Bedroom Furniture - Chile

Chile

In Chile, the revenue generated in the Bedroom Furniture market in 2024 is estimated to reach €791.30m.
This market is projected to experience an annual growth rate of 6.52% (CAGR 2024-2029).
When comparing this revenue to other countries globally, in the United States leads the way with €38,040m in 2024.
In terms of per capita figures, each person in Chile is expected to generate revenues of €40.25 in 2024.
The demand for modern and minimalist bedroom furniture is rapidly increasing among urban dwellers in Chile.

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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Región

Comparación de regiones

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Analyst Opinion

The Bedroom Furniture market in Chile has been experiencing steady growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.

Customer preferences: In Chile, there is a growing trend towards modern and minimalist bedroom furniture designs. Customers are increasingly looking for sleek and functional furniture pieces that maximize space and offer practical storage solutions. This preference for modern designs is also influenced by the increasing adoption of technology in bedrooms, with customers seeking furniture that can accommodate devices such as smartphones and tablets.

Trends in the market: One of the key trends in the Bedroom Furniture market in Chile is the rising demand for eco-friendly and sustainable furniture. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking furniture made from sustainable materials and produced using environmentally friendly manufacturing processes. This trend is driven by a combination of factors, including increased awareness of climate change and a desire to support companies that prioritize sustainability. Another trend in the market is the growing popularity of online furniture shopping. Chilean customers are increasingly turning to online platforms to browse and purchase bedroom furniture. This trend can be attributed to the convenience and wide variety of options offered by online retailers. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as customers have been encouraged to stay at home and avoid crowded spaces.

Local special circumstances: Chile's strong economy and stable political environment have contributed to the growth of the Bedroom Furniture market. The country has a growing middle class with increasing disposable incomes, which has led to higher consumer spending on furniture. Additionally, Chile has a relatively young population, with a large proportion of millennials and Gen Z entering the housing market. These younger generations have different preferences and are more likely to invest in stylish and functional bedroom furniture.

Underlying macroeconomic factors: The Bedroom Furniture market in Chile is also influenced by macroeconomic factors such as GDP growth, employment rates, and interest rates. When the economy is performing well and there is low unemployment, consumers are more likely to have the financial means to invest in furniture. Similarly, low interest rates make it more affordable for customers to finance their purchases through credit. These factors create a favorable environment for the growth of the Bedroom Furniture market in Chile. In conclusion, the Bedroom Furniture market in Chile is experiencing growth due to changing customer preferences towards modern and sustainable designs, the increasing popularity of online shopping, and favorable macroeconomic factors. The market is expected to continue expanding as customers seek furniture that combines style, functionality, and environmental consciousness.

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.