Furniture Global Industry Overview

July 2025

This briefing examines how the furniture industry is performing globally and in the largest countries in terms of furniture output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the particular region.

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Key findings

Global growth contracts

In 2022, the global furniture industry faced considerable challenges, marked by a decrease in turnover compared to the previous year, driven by such factors as the lasting impact of the global COVID-19 pandemic, constrained consumer spending amid skyrocketing inflation and economic consequences arising from Russia's invasion of Ukraine.

Asia Pacific countries lead furniture industry’s growth

Emerging Asia Pacific countries, including Vietnam, India and Indonesia, are witnessing the most rapid expansion in the global furniture industry as compared to other major furniture- producing countries. This growth is driven by robust economic development, the growth of middle-class populations with rising incomes, abundant access to raw materials, evolving supply chains and continuous demand in the housing sector.

Competition among major furniture makers intensifies

Competition among furniture makers is intensifying due to evolving consumer preferences, technology advancements and globalisation of supply chains. For example, IKEA plans an investment of USD2.2 billion to open new stores in the US over the next three years in an attempt to strengthen its presence in the country as budgeteering consumers look for more affordable products. IKEA expansion is set to challenge such market players as Walmart.

Sustainability to remain a major long-term trend

The furniture industry is experiencing a rising focus on sustainability, and this trend is expected to intensify further as the consequences of climate change become increasingly apparent. Environmental regulations, such as the EU's 2023 Regulation on deforestation-free supply chains, have come into effect and are poised to significantly affect exporting countries globally.

Scope
Key findings
Industry forecast to maintain growth, but challenges mount
Asian countries will drive growth in the furniture industry
Industry’s cost growth stabilises but costs remain elevated
Industry manages to maintain stable profits in key countries
China maintains its position as top industry exporter, but slower growth is expected
US is the largest importer of furniture, but trade tensions create uncertainty
Key trends
Key trends uncovered
Macroeconomic/industry trends
Suppliers to furniture industry maintain top positions
Emerging countries witness increases in the number of companies
Concentration in developed economies increases
China: Industry forecast to maintain stable production value growth
Furniture industry forecast to recover gradually, mainly driven by domestic demand
US: Industry to maintain modest but steady growth rate
Anticipated recovery in the housing market forecast to support furniture industry
India: Industry forecast to maintain rapid growth
Rapidly growing domestic market supports furniture industry’s growth
Italy: Industry enters mature growth phase
Industry forecast to show mature growth, largely backed by exports
Germany: After turbulence, industry forecast to maintain steady growth
Improving domestic B2B demand and foreign sales drive industry’s recovery
Vietnam: Industry’s growth rate is forecast to increase slightly
Growing exports and strong domestic demand to support strong growth of the industry
Poland: Industry forecast to show healthy growth over the period to 2029
Industry continues to benefit from scale and cost advantages, sustaining growth
Turkey: Industry forecast to maintain long-term growth
Domestic demand supports industry’s growth, despite economic turbulence
Brazil: Industry’s growth forecast to remain aneamic
Recovering domestic demand to drive industry’s growth, but uncertainty prevails
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