According to the research report titled ‘Global Home Furnishing Market Size study with COVID-19 Impact, by Product (Home Furniture, Home Textile, Wall Decor and Others), by End User (E-Commerce Sales and In-store Sales) and Regional Forecasts 2020-2026’, available with Market Study Report, global home furnishings market generated revenues worth USD 728.5 billion in the year 2019 and is expected to grow with a CAGR of 5.2% between 2020 and 2026.
 

For those uninitiated, home furnishing industry comprises of companies that produce floor & wall coverings, furniture, non-upholstered kitchenware, and others. It also includes outdoor furniture, wall units, entertainment centers & stands, shades & curtains, mattresses, blinds, wallpapers, rugs, bed frames & headboards, drawers, carpets, chairs, tables, desks, and couches among others.
 

Escalating disposable income and rapid expansion of real estate sector are major factors driving the growth of global home furnishings market. Consumer preference towards using eco-friendly products is also aiding the market expansion.
 

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Evolving standards of living and inclination towards purchasing furniture through online retail platforms are stimulating the industry outlook. Introduction of advanced and innovative products along with increasing number of strategic alliances among major companies are favoring the market scenario. In August 2018, for instance, Sweden-based home furnishing company IKEA invested around USD 131.4 million and launched its first outlet in India, in Hyderabad.
 

The emergence of COVID-19 pandemic has compelled various governments to promote stay-at-home practices in order to flatten the curve, resulting in disruptions in manufacturing and supply chain processes, which in turn is negatively influencing the overall market outlook. Additionally, inflating prices of raw materials may act as a restraining factor to home furnishings market growth.
 

Based on product landscape, worldwide home furnishings market is split into wall décor, home textile, home furniture, and others. Citing the end-user spectrum, the market is segmented into in-store sales and e-commerce sales.
 

From the regional point of view, global home furnishings market is segmented into Latin America, Europe, North America, Asia-Pacific and rest of the World. Among these, the report states that North America accounts for a majority of market share and is expected to register consistent growth during the forecast period. On the other hand, Asia-Pacific market is poised to generate commendable returns in the ensuing years.
 

The major companies operating in global home furnishings market are J. C. Penney Company Inc., Carrefour S.A., Ashley Furniture Industries Inc., Haworth Inc., Future Group, Wayfair Inc., Macy's, Bed Bath & Beyond Inc., Walmart Inc., and IKEA among others.