Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "U.S. Bedroom Furniture Market Size, Share & Trends Analysis Report By Product (Beds, Wardrobe & Storage), By Distribution Channel (Offline, Online), By Price Range (Less than 500, USD 500 - USD 999), And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. bedroom furniture market size is expected to reach USD 72.48 billion by 2030, growing at a CAGR of 6.3% from 2024 to 2030
The growing trend of home improvement and renovation projects is encouraging homeowners to invest in upgrading their bedrooms. This includes replacing old beds, dressers, and nightstands, among others, with newer, more stylish, and functional ones. Moreover, consumers increasingly prioritize comfort, aesthetics, and functionality in their bedrooms, driving the demand for bedroom furniture products tailored to individual preferences and lifestyles. 
High homeownership rates and home renovation projects have encouraged homeowners to invest in high-quality furniture that complements their bedrooms and living spaces. According to the U.S. Census Bureau, the homeownership rate in the U.S. was 65.7% as of the fourth quarter of 2023.
In addition, the e-commerce boom has provided an opportunity for bedroom furniture manufacturers and retailers to expand their reach and customer base, allowing consumers to access a wider variety of furniture styles and brands online. Online retail platforms are actively leveraging cutting-edge technologies to enhance the overall shopping experience for consumers. This includes the implementation of virtual reality (VR) or augmented reality (AR) features, allowing consumers to visualize how the furniture will look in their bedrooms before making a purchase.
For instance, Amazon offers an AR view to visualize furniture in the bedroom before a purchase. Similarly, prominent market player Wayfair Inc. launched Decorify in July 2023, which utilizes a generative AI model to produce shoppable, photorealistic images, empowering consumers to visualize their homes in different styles with ease by uploading images of their bedrooms and living spaces. Such digital improvements will drive the purchase of bedroom furniture via online platforms in the U.S.
In the U.S. market, environmental concerns and sustainability issues are gaining importance, with consumers increasingly seeking eco-friendly furniture options. This shift in consumer preferences poses a challenge for traditional furniture manufacturers who may not have sustainable practices in place.
Home improvement budgets have also seen a notable increase in the U.S., with homeowners' median spending rising by 20% from USD 15,000 in 2020 to USD 18,000 in 2021, according to the 2022 U.S. Houzz and Home Study. As homeowners continue to focus on enhancing their living spaces and bedrooms with evolving design preferences, the market is projected to witness continued growth. In terms of expenditure on home improvement, baby boomers and Generation X continue to be the dominant consumer groups. According to the 2022 U.S. Houzz & Home study, baby boomers and Gen X accounted for 86% of remodelers, while only 9% of millennials and 5% of elderly people said they had renovated their homes.
U.S. Bedroom Furniture Market Report Highlights
- The market is projected to grow at a significant CAGR in the forecast period. Rising consumer spending, increased urbanization, e-commerce growth, and trends towards home aesthetics and functionality are pushing the industry.
- Beds accounted for a majority market share in 2023. These are the central and most essential piece in any bedroom setup. As the primary item for rest and comfort, consumers prioritize investing in high-quality beds, often making them the focal point of bedroom furniture purchases.
- U.S. bedroom furniture priced between USD 500-USD 999 accounted for a sizable portion of the industry in 2023. Products in this range strike a balance between affordability and quality. Consumers in this segment can find well-made, stylish, and durable pieces without the high costs associated with premium furniture.
- Demand through online channel for bedroom furniture in the U.S. is expected to rise at a substantial CAGR from 2024-2030. This is due to the convenience of shopping from home, a broader selection of products, and the ability to compare prices and reviews easily. Additionally, advancements in augmented reality (AR) technology allow consumers to visualize furniture in their spaces before purchasing, enhancing the online shopping experience and driving demand.
Companies Featured
- Williams Sonoma, Inc.
- Inter IKEA Systems B.V.
- Amazon
- Target Brands, Inc.
- Wayfair LLC
- Ashley Furniture Industries, LLC
- Crate and Barrel
- Rooms to Go
- Living Spaces
- Restoration Hardware, Inc (RH)
- Raymour & Flanigan
- Herman Miller Inc.
- Article
- THUMA Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $47.98 Billion |
| Forecasted Market Value (USD) by 2030 | $72.48 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. U.S. Bedroom Furniture Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Retail/Sales Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Industry Analysis Tools
3.4.1. Porter's Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Influencing Buying Decisions
4.4. Consumer Product Adoption Trends
4.5. Observations & Recommendations
Chapter 5. U.S. Bedroom Furniture Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2023 & 2030
5.2. U.S. Bedroom Furniture Market Estimates & Forecast, By Product, 2018 to 2030 (USD Million)
5.2.1. Beds
5.2.2. Wardrobe & Storage
5.2.3. Dressers & Mirrors
5.2.4. Night Stands
5.2.5. Others
Chapter 6. U.S. Bedroom Furniture Market: Price Range Estimates & Trend Analysis
6.1. Price Range Movement Analysis & Market Share, 2023 & 2030
6.2. U.S. Bedroom Furniture Market Estimates & Forecast, By Price Range, 2018 to 2030 (USD Million)
6.2.1. Less Than USD 500
6.2.2. USD 500 - USD 999
6.2.3. USD 1,000 & Above
Chapter 7. U.S. Bedroom Furniture Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2023 & 2030
7.2. U.S. Bedroom Furniture Market Estimates & Forecast, By Distribution Channel, 2018 to 2030 (USD Million)
7.2.1. Offline
7.2.2. Online
Chapter 8. U.S. Bedroom Furniture Market - Competitive Landscape
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant's Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2023 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
8.9. Company Profiles
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/y3e91o
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