Global Bedroom Furniture Market By Product Type (Beds, Wardrobe & Storage, Dressers & Mirrors, and Other Products), By Distribution Channel (Offline and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Bedroom Furniture Market Overview:

The Bedroom Furniture Market size is expected to be worth around USD 187.76 Billion by 2032 from USD 123.26 Billion in 2021, growing at a CAGR of 3.9% during the forecast period 2022 to 2032.”

The Bedroom Furniture Market report offers detailed information about the market scope, segments, opportunities, market dynamics, regional analysis, and competitive landscape of bedroom furniture market share.

Market Analysis

Product Analysis

With a 37.1% share in 2021, beds dominated this market in terms of revenue. This can be attributed to the rapid urbanization of developing countries, such as India, China, and Brazil, which has led to an increase in residential housing construction.

These countries are providing more support for residential housing and thereby increasing the demand for bedroom furniture. The government of India, for example, offers low-interest housing loans and reconstruction loans to citizens.

The rapid growth rate for wardrobe and storage products is 5.1% between 2023-2032. Modern bedroom interiors are becoming more attractive to light-filled, spacious, and stylish walk-in wardrobes. Sliding wardrobes are a stylish and fashionable way to maximize closet space and add functional storage.

Closet drawers are becoming more popular because they can save space and leave more space in bedrooms. This will likely drive the demand for wardrobes and storage furniture over the forecast period.

Distribution Channel Analysis

With a 72.5% share in 2021, the market was dominated by offline distribution channels. This can be attributed to the increased demand for household furniture due to the rise in the real estate industry, which has created a need for durable and flexible furniture.

Due to the dominance of retail stores, there has been intense competition in the market with major manufacturers including La-Z-Boy Incorporated, Inter IKEA Systems B.V., Williams-Sonoma Inc., Raymour & Flanigan Furniture. The store’s environment allows customers to envision their own homes and furniture.

Increasing online shoppers is to offer potential opportunities for furniture brands to serve the large consumer base.  With the rapid growth in retail e-commerce in comparison to brick-and-mortar business models, furniture companies are progressively showcasing their bedroom furniture through online channels.

These furniture manufacturers are also focusing more on sustainability issues, which is helping to attract consumers’ attention through the proper product selection in these stores. CRATE & BAREL, for example, offer FSC-certified, reclaimed, and sustainable furniture with high-end design. The availability of furniture in supermarkets and hypermarkets has also increased bedroom furniture sales from the offline market.

Online distribution is expected to grow at a 4.7% CAGR between 2023 and 2032. This can be attributed to the growing number of online retailers and companies that cater to consumers through their websites.

Online shopping for bedroom furniture has become more popular due to the ease of comparing prices and the availability of a wide range of brands. Furniture brands will have more opportunities to serve this large customer base with an increasing number of online shoppers.

The U.K., for example, is emerging as an e-commerce hub in the region. This is due to its large population and high standards of living. Online sales are booming, with e-commerce growing at a faster rate than brick-and-mortar businesses.

Key Market Segments

By Product

• Night Stands
• Beds
• Dressers & Mirrors
• Wardrobe & Storage
• Other Products

By Distribution Channel

• Online
• Offline

Market Dynamics

The market for bedroom furniture is driven by a shift in consumer preference for high-end products due to technological advances in the home furnishing sector.

The mini-housing boom is also generating more demand for bedroom furniture. The rise in per capita income, especially in developing countries, as well as easy access to digital tools and the adoption of new lifestyle trends have transformed traditional households into luxurious residential homes. In the top trends of bedroom furniture, minimalism is one of the top trends which is likely to trend in the coming.

Major bedroom renovations have been influenced by the increasing attention to gaining trendy bedroom styles. This has led to major bedroom renovation projects that create a minimalist atmosphere for a serene and tranquil environment with bedrooms filled with functional furniture.

The Culla Collection from Article, a Canadian furniture company, has a single-drawer nightstand and bed frame. It also comes with a three-drawer dresser. The market is also seeing a rise in four-poster beds, which are designed to fit larger mattresses. Modern four-poster beds are simple and elegant, which makes them stand out in a small space.

According to the Harvard Joint Center for Housing Studies’ American Housing Survey, the value of the home-improvement industry was US$ 38300 million by 2021. The market is also growing due to the rising number of millennials purchasing older homes that require more renovations. HomeAdvisor studies show that millennials invest in more home improvements each year than other generations.

The furniture industry is seeing an increase in demand for bedroom furniture due to increased real estate investments. The Global Real Estate Report published by HSBC shows that real estate is valued at US$ 228 trillion in 2021. This was a 5% increase over 2015, according to HSBC. Market growth will also be boosted by the increasing demand for houses due to the expanding population in different regions.

According to the National Association of Home Builders, the U.S. single-family permit count has increased by 8.4% by 2021. The demand for the bedroom furniture will rise due to the increasing number of residential households. Companies are focusing on adopting innovative technologies in order to meet customer demand for custom furniture products.

Regional Analysis

The Asia Pacific was the dominant market for bedroom furniture in 2021 with 38.7%. It is expected to experience the fastest growth during the forecast period. This can be attributed to the increasing demand for furnishing and a desire to improve the look of the bedroom.

A growing number of millennials will be investing in modern bedroom furniture due to its customization and space-saving capabilities. The region’s large population is driving real estate development and increasing bedroom furniture adoption, including nightstands, dressers, beds, and other accessories.

North America will grow at a 4.6% CAGR between 2023 and 2032. With the increasing development of residential construction in the U.S. and Canada, there is an increase in the adoption of bedroom furniture. The National Association of Realtors predicts that existing-home sales will grow by 4% in the residential property market by 2021.

The rising popularity of sustainable furniture in American households is driving the demand for eco-friendly bedroom furniture. According to the National Association of Home Builders (NAHB), green residential construction has seen a 2% increase in 2005 to 23% by 2021. Consumers are increasingly focused on creating a greener environment in their homes, which drives demand for sustainable bedroom furniture market growth.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape:

This market is characterized by fierce competition. To meet the customer demand for custom-made furniture, companies are expanding their product ranges and adopting new technologies. The major bedroom furniture manufacturers in the market are Williams-Sonoma, Inc., Target Corporation, Wayfair Inc., Ashley Furniture Industries Inc, INTERIO International Limited, Century Furniture LLC, Bath & Beyond Inc., Heritage Home Group, Mattress Firm Inc., a Canada-based furniture company, and Stanley furniture.

Key Market Players

• Bed Bath & Beyond Inc.
• Williams-Sonoma, Inc.
• Target Corporation
• Vogue Furniture 4U
• Wayfair Inc.
• Home Depot, Inc.
• Ashley Furniture Industries, Inc.
• Heritage Home Group
• La-Z-Boy
• Other Key Players