Bedroom Furniture - New Zealand

New Zealand

In New Zealand, the revenue generated in the Bedroom Furniture market in 2024 amounts to NZD €300.80m.
Looking ahead, the market is projected to experience an annual growth rate of 1.45% (CAGR 2024-2029).
When compared to other countries worldwide, it is worth noting that in the United States leads the pack with a substantial revenue of €38,040m in 2024.
To put the revenue numbers into perspective, in 2024, per person revenues of NZD €57.08 are generated in New Zealand.
"New Zealand's bedroom furniture market is witnessing a surge in demand for sustainable and locally sourced materials."

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 New Zealand has been experiencing steady growth in recent years.

Customer preferences: Customers in New Zealand have shown a growing preference for modern and minimalist bedroom furniture designs. They are increasingly seeking furniture that is functional, space-saving, and aesthetically pleasing. This trend is driven by the desire for a clean and clutter-free bedroom environment. Additionally, customers are placing importance on sustainability and are looking for furniture made from environmentally friendly materials.

Trends in the market: One of the key trends in the bedroom furniture market in New Zealand is the rise of online shopping. Customers are increasingly turning to online retailers to purchase their bedroom furniture due to the convenience and wider product selection that online platforms offer. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. Another trend in the market is the growing popularity of adjustable beds. With an aging population, there is an increasing demand for beds that offer comfort and support to individuals with specific health needs. Adjustable beds allow users to customize the position of the bed to their desired level of comfort, making them a popular choice among older adults and those with medical conditions.

Local special circumstances: New Zealand's unique geography and climate have a significant influence on the bedroom furniture market. The country's stunning natural landscapes and outdoor lifestyle have led to a preference for furniture that reflects the country's natural beauty. Customers in New Zealand often opt for bedroom furniture made from native timber, such as rimu or kauri, to create a sense of connection with the environment.

Underlying macroeconomic factors: New Zealand's stable economy and growing population have contributed to the growth of the bedroom furniture market. As the economy continues to expand, consumers have more disposable income to spend on home furnishings, including bedroom furniture. Additionally, the increasing population, driven by both natural growth and immigration, has led to a higher demand for housing, which in turn fuels the demand for bedroom furniture. In conclusion, the Bedroom Furniture market in New Zealand is experiencing growth driven by customer preferences for modern and minimalist designs, the rise of online shopping, and the popularity of adjustable beds. The country's unique geography and climate also play a role in shaping customer preferences. Overall, the stable economy and growing population provide a favorable environment for the growth of the bedroom furniture market in New Zealand.

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.