Bedroom Furniture - Nordics

Nordics

In 2024, the revenue in the Bedroom Furniture market in the Nordics is estimated to be US$3bn.
According to projections, the market is anticipated to experience an annual growth rate of 4.58% (CAGR 2024-2029).
It is worth noting that, in comparison to other countries worldwide, in the United States leads in terms of revenue generation, with an estimated amount of US$46,500m in 2024.
When considering the population size, the per person revenue in the Nordics is projected to be US$119.50 in 2024.
In the Nordics, the demand for minimalist and sustainable bedroom furniture is on the rise, reflecting the region's focus on simplicity and environmental consciousness.

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 Nordics has experienced steady growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: In the Nordics, customers have shown a growing preference for modern and minimalist bedroom furniture designs. This trend is influenced by the region's strong design heritage and the desire for functional and aesthetically pleasing furniture. Scandinavian design principles, characterized by clean lines, natural materials, and simplicity, have gained popularity not only in the Nordics but also worldwide. Customers also prioritize sustainability and eco-friendly materials, leading to a rise in demand for furniture made from recycled or ethically sourced materials.

Trends in the market: One of the prominent trends in the Bedroom Furniture market in the Nordics is the increasing demand for multifunctional furniture. As living spaces become smaller, customers are seeking furniture that can serve multiple purposes, such as beds with built-in storage or convertible sofa beds. This trend is driven by urbanization and the need to optimize space in smaller apartments and houses. Another trend in the market is the growing popularity of online furniture shopping. Customers in the Nordics are increasingly comfortable with making large purchases online, and e-commerce platforms have capitalized on this trend by offering a wide range of bedroom furniture options. Online retailers provide convenience, competitive pricing, and the ability to compare products and read customer reviews, making it an attractive option for customers.

Local special circumstances: The Nordics have a unique climate that influences customer preferences in the Bedroom Furniture market. The long winters and limited daylight hours lead to a focus on creating cozy and comfortable bedroom spaces. This has resulted in a demand for furniture that incorporates warm and inviting materials, such as wood and soft textiles. Additionally, the region's high living standards and disposable income levels contribute to a willingness to invest in high-quality and durable bedroom furniture.

Underlying macroeconomic factors: The strong economy in the Nordics has played a significant role in the growth of the Bedroom Furniture market. Low unemployment rates, high disposable income levels, and stable housing markets have increased consumer confidence and purchasing power. The region's focus on social welfare and quality of life also translates into a willingness to invest in quality bedroom furniture that enhances comfort and well-being. In conclusion, the Bedroom Furniture market in the Nordics is developing in response to changing customer preferences for modern and minimalist designs, multifunctional furniture, and online shopping. The region's unique climate and high living standards also influence customer preferences. The strong macroeconomic factors, including a robust economy and high disposable income levels, further support 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.