HALCON, a Minnesota-based company known for designing and manufacturing precision-tailored wood furniture for the workplace. This strategic move is expected to enhance Steelcase's existing portfolio of wood products, providing professionals and customers with unparalleled design and master craftsmanship.
May 2022: In May 2022, Haworth Inc. showcased three new spaces and introduced over 20 new furniture products at NeoCon 2022, held at theMART in Chicago. The company unveiled new products across various categories, including seating spaces, social spaces, next-generation work systems, and collaborative product introductions from Hushoffice, Pablo Designs, Emeco, and GAN.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 22.1 Billion |
| Market Size 2023 | USD 23.5 Billion |
| Market Size 2032 | USD 38.9 Billion |
| Compound Annual Growth Rate (CAGR) | 6.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Material Type, Price Range, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc |
| Key Market Opportunities | · The popularity of smart offices with sensors equipped is widely gaining momentum |
| Key Market Dynamics | · The growing trend of remote work and flexible arrangements |
Frequently Asked Questions (FAQ) :
The Home Office Furniture Market size was valued at USD 22.1 Billion in 2022.
The Home Office Furniture Market is projected to grow at a CAGR of 6.50% during the forecast period, 2023-2032.
North America had the largest share of the market.
The key players in the market are Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc.
The Tables segment dominated the market in 2022.
The Specialty stores segment had the largest share in the market.
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