Bedroom Furniture - Ghana

Ghana

In Ghana, the revenue generated in the Bedroom Furniture market amounts to US$69m in 2024.
It is projected that the market will experience an annual growth rate of 1.91% from 2024 to 2029 (CAGR 2024-2029).
When compared to global figures, in the United States generates the highest revenue in this segment, with US$46,500m in 2024.
In terms of per person revenues, in Ghana generates US$1.98 in 2024.
Ghanaian consumers are increasingly embracing locally-made bedroom furniture, prioritizing quality craftsmanship and unique designs that reflect their cultural heritage.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Bedroom Furniture market in Ghana is experiencing significant growth and development in recent years. Customer preferences in the Bedroom Furniture market in Ghana are shifting towards more modern and stylish designs. Customers are increasingly looking for furniture pieces that not only provide functionality but also enhance the aesthetic appeal of their bedrooms. This trend is in line with the global market, where consumers are becoming more design-conscious and willing to invest in high-quality furniture. Trends in the market include the rising popularity of platform beds and storage beds. Platform beds, with their sleek and minimalist design, are gaining traction among Ghanaian consumers who appreciate the contemporary look. Storage beds, on the other hand, are becoming increasingly popular due to their practicality and space-saving features. These trends reflect the changing lifestyles and needs of consumers in Ghana, who are seeking furniture solutions that optimize space utilization. Local special circumstances in Ghana, such as limited living space and a growing urban population, are driving the demand for compact and multifunctional bedroom furniture. With the increasing urbanization and smaller living spaces, consumers in Ghana are looking for furniture that can serve multiple purposes and maximize the available space. This has led to the popularity of furniture pieces with built-in storage compartments and modular designs that can be easily customized to fit different room sizes and layouts. Underlying macroeconomic factors, such as the growing middle class and increasing disposable income, are also contributing to the development of the Bedroom Furniture market in Ghana. As more Ghanaians enter the middle class and experience an improvement in their standard of living, they are willing to invest in higher-quality and more expensive furniture. This has created opportunities for both domestic and international furniture manufacturers and retailers to cater to the growing demand for premium bedroom furniture. In conclusion, the Bedroom Furniture market in Ghana is witnessing growth and development driven by shifting

Customer preferences: towards modern and stylish designs, the rising popularity of platform beds and storage beds,

Local special circumstances: such as limited living space, and

Underlying macroeconomic factors: including a growing middle class and increasing disposable income. These factors are shaping the market and creating opportunities for both local and international players in the industry.

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 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.