Market Overview 

Office furniture in home settings has slowly become the norm of the evolving market, as consumers spend handsomely to set up home offices with comfortable office chairs and tables generally found in a commercial office complex. As more and more home offices are established owing to the rise in adoption of remote working models, office furniture manufacturers begin to entertain significant volume of orders from homeowners looking to convert at least one room in their residential houses into the office-based workstation. 

Market Dynamics  

The increasing instances of remote working models in enterprises encouraging the establishment of home offices and rising consumer spending for improved comfort during extended work hours from home offices are the primary factors driving the market growth. The establishment of home offices has necessitated the purchase of office essentials for residential use, with comfortable seating chairs and multi-purpose tables and desks with storage facilities assuming vital importance in the evolving role of office furniture procurement installed in home settings. The declaration and participation of several commercial enterprises into the adoption of remote working models, preferentially with employees confined within their home premises, have influenced a surge in demand for home office equipment, bolstering the prospects of market growth. The announcement of possible incentives and financial reimbursements by corporations to encourage employees in indulging towards procurement of office furniture for residential use has further propelled the market growth prospects. However, challenges in product presentation for individual usage and restricted volume of furniture purchase order might hamper the market growth. The limitations in business operations of crucial manufacturers, who are not ideally set up to entertain purchase orders from residential addresses of single individuals, might act as barriers to the market growth. The gradual acceptance among consumers about an extended period of remote working from makeshift home offices, as office furniture assumes a central role in residential buildings, would provide lucrative opportunities for the market in the coming years. 

Market Segmentation 

The global Home Office Furniture market is mainly classified based on Type, Application, and Distribution Channel. Type is segmented into Plastic, Wood, Metal, and Others. By Application, the market is divided into Seating, Storage, and Others. By Distribution Channel, the market is further categorized into Retail Stores, Flagship Stores, Online Stores, and Others. 

The Plastic segment by Type holds a significant market share in terms of the overall value owing to the easy availability of a comprehensive range of product offerings and increased affordability with the cost-effective pricing structure of products. The reduced weight of plastic office furniture and the added feature of multi-functionality associated with such products would further boost the segment growth. 

In terms of Application, the Seating segment is leading in terms of overall volume owing to the constant need and rise in consumer demand for procurement and purchasing of comfortable chairs and seats for long work hours in a residential setting. 

Regional Analysis 

Based on geography, the global Home Office Furniture market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. 

North America is the leading region and holds a substantial share in terms of overall market value owing to the increased establishment of home offices in residential buildings in major countries such as the United States and Canada. The increased regional consumer spending towards the purchase of office furniture for home use would influence a continuance in the growth of the local market during the forecast period.  

Competitive landscape 

The Home Office Furniture market is moderately fragmented, with many global and regional companies engaged in the ever-evolving market scenario with extensive manufacturing capabilities and expansive product delivery networks. 

Key players operating in the Home Office Furniture industry include Ashley Furniture Industries, Inc., Godrej Group, Herman Miller, Inc., HNI Corporation, Inter IKEA Systems B.V., Knoll, Inc., KOKUYO Co., Ltd., La-Z-Boy, Inc., Okamura Corporation, Sears, Roebuck and Co., Steelcase Inc., and Teknion Corporation. 

The launch of new products for improvement in sales volumes and diversification of business opportunities through strategic partnerships are the primarily followed business strategies of top players looking to capture substantial market share during the forecast period. 

Covid-19 Impact Analysis 

The ongoing onslaught of the Covid-19 pandemic on a worldwide basis has instilled a stringent restriction on the movement of goods and people. The initial response against the spread of the virus had been the closure and shutting down of all commercial office complexes in almost all major countries, compelling enterprises to approve remote working models aimed at the continuity of operations from the safety of employees’ houses. The extended periods of lockdown and measures taken against non-essential human contact have ensured long periods of quarantine and self-isolation among the general global population, limiting outdoor activities and necessity of workplace commute in most cases. Such factors have contributed significantly to the establishment of home offices, which in turn has influenced the need for the purchase of office furniture to be used in residential settings. Although the opening of home offices present a steady revenue stream to home office furniture manufacturers, the budgetary constraints of an individual and limited volume of product order would present challenges to the growth of the market in the coming years. 

Home Office Furniture Market Key Segments: 

By Type 

• Plastic 
• Wood 
• Metal 
• Others 

By Application 

• Seating 
• Storage 
• Others 

By Distribution Channel 

• Retail Stores 
• Flagship Stores 
• Online Stores 
• Others 

Key Global Home Office Furniture Industry Players 

• Ashley Furniture Industries, Inc. 
• Godrej Group 
• Herman Miller, Inc. 
• HNI Corporation 
• Inter IKEA Systems B.V. 
• Knoll, Inc. 
• KOKUYO Co., Ltd. 
• La-Z-Boy, Inc. 
• Okamura Corporation 
• Sears, Roebuck and Co. 
• Steelcase Inc. 
• Teknion Corporation 

What Report Provides 

• Full in-depth analysis of the parent Industry 
• Important changes in the market and its dynamics 
• Segmentation details of the market 
• Former, on-going, and projected market analysis in terms of volume and value 
• Assessment of niche industry developments 
• Market share analysis 
• Key strategies of major players 
• Emerging segments and regional growth potential