Bedroom Furniture - Canada

Canada

In Canada, the revenue generated in the Bedroom Furniture market is estimated to reach €2.75bn by 2024.
It is projected that the market will experience an annual growth rate of 4.82% from 2024 to 2029, according to the compound annual growth rate (CAGR).
When compared to other countries around Worldwide, in the United States leads in terms of revenue, with €38,440m generated in 2024.
Taking into account the total population, the per capita revenue in Canada's Bedroom Furniture market amounts to €70.36 in 2024.
The demand for Canadian-made solid wood bedroom furniture is on the rise as consumers prioritize durability and sustainability.

Key regions: Denmark, Germany, China, United States, Worldwide

Definition:

The Bedroom Furniture segment refers to those movable objects that are designed to be used in a bedroom, which is typically a space used for sleeping, dressing, and storage. It includes items such as beds, dressers, nightstands, and wardrobes, which are intended to make the room comfortable, functional, and aesthetically pleasing.

Structure:

The Bedroom Furniture segment is divided into four subsegments:

The Beds subsegment refers to furniture designed primarily for sleeping, which typically consist of a frame and mattress. This subsegment focuses on the frame and covers additional elements such as headboards, footboards, or storage drawers.
The Mattress subsegment refers to the long rectangular pad that is placed on top of a bed frame and is used to provide a comfortable sleeping surface. Mattresses come in a wide variety of sizes, from twin to king, and levels of firmness to suit individual preferences.
The Closets, Nightstands, & Dressers subsegment includes a range of storage furniture designed for bedrooms. These pieces are used to store and organize clothing, linens, and personal items, providing both functional and aesthetic value to the space.
The Bedding subsegment refers to products designed to enhance the comfort and functionality of a bed, including sheets, blankets, comforters, pillows, and mattress toppers. These products are available in a range of materials, styles, and sizes to suit individual preferences and needs.

Additional Information:

The Bedroom Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

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Analyst Opinion

The Bedroom Furniture market in Canada has been experiencing significant growth in recent years.

Customer preferences: Canadian consumers have shown a strong preference for high-quality and durable bedroom furniture. They prioritize functionality and comfort, while also valuing aesthetics and design. Many consumers are willing to invest in well-crafted and stylish pieces that can withstand the test of time. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as Canadians become more conscious of their environmental impact.

Trends in the market: One of the key trends in the Canadian Bedroom Furniture market is the increasing popularity of online shopping. With the convenience of e-commerce platforms, consumers are able to browse a wide range of options and compare prices from the comfort of their own homes. This has led to a rise in online retailers specializing in bedroom furniture, offering competitive prices and convenient delivery options. Another trend in the market is the growing demand for multifunctional furniture. As living spaces become smaller and more compact, consumers are seeking furniture pieces that can serve multiple purposes. This includes beds with built-in storage, nightstands with charging ports, and dressers with integrated mirrors. The versatility of these pieces allows consumers to maximize their use of space without compromising on style or functionality.

Local special circumstances: Canada's diverse population and multicultural influences have also had an impact on the Bedroom Furniture market. Different cultural backgrounds and traditions may influence the design and style preferences of consumers. For example, individuals with Asian heritage may prefer minimalist and space-saving designs, while those with European heritage may lean towards more ornate and traditional styles. This diversity in preferences has led to a wide variety of bedroom furniture options available in the market.

Underlying macroeconomic factors: The strong performance of the Canadian economy has played a significant role in the growth of the Bedroom Furniture market. Low unemployment rates, rising disposable incomes, and favorable interest rates have contributed to increased consumer spending on home furnishings. Additionally, the booming real estate market has led to a surge in home renovations and new home purchases, driving the demand for bedroom furniture. In conclusion, the Bedroom Furniture market in Canada is experiencing growth due to customer preferences for high-quality, durable, and stylish furniture. Online shopping and the demand for multifunctional pieces are key trends in the market. Canada's diverse population and strong macroeconomic factors have also contributed to the growth of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.