Portland, OR, April 20, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the U.S. home furniture and bedding industry was estimated at $138.18 billion in 2019, and is expected to garner $183.48 billion, manifesting a CAGR of 3.07% from 2021 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Rise in sales of new and existing residential homes, increase in spending on home improvement and home décor, and surge in urbanization drive the growth of the U.S. home furniture and bedding market. Furthermore, rapid adoption of online sales channels and growth in consumer interest toward home décor fuel the growth of the market. On the other hand, rise in cost of raw material restrains the market growth. Conversely, rapid growth of the retail sector and improvement in lifestyle due to rise in disposable income are expected to usher an array of opportunities for the market players in the future.
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Covid-19 scenario:
- The outbreak of COVID-19 impacted the market with partial or complete shutdown of production facilities and disrupted supply chain.
- The consumers have actively got involved in home designing, remodeling, and renovation during the lockdown period. Which in turn has increased the demand for home…
