Bedroom Furniture - G20

In 2024, the Bedroom Furniture market in the G20 countries is projected to generate a revenue of US$106bn.
According to industry forecasts, this market is expected to experience an annual growth rate of 2.98% between 2024 and 2029 (CAGR 2024-2029).
Among the G20 countries, United States is the leading contributor to the segment's revenue, generating US$46,500m in 2024.
This is the highest revenue generated by any single country in the global comparison.
When considering the per capita revenue, the G20 countries collectively generate US$29.86 per person in the Bedroom Furniture market in 2024.
This figure highlights the financial impact of the segment on the population as a whole.
In India, the demand for luxury bedroom furniture is on the rise, driven by the growing middle class and their increasing disposable income.

Key regions: Denmark, France, Worldwide, Germany, United States

Definition:

The Bedroom Furniture segment refers to those movable objects that are designed to be used in a bedroom, which is typically a space used for sleeping, dressing, and storage. It includes items such as beds, dressers, nightstands, and wardrobes, which are intended to make the room comfortable, functional, and aesthetically pleasing.

Structure:

The Bedroom Furniture segment is divided into four subsegments:

The Beds subsegment refers to furniture designed primarily for sleeping, which typically consist of a frame and mattress. This subsegment focuses on the frame and covers additional elements such as headboards, footboards, or storage drawers.
The Mattress subsegment refers to the long rectangular pad that is placed on top of a bed frame and is used to provide a comfortable sleeping surface. Mattresses come in a wide variety of sizes, from twin to king, and levels of firmness to suit individual preferences.
The Closets, Nightstands, & Dressers subsegment includes a range of storage furniture designed for bedrooms. These pieces are used to store and organize clothing, linens, and personal items, providing both functional and aesthetic value to the space.
The Bedding subsegment refers to products designed to enhance the comfort and functionality of a bed, including sheets, blankets, comforters, pillows, and mattress toppers. These products are available in a range of materials, styles, and sizes to suit individual preferences and needs.

Additional Information:

The Bedroom Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The Bedroom Furniture market in G20 is experiencing significant growth and development due to various customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Bedroom Furniture market in G20 are playing a crucial role in driving the market's growth. Customers are increasingly looking for stylish and functional bedroom furniture that complements their overall interior design. They prioritize furniture that is durable, easy to maintain, and provides ample storage space. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as customers are becoming more conscious of their environmental footprint. These customer preferences are driving manufacturers to innovate and offer a wide range of bedroom furniture options that meet these requirements.

Trends in the market: are also contributing to the development of the Bedroom Furniture market in G20. One notable trend is the rise of online retailing, which has significantly expanded the reach of bedroom furniture manufacturers. Customers now have access to a wider range of products and can easily compare prices and features before making a purchase. This trend has resulted in increased competition among manufacturers, leading to improved product quality and competitive pricing. Another trend is the growing popularity of multifunctional furniture, which allows customers to optimize the use of space in their bedrooms. This trend is particularly relevant in urban areas where living spaces are often limited.

Local special circumstances: in different G20 countries are impacting the development of the Bedroom Furniture market. For example, in countries with a high population density, such as China and India, there is a growing demand for compact and space-saving bedroom furniture solutions. On the other hand, in countries with a higher average income, such as the United States and Germany, customers are more willing to invest in high-end and luxury bedroom furniture. Additionally, cultural preferences and traditions also influence the choice of bedroom furniture in certain countries. For instance, countries with a strong emphasis on traditional design and craftsmanship, like Italy and Japan, have a market for handcrafted and artisanal bedroom furniture.

Underlying macroeconomic factors: are also driving the growth of the Bedroom Furniture market in G20. Economic growth and rising disposable incomes in many G20 countries have led to increased consumer spending on home furnishings, including bedroom furniture. Moreover, urbanization and the growing number of households are creating a higher demand for bedroom furniture. As more people move to cities and establish their own households, the need for bedroom furniture increases. Additionally, favorable government policies and initiatives to boost the housing sector and promote domestic manufacturing are also contributing to the growth of the Bedroom Furniture market in G20. In conclusion, the Bedroom Furniture market in G20 is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Manufacturers are catering to the demand for stylish, functional, and eco-friendly furniture options, while online retailing and multifunctional furniture are shaping the market. Local preferences, cultural traditions, and economic factors also play a significant role in driving the market's growth. Overall, the Bedroom Furniture market in G20 is poised for continued expansion in the coming years.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.