Office Furniture Market Size, Share, Forecast, & Trends Analysis by Product (Chairs, Desks & Tables, Storage, Lounge), Material (Wooden Furniture, Plastic & Fiber Furniture, Resin Furniture), Distribution Channel (Online, Offline), and Geography - Global Forecast to 2031

Office Furniture Market Size & Forecast

The Office Furniture Market is expected to reach $110.7 billion by 2031, at a CAGR of 6.9% from 2024 to 2031.The growth of the office furniture market is driven by corporate expansion, growing numbers of startups, and the rising demand for convenient, comfortable, and furnished environments for employees. Furthermore, the increasing adoption of ergonomic chairs is expected to generate growth opportunities for the players operating in this market.

Office Furniture Market Growth Drivers

Corporate Expansion and Growing Numbers of Startups

Corporate expansion and the rise of startups contribute significantly to the demand for office furniture with the growing expansion of corporations and new startups that require larger office spaces to accommodate their growing workforce. This helps to boost the demand for office furniture such as desks, chairs, and cubicles to furnish these new spaces. Additionally, established companies are increasingly expanding their operations, increasing their need to accommodate more employees, which increases the need for more office furniture. Similarly, startups often invest in office upgrades to attract talent and create an appealing workspace. This drives the demand for new office furniture.

Moreover, established corporations and startups recognize the importance of office aesthetics and employee comfort in promoting productivity and well-being. Thus, they are investing in high-quality ergonomic furniture to enhance their brand image and increase employee satisfaction and retention.

Rising Demand for Convenient, Comfortable, and Furnished Environment for Employees

In recent years, the rising demand for a convenient, comfortable, and furnished environment for employees is important for companies. Employers are increasingly recognizing that a comfortable work environment directly impacts employee well-being and productivity. Thus, corporations are increasingly providing ergonomic furniture, adjustable workstations, and comfortable seating that help to reduce discomfort and fatigue, leading to higher job satisfaction and improved performance.

Additionally, in a competitive job market, companies strive to attract and retain top talent. Thus, the companies offering a well-furnished workspace demonstrate a commitment to employee satisfaction and can be a significant factor in recruiting efforts. Hence, the rising demand for a convenient, comfortable, and furnished environment for employees reflects a broader shift toward prioritizing employee well-being, productivity, and satisfaction in the workplace. Thus, such growing demand to make the office environment creative and comfortable helps to increase the growth of the office furniture market during the forecast period.

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Office Furniture Market Opportunity

Increasing Adoption of Ergonomic Chairs

Ergonomic chairs are a type of chair that supports the natural 'S' shape of the spine, which prevents slumping and reduces stress on the spine and the pelvis. In recent years, companies have increasingly used ergonomic chairs in the workplace to maintain good posture and reduce the risk of musculoskeletal disorders (MSDs) among office workers. Ergonomic chairs can enhance comfort by providing adjustable features such as seat height, lumbar support, armrests, and tilt mechanisms, allowing users to customize their seating position according to their individual preferences and ergonomic needs. Additionally, several countries have regulations and guidelines in place to protect workers from ergonomic-related injuries in the workplace. Employers are increasingly recognizing the importance of complying with these regulations to avoid potential legal liabilities and worker compensation claims by providing ergonomic chairs for their employees.

Moreover, with the increasing adoption of ergonomic chairs, several manufacturers are continually innovating to improve their design and functionality. For instance, in September 2023, Steelcase Inc. (U.S.) launched the Steelcase Karman, a first-of-its-kind ergonomic chair. Steelcase Karman is designed to naturally respond to the body’s movement and deliver comfort in an entirely new way. Such growing developments help to increase the demand for ergonomic chairs, which helps boost the demand for office furniture during the forecast period.

Office Furniture Market Analysis: Key Findings

By Product: In 2024, the Chairs Segment to Dominate the Office Furniture Market

Based on product, the office furniture market is segmented into chairs, desks & tables, storage, lounge, and other products. In 2024, the chairs segment is expected to account for the largest share of above 53.0% of the office furniture market. The segment's large market share is attributed to the growing need to reduce the risk of muscle strains, back pain, and neck pain; the adoption of high-quality office chairs to withstand frequent use over an extended period; and the increasing investment in quality office chairs to enhance the overall appearance of the workplace.

However, the lounge segment is expected to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing use of lounges to provide employees with a designated space to relax and for informal meetings, individual work tasks, and social gatherings.

By Material: In 2024, the Plastic & Fiber Furniture Segment to Dominate the Office Furniture Market

Based on material, the office furniture market is segmented into wooden furniture, metallic furniture, glass furniture, plastic & fiber furniture, and resin furniture. In 2024, the plastic & fiber furniture segment is expected to account for the largest share of above 30.0% of the office furniture market. The segment's large share is attributed to the fact that plastic & fiber furniture is more affordable than traditional materials like wood or metal. Plastic & fiber furniture is lightweight and easy to move, allowing for effortless rearrangement and flexibility in office layouts; the increasing need to use eco-friendly options of furniture made from recycled materials or sustainable sources also contributes to the segment’s large share.

However, the resin furniture segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to resin furniture being highly durable and resistant to wear and tear, making it well-suited for high-traffic areas in offices. The increasing demand for a wide range of designs, colors, and styles to suit different office aesthetics and preferences and resin furniture being resistant to corrosion and rust, making it suitable for use in humid or coastal environments, contribute to the high growth of the segment.

By Distribution Channel: In 2024, the Offline Segment to Dominate the Office Furniture Market

Based on distribution channel, the office furniture market is segmented into online and offline. In 2024, the offline segment is expected to account for the larger share of above 58.0% of the office furniture market. The segment's large market share is attributed to offline stores helping customers physically inspect and test the furniture before making a purchase; offline stores providing personalized assistance from sales representatives or interior design; and the increasing adoption of offline purchases for discounts and special pricing for bulk purchases of office furniture.

However, the online segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing growth of the e-commerce industry; the use of online purchase of office furniture allowing customers to browse and purchase from the comfort of their office, and the online sales platforms providing transparent pricing information, allowing customers to compare prices across different sellers.

Geographical Analysis

In 2024, Asia-Pacific Region to Dominate the Office Furniture Market

In 2024, Asia-Pacific is expected to account for the largest share of above 45.0% of the office furniture market. Asia-Pacific’s significant market share can be attributed to the increasing number of the working population; the growing expansion of corporate offices in the region; the increasing number of office furniture manufacturers and exporters in the region; and the growing number of business zones and IT parks.

Also, this region is expected to register the highest CAGR of above 8.0% during the forecast period.

Office Furniture Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the office furniture market are Haworth, Inc. (U.S.), Steelcase Inc. (U.S.), Okamura Corporation (Japan), MillerKnoll, Inc. (U.S.), KOKUYO Co., Inc. (Japan), Global Furniture Group (U.S.), Vitra International AG (Germany), Meridian Office Furniture Limited (U.K.), D3, Inc. d.b.a. 9to5 Seating (U.S.), Berco Designs (U.S.), Hooker Furnishings Corporation (U.S.), Kimball International, Inc. (U.S.), and HNI Corporation (U.S.).

Office Furniture Industry Overview: Latest Developments from Key Industry Players

• In July  2023, Knock on Wood (India) launched its highly anticipated collection of office furniture. The new office furniture collection from Knock on Wood combines functionality, practicality, style, and ergonomics to create an inspiring workspace for modern professionals.

• In June 2023, Humanscale Corporation (U.S.) launched an inclusive task chair, the ‘Path.’

Office Furniture Market Research Summary:

Key questions answered in the office furniture market report: