Global Work From Home Furniture Market

Work From Home Furniture Market- Global Industry Size, Share, Trend Analysis, Opportunity and Forecast, 2017-2027, Segmented By Type (Sofa, Chair, Recliner, Study Table, Bean Bag, and Others); By Material (Wood, Plastic, Leather, Metal, and Others); By Distribution Channel (Showrooms, Supermarket/Hypermarket, Retailers, and Online Stores); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America)

  • Published Date: October 2021
  • Report ID: BWC21125
  • Available Format: PDF
  • Page: 195

Report Overview

Global work from home furniture market is anticipated to grow as companies increasingly adopt remote working practices and cloud-based solutions. Also driving the market growth is the growing trend of multi-functional furniture.

Global Work From Home Furniture Market- Industry Trends & Forecast Report 2027

Global work from home furniture market is expected to grow at a healthy a CAGR of 6.5% during the forecast period (2021-2027). Growth in the market is attributed to the adoption of cloud-based solutions by different organizations. Furthermore, the market growth accelerated as a result of the COVID-19 pandemic. Several governments worldwide imposed nationwide lockdowns during the initial phase of the pandemic due to the sudden spike in COVID-19 cases. As a result, most companies announced work from home culture, which has driven the growth of the work from home furniture market globally.

Global Work From Home Furniture Market Overview

Work from home furniture is a piece of furniture for people who work from home rather than at an office. Work-from-home furniture includes chairs, bean bags, study tables, sofas, storage cabinets, and others. Work-from-home furniture is the most important aspect of a home office. The workspace creates an office-like ambiance, which facilitates efficiency and makes working more enjoyable. Moreover, proper work-from-home furniture supports proper posture and provides sufficient comfort for long working hours while working remotely. Additionally, work-from-home furniture provides a comfortable working environment and creates the feeling of an actual office environment.

Global Work From Home Furniture Market Trend

Growth Drivers

The Ongoing COVID-19 Pandemic Drives the Growth of the Market

Since the COVID-19 outbreak broke out globally, governments in developing and developed economies have imposed a complete lockdown. The COVID-19 standards required only essential services industries to remain open during a lockdown. Consequently, remote working has become the norm for most IT professionals. Tech companies like Apple, Google, Facebook, and Microsoft, which have significant populations in Seattle and other pandemic-affected locations, were among the first to implement remote work arrangements. For instance, due to the pandemic, Amazon recommended that all employees in their Seattle office work from home, leaving much of downtown deserted. Consequently, the work from home furniture market has seen potential growth due to the pandemic.

Work From Home Provides Flexibility to Employees

Microsoft reported that 73% of its 30,000 employees in 31 countries want to continue working remotely. Remote and flexible workers tend to be happier and more loyal employees, in part because work from home lowers stress, allows for more hobbies and interests, and improves personal relationships, among other benefits. For example, a leading work-from-home furniture company, Godrej, reported a 5-10 times increase in sales of work-from-home furniture since the lockdown. Thus, employees are now more open to working from home, as evidenced by this statistic. These are the key factors driving the work from home furniture market across the globe.

Restraints

Environmental Restrictions Owing to Deforestration

Environment restrictions that lead to deforestation and harm the natural flora and fauna have hindered the growth of work from home furniture market. Cutting down trees on a large scale may cause global warming, further encouraging temperature changes and altering ecosystems. The loss of habitat for animals is also a consequence. National Geographic reports 70% of the planet's land animals, and plants live in forests, and many of them cannot survive the destruction of their habitats. As a result, the growth of the work from home furniture market is constrained by the factors stated above.

Impact of COVID-19

The pandemic has slowed various businesses around the world. Nonetheless, the pandemic has a mixed impact on the work from home furniture market. As a result of the lockdown, several industries and commercial buildings had to halt their business. Many IT firms have also announced work-from-home policies. Tech giants such as Apple, Google, Microsoft, Amazon, Adobe, and others have encouraged the adoption of work-from-home culture to decrease the spread of the virus. Because of this, employees have set up offices or workstations in their homes to work seamlessly.

Global Work From Home Furniture Market: By Type

Based on types, the work from home furniture market is grouped into sofa, chair, recliner, study table, bean bag, and others. In 2020, the chair segment accounted for the largest share in the work from home furniture market. Chairs are the most used and convenient furniture that has been used for working. At the moment, ergonomic chairs are quite popular as they alleviate the strain of working at home. Pepperfry, a leading company in work-from-home furniture market, stated that chairs and study tables' demand increased by 250% to 400% respectively in August 2020, compared to the pre-covid times.  As a result of the surge in orders, the chair segment generated significant revenue in the work from home furniture market.

Work From Home Furniture Market

Source: BlueWeave Consulting

Global Work From Home Furniture Market: Regional Insights

Geographically, the work from home furniture market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. North America accounted for the largest share in the work from home furniture market in 2020. The growth in this region is majorly due to the large number of companies operating in North America. Moreover, Silicon Valley, where most IT companies have their bases, is also located in the United States. Additionally, America was one of the first countries to announce lockdowns. Because of this, many companies began to encourage employees to work from home. This led to the growth of the work from home furniture market in the region.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

Some of the key players in the work from home furniture market are Poltrona Frau, Herman Miller, Knoll, Inc., KOKUYO Furniture, Haworth Inc., Inter IKEA Group, Ashley Furniture Industries, Sears Holdings, Masco Corporation, Kimball International, Inc., Pepperfry, Nilkamal Limited, Godrej & Boyce Manufacturing Company Limited, La-Z-Boy Incorporated, Flexsteel Industries, Inc, Williams-Sonoma, Inc., and other prominent players. Because work from home furniture has a high production and implementation cost, the key players are heavily investing in R&D to better optimize work from home furniture production. The COVID-19 has also positively influenced the growth of work from home furniture market.

Recent Developments

  • October 2021: Vari has introduced its first line of office furniture – the Essential Collection – designed especially for home use. The company offers easy-to-use, quality products at an affordable price to make home workspaces more efficient.

 

  • In July 2021: Herman Miller announced that they have successfully completed the acquisition of Knoll, which is a prominent leader in creating attractive furniture design.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, Australia, China, India, UAE, South Africa, Saudi Arabia,

Product/Service Segmentation

By Type, Component, End-User, Technology,  Applications and Region

Key Players

Key Players for the market are Poltrona Frau, Herman Miller, Knoll, Inc., KOKUYO Furniture, Haworth Inc., Inter IKEA Group, Ashley Furniture Industries, Sears Holdings, Masco Corporation, Kimball International, Inc., Pepperfry, Nilkamal Limited, Godrej & Boyce Manufacturing Company Limited, La-Z-Boy Incorporated, Flexsteel Industries, Inc, Williams-Sonoma, Inc and other prominent players

 

By Type

  • Chair
  • Recliner
  • Study Table
  • Bean Bag
  • Others

By Material

  • Wood
  • Plastic
  • Leather
  • Metal
  • Others

By Distribution Channel

  • Showrooms
  • Supermarket/Hypermarket
  • Retailers
  • Online Stores
  • Others

By Region

  • The Asia-Pacific
  • North America
  • Europe
  • The Middle East & Africa
  • Latin America