The global furniture market has witnessed tremendous growth, leading to outstanding profits for the top 10 furniture brands in the world — who are leading the way for the industry in 2020. The global furniture market share is to be worth USD 472.30 Billion by 2024 and is expected to grow at a CAGR of 5.2% by 2024. The largest factor driving growth in the market is due to significant demand from the younger generation — led by the best furniture brands in the world mentioned in this article. The increasing popularity of online retail stores to support market growth in North America is another factor greatly contributing to the growth of the global furniture market.
Growing demand for domestic furniture continues to dominate that market and the top furniture brands in the world are aware of this. The top 10 furniture brands in the world are meeting consumer and market demand with multi-functional furniture that includes various features such as the maximum storage facility, stylish design, and innovative space-saving designs that are driving the global furniture market growth.
This fact sheet is to assist B2B buyers and sellers figure out the ins and outs of the global furniture market including:
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The global furniture market is growing at an amazing rate — expected to grow at a CAGR of 5.2% from this year to 2024. In addition to CAGR growth, the global furniture industry market size is expected to grow from USD 331.21 billion in 2017 to 472.30 billion by 2024. In addition to significant demand from a younger demographic, other factors influencing growth are the increasing demand from Asian countries such as China and India, and rising disposable income all over the world. Furniture can be both luxurious or affordable and practical. There is a market for all types of furniture — leading to living room furniture brands, bedroom furniture brands, luxury furniture brands, office furniture brands, outdoor furniture brands, and quality furniture brands all dominating the global furniture market.
The top 10 furniture brands in the world for 2020 have most been dominating the market for decades. This is BizVibe’s list of the best furniture brands in the world today.
What are the top 10 furniture brands? The following furniture brands list has resulted from detailed research BizVibe has conducted.
IKEA is one of the largest furniture brands in the world as of 2020, and a manufacturer and supplier of ready-to-assemble furniture and homeware. IKEA was founded 76 years ago by Ingvar Kamprad with its first store in Älmhult, Småland. IKEA is headquartered in Delft, Netherlands, and operates 433 locations worldwide in 52 countries.
IKEA is one of the top 10 furniture brands in the world due to its large online presence. IKEA’s website has over 12,000 listed products that generate 2.1 billion visitors per year.
IKEA’s branding is known for not being pre-assembled, as much of its furniture is designed to be assembled. The main reason for this is to provide affordable products to its consumers by reducing costs.
Number of employees at IKEA: 211,000
IKEA Revenue: US$45.4 billion
Ashley HomeStore is an American furniture store chain and a manufacturer of furniture products. Ashley HomeStore was founded 23 years ago in 1997 in Anchorage, Alaska, U.S. Ashley HomeStore’s headquarters are in Brandon, Florida, U.S.
Currently, Ashley HomeStore is the #1 home furniture retailer in North America and one of the top 10 furniture brands in the world. In addition to the United States, Ashley HomeStore has stores located in 1,000s of locations worldwide including Canada, Mexico, Central America, Japan, Kazakhstan, Singapore, Saudi Arabia, and Bangladesh.
Number of employees at Ashley HomeStore: 4,000
Ashley HomeStore Revenue: $3.3 billion USD
Ashley HomeStore’s parent company is Ashley Furniture Industries, the world’s largest home furniture manufacturer with revenues of $4.7 billion USD, with over 23,000 employees.
One of the fastest-growing companies in the world, Restoration Hardware is an upscale American home-furnishings company headquartered in Corte Madera, California. Restoration Hardware sells furniture online, through its retail stores and their catalog.
Founded in 1979 in Eureka, California, and currently, with headquarters in Corte Madera, California, United States, Restoration Hardware operates 36 outlet stores in the United States and Canada. Restoration Hardware is also known as one of the top luxury furniture brands in the world. The company’s focus is geared towards higher price points with its furniture gallery offerings.
