PUBLISHER: SkyQuest | PRODUCT CODE: 1189201
PUBLISHER: SkyQuest | PRODUCT CODE: 1189201
Global Bean Bag Chair Market Size was valued at USD 3.74 billion in 2021, and it is expected to reach a value of USD 4.97 billion by 2028, at a CAGR of 4.2% over the forecast period (2022 - 2028).
The demand for bean bag chairs is significantly influenced by the expansion of the construction industry. In nations like the U.S., Germany, and the U.K., there is an increase in the building of residential and commercial structures. Additionally, a rise in the demand for luxurious home furnishings is anticipated to drive up the price of bean bag chairs in the coming years. Along with the growing middle-class population, supportive government initiatives for the construction of residential buildings are anticipated to accelerate market growth.
Top-down and bottom-up approaches were used to estimate and validate the size of Global Bean Bag Chair Market used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global bean bag chair market has been segmented based on product type, distribution channel, and region. By product type, the market is segmented into indoor and outdoor. Based on the distribution channel it is classified as offline or online. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Companies are putting more effort into offering bean bag chairs with a unique touch. The main players in the bean bag chair market are more concerned with offering customers specialized bean bag furniture that fits their needs, requirements, and interior design. Bean bag chairs with a distinctive flair add style and design to the room's practicality. As a result, businesses are selling specialized bean bags in a variety of fabrics, fillings, colors, and styles to best complement the setting.
Restraint
The cost of production and finished goods are rising in tandem with the price of premium quality raw materials like cotton and leather. These elements could, in the future, to some extent, limit the market growth.
Market Trends
Bean bag chairs are increasingly being used to decorate living rooms, bedrooms, and dorm rooms. In addition, bean bag chairs in swimming pools are becoming increasingly common on both public and private properties around the world. With natural materials like corn, oats, barley, wheat, rice, flax seeds, and cherry pits inside, it can also be used as a radiant heating pad to create a comfortable temperature. This is also anticipated to fuel the market for bean bag chairs throughout the anticipated time frame.