The global bedroom furniture products market was valued at USD 78.7 billion in 2021 and is projected to expand at a CAGR of 6.5% from 2022 to 2030. Increasing consumer spending on home furnishing and interior decorating, along with rising disposable incomes, is expected to drive market growth. Furthermore, the rising trend of co-living, mini apartments, and hostel culture is driving the demand for bedroom furniture products. In addition, the increasing demand for multifunctional furniture and the growing trend of ‘work from home’ are fuelling the demand for space-saving furniture, such as Murphy beds, wall beds, and foldable beds, among others.

The rising demand for ergonomically designed furniture is driving the demand for bedroom furniture products. For instance, in January 2021, IKEA launched a new range of ergonomically designed bedroom furniture products, such as beds, mattresses, and bed frames. Furthermore, the growing trend of customizing furniture, and the rising demand for smart beds and mattresses are expected to further drive market growth. For instance, in October 2021, Sleep Number Corporation launched a new range of smart beds and mattresses, designed to improve the sleeping experience of users.

Moreover, the increasing focus on sustainability and the rising demand for eco-friendly furniture is expected to propel the demand for the market. For instance, in April 2021, Urban Ladder launched a new range of furniture made using recycled materials, such as plastic, foam, and rubber. Furthermore, the increasing popularity of rental furniture services is also expected to support market growth.

The increasing influence of social media platforms, such as Instagram and Pinterest, is driving the trend of home decor and furniture styling. This, in turn, is expected to boost the demand for bedroom furniture products. Additionally, the rising demand for hotel furniture is expected to further support market growth. For instance, in January 2021, Marriott International announced the launch of a new range of bedroom furniture products, including beds, mattresses, and bed frames. Furthermore, the increasing adoption of online purchasing platforms is boosting the demand for bedroom furniture products.

The bed segment held the largest share of the market in 2022 and is expected to grow at a CAGR of 5.3% during the forecast period. Bedroom furniture products are gaining high popularity due to their ability to enhance the beauty of the bedroom. The beds are available in different styles and designs, making them preferred among customers. Moreover, beds with contemporary designs are extensively being used in households, which is further driving the segment growth. Furthermore, beds are available in a variety of materials such as wood, metal, and plastic, which are preferred by customers.

The wardrobe segment is expected to expand at a CAGR of 6.2% over the forecast period. Increasing disposable income of consumers, growing demand for bedroom furniture products, and increasing focus of leading market players on introducing modern bedroom furniture products are some of the key factors driving the growth of the wardrobe segment. Furthermore, the introduction of multi-functional wardrobe systems such as sliding doors, drawers, and adjustable shelves are further propelling the demand for wardrobes globally.

The offline segment accounted for the major market share of over 81.7% in 2022. This is attributed to the growing presence of established players in the offline channel, such as IKEA and Ashley Furniture, which are operating through stores and retail outlets. Consumers prefer to buy furniture from offline stores due to the ability to touch and feel the product before purchase. Furthermore, the presence of a large number of furniture stores and retailers in different parts of the world provides customers with a wide range of furniture collections from different brands.

The online segment is anticipated to expand at the highest CAGR of 18.2% over the forecast period. Online stores offer a wide range of bedroom furniture collections at competitive prices, which is expected to drive the segment growth. In addition, the availability of customized furniture options, discounts, and attractive offers such as free delivery and installation are expected to further drive the growth of the online segment. Moreover, the increasing penetration of smartphones and internet is expected to further drive the growth of the online segment in the future.

The bedroom furniture products market is segmented into two main categories: mass and premium. The mass segment is expected to account for the largest market share of 73.6% in 2022. The growth of the segment is mainly driven by the increasing demand for affordable and stylish furniture. Also, the availability of a wide range of options in the mass segment is boosting the demand for these products. Furthermore, the rising trend of online shopping has led to the increased availability of these products at competitive prices, thereby driving the growth of the mass segment.

