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The Global Bedroom Furniture Market Size is estimated to grow by USD 37.06 billion at a CAGR of 5.22% between 2022 and 2027. The rising standard of living, leading to increased introduction of premium products, renovation, and residential construction, and rising internet penetration expanding shipping deliveries globally is notably driving the market growth. China and the US are the leading countries that cater to the online sales of bedroom furniture. Additionally, increased digital and social media marketing leading to strong brand associations, growing demand for children's furniture, and advancing home and living concepts are having a positive impact on the bedroom furniture market. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market is witnessing notable growth trends shaped by various factors. Traditional offline distribution channels remain significant, catering to consumers' preferences for physically experiencing furniture. Major players like Inter IKEA Systems B, Williams-Sonoma Inc, and La-Z-Boy Incorporated drive market innovation and offerings. Sustainability is increasingly valued, with a focus on FSC certified and reclaimed furniture, aligning with global environmental concerns. As the standard of living rises and real estate prices increase, demand for premium, space-efficient, and easily movable bedroom furniture grows, meeting the needs of a diverse global population living in varying house sizes and rooms.
The research report on the market offers industry forecasts and segmentation based on Product, and by Distribution Channel which comprises Offline and Online. Geographically, the report covers APAC, North America, Europe, South America, and the Middle East and Africa. In the product segment of the market, consumer preferences are evolving alongside lifestyle trends and digital tools. Brands like Raymour & Flanigan Furniture, CRATE & BARREL, and the Culla Collection by Article are offering innovative solutions to cater to these shifting demands. With a mini-housing boom and rising per capita income, there's a growing emphasis on bedroom furniture that combines style with functionality. Designs such as four-poster beds and sliding wardrobes are gaining popularity, as highlighted by research from the American Housing Survey and the Harvard Joint Center for Housing Studies. Millennials, a significant demographic, are driving trends towards modern, space-saving-furniture, including wardrobe and storage products like walk-in closet designs and closet drawers. This aligns with broader trends in the home improvement industry and real estate investment, supported by initiatives like the National Urban Housing Fund.
The BBL and H segment was valued at USD 41.83 billion in 2017 and continued to grow until 2021. Headboards to match different bed sizes, such as twin, twin x-long, full, queen, king, and California king, are available in the market. They can be of different types, such as wooden, metal, and upholstered headboards, and of different styles, such as a bookcase, attached, and wall-mounted headboards. Apart from beds and headboards, bunks and lofts available in various designs, styles, and colors further drive the demand of the segment.
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The market share growth of the BBL and H segments will be significant during the forecast period. Beds, bunks, lofts, and headboards together form the major segment of the global market. This is due to the distinct reasons aligned with the adoption of beds and related accessories in the house, for instance, a bed is a focal point while decorating a bedroom which defines the overall look and style of the bedroom according to the perception of the bedroom user. Apart from the importance of enhanced and designer beds in a bedroom, headboards also play a significant role in enhancing the look and view of the bedroom.
APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market encompasses the production and sales of various bedroom furniture types, including beds in the industry. Amidst the pandemic, global supply chains have faced disruptions, leading to inventory shortages and extended delivery times. Population growth, urbanization, and rising disposable income fuel consumer preferences for comfortable and supportive beds, such as full-size beds, queen-size beds, king-size beds, single beds, guest beds, and bunk beds. Lifestyle habits, mobility issues, and health conditions further influence demand. Companies in the market strive for brand awareness, catering to an aging population's needs for larger homes and spacious rooms.
