Bedroom Furniture Market Will Accelerate at a CAGR of over3.9% through 2022-2031

The global bedroom furniture market was valued at USD123.26 billion in 2021. It is expected to grow at a compound annual rate (CAGR of 3.9%) between 2023 to 2032.

Due to technological advancements in home furnishing, the bedroom furniture market is driven by changing consumer preferences toward high-end furniture. Mini-housing is also gaining popularity, which has led to an increase in bedroom furniture sales. A rising per capita income has increased bedroom furniture demand, particularly in developing countries. Easy access to digital tools and easy access have made traditional households high-end residential homes. Bedroom furniture can include a mix of drawers, beds, and wardrobes. This creates a serene sanctuary that is suitable for all users. Because they add a decorative touch to the bedroom, traditional furniture is becoming more popular. Increasing real estate investments are driving the furniture market to grow.

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Driving Factors

Many key factors drive market growth, including shifting consumer preferences for high-end furniture products because of technological advancements in home furnishing.

Market Trends

Online Furniture Shopping Sites are growing in acceptance and growth

As more people rely on online shopping for their home goods, online shopping is becoming more popular. These platforms offer a wide range of products, so you can shop for anything from bedroom furniture to groceries on one platform. Many key players have seized these opportunities and have created their own websites and apps to enable customers to place orders from anywhere.

Rental Furniture is on the rise.

People moving to another city temporarily for work or higher learning love furniture rental services. These furniture rental companies provide furniture sets to rent at very affordable rates. They can also deliver furniture to the customers’ homes from their warehouses or shops. They have seen a rise in furniture rental services in cities. Furniture rental services are the largest users of bedroom furniture. This is the main reason for the rapid growth of the global furniture market.

Restraining Factors

Wood is used in many ways for furniture production. Internationally, there is a shortage in wood products which could affect bedroom furniture sales. The growth of eCommerce platforms has driven bedroom furniture sales. Delivery delays can also be detrimental to sales and market development.

Because of its size and shape, bedroom furniture is an exciting niche for eCommerce. It can also be easily damaged. Bedroom furniture is not as well-developed as other e-commerce segments such as style.

Key Market Players

Bed Bath & Beyond Inc.

Williams-Sonoma, Inc.

Target Corporation

Wayfair Inc.

Home Depot, Inc.

Ashley Furniture Industries, Inc.

Heritage Home Group

La-Z-Boy

Other Key Players

Key Market Segments

By Product

Night Stands

Beds

Dressers & Mirrors

Wardrobe & Storage

Other Products

By Distribution Channel

Online

Offline

Frequently Asked Questions

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David Hope

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