Bedroom Furniture Market – Furniture that provides better relaxation, quality sleeps and enhance interior design of living space
Bedroom furniture consists of relaxing beds, integrated with coordinating bedside tables, drawers and wardrobes for a serene sanctuary that meets all the requirement of end users.
Nowadays, furniture with traditional artifacts are becoming popular among the consumer as they add decorative ambience to the bedroom.
Rise in Standard of Living and Disposable Income to drive the Global Bedroom furniture market
With rising household sector along with growing disposable income, several middle and high-income consumers are purchasing household goods and this is expected to boost the bedroom furniture market during the forecast period.
Rapid growth in demand for multifunctional bedroom furniture is driving the market across the globe. In addition to this, increased in the number of single-person households across the globe. This is partly due to the decrease in the number and postponing of marriages, rise in divorce rates and longevity. Single-person residences are smaller than nuclear or joint family homes, and may not have separate rooms for dining and other purposes. Therefore, they have different furniture needs, requiring space-efficient and multifunctional furniture.
Moreover, improvement in standard of living and rising tourism sector in developing countries across the globe is expected to drive the bedroom furniture market during the forecast period. This would create significant demand for bedroom furniture in hotel rooms to cater the requirement of users. The bedroom furniture industry would benefit through the subsequent demand for hotel furniture.
The market also possess a tremendous opportunities in bedroom furniture industry across the globe. The emerging players has opportunity to focus on design, building the brand name, distribution channel and customization of bedroom furniture product.
However, rise in rental furniture market by online and offline channels across the globe are anticipated to be major challenges for the growth of bedroom furniture market in coming years.
Europe to Hold a Leading Share of Global Bedroom Furniture Market
Geographically, the global bedroom furniture market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the bedroom furniture market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the bedroom furniture market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America bedroom furniture market is segmented into Brazil, and Rest of South America.
Europe dominates the market share due to growth in higher standard of living and higher purchasing power.
However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period due to increase in disposable income.
Key Players Operating in the Bedroom Furniture Market:
The Bedroom furniture market is moderately fragmented with several global and regional players. Major players are adopting various strategies, such as offering natural, recycled furniture and product portfolio expansion to enhance their position in the market.
Regional players are emphasizing for online distribution channels to meet the requirement of end users and enhance their sales.
A few of the key players operating in the global bedroom furniture market are:
Ashley Furniture Industries
About the Author
Harshad Joined: March 26th, 2020 Articles Posted: 535
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