Bedroom Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Bedroom Furniture Market size is estimated at USD 126.19 billion in 2024, and is expected to reach USD 155.38 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).

The rising demand for multifunctional furniture is expected to support the growth prospects of the market in the future. The rising standard of living, which leads to the increased introduction of premium products, is also driving market growth. With an expanding global population, real estate prices have decreased significantly in global perspective, especially in cities and urban areas. This has led to a considerable reduction in house sizes. As rooms are getting smaller, consumers are increasingly looking for compact and easily movable furniture to use the available space efficiently.

Vendor companies have introduced multifunctional furniture with storage facilities to cater to such requirements. Most modern furniture products, like tables and beds, come with additional storage spaces. Customers are changing their buying patterns by evolving home and living concepts and trends. Home style, lifestyle, and fashion magazines and blogs are influencing customers.

COVID-19 significantly impacted the bedroom furniture industry, both in terms of production and sales. The pandemic disrupted global supply chains, causing delays in the production and delivery of bedroom furniture. This resulted in inventory shortages and delayed delivery times for consumers.

Bedroom Furniture Market Trends

Beds Segment Driving the Market

The Bedroom Furniture Market segment comprises full, queen, and king-size beds, single and guest beds, beds with storage units, and bunk beds. The demand for beds is driven by population growth, urbanization, and rising disposable incomeChangesges in consumer preferences and lifestyle habits also contributed to the growing demand for beds.

The aging population is another factor contributing to the growth in demand `for beds, as older adults often require more comfortable and supportive beds due to mobility issues or health conditions. Changes in lifestyle, such as a trend towards larger homes and more spacious bedrooms, have also contributed to the growth in demand for beds. Additionally, companies may need to build strong brand awareness and offer exceptional customer service to differentiate themselves in a highly competitive market.

Asia-Pacific is Expected to Witness the Highest Growth

Shortly, there will be an increasing demand for bedroom furniture in Asia-Pacific regions, expected to drive the market for more high-quality bedroom furniture. The main factors driving the growth in Asia-Pacific are increased consumption spending, more intense competition, launches of new products, retrofitting and renovating outdated technology, and rising bedroom furniture adoption.

Bedroom Furniture Industry Overview

The market studied is fragmented and competitive in nature. The report covers major international players operating in the bedroom furniture market. Some players operating in the bedroom furniture market are IKEA, Bed Bath & Beyond Inc., Williams-Sonoma Inc, Ashley Furniture Industries, Inc., and Wayfair Inc. Due to technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support