Rising income levels will propel purchases of premium items
CLEVELAND, March 3, 2021 /PRNewswire/ -- US demand for household furniture is forecast to advance 2.5% yearly in nominal terms through 2025, according to Household Furniture: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from continued gains in new housing completions and residential improvement expenditures. Increases in disposable personal income will support consumer purchases of premium furniture to outfit their living spaces. However, sales of used furniture through electronic marketplaces such as Facebook Marketplace, Chairish, and Craigslist will impede further gains as some consumers continue to take advantage of the cost savings associated with purchasing used items.
US household furniture shipments are forecast to see annual increases of 1.5% through 2025, rising on the strength of growth in the housing market. Demand for high-end and custom furniture, bolstered by gains in disposable personal income, will also benefit many US household furniture producers, as these products typically lack the economy of scale associated with mass production and overseas transport that drives many imports. Nevertheless, competition from lower-priced imports will continue to challenge the US industry.
These and other key insights are featured in Household Furniture: United States. This report forecasts to 2021 and 2025 US household furniture demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by type in terms of:
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2010 to 2020.
Sales of mattresses and box springs are excluded from the scope of this report, as are outdoor furniture articles made of ceramic, concrete, or stone. Sales of used furniture are excluded. Sales of furniture for home offices are also not included; they are included in Office Furniture: United States. Re-exports of household furniture are excluded from demand and trade figures.
This report includes the results of a proprietary national online consumer survey of US adults (age 18+). This Freedonia Focus Reports National Survey has a sample size of approximately 2,000, screened for response quality, and representative of the US population on the demographic measures of age, gender, geographic region, race/ethnicity, household income, and the presence/absence of children in the household.
More information about the report is available at:
https://www.freedoniafocusreports.com/Household-Furniture-United-States-FF20010/?progid=91541
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
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total historical market size and industry output
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segmentation by products and markets
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identification of market drivers, constraints, and key indicators
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segment-by-segment outlook in five-year forecasts
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a survey of the supply base
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suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com
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SOURCE The Freedonia Group
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