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NEW YORK, May 29, 2023 /PRNewswire/ — The home furniture market size in the US is estimated to increase by USD 13.32 billion, accelerating at a CAGR of 3.7% during the forecast. The growth of the market is driven by the improving residential construction market
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US Home Furniture Market– Market dynamics
Leading drivers – Improving residential construction market is notably driving the US home furniture market growth. The growth of the real estate industry in the US is attributed to factors such as the increasing number of households. This, in turn, is boosting the demand for home furniture in the US. The increasing immigrant population in the US is also fueling the rapid growth of the real estate industry.
Key trends – The surging demand for eco-friendly furniture is a key trend influencing the US home furniture market growth. Green furniture or eco-friendly furniture is expected to gain momentum in the coming years, with the rising demand for sustainable products. Awareness about the benefits of using eco-friendly or green furniture has increased.
Major challenges – The inherent threat from re-used furniture market may impede the US home furniture market growth. Many millennials prefer reused or refurbished furniture, especially those with low financial stability. Furniture is no longer considered a one-time investment, as it becomes outdated in a very short span of time with the introduction of newer styles at frequent intervals.
In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, and challenges for the market!
US Home Furniture Market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
US Home…
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