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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

United States Luxury Furniture Market Outlook

The United States luxury furniture market size reached approximately USD 9.82 billion in 2023. The market is estimated to grow at a CAGR of 3.4% in the forecast period of 2024-2032, reaching a value of around USD 13.21 billion by 2032.

Key Trends in the Market

Luxury furniture encompasses furniture pieces which are made of high-quality materials such as mahogany wood, brass, bronze, and leather, among others. They usually feature detailed designs and delicate craftsmanship, which enhances the aesthetic appeal of a space.

  • The growing demand for handcrafted luxury furniture is one of the crucial United States luxury furniture market trends. This demand arises due to customers’ desire to possess authentic and one-of-a-kind furniture instead of a mass-produced piece that can be found in multiple homes.
  • Custom concealment furniture is also gaining prominence in the US market as it offers the provision of concealing valuable items such as cash, jewellery, and important documents, among others. This luxury item also blends seamlessly with other home décor products while providing an additional layer of security to the valuables.
  • The rise of the e-commerce sector in the country allows customers to access and buy luxury furniture items from foreign brands which are typically unavailable at physical stores, providing further impetus to the United States luxury furniture market growth.
  • Rising efforts by market players to expand their production capacity is another prominent trend aiding the market expansion. For example, in November 2023, Ashley Furniture Industries got approval for building a furniture manufacturing facility and an 85,000-square-foot showroom in Phoenix.

Market Analysis

Based on product, the market is divided into tables, chairs and sofas, and cabinets, among others. On the basis of material, the market is classified into wood, glass, metal, and plastic, among others. Based on application, the market is bifurcated into commercial and domestic.

The United States luxury furniture market segmentation, on the basis of distribution channel, includes offline and online. The major regional markets of luxury furniture in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States luxury furniture market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

  • Ralph Lauren Corporation
  • Ashley Furniture Industries, LLC
  • MillerKnoll, Inc.
  • Vermont Woods Studios
  • Kimball International Inc. 
  • Hooker Furnishings Corporation
  • Brown Jordan Inc.
  • Bernhardt Furniture Company
  • John-Richard
  • Theodore Alexander USA, Inc.
  • Others

Market Share by Application

The commercial sector occupies a substantial portion of the United States luxury furniture market share, due to the growing usage of luxury furniture in hotels and luxury resorts. These establishments typically opt for well-crafted furniture that exudes luxury and comfort to create an inviting and cosy environment for the guests.

Furthermore, the residential sector is expected to witness sizeable growth in the forecast period, due to the shifting customer preference towards versatile and high-craftsmanship items. Several manufacturers are also incorporating sustainable materials such as bamboo, hemp, and kenaf, among others, in their luxury furniture range, enhancing their appeal among environmentally conscious consumers.

Market Share by Distribution Channel

As per the United States luxury furniture market analysis, offline channels account for a significant share of the US market as customers usually prefer to buy furnishing items from physical stores to inspect the quality and finish of the items.

Meanwhile, online channels are anticipated to grow at a robust rate in the forecast period as they provide accessibility to a large number of brands and sophisticated furniture designs that may not be found in the showroom.

Competitive Landscape

Ralph Lauren Corporation, founded in 1967 is a fashion company, with its headquarters in New York, the United States. The company is renowned for the production and distribution of its luxury design products in the international market. Its furniture range includes coffee tables, end tables, nightstands, dressers, bookcases, and beds, among others.

Ashley Furniture Industries, LLC, established in 1945 and based in Wisconsin, the United States, is a home furnishing company. Its comprehensive furniture range consists of accent chairs, ottomans, TV stands, nightstands, dressers and chests, and benches, among others. The company is known as one of the largest manufacturers of furniture in the world with partners in over 155 countries.

MillerKnoll, Inc. is a conglomerate of dynamic brands across the world. Its brand Herman Miller is an office and home furnishing company, incorporated in 1905 and headquartered in Michigan, the United States. Some of the brand’s well-known products in the market are the Aeron chair, Eames Lounge chair, Mirra chair, and Noguchi table, among others.

Other United States luxury furniture market players include Vermont Woods Studios, Kimball International Inc., Hooker Furnishings Corporation, Brown Jordan Inc., Bernhardt Furniture Company, John-Richard, and Theodore Alexander USA, Inc., 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:

  • Product
  • Material
  • Application
  • Distribution Channel
  • Region
Breakup by Product
  • Tables
  • Chairs and Sofas
  • Cabinets
  • Others
Breakup by Material
  • Wood
  • Glass
  • Metal
  • Plastic
  • Others
Breakup by Application
  • Commercial
  • Domestic
Breakup by Distribution Channel
  • Offline
  • Online
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ralph Lauren Corporation
  • Ashley Furniture Industries, LLC
  • MillerKnoll, Inc.
  • Vermont Woods Studios
  • Kimball International Inc. 
  • Hooker Furnishings Corporation
  • Brown Jordan Inc.
  • Bernhardt Furniture Company
  • John-Richard
  • Theodore Alexander USA, Inc.
  • Others

United States Luxury Furniture Market Report Snapshots

United States Luxury Furniture Market Size

United States Luxury Furniture Market Analysis

United States Luxury Furniture Market Share

United States Luxury Furniture Companies

*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

In 2023, the market reached an approximate value of USD 9.82 billion.

The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 13.21 billion by 2032.

The major market drivers are evolving customer preference in interior designing, the rise in disposable income, and the growing number of real estate projects.

The key trends of the market include growing demand for handcrafted luxury furniture, the rising popularity of custom concealment furniture, the rise of the e-commerce sector, and efforts by market players to expand their production capacity.

The major regions in the market are New England, the Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Various products are tables, chairs and sofas, and cabinets, among others.

The key players in the market are Ralph Lauren Corporation, Ashley Furniture Industries, LLC, MillerKnoll, Inc., Vermont Woods Studios, Kimball International Inc., Hooker Furnishings Corporation, Brown Jordan Inc., Bernhardt Furniture Company, John-Richard, and Theodore Alexander USA, Inc., among others.

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30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124