PUBLISHER: The Business Research Company | PRODUCT CODE: 1680417
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680417
Institutional and office furniture encompasses standalone furniture pieces that do not require installation, including items such as computer desks, chairs, file cabinets, tables, and lounge seating.
Two primary categories within this furniture sector are institutional furniture and office furniture. Office furniture comprises standalone furnishings that don't need component parts for installation. These items are crafted from diverse raw materials such as wood, plastic, and metal and are marketed through different channels such as exclusive showrooms, online platforms, supermarkets, hypermarkets, and various other outlets.
The institutional and office furniture market research report is one of a series of new reports from The Business Research Company that provides institutional and office furniture market statistics, including institutional and office furniture industry global market size, regional shares, competitors with institutional and office furniture market share, detailed institutional and office furniture market segments, market trends and opportunities, and any further data you may need to thrive in the institutional and office furniture industry. This institutional and office furniture 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 institutional and office furniture market size has grown strongly in recent years. It will grow from $244.73 billion in 2024 to $264.98 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to corporate expansions and office openings, focus on employee comfort and productivity, globalization of businesses, sustainable and green office practices, corporate rebranding and image enhancement.
The institutional and office furniture market size is expected to see strong growth in the next few years. It will grow to $352.14 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to hybrid work models, wellness-centric office designs, sustainable and circular furniture practices, remote work furniture solutions, innovations in acoustic furniture, focus on workplace diversity and inclusion. Major trends in the forecast period include technology integration in furniture, acoustic solutions for open offices, customization for brand identity, agile furniture for collaborative spaces, inclusive and diverse designs.
The rising demand for online shopping is projected to drive growth in the institutional and office furniture manufacturing market. Manufacturers can now reach a broader audience, expanding their geographic customer base and boosting sales in the furniture manufacturing sector. For instance, in November 2023, the United States Census Bureau, a government agency based in the U.S., reported that retail e-commerce sales reached approximately $284.1 billion during the third quarter of 2023, marking a significant growth of 7.8% compared to the same period in 2022.
The growth of commercial real estate is anticipated to be a significant factor propelling the institutional and office furniture market. Commercial real estate, which includes properties primarily utilized for business or investment purposes, is experiencing growth driven by the demand for office spaces. As businesses, startups, and corporations expand, the need for office furniture such as desks, chairs, conference tables, and storage solutions increases. Notably, in June 2023, industrial commercial real estate observed a substantial rent increase of 10.3%, according to the Motley Fool, a U.S.-based financial and investing advice company. This surge in rent is attributed to the high demand for logistics facilities and limited availability of industrial properties. Additionally, the vacancy rate for industrial real estate is at 4.3%, one of the lowest rates among all commercial real estate categories. The growth in commercial real estate is, therefore, a key driver for the expansion of the institutional and office furniture market.
Furniture manufacturers are increasingly adopting eco-friendly practices in their production processes, driven by rising consumer demand for sustainable and environmentally friendly furniture options. Sustainable practices in furniture manufacturing encompass reducing fuel consumption and recycling wood by-products, as well as sourcing wood from sustainable plantations that adhere to long-term conservation policies. For instance, in November 2023, Furnitech Luxe, a leading manufacturer of premium upholstered furniture in India, launched its latest Boho collection of eco-friendly furniture, adding a stylish touch to the festive winter season. This initiative reflects a broader industry trend toward sustainability in response to evolving consumer preferences.
Prominent players in the institutional and office furniture market are strategically focusing on the development of cutting-edge office furniture solutions to expand their market presence. In July 2023, Knock on Wood LLC, a leading US-based company specializing in kitchen and bath design and remodeling, successfully introduced its highly anticipated office furniture collection. This strategic move by Knock on Wood aims to revolutionize contemporary workplaces, redefining collaborative dynamics in modern office settings. The newly launched office furniture collection seamlessly integrates functionality, practicality, style, and ergonomic design to create inspirational workspaces tailored for today's professionals. Whether it's streamlined desks, efficient workstations, or sophisticated meeting tables, each meticulously crafted piece is designed to elevate productivity and enhance the aesthetic appeal of any office environment.
Major companies operating in the institutional and office furniture market include HON Company, IKEA, Steelcase Inc., Kokuyo Co. Ltd., Okamura Corporation, Haworth Inc., Herman Miller Inc., HNI Corporation, Godrej & Boyce Mfg. Co. Ltd., Itoki Corporation, KI Furniture, Kimball International, National Office Furniture, OFS Brands, Sedus Stoll AG, Vitra, Allsteel Inc, Wilkhahn Wilkening+Hahne GmbH+Co., Teknion, Clarus Glassboards, Groupe Lacasse, Global Furniture Group, Boss Design, Nucraft Furniture, EFG European Furniture Group, Kinnarps Group, Bernhardt Design, Davis Furniture, Artelite, Falcon Products, Fantoni Spa, Friant, Girsberger, Gunlocke Company, Halcon, HBF, HOWE a/s, Humanscale, Jasper Group Brands
Asia-Pacific was the largest region in the institutional and office furniture market in 2024. Western Europe was the second largest region in the institutional and office furniture market. The regions covered in the institutional and office furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the institutional and office furniture market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The institutional and office furniture market consists of sales of office chairs and tables, reception furniture, and retail sales. 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.
Institutional And Office Furniture Global Market Report 2025 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 institutional and office furniture 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 institutional and office furniture ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The institutional and office furniture 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.