Minimalist Furniture Industry Projected to Expand to USD 104.4 Billion by 2033, Ca gunning for a Compound Annual Growth Rate (CAGR) of 7.6%
In the realm of home furnishings, the minimalist segment is experiencing a surge in popularity, particularly in North America. This region, with a 35.5% market share, is estimated to be worth an impressive USD 17.5 billion by 2024.
One of the key players driving this growth is Inter IKEA Systems B.V., which maintains its dominance through an extensive global reach, modular product offerings, and cost-efficient supply chain strategies. IKEA, a subsidiary of Inter IKEA Systems B.V., holds a significant share of the market, estimated at around 20-25%.
Other notable players in the North American market include Williams Sonoma, Inc., through its West Elm and Pottery Barn brands, and MillerKnoll. MillerKnoll targets the upscale minimalist segment with its legacy in ergonomic design and premium aesthetics. West Elm and Pottery Barn, on the other hand, appeal to eco-conscious consumers with sustainable practices and sleek, contemporary designs.
The growth in the North American market is attributed to several factors. High consumer spending on home dΓ©cor, a strong inclination toward modern and space-efficient interiors, and the rising adoption of Scandinavian and Japanese-inspired furniture designs are all contributing to this growth.
In addition, the U.S. plays a dominant role in regional growth, driven by increasing urban apartment living, a robust e-commerce distribution network, and growing consumer demand for functional yet aesthetic home furnishings.
Other companies making waves in the minimalist furniture market include Umbra, which prioritizes affordability and compact design, aligning with urban dwellers' needs. Muji and Acanva Co. strengthen the market through customization, direct-to-consumer models, and enhanced online retail experiences.
Notable developments in the industry include funding rounds for various companies. In 2023, Cityfurnish, a furniture rental startup, raised 2.5 million USD in a funding round. In the same year, Mjuk, a Finnish furniture re-commerce shop, secured 2.5 million euros in funding. In 2025, Wooden Street secured 34 million euros in Series C funding from Premji Invest.
Collaborations between design powerhouses are also shaping the industry. In 2025, Jil Sander collaborated with Thonet to enhance Marcel Breuer's cantilevered S 64 chair.
The global minimalist furniture market is dominated by key players such as Inter IKEA Systems B.V., MillerKnoll, Williams Sonoma, Inc., VITRA INTERNATIONAL AG, Blu Dot Design & Manufacturing, Inc., Umbra, Acanva Co., Muji, BoConcept, and Floyd Home. BoConcept, Floyd Home, and Acanva Co. emphasize customization, direct-to-consumer models, and enhanced online retail experiences.
As the minimalist furniture market continues to evolve, it's clear that innovation, sustainability, and consumer-focused strategies will remain at the forefront.
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