We continue to see employees return to the office — but with increased flexibility to work remotely in some form.  Tracking U.S. work locations (remote-capable jobs), recent indicators by Gallup show 52% worked hybrid, roughly 20% on-site and 29% exclusively remote. Advantages of working in a hybrid setting include the freedom to choose when or where to work, while challenges cited by survey respondents include less access to work resources and reduced cross-functional collaboration. Interestingly, Gallup’s State of the Global Workplace 2023 Report found no significant difference in the stress levels felt by employees working exclusively remotely, hybrid or on-site.

Flexibility is key, and at on-site offices the design trend for “office neighborhoods,” is gaining traction. Eden identifies three types: team-oriented neighborhoods, i.e., putting specialized groups or teams together, such as marketing; task-oriented neighborhoods, in which areas are set up for brainstorming or collaboration; and open neighborhoods, which are free-form areas.

With regard to trends in furniture manufacturing, consolidation continues to reshape the industry, including by some of North America’s largest manufacturers in the FDMC 300.

Click on the infographic to enlarge. Find more market data in the December 2023 FDMC Wood Industry Almanac.

Quick Stats (Includes items not shown in print.)
• The global office furniture market, estimated at $50 billion (USD) in 2023, is projected to expand at 7% CAGR  through 2033, reaching $98 billion, according to FactMR. Growth is being driven by the changes in the office structure, making them more modular and integrated.

• The global hospital furniture market is projected to rise by $7.83 billion USD between 2022 to 2027, at a CAGR of 8.38%. North America is estimated to contribute 32% to the growth of the global market during the forecast period according to Technavio.

• The global hotel furniture market, valued at $6.4 billion in 2021, is expected to rise at a CAGR of 4.73% reaching $8.5 billion USD by 2027, according to 360 Market Updates.

• The $9.80 billion global office chairs market will grow 7.05% CAGR (2023-2033), says Evolve Business Intelligence.

• The global home office furniture market is expected to grow from $29.001 billion USD in 2022 to $43.165 billion in 2027 at a CAGR of 8.3%. According to an update from The Business Research Co., the market is expected to grow at a CAGR of 8.4% from 2027 to 2032 and reach $64.751 billion.

• Productivity differs by generation when working from home, with Baby Boomers feeling the most productive and Gen Z the least, according to Provoke Insights’ Consumer Trends: Employee Workspace (Winter 2023). An estimated 65% of Baby Boomers said they felt productive, compared to 59% Gen X, 50% Millennials, and 23% Gen Z.

Market Data Sources: Business & Institutional Furniture Manufacturers Assn. (BIFMA), S&P Global Market Intelligence, Eden Workplace, Gallup, StatCan/Statistics Canada, U.S. Census Bureau/USA Trade Online, Statista, FactMR, Technavio, Evolve Business Intelligence, 360 Market Updates, The Business Research Co., Provoke Insights. Category: Contract furniture includes: business/office furniture, government furniture, home office, education furniture, healthcare furnishings, institutional furniture, hospitality furniture.

More data on North American woodworking and the specific wood product market segments can be found in the December 2023 FDMC Wood Industry Almanac. Also, find market data year-round at WoodworkingNetwork.com/news/almanac-market-data.