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The market is witnessing a transformation fueled by shifting consumer preferences and lifestyle trends. Amidst a mini-housing boom and rising per capita income, digital tools are influencing purchasing decisions. Collections like the Culla Collection by Article, crafted from American white oak, are gaining popularity. With millennials driving real estate investment, demand is rising for wardrobe and storage solutions, including four-poster beds and walk-in closet designs. Companies like Inter IKEA Systems B and Williams-Sonoma Inc cater to these needs, offering premium products such as sliding wardrobes and reclaimed furniture. The market adapts to compact living spaces, offering easily movable furniture to enhance the standard of living worldwide. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising standard of living, leading to increased introduction of premium products is the key driver of the market. The global construction industry grew steadily by 2.7% in revenue in 2020 and is expected to grow at a faster pace in the forecast period due to global economic growth and increased spending. MEA saw the highest growth in the construction industry in 2019 due to the rising demand for buildings and a growing international population. The Middle East is known for its impressive infrastructure, such as the Burj Khalifa. The APAC region has a strong economic foundation, with GDP growth of around 6.3% per year. The construction industry in APAC progressed steadily in 2019, with increased investment in emerging markets and developed economies like Japan, South Korea, and Australia. The EMEA construction industry is projected to grow at a CAGR of over 6% in the forecast period, mainly in the residential segment, leading to its increased adoption.
The growing demand for multifunctional bedroom furniture is the key market trend. Due to high residential rents and shrinking living spaces, the global demand has increased. In studio apartments, usually accommodated by bachelors, the bed is designed to have a sleeping area, along with an attached working table like a laptop stand and a sitting side bed. Manufacturers are responding to evolving consumer demands by introducing customizable and multifunctional products sold both online and Offline distribution channels. This trend is expected to continue as the number of residential dwellings increases. Additionally, there is a growing demand for multifunctional furniture in schools, colleges, and universities to meet the needs of the evolving residential education system. This trend is expected to boost sales globally.
Shortage of high-quality raw materials is the major challenge hindering the market growth. The market relies heavily on wood, which accounts for 40%-50% of furniture production. However, the demand for timber is outstripping supply due to increasing demand and campaigns against deforestation. This will lead to higher raw material acquisition costs for vendors, adding to their costs. Global measures have been introduced to tackle the illegal harvesting of timber, such as the EU Timber Regulation (EUTR), which imposes strict regulations on sourcing raw materials, making it challenging for manufacturers to conform.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Kohinoor Furniture:-The company is privately held and is headquartered in India. It is a regional company generating USD 0-100 million in revenues. Its revenue from the global market is a key component of its overall revenues.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market is experiencing notable shifts driven by changing consumer preferences and lifestyle trends. Alongside a mini-housing boom, rising per capita income levels are fueling demand for high-quality bedroom furniture. Digital tools facilitate the exploration of options, including the elegant Culla Collection by Article, featuring American white oak and four-poster beds. Insights from sources like the American Housing Survey and the Harvard Joint Center for Housing Studies inform market trends. Millennials, key players in the real estate investment landscape, are driving innovation in the home improvement industry. Initiatives like the National Urban Housing Fund further bolster the global market, creating opportunities for growth and expansion.
The market is witnessing a significant transformation due to shifting consumer preference towards modern and space-saving designs. Wardrobe and storage products, including walk-in closet designs and sliding wardrobes, are gaining popularity for their functionality and style. Closet drawers offer convenient storage solutions, catering to the needs of consumers worldwide. Distribution channels such as Inter IKEA Systems B, Williams-Sonoma Inc, and others play a crucial role in reaching customers. Sustainability is emphasized with FSC certified and reclaimed furniture options. Factors like global population growth, real estate prices, and house sizes influence the demand for compact furniture and easily movable furniture, reflecting evolving lifestyles and housing trends.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.22% |
Market growth 2023-2027 |
USD 37.06 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.18 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashley home stores Ltd., Abbyson Living LLC, Central Furniture Manufacturing Ltd., Century Furniture LLC, Dunns Furniture, FurnitureRoots, Giessegi Industria Mobili Spa, Global Furniture USA Inc., Godrej Interio, Hillsdale Furniture LLC, Hooker Furnishings Corp., hulsta werke Huls GmbH and Co. KG, Inter IKEA Systems B.V., Kohinoor Furniture, La-Z-Boy Incorporated, Legends Furniture Inc., MillerKnoll Inc., Restoration Hardware Inc., Roomstogo.com Inc., and Vaughan Bassett |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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