Bedroom Furniture - Eastern Asia

Eastern Asia

In 2024, the revenue generated in the Bedroom Furniture market in Eastern Asia amounted to €16.63bn.
It is projected that this market will experience an annual growth rate of 3.38% (CAGR 2024-2029).
When compared to other regions globally, in the United States leads in terms of revenue generation, reaching €38,040m in 2024.
Taking into account the population figures, the per person revenue in Eastern Asia for 2024 is €10.17.
This provides insight into the economic impact and consumption patterns within the region's bedroom furniture market.
In Eastern Asia, the demand for modern and minimalist bedroom furniture is on the rise, reflecting the region's preference for sleek and functional design.

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 Eastern Asia is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances in the region.

Customer preferences: in Eastern Asia have shifted towards more modern and minimalist bedroom furniture designs. Customers are increasingly looking for sleek and functional furniture pieces that maximize space and offer multi-functionality. This preference is influenced by the growing popularity of small living spaces and the need for efficient use of space. Additionally, customers in Eastern Asia are placing greater emphasis on the quality and durability of bedroom furniture, seeking long-lasting and sustainable products. One of the key trends in the Bedroom Furniture market in Eastern Asia is the rise of online retail channels. With the increasing penetration of internet and smartphones, customers are opting for the convenience of online shopping. Online platforms offer a wide range of options, competitive prices, and the ability to compare products and read customer reviews. This trend has led to the growth of e-commerce platforms specializing in furniture, as well as traditional brick-and-mortar retailers expanding their online presence. Another trend in the market is the growing demand for eco-friendly and sustainable bedroom furniture. Customers in Eastern Asia are becoming more conscious of the environmental impact of their purchases and are actively seeking furniture made from renewable materials and produced using sustainable practices. This trend is driven by a combination of factors, including government initiatives promoting sustainability, increased awareness among consumers, and the influence of global sustainability movements.

Local special circumstances: also play a role in the development of the Bedroom Furniture market in Eastern Asia. For example, in countries like Japan and South Korea, where space is limited, customers prefer compact and multi-functional furniture pieces that can serve multiple purposes. In China, the growing middle class and rising disposable incomes have led to an increase in demand for high-quality and luxury bedroom furniture. Additionally, cultural preferences and aesthetics influence the choice of bedroom furniture designs in different countries within the region. Underlying macroeconomic factors also contribute to the growth of the Bedroom Furniture market in Eastern Asia. The region has experienced sustained economic growth over the past few decades, leading to an increase in disposable incomes and consumer spending. Rising urbanization and a growing middle class have also contributed to the demand for bedroom furniture. Furthermore, government policies promoting the real estate sector and housing development have boosted the demand for furniture, including bedroom furniture. In conclusion, the Bedroom Furniture market in Eastern Asia is witnessing growth driven by changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and minimalist designs, the rise of online retail channels, the demand for eco-friendly products, and the influence of local preferences and aesthetics are shaping the market. Additionally, economic growth, rising disposable incomes, and government policies supporting the real estate sector are contributing to the growth of the market in the region.

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.