According to the research report titled ‘North America Furniture Market Forecast 2027 By Distribution Channel, By Material, By Application, By Price Range, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America furniture market is poised to amass a valuation of USD 109.9 billion by 2027.
 

Mass production of plastic and wood, coupled with growing advancement in production techniques are primarily boosting North America furniture market growth.

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Notably, modern furniture construction methods allow for the production of durable, sustainable and innovative designs across both commercial and residential settings. Rising homeownership, and increasing manufacturer focus on eco-friendly & sustainable practices will contribute towards market development.

Based on material type, the industry is classified into plastic, wood, metal and others. Wood segment accounted for over 65% market share in 2020 and is reckoned to witness a similar trend through 2027. Wooden furniture has become the primary choice for interior design as it is strong, durable, and low maintenance in nature.

By application type, North America furniture industry classification comprises residential (upholstered furniture, non-upholstered furniture, bedroom, kitchen cabinet, dining room, blinds & shades, mattresses, others), and commercial (business/office, educational, healthcare, hospitality, others). The residential sector is expected to observe considerable growth over the forecast period, on the back of surge in number of single-family homes, townhomes, and condominiums.

Considering distribution channel, the business vertical is split into online, and offline. Online distribution channel is expected to be more prevalent through 2027, amidst the COVID-19 pandemic across Canada and the U.S. This can be attributed to the thriving e-commerce sector, which is using approaches like offers and discounts, along with new technologies like cloud space and AI.

Speaking of the competitive outlook, companies such as The Home Depot Inc., McCarthy Group Ltd., Okamura Corp., Herman Miller Inc., Haworth Inc., Heritage Home Group LLC, La-Z-Boy Inc., Kohler Co., Steelcase Inc., Ashley Furniture Industries Inc., and Inter IKEA Systems B.V. are prominently influencing North America furniture market trends.