Number of employees at Restoration Hardware: 2,920
Restoration Hardware Revenue: $2,135 Million
4th on BizVibe’s best furniture brands list is Kartell. Kartell is an Italian company that makes and sells plastic contemporary furniture. Kartell was founded by Giulio Castelli and Anna Castelli Ferrieri in 1949, with its current headquarters in Noviglio, Italy. Kartell is one of the top 10 furniture brands in the world known for stocking their items in a variety of colors and styles. Kartell’s main draw is its creativity, and being a leader in furniture design.
The company grosses $100 million per year. In addition to its own stores, Kartell furniture products are sold by more than 150 independent retailers in the United States.
5th on the list of the top 10 furniture brands in the world is Williams-Sonoma, Inc., an American consumer retail company that sells kitchenwares and home furnishings. Williams-Sonoma started back in 1956 in Sonoma, California by Charles E. Williams. Headquartered in Van Ness Avenue, San Francisco, California, Williams-Sonoma is one of the largest e-commerce retailers in the world and one of the biggest multi-channel specialty retailers in the world.
Williams-Sonoma operates multiple company brands including:
Number of employees at Williams-Sonoma, Inc.: 19.350
Revenue at Williams-Sonoma, Inc.: $4.4 billion
La-Z-Boy is a staple name in North America known for its comfortable upholstered recliners, sofas, stationary chairs, lift chairs and sleeper sofas. Founded back in 1927 and currently headquartered in Monroe, Michigan, La-Z-Boy is 6th place in our list of the best furniture brands in the world.
La-Z-Boy is known for operating multiple company units, the company is divided into three reportable operating segments: the Upholstery Group, the Casegoods Group, and the Retail Group.
Number of Employees at La-Z-Boy: 8,950
Revenue at La-Z-Boy: US$1.52 billion
Raymour & Flanigan, headquartered in Liverpool, New York, U.S, is an American furniture retail chain. 7th on BizVibe’s list of the top 10 furniture brands in the world, Raymour & Flanigan Furniture is the largest furniture retailer in the Northeast.
Raymour & Flanigan’s product line includes home furniture including living room, dining room, and bedroom furniture and mattresses.
Number of Employees at Raymour & Flanigan: 5,000
American Signature is 8th on the list of the top 10 furniture brands in the world in 2020. American Signature was founded in 1948 by Jerome Schottenstein is a privately owned furniture company based in Columbus, Ohio.
American Signature operates in about 19 U.S. states with over 120 locations worldwide. As one of the best furniture brands in the world, American Signature is known for its multi-faceted options to its consumers.
Founded by The Roche and Chouchan families in 1960, Roche Bobois is a French retailer of top-end furniture. The company has now opened its first showroom in Japan, adding to a network of more than 250 showrooms in 55 countries.
Number of employees at Roche Bobois: 800
Operating income: 459 million euros
Founded in 1932, Ethan Allen is an American furniture chain that operates 300 stores across the USA, Canada, Asia, Europe, and the Middle East. The company was founded by Nathan S. Ancell and Theodore Baumritter and currently has headquarters in Danbury, Connecticut.
Number of employees at Ethan Allen: 5,200
Revenue at Ethan Allen: US$ 763.38 million
These are the top 10 furniture brands in the world in the world as of 2020 according to BizVibe. These companies are not only the best-rated furniture manufacturers and brands but also the companies pushing the industry forwards and towards great success.
Bassett Home Furnishings
Bradington & Young
Crate & Barrel
Thomasville Furniture Industries
Smith Brothers of Berne
The top furniture brands in the world are always looking to expand their business internationally, however, targeting the correct market is crucial to success in these potential business ventures.
Total Exports (US$ Billions)
The following value of global furniture imports and market change illustrate the current trends of trading within the furniture industry.
Total Imports (US$ Billions)
Source: International Trace Centre (ITC)
The top 10 furniture brands in the world will continue to succeed and propel the global furniture market forward. This factsheet has detailed who the top 10 furniture brands in the world are, in addition to promising import and export opportunities in the market. Use BizVibe to connect with the best furniture brands in the world today and get ahead of the B2B goals for 2020 starting today.