Bedroom Furniture - Malta

Malta

In Malta, the revenue generated in the Bedroom Furniture market in 2024 amounts to €40.16m.
It is projected that the market will experience an annual growth rate of 1.59% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching €38,040m in 2024.
In terms of per capita revenues, each person in Malta generates €74.82 in 2024.
"Maltese consumers are increasingly seeking bedroom furniture that combines modern design with traditional Maltese craftsmanship."

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.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Bedroom Furniture market in Malta is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors.

Customer preferences: In recent years, there has been a shift in customer preferences towards modern and minimalist bedroom furniture designs. Customers are increasingly opting for sleek and functional furniture pieces that maximize space and offer storage solutions. This trend is driven by the growing popularity of apartment living and the need for compact furniture that fits well in smaller spaces. Additionally, customers are also seeking eco-friendly and sustainable furniture options, leading to an increased demand for bedroom furniture made from recycled materials or produced using environmentally friendly manufacturing processes.

Trends in the market: One of the key trends in the Bedroom Furniture market in Malta is the rise of online retail. With the increasing penetration of internet and smartphones, customers are now more inclined to shop for furniture online. Online retailers offer a wide range of options, competitive prices, and convenient delivery services, making it an attractive option for customers. This trend has led to the emergence of online-only furniture brands and the expansion of traditional brick-and-mortar retailers into the online space. Another trend in the market is the growing demand for customized bedroom furniture. Customers are increasingly looking for unique and personalized furniture pieces that reflect their individual style and preferences. This has led to an increase in demand for made-to-order furniture, where customers can choose the design, materials, and finishes of their bedroom furniture. Customization options not only allow customers to create a personalized space but also cater to their specific needs and requirements.

Local special circumstances: Malta is a popular tourist destination, attracting a large number of tourists each year. This has a significant impact on the Bedroom Furniture market as tourists often seek to furnish their holiday homes or rental properties. The demand for affordable yet stylish furniture options is high among this segment, leading to the growth of budget-friendly furniture stores and online platforms that cater to the needs of tourists and short-term residents.

Underlying macroeconomic factors: The strong economic growth and rising disposable incomes in Malta have contributed to the growth of the Bedroom Furniture market. As people have more purchasing power, they are willing to invest in high-quality and durable bedroom furniture that offers both functionality and aesthetic appeal. Additionally, the low interest rates and favorable lending conditions have also encouraged consumers to make big-ticket purchases, including bedroom furniture. In conclusion, the Bedroom Furniture market in Malta is witnessing growth driven by changing customer preferences, such as a preference for modern and minimalist designs and a demand for customized furniture. The rise of online retail and the influence of tourism on the market are also significant trends. Furthermore, the strong macroeconomic factors, including economic growth and rising disposable incomes, are contributing to the expansion 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.