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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Australia Furniture Market Outlook
The Australia furniture market size reached USD 2.98 billion in 2023. The market is expected to grow at a CAGR of 3.08% between 2024 and 2032, reaching USD 3.87 billion by 2032.
Key Takeaways:
- As reported by the Australian Bureau of Statistics, new residential construction values in January 2024 surged by 19.4% to $7.14 billion.
- Australian Bureau of Agricultural and Resource Economics data shows wood product imports hit $6.9 billion in 2022-23.
- According to the International Trade Administration, Australia's 2022 total retail expenditure amounted to US$242 billion.
Wood plays a vital role in driving the Australia furniture market growth due to its ability to be crafted into various styles, covering from conventional to contemporary, providing flexibility in appearance options
Wood furniture offers durable charm with varied hues and grain textures, long-lasting strength for multiple generations, multipurpose designs for different aesthetics, wide customisation options, eco-awareness through sustainable resourcing and recyclability, and increased ease for heightened satisfaction.
In April 2024, IKEA Australia launched a new gaming furniture range. Previously, IKEA partnered with ROG for a gaming-focused line. However, they decided to create an original collection called BRÄNNBOLL. Launched in September, it catered to a broader gaming audience with modular designs.
Metal furniture claims outstanding sturdiness and resilience against damage, showcasing modern style with simple designs, ideal for compact spaces, requiring nominal maintenance, fire-resistant for safety, and often offering cost-effective solutions for long-term monetary gains.
Market Segmentation
Australia Furniture Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Material
- Wood
- Plastic
- Metal
- Others
Market Breakup by Product Type
- Beds
- Tables and Desks
- Sofa and Couch
- Chairs and Stools
- Cabinets and Shelves
- Others
Market Breakup by End Use
- Residential
- Commercial
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail Stores
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia furniture market key players are King Furniture Australia Pty Ltd., Design Furniture Co Pty Ltd., Grazia & Co. Pty Ltd., Fursys, Advanta Group Pty Ltd., Lama Furniture Australia, Alpha Office Furniture Pty Ltd., Woods Furniture Pty Ltd., Matic Furniture Pty Ltd., and Krost Furniture Pty Ltd. among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 2.98 billion in 2023.
The market is projected to grow at a CAGR of 3.08% between 2024 and 2032.
The revenue generated from the furniture market is expected to reach USD 3.87 billion in 2032.
The furniture market is categorised according to material, which includes wood, plastic, metal and others.
The key players are King Furniture Australia Pty Ltd., Design Furniture Co Pty Ltd., Grazia & Co. Pty Ltd., Fursys, Advanta Group Pty Ltd., Lama Furniture Australia, Alpha Office Furniture Pty Ltd., Woods Furniture Pty Ltd., Matic Furniture Pty Ltd., and Krost Furniture Pty Ltd. among others.
Based on the distribution channel, the market is divided into commercial and residential.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia and others.
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