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  • Published On : Sep 2023
  • Code : CMI6268
  • Pages : 140
  • Formats :
      Excel and PDF
  • Industry : Consumer Goods

The global console table market size is expected to grow from US$ 4.64 billion in 2023 to US$ 6.70 billion by 2030, at a CAGR of 5.4% during the forecast period. The growth of the market is driven by factors such as increasing disposable incomes, growing demand for home décor, and rising popularity of console tables as a storage and display unit.

The market is segmented by type, material, application, and region. By type, the market is divided into wooden, metal, and glass console tables. The wooden console tables segment is expected to dominate the market during the forecast period, owing to the high demand for wooden furniture in residential and commercial settings.

Console Table Market Regional Insights

  • North America is expected to dominate the market during the forecast period, with a market share of 35% in 2023. The growth of the market in North America is attributed to the high disposable incomes and growing demand for home décor in the region. The United States is the major market for console tables in North America, followed by Canada and Mexico.
  • Europe is expected to be the second-largest market for console tables, with a market share of 25% in 2023. The growth of the market in Europe is driven by the increasing demand for home décor and the growing popularity of console tables as a storage and display unit. Germany, the United Kingdom, and France are the major markets for console tables in Europe.
  • Asia Pacific is expected to be the fastest-growing market for console tables, with a CAGR of 6% during the forecast period. The growth of the market in Asia Pacific is attributed to the rising disposable incomes and growing demand for home décor in the region. China, India, and Japan are the major markets for console tables in Asia Pacific.

Figure 1. Global Console Table Market Share (%), by Region, 2023 

 | Coherent Market Insights

Console Table Market Drivers

  • Rising Residential Construction: The growth in residential construction is a major driver for the console table market. With more homes being built to accommodate the rising population and increasing number of households, it is creating demand for console tables as essential furniture for living rooms, foyers, bedrooms, and other spaces.
  • Growth of Online Furniture Retail: The furniture industry has witnessed a major shift to online retail channels. The growing penetration of internet and smartphones has led several furniture companies to sell through their own websites and online marketplaces. This omnichannel approach provides wider visibility and easier access to products like console tables for time-pressed urban consumers.
  • Multifunctional and Innovative Designs: Console tables are gaining popularity due to their multi-functional and adaptable nature. They serve various needs beyond accent display, such as extra storage, workspaces, quick meals etc. Manufacturers are innovating with convertible and transitional console table designs suited for small spaces.
  • Growth in Commercial Real Estate: The steady growth in new commercial real estate projects provides significant opportunities for console table sales. Console tables find application as display tables in hotel lobbies, office receptions, restaurants, hospitals and other commercial settings.

Console Table Market Opportunities

  • Smart Furniture with Tech Integration: The integration of technology into furniture is an emerging opportunity that can be capitalized on by console table manufacturers. Smart console tables with features like wireless charging, Bluetooth connectivity, mood lighting and more can enhance appeal and usability for tech-savvy consumers.
  • Sustainable Materials and Production: Sustainability has become a priority for today’s consumers. Using eco-friendly materials like recycled wood, upcycled plastic and sustainably sourced natural fibers in console table production can attract environmentally conscious buyers.
  • Customization and Personalization: Offering customization services gives customers the ability to personalize console tables to their exact specifications. From customized dimensions, colors, storage solutions and materials, personalized console tables allow brands to provide tailored products and charge premium prices.
  • New Distribution through Furniture Rentals: Furniture rental is a promising new distribution model that console table brands can leverage to expand their consumer base. Instead of outright purchase, furniture rentals allow flexibility and affordability for mobile millennials and temporary living spaces.

Console Table Market Trends

  • Multifunctional Designs for Small Spaces: Console tables designed for small, urban living spaces is a major trend. With rising urban density and apartment living, manufacturers are launching space-saving console tables suited for compact homes.
  • Mixing Materials and Eclectic Styles: Unique console tables that blend materials like wood, metal, glass, cement and distressed finishes are gaining popularity. Consumers prefer statement pieces that stand out.
  • Revival of Traditional Craftsmanship: Amid fast furniture trends, there is a counter movement towards traditional craftsmanship and heritage designs for console tables. Hand carved ornamentation, inlaid woodwork and attention to detail appeals to consumers looking for timeless artisanal quality.
  • Sustainable and Natural Materials: Using sustainable materials is an evolving trend in console table designs. Recycled teak, upcycled woods, and eco-friendly bamboo are some options growing in popularity.

