2023 U.S. Industry Statistics & Market Forecast - Household & Institutional Furniture & Kitchen Cabinet Manufacturing

Published: December 2023

Industry Insights

The furniture manufacturing industry is heavily influenced by consumer behavior, emerging technologies, and shifting market trends. Sustainability has become a key focus as consumers increasingly demand environmentally-friendly practices in furniture production. Circular economy models, waste reduction, and the use of recycled materials are becoming more common in the industry.

The rise of e-commerce has also had a significant impact on the furniture industry. Online retailers are growing rapidly, offering furniture at lower prices and disrupting the traditional brick-and-mortar model. Traditional manufacturers are adapting to this shift by investing in online platforms and creating digitally-enhanced furniture.

In addition, the concept of smart furniture is gaining traction. With the integration of smart home technology, furniture can now be designed to be more efficient and functional. For example, tables with charging stations and adjustable standing desks.

Rising labor costs in some countries, including China, have led some manufacturers to shift production to lower-cost regions such as Southeast Asia, Mexico, and Eastern Europe. And, with the ongoing Covid-19 pandemic, the industry experienced some disruptions such as supply chain challenges, increased health and safety regulations, and changes in consumer behavior.

Finally, customization and personalization are becoming more popular as consumers seek unique furniture that reflects their personal style. As a result, furniture manufacturers are offering customization options and design-your-own tools to meet this demand.

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

	Industry Average	Percent of Sales (Industry Benchmark)
Total Revenue	Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit Net Income

Source: AnythingResearch Analysis of U.S. federal statistics

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

Title	Percent of Workforce	Bottom Quartile	Average (Median) Salary	Upper Quartile
Management Occupations	5%	Order at top of page
Chief Executives	0%
General and Operations Managers	2%
Office and Administrative Support Occupations	9%
Production Occupations	61%
Assemblers and Fabricators	13%
Miscellaneous Assemblers and Fabricators	12%
Textile, Apparel, and Furnishings Workers	7%
Woodworkers	26%
Cabinetmakers and Bench Carpenters	18%
Cabinetmakers and Bench Carpenters	18%
Other Production Occupations	8%
Transportation and Material Moving Occupations	8%
Material Moving Workers	6%

Source: Bureau of Labor Statistics

Household & Institutional Furniture & Kitchen Cabinet Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry and adjacent sectors:

Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry	Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.	Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry.

Government Contracts

In 2022, the federal government spent a total of $618,739,213 on Household & Institutional Furniture & Kitchen Cabinet Manufacturing. It has awarded 4127 contracts to 464 companies, with an average value of $1,333,490 per company.   

Most Recent Contracts	Date	Total Award Amount
SCHOOLS IN LLC 10839 Indeco Dr Blue Ash, OH	Jun 30, 2023	$7,055