PUBLISHER: The Business Research Company | PRODUCT CODE: 1605601
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605601
Furniture foam is a soft, flexible material commonly utilized in the construction of upholstered furniture, providing comfort, support, and durability. Available in various densities and firmness levels, this foam is designed to meet the needs of different furniture applications, ensuring long-lasting durability and shape retention. It also absorbs impact, enhancing the overall seating or sleeping experience.
The primary types of furniture foam include polyurethane foam, latex foam, and others. Polyurethane foam is a versatile material renowned for its cushioning properties and adaptability, making it widely used in furniture and insulation for both comfort and durability. It can be categorized into rigid and flexible forms for various applications, including chairs, sofas, beds, recliners, and more. This foam is employed across several end-use sectors, such as building and construction, automotive, hospitals, and others.
The furniture foam market research report is one of a series of new reports from The Business Research Company that provides furniture foam market statistics, including furniture foam industry global market size, regional shares, competitors with an furniture foam market share, detailed furniture foam market segments, market trends, and opportunities, and any further data you may need to thrive in the furniture foam industry. This furniture foam market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The furniture foam market size has grown strongly in recent years. It will grow from $55.37 billion in 2023 to $58.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed during the historical period can be attributed to several factors, including the rising demand for comfortable and durable furniture, an increasing consumer preference for customizable furniture solutions, higher disposable incomes leading to greater spending on home furnishings, a growing real estate sector that boosts furniture sales, and heightened awareness of the health benefits associated with high-quality foam products.
The furniture foam market size is expected to see strong growth in the next few years. It will grow to $74.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth during the forecast period can be attributed to several factors, including the expansion of e-commerce platforms that facilitate furniture purchases, a surge in home renovation and interior design activities, a growing emphasis on sustainable and eco-friendly materials in furniture, and the growth of the hospitality and healthcare sectors that require specialized foam solutions. Additionally, advancements in foam technology are enhancing product performance and comfort. Key trends expected during this period include the rising popularity of memory foam and gel-infused products, increasing integration of smart technology in furniture designs, a growing preference for modular and multifunctional furniture, the expansion of online retail channels for foam products, and a heightened focus on recycling and sustainable production practices within the foam industry.
The growth of residential and commercial building projects is expected to drive the furniture foam market in the coming years. Residential buildings include structures primarily designed for living, such as houses, apartments, and condos, while commercial buildings serve business purposes, including offices, retail stores, and warehouses. The increase in such construction projects is largely due to factors such as economic growth, supportive government policies, and post-pandemic recovery efforts. Furniture foam plays a critical role in both residential and commercial projects, providing seating, mattresses, and cushioning that enhance comfort and durability in furniture and interior design. For example, in July 2024, Trading Economics, a U.S.-based economic indicator organization, reported that sales of single-family houses rose from approximately 621,000 units in May 2024 to 739,000 units in July, marking a 7.6% increase from May to June, followed by an additional 10.6% rise from June to July. Thus, the growing number of residential and commercial buildings is driving demand in the furniture foam market.
Leading companies in the furniture foam market are concentrating on creating advanced materials, such as recycled polyurethane (PU) foam, to establish a competitive edge. Flexible polyurethane (PU) foam is a lightweight and versatile material that finds extensive use across several industries, particularly in furniture, bedding, automotive, and packaging. It is produced by combining polyols and diisocyanates in a chemical reaction, resulting in a foam that is both flexible and resilient. For instance, in January 2024, The Vita Group, a UK-based manufacturer of flexible PU foam solutions, introduced Orbis, a flexible polyurethane foam that incorporates post-consumer foam mattresses. This eco-friendly option helps minimize landfill waste and incineration while maintaining the quality, durability, and comfort typical of traditional PU foam. The Vita Group emphasizes that Orbis aids in reducing carbon footprints and supports a circular economy, aligning with global sustainability objectives. The foam is suitable for both bedding and furniture applications and is available commercially in standard ether and high-resilience variants.
In July 2024, Domfoam Inc., a Canadian manufacturer of polyurethane foam, acquired Foamco for an undisclosed sum. This acquisition enables Domfoam to enhance its production capacity, providing a competitive advantage by offering customers an additional manufacturing option. Foamco specializes in a variety of foam products, including furniture foam.
Major companies operating in the furniture foam market are BASF SE, The Dow Chemical Company, Huntsman International LLC, Carpenter Co., Recticel, Future Foam Inc., Sheela Foam Ltd., Flexible Foam Products Inc., Foamcraft Inc., EPE International Ltd., Vitafoam Nigeria Plc, Raunak Group, Foam Products Corporation, Cenflex, COZILY, Master Foam, American Foam Products Inc., GIANTEX, Forever Enterprises, FEBERICA, FOVERA
Asia-Pacific was the largest region in the furniture foam market in 2023. The regions covered in the furniture foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the furniture foam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The furniture foam market consists of sales of viscoelastic foam, gel memory foam, and chip foam. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Furniture Foam Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on furniture foam market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for furniture foam ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The furniture foam market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.