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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
United States Luxury Furniture Market Size
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.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124