Console Table Market Restraints

  • Availability of Substitute Furniture: Console tables face significant threat from alternative furniture like sideboards, buffets, credenzas, sofa tables and entryway units that serve similar functions. The availability of these multifunctional furnishings limits the volume sales of specialized console tables.
  • Limitations in Small Spaces: Console tables require being placed against walls or behind sofas. This makes them unsuitable for micro living spaces, apartments and condos with limited floor space. Despite their narrow depth, not all homes can accommodate console tables due to size constraints.
  • Long Replacement Cycles: The long replacement cycle for furnishings like console tables restricts repeated purchases. Unlike accessories, console tables have a durable build that allows longevity of over 5-7 years.

Console Table Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 4.64 Bn
Historical Data for: 2018 to 2021 Forecast Period: 2023 - 2030
Forecast Period 2023 to 2030 CAGR: 5.4% 2030 Value Projection: US$ 6.70 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa:  GCC Countries, Israel,  South Africa, North Africa, and Central Africa and Rest of Middle East
Segments covered:
  • By Product Type: Traditional Console Tables, Contemporary Console Tables, Transitional Console Tables, Modern Console Tables, Others 
  • By Material: Wood, Metal, Glass, Others
  • By End User: Residential, Commercial, Hospitality Industry, Others
  • By Distribution Channel: Offline Retail Stores, Specialty Stores, Online Stores, Others
Companies covered:

IKEA, Ashley Furniture Industries, La-Z-Boy, Ethan Allen, Restoration Hardware (RH), Crate & Barrel, Pottery Barn, Wayfair, West Elm, Bernhardt

Growth Drivers:
  • Rising residential construction
  • Growth of online furniture retail  
  • Multifunctional and innovative designs
  • Growth in commercial real estate
Restraints & Challenges:
  • Availability of substitute furniture
  • Limitations in small spaces 
  • Long replacement cycles

Recent Developments

New product launches

  • In September 2022, IKEA launched the STILREN console table made from recycled wood and bamboo. The minimalist design and sustainability focus broadens IKEA’s console table range.
  • In June 2021, Anthropologie introduced the Glenna Concrete Inlay Console Table made from mango wood with a hand-inlaid concrete top. The striking design caters to consumer demand for unique, artisanal furniture.
  • In January 2020, West Elm launched the Mid-Century Acacia Wood Console Table with angled solid acacia wood legs and crossbar base. The retro-inspired design appeals to modern sensibilities.

Acquisition and partnerships

  • In October 2022, Williams-Sonoma acquired liaison, a 3D interior design platform. This expands Williams-Sonoma's digital visualization capabilities for consumers.
  • In December 2021, IKEA acquired Geomagical Labs, an AI imaging startup. This bolsters IKEA's augmented reality technology for virtual product visualization.
  • In September 2020, Herman Miller acquired Design Within Reach, a retailer of modern furnishings. This acquisition expands Herman Miller’s distribution network.

Figure 2. Global Console Table Market Share (%), by Material, 2023

 | Coherent Market Insights

Top companies in Console Table Market

  • IKEA
  • Ashley Furniture Industries
  • La-Z-Boy
  • Ethan Allen
  • Restoration Hardware (RH)
  • Crate & Barrel
  • Pottery Barn
  • Wayfair
  • West Elm
  • Bernhardt

*Definition: Console tables are versatile, long and narrow accent tables designed to sit against a wall, behind a sofa, or in an entryway. They provide space to display decorative items and store small accessories. Console tables have elegant tabletops and leg designs that complement both classic and contemporary home décor. With their multi-functional design and visual appeal, console tables are increasingly popular furnishings in living rooms, foyers, bedrooms and other parts of modern homes.

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Frequently Asked Questions

High production costs, availability of substitutes, limitations of small living spaces, longer replacement cycles, supply chain disruptions, raw material price volatility.

Growing residential construction, rising disposable incomes, increasing number of households, growth of online sales, demand for multi-functional furniture, innovative designs.

The traditional console table segment leads the market due to its visual appeal and multi-functional nature.

IKEA, Ashley Furniture Industries, La-Z-Boy, Ethan Allen, Restoration Hardware (RH), Crate & Barrel, Pottery Barn, Wayfair, West Elm, Bernhardt

North America will lead the market due to rising spending on home furnishings.
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