The premium segment is expected to register the highest CAGR of 9.2% over the forecast period. Increasing income, improving lifestyle, and rising demand for designer furniture are the key factors driving the growth of the premium segment. Also, with the increasing competition in the market, product manufacturers are introducing innovative products to attract customers. For instance, IKEA, a major player in the bedroom furniture products market, launched a range of bedroom furniture products in 2021, which includes PAX wardrobe system and MALM bedroom series. The launch of such products is expected to boost the premium segment.

Asia Pacific is projected to be the fastest-growing region in the bedroom furniture market in the forecast period. This growth can be attributed to the increasing population and rising disposable incomes in the region. Growing urbanization and increasing focus on home décor has also led to the growth of the market in the region. Additionally, the growing middle-class population in the region is expected to drive the demand for bedroom furniture in the coming years.

Europe is expected to witness substantial growth in the bedroom furniture market during the forecast period. The region is home to some of the prominent players in the market, such as IKEA, Home Centre, and King Koil. The increasing demand for stylish and comfortable furniture has resulted in the expansion of the market in the region. Changing lifestyles and the presence of modern furniture stores are also driving the growth of the market in the region.

In this part of the bedroom furniture products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your bedroom furniture products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a bedroom furniture products business comes from product sales, wholesale and retail distribution, and online sales. Here you will find a list with a description of each of them and other possible sources of profit such as leasing the place for parties and corporate events.

Projecting Expenses
In this section, all the regular expenses related to keeping the bedroom furniture products business running will be described. The list of operating expenses includes rent and utilities, wages, advertising and marketing, inventory, materials and supplies, and others.

Some of the key companies operating in the bedroom furniture market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, IKEA launched a new range of bedroom furniture with a focus on sustainability and comfort.

– In August 2022, Williams Sonoma launched the ‘Smartstuff’ range of bedroom furniture, designed with safety and convenience in mind.

– In September 2022, Ashley Furniture launched a range of modern bedroom furniture designed for small spaces.

Some of the prominent players in the bedroom furniture market include:

– IKEA
– Ashley Furniture
– Williams Sonoma
– Wayfair
– RH
– Pottery Barn
– Target
– Bob’s Discount Furniture
– Macy’s
– Walmart

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global bedroom furniture products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Beds & Mattresses
– Dressers & Chests
– Nightstands
– Armoires
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation in the Bedroom Furniture Market?
[A]: Product innovation in the bedroom furniture market is expected to be driven by technological advancements and new product launches, as vendors strive to meet the changing needs of consumers. Bedroom furniture with smart features such as voice-activated sleep settings, temperature control, and health monitoring are expected to gain traction in the coming years, as customers become increasingly tech-savvy and look for convenience. Additionally, the emergence of eco-friendly materials and materials that are easy to assemble and disassemble are expected to drive product innovation in the bedroom furniture market.

[Q]: Who are the Key Players in the Bedroom Furniture Market?
[A]: Major players in the bedroom furniture market comprise Ashley Furniture Industries, Inc., Inter IKEA Systems B.V., Williams-Sonoma, Inc., HUKLA Germany GmbH & Co KG, La-Z-Boy Incorporated, King Koil, Shermag, American Leather, Flexsteel Industries, and Klaussner Home Furnishings.

[Q]: What are the Major Factors Driving the Market?
[A]: Major factors driving the bedroom furniture market include the increasing number of working couples, rising disposable income, and the preference for luxury and comfortable furniture. In addition, the growing demand for multifunctional furniture and the rising popularity of online shopping are expected to drive the bedroom furniture market during the forecast period.

[Q]: What is the Regional Outlook of the Bedroom Furniture Market?
[A]: Europe held the largest share of the bedroom furniture market in 2018 and is expected to retain its position over the forecast period. The increasing number of working couples and the increasing preference for luxury furniture are major factors driving the growth of the bedroom furniture market in the region. Asia Pacific is expected to be the fastest-growing region in the bedroom furniture market over the forecast period, owing to the increasing disposable income and the rising demand for multi-functional furniture.