The continued trend of remote working has made people focus on upgrading their houses to improve the quality of living. In addition, with the housing market continuing to remain resilient, the demand for home furnishings remains high. Furniture and home furnishing sales increased 7.2% in January.
Furthermore, the increased demand for comfortable and high-quality furniture should help manufacturers overcome high lumber prices by raising product pricing. The U.S. furniture industry is projected to generate total revenue of $239.37 billion in 2022 and grow at a CAGR of 3.5% over the next four years.
