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Key regions: Denmark, Germany, China, United States, Worldwide
The Bedroom Furniture market in G7 is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors.
Customer preferences: Customers in the G7 countries have been increasingly seeking bedroom furniture that combines functionality with style. They are looking for furniture pieces that can maximize storage space, provide comfort, and enhance the overall aesthetic appeal of their bedrooms. Additionally, there is a growing demand for eco-friendly and sustainable bedroom furniture options, as customers become more conscious of their environmental impact.
Trends in the market: One of the key trends in the Bedroom Furniture market in G7 is the rise of online retail. Customers are increasingly opting to purchase bedroom furniture online, attracted by the convenience, wider product selection, and competitive pricing offered by online retailers. This trend has led to the growth of e-commerce platforms specializing in bedroom furniture, as well as the expansion of traditional brick-and-mortar retailers into the online space. Another trend in the market is the increasing popularity of modular bedroom furniture. Customers are increasingly looking for furniture that can be easily customized and adapted to their changing needs. Modular furniture allows customers to create personalized bedroom setups, making the most of their available space and accommodating their specific storage requirements.
Local special circumstances: Each G7 country has its own unique set of circumstances that influence the Bedroom Furniture market. For example, in the United States, the market is driven by a large population, high disposable income, and a culture that values home ownership. In Japan, where space is limited, there is a higher demand for compact and multi-functional bedroom furniture. In Germany, known for its focus on sustainability, there is a growing preference for eco-friendly and locally sourced furniture.
Underlying macroeconomic factors: The growth of the Bedroom Furniture market in G7 is also influenced by underlying macroeconomic factors. Factors such as GDP growth, disposable income levels, and consumer confidence play a significant role in determining the demand for bedroom furniture. In periods of economic growth, consumers are more likely to invest in home furnishings, including bedroom furniture. Conversely, during economic downturns, consumers may prioritize essential purchases over non-essential items like furniture, leading to a decline in demand. Additionally, factors such as population growth, urbanization, and housing market trends also impact the demand for bedroom furniture in G7 countries.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)