Home Furniture Market – Growth, Trends, Forecasts

Mordor Intelligence

The impact of the COVID-19 crisis on consumer behaviour and manufacturing trends has heightened the importance of digitalization and automation for the furniture industry. Online-savvy consumers seeking personalized shopping experiences and competitive prices are pushing furniture manufacturers to innovate on their existing workflows.

The Canadian furniture industry is one of the world’s top ten furniture producers. The Canadian home furniture market is expected to register a higher CAGR during the forecast period. Due to the channelized process of production, distribution, and selling and increasing demand for household furniture (due to consumer spending capacity), the home furniture market in Canada may have an exciting growth during the forecast period.

Increased per capita income of the middle class is boosting the Canadian home furniture market. The growth in the infrastructure sectors, like real estate and tourism, is also responsible for the increased demand for commercial furniture in Canada. Moreover, the country is well-known for producing carved and specialized wood furniture. These are the key growth drivers of the home furniture industry in Canada.

Furniture brands want to enhance their presence with local distribution tie-ups and stand-alone stores across major cities. This market’s growth is not restricted to high street retail, as online players have carved a niche in this segment.

Due to the improved housing activity and rising expenditure on home furniture products, Canada is witnessing strong growth in the sales of furniture products. The market is consumer-oriented, with household sales for bedroom, living room, and dining room furniture accounting for the majority share, followed by expenditure on other furniture categories.

Due to the increasing demand for high-end furniture, Canadians value durability and long-lasting pieces, particularly in the design centers of Toronto and Montreal. Wooden products are majorly preferred for living and dining room furniture in the country.

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