Bedroom Furniture - Iceland

Iceland

The revenue generated in the Bedroom Furniture market in Iceland amounts to US$33.67m in 2024.
It is projected that the market will experience an annual growth rate of 3.52% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, with US$41,450m in 2024.
In terms of per capita figures, each person in Iceland generates US$89.15 in revenue in 2024.
The demand for minimalist and sustainable bedroom furniture is on the rise in Iceland, reflecting the country's commitment to eco-friendly living.

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 Iceland has been experiencing steady growth in recent years.

Customer preferences: Customers in Iceland have shown a growing interest in bedroom furniture that offers both functionality and style. They are looking for furniture pieces that not only provide storage solutions but also enhance the overall aesthetics of their bedrooms. Scandinavian design, with its minimalist and modern approach, has been particularly popular among Icelandic consumers. They appreciate the clean lines, natural materials, and neutral color palettes that are characteristic of this style.

Trends in the market: One of the major trends in the Bedroom Furniture market in Iceland is the increasing demand for multifunctional furniture. With limited living spaces, Icelandic consumers are looking for furniture pieces that can serve multiple purposes. For example, beds with built-in storage compartments or nightstands with integrated charging stations have become highly sought after. This trend is driven by the need to maximize space and create a clutter-free environment. Another trend in the market is the rising popularity of eco-friendly and sustainable bedroom furniture. Icelandic consumers are becoming more conscious of the environmental impact of their purchasing choices and are seeking furniture made from sustainable materials. They are also interested in furniture pieces that are produced using environmentally friendly manufacturing processes. This trend is in line with the global shift towards more sustainable and responsible consumption.

Local special circumstances: The unique geography and climate of Iceland have an impact on the Bedroom Furniture market. Due to the country's remote location and relatively small population, there are limited options for local manufacturing. As a result, a significant portion of bedroom furniture is imported from other countries. This can affect the availability and pricing of furniture in the market. Additionally, the harsh weather conditions in Iceland, such as cold temperatures and high humidity, require furniture that is durable and resistant to damage.

Underlying macroeconomic factors: The growth of the Bedroom Furniture market in Iceland is influenced by several macroeconomic factors. The country has experienced a steady increase in disposable income, which has allowed consumers to spend more on home furnishings, including bedroom furniture. Additionally, the tourism industry in Iceland has been booming in recent years, attracting a large number of visitors. This has created a demand for accommodation and, consequently, for bedroom furniture in hotels and guesthouses. In conclusion, the Bedroom Furniture market in Iceland is developing in response to customer preferences for functional and stylish furniture, as well as the growing demand for multifunctional and eco-friendly options. The unique circumstances of the Icelandic market, such as limited local manufacturing options and harsh weather conditions, also play a role in shaping the market. The underlying macroeconomic factors, including increasing disposable income and the flourishing tourism industry, contribute to the growth of the market.

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.