2023 U.S. Industry Statistics & Market Forecast - Upholstered Household Furniture Manufacturing

Published: October 2023

Industry Insights

The Upholstered Household Furniture Manufacturing industry has witnessed significant changes in recent years due to several key trends. First, rising disposable incomes have driven demand for new and improved furniture designs. The emergence of e-commerce platforms has also significantly impacted the industry as more customers purchase furniture online, and manufacturers increasingly rely on e-commerce platforms to reach customers. The advent of technological advancements has also had a significant impact on the industry, such as computer-assisted design software, which enables manufacturers to create highly customized and complex designs.

Another trend in the industry is the sustainable furniture movement, which calls for the use of environmentally friendly materials, such as recycled wood, and environmentally safe production processes. The market for smart furniture has also gained popularity, with the integration of technology enabling the customization of furniture with features like in-built charging ports, smart controls, and wireless connectivity. The rising demand for multifunctional furniture has also impacted the industry as consumers look for furniture pieces that are versatile and adaptable to changing living situations.

The Industry has seen a decline in domestic manufacturing in favor of overseas production, mainly China, where labor is cheaper. Nonetheless, the trade dispute between the US and China has caused manufacturers to consider alternative options, including increasing prices, moving production to other countries, or enhancing production efficiency. Finally, emerging data and analytics trends are at the center of predictive modeling, quality control, and operational excellence for furniture manufacturers. Therefore, manufacturers are investing to leverage data analytics to optimize production processes and improve product quality.

Product & Services Breakdown

Research products and services in the Upholstered Household Furniture Manufacturing industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description	Sales ($ millions)	Percent of Total Sales
Industry Total
Upholstered Household Furniture Manufacturing
Upholstered Household Furniture, Excluding Stock Line Dual-Purpose Sleep Furniture
Dual-Purpose Sleep Furniture (Including Convertible Sofas, Jackknife Sofa And Chair Beds, Studio Couches, And Futons Shipped Wit
Upholstered Household Furniture Manufacturing, Not Categorized, Total
Nonupholstered Wood Household Furniture Manufacturing
Total Miscellaneous Receipts
Resales - Sales Of Products Bought And Sold Without Further Manufacture, Processing, Or Assembly

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

Upholstered Household Furniture Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Upholstered Household Furniture 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 Upholstered Household Furniture 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 Upholstered Household Furniture Manufacturing industry.

Government Contracts

In 2022, the federal government spent a total of $12,327,426 on Upholstered Household Furniture Manufacturing. It has awarded 175 contracts to 56 companies, with an average value of $220,133 per company.   

Most Recent Contracts	Date	Total Award Amount
VALLEY FORGE FABRICS, INC. 1650 West Mcnab Rd Fort Lauderdale, FL	Jun 29, 2023	$1,734