Bedroom Furniture - Nigeria

Nigeria

In Nigeria, the revenue generated in the Bedroom Furniture market reached €692.20m in 2024.
It is projected to experience an annual growth rate of 4.01% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with €38,040m in 2024.
In relation to the total population, per person revenues amount to €3.02 in 2024.
The demand for locally-made, handcrafted wooden bedroom furniture is on the rise in Nigeria, as consumers prioritize supporting local artisans and embracing traditional 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 Nigeria is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in Nigeria have shifted towards more modern and stylish bedroom furniture. As the country's middle class continues to grow, consumers are becoming more discerning in their choices and are willing to invest in high-quality furniture that reflects their personal style. Additionally, there is a growing preference for multi-functional furniture that maximizes space in smaller bedrooms, as urbanization and population density increase in major cities. Trends in the market include the rise of online shopping for bedroom furniture. With the increasing availability of internet access and the convenience it offers, more Nigerians are turning to online retailers to purchase furniture. This trend is driven by factors such as a wider range of options, competitive pricing, and the ability to compare products and read customer reviews. Online retailers are also leveraging social media platforms to reach a larger audience and showcase their products. Another trend in the Nigerian Bedroom Furniture market is the growing demand for eco-friendly and sustainable furniture. As consumers become more conscious of the environmental impact of their purchases, they are seeking furniture made from sustainable materials and produced using environmentally friendly manufacturing processes. This trend is driven by factors such as increased awareness of climate change, government initiatives promoting sustainability, and the influence of global sustainability movements.

Local special circumstances: in Nigeria also contribute to the development of the Bedroom Furniture market. The country's rapid urbanization and population growth have led to an increasing demand for housing, particularly in urban areas. This has resulted in a higher demand for bedroom furniture as more people move into new homes or upgrade their existing furniture. Additionally, the Nigerian government's efforts to diversify the economy and attract foreign investment have created a more favorable business environment, leading to increased competition and innovation in the furniture industry. Underlying macroeconomic factors, such as gdp growth, rising disposable income, and a growing middle class, also drive the development of the Bedroom Furniture market in Nigeria. As the economy continues to expand, more Nigerians are able to afford higher-quality furniture and are willing to spend on home furnishings. Furthermore, the country's young and dynamic population, with a large proportion of millennials, is driving demand for trendy and modern bedroom furniture. In conclusion, the Bedroom Furniture market in Nigeria is developing due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. As consumers become more discerning and the market becomes more competitive, manufacturers and retailers need to adapt to these trends and cater to the evolving needs of Nigerian consumers.

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.