Bedroom Furniture - Armenia | Statista Market Forecast

In Armenia, the revenue generated in the Bedroom Furniture market in 2024 amounts to US$1.50m.
It is projected that the market will experience an annual growth rate of 5.00% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this segment, with a total of US$41bn in 2024.
In terms of per capita revenue, each person in Armenia generates US$0.54 in 2024.
Armenia's growing demand for high-quality, locally-made bedroom furniture reflects the nation's appreciation for traditional craftsmanship and design.

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.

Beds
Mattresses
Beddings
Dressers, nightstands, and closets

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Bedroom Furniture market in Armenia is experiencing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Bedroom Furniture market in Armenia have shifted towards modern and minimalist designs. Customers are increasingly seeking furniture that is functional, space-saving, and aesthetically pleasing. This preference for modern designs is in line with global trends, as customers around the world are embracing minimalism and simplicity in their homes. Additionally, customers in Armenia are placing a high value on quality and durability when choosing bedroom furniture.

Trends in the market: indicate a growing demand for multifunctional bedroom furniture. With limited living spaces and an increasing focus on practicality, customers in Armenia are looking for furniture pieces that serve multiple purposes. For example, beds with built-in storage compartments or nightstands with charging ports are becoming popular choices. This trend is driven by the need to maximize space and enhance convenience in the bedroom.

Local special circumstances: in Armenia, such as a growing urban population and changing lifestyles, are contributing to the development of the Bedroom Furniture market. As more people move to cities and live in smaller apartments, there is a greater demand for compact and space-saving furniture. Additionally, the rise of remote work and flexible schedules has led to an increased emphasis on creating a comfortable and functional home office space within the bedroom. These special circumstances are driving the demand for innovative and adaptable bedroom furniture solutions.

Underlying macroeconomic factors: also play a role in the development of the Bedroom Furniture market in Armenia. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and consumer spending power. This has allowed more people to invest in quality bedroom furniture and upgrade their living spaces. Furthermore, the government's efforts to promote tourism and attract foreign investment have led to an increase in the construction of hotels and residential complexes, creating a demand for bedroom furniture in these establishments. In conclusion, the Bedroom Furniture market in Armenia is growing due to changing customer preferences towards modern and minimalist designs, the trend towards multifunctional furniture, local special circumstances such as limited living spaces and changing lifestyles, and underlying macroeconomic factors including economic growth and increased construction activity. As the market continues to evolve, it is important for furniture manufacturers and retailers to adapt to these trends and cater to the specific needs and preferences of customers in Armenia.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.