The Furniture Industry is Growing: Here's What to Expect in 2022

It’s clear that the furniture industry has been growing steadily over the past few years, and there are no signs of slowing down anytime soon. Between new brands emerging on the market to technological advances in the way we build our furniture, this field is changing fast and has never been more exciting to watch! To keep pace with everything going on, here’s what you can expect from this industry in 2022.

The demand for natural materials

The biggest demand factor for furniture will be natural materials. They are easy on our health and sustainable. The effects of using non-natural materials on our health have been long understudied, but evidence shows that exposure to non-natural chemicals can be detrimental to human health as well as undesirable for us as consumers. Plus, using natural materials not only supports our health but also benefits biodiversity by encouraging responsible tree harvesting.

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Manufacturing innovations

Innovation has been a driving force for global furniture companies. Technology and designs from outside of furniture have seeped into furniture manufacturing, which will continue to push innovation forward through better design and superior manufacturing techniques. This puts more pressure on brands, which must innovate to stand out. While traditional manufacturing methods are still important and will not change overnight, new processes should be incorporated as they become available and cost-effective.

Changes to the home decor market

Home decor will likely experience some shifts over the next five years. Natural furniture—i.e., wooden tables, chairs, and benches made of unpainted, unvarnished wood—will likely become more popular. These products have grown rapidly over the past decade but only account for around 25% of the market; they are expected to gain further market share by 2022.

Focus on health and well-being

The fastest-growing category of furniture and furnishings will be health and well-being, specifically tailored to office, dining, living and bedroom use. According to a 2016 Global Industry Analysts report, healthy furniture could account for nearly 25 per cent of Office furniture sales by 2018, which makes sense—there’s currently a £6 billion industry focused on employee health. Organizations know how important it is for workers to have healthy (and not-so-healthy) options when it comes time for meals or breaks.

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Changes in household spending patterns

As people across all income levels have become more concerned about sustainable living and have embraced technology that allows them to work from home, many have started purchasing furniture online. As a result, furniture sales are predicted to grow significantly over the next several years. In fact, according to recent research from IBISWorld, household spending on furniture in 2022 will total £299 billion. This represents an annual growth rate of 5.1 per cent of the fastest-growing industries in our economy.

Improved security systems, safety equipment, and fireproofing for homes

Many experts expect new safety equipment and fireproofing materials will drive massive growth for furniture manufacturers, allowing homeowners to make their homes as safe as possible. This should lead to more sales of security systems and home fire-proofing products. Additionally, there’s growing pressure for schools and office buildings to equip their facilities with advanced security systems; these same companies will likely outsource production of these specialized pieces, leading directly to more furniture orders.

The customer base will expand with renovation, new construction, modern trends, and green building initiatives

As green building initiatives and new construction projects ramp up, demand for sustainable furniture will increase. Renovation and repurposing initiatives should also drive growth. Both of these trends will result in more homeowners creating homes that are appropriate for their lifestyle and needs, thereby increasing sales potential.

The increased popularity of co-working spaces with shared office furniture options

A well-designed office with an eye on a budget can be an enticing choice for new businesses. One of those options is co-working spaces with shared office furniture, which provide affordable workspace and shared amenities (such as printers and Wi-Fi) along with common meeting rooms, conference areas, and break rooms.

Work-from-Home improved it nicely

According to a report from FlexJobs, job opportunities within work-from-home arrangements grew by 57 per cent in recent years demands for furniture used in working from home also increased which become one of the biggest reasons for the increase in furniture requirements in 2022. The Furniture Industry is Growing: Here's What to Expect in 2022.

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