CLEVELAND, March 13, 2017 /PRNewswire/ -- US household furniture demand is forecast to reach $34.9 billion in 2021, according to Household Furniture: United States, a report recently released by Freedonia Focus Reports. Robust improvements in the residential housing market are expected to spur sales of household furniture. Increases in disposable personal income will support consumer spending on premium products within this market.
Competition from imports will continue to challenge the industry. However, economic growth in the US and many export markets will support consumer purchases of the high-end and custom pieces that many US producers specialize in.
Demand in the leading product segment – upholstered household furniture – is projected to total $17.4 billion in 2021. Growth in residential improvement activity will support sales, as many consumers purchase new upholstered furniture when updating their living spaces.
This report forecasts US household furniture demand and shipments in US dollars at the manufacturers' level to 2021. Total demand and shipments are segmented by product in terms of:
- nonupsholstered wood
- other household furniture such as metal and rattan
More information about the report is available at https://www.freedoniafocusreports.com/Household-Furniture-United-States-10693811/
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-household-furniture-demand-to-reach-349-billion-in-2021-300422532.html
SOURCE The Freedonia Group