Wooden Bedroom Furniture Market

The global market for wooden bedroom furniture is expected to witness steady growth over the next eight years, with an anticipated CAGR of +4.5% in volume and +6.1% in value from 2022 to 2030. Despite a slight decline in consumption in 2022, the market has shown overall growth over the last decade. Key countries driving consumption include China, Turkey, and the United States. In terms of production, Turkey has shown significant growth, while the United States remains the largest importer. China leads in exports, followed by Vietnam and Malaysia. The market is projected to continue expanding, offering new opportunities for players in the wooden bedroom furniture industry.

Market Forecast

Driven by increasing demand for wooden furniture of a kind used in the bedroom worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market volume to 1B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2022 to 2030, which is projected to bring the market value to $105.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wooden Furniture Of A Kind Used In The Bedroom

In 2022, the amount of wooden furniture of a kind used in the bedroom consumed worldwide declined to 720M units, dropping by -6.4% on 2021. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.8% against 2020 indices. As a result, consumption attained the peak volume of 1.1B units. From 2020 to 2022, the growth of the global consumption remained at a lower figure.

The global wooden bedroom furniture market value reduced to $65.4B in 2022, waning by -6.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.4% against 2020 indices. Global consumption peaked at $86.7B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (98M units), Turkey (76M units) and the United States (51M units), together accounting for 31% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +15.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest wooden bedroom furniture markets worldwide were China ($8.1B), Turkey ($6.6B) and the United States ($4.9B), together comprising 30% of the global market.

Turkey, with a CAGR of +16.5%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of wooden bedroom furniture per capita consumption was registered in Turkey (891 units per 1000 persons), followed by Italy (379 units per 1000 persons), France (193 units per 1000 persons) and Brazil (156 units per 1000 persons), while the world average per capita consumption of wooden bedroom furniture was estimated at 92 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the wooden bedroom furniture per capita consumption in Turkey stood at +14.3%. In the other countries, the average annual rates were as follows: Italy (+14.1% per year) and France (+3.3% per year).

Production

World Production of Wooden Furniture Of A Kind Used In The Bedroom

In 2022, global wooden bedroom furniture production shrank to 727M units, waning by -6.6% compared with 2021 figures. In general, the total production indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. As a result, production attained the peak volume of 1.1B units. From 2020 to 2022, global production growth remained at a somewhat lower figure.

In value terms, wooden bedroom furniture production fell slightly to $62B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 21% against the previous year. Global production peaked at $81.1B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (129M units), Turkey (85M units) and Brazil (39M units), with a combined 35% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Turkey (with a CAGR of +14.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Wooden Furniture Of A Kind Used In The Bedroom

After three years of growth, purchases abroad of wooden furniture of a kind used in the bedroom decreased by -6.7% to 125M units in 2022. In general, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.7% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, global imports attained the maximum at 134M units in 2021, and then fell in the following year.

In value terms, wooden bedroom furniture imports declined modestly to $12.6B in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports reached the peak of $12.6B, leveling off in the following year.

Imports By Country

In 2022, the United States (52M units) was the largest importer of wooden furniture of a kind used in the bedroom, achieving 41% of total imports. It was distantly followed by Germany (8.1M units), comprising a 6.5% share of total imports. The UK (5.6M units), France (4.2M units), Australia (4M units), Chile (3.8M units), Malaysia (3.3M units), Canada (3.2M units), Iraq (2.5M units), the Netherlands (2.4M units), the United Arab Emirates (2.4M units) and Switzerland (2.3M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, Malaysia (+24.2%), Chile (+19.8%), Germany (+7.6%), France (+5.8%), the United Arab Emirates (+4.8%), the Netherlands (+3.8%), Iraq (+3.5%), Australia (+2.1%), the UK (+1.4%) and Canada (+1.2%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +24.2% from 2012-2022. Switzerland experienced a relatively flat trend pattern. While the share of the United States (+8.3 p.p.), Chile (+2.2 p.p.), Malaysia (+2.1 p.p.) and Germany (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($4.8B) constitutes the largest market for imported wooden furniture of a kind used in the bedroom worldwide, comprising 38% of global imports. The second position in the ranking was taken by Germany ($954M), with a 7.6% share of global imports. It was followed by the UK, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +4.1%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.3% per year) and the UK (+2.6% per year).

Import Prices By Country

In 2022, the average wooden bedroom furniture import price amounted to $100 per unit, picking up by 6.9% against the previous year. In general, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2018 an increase of 10% against the previous year. Global import price peaked at $122 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($153 per unit), while Malaysia ($12 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wooden Furniture Of A Kind Used In The Bedroom

Global wooden bedroom furniture exports reduced to 132M units in 2022, which is down by -8% compared with the year before. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 22%. The global exports peaked at 164M units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports reduced to $12.2B in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. As a result, the exports reached the peak of $12.4B, and then shrank slightly in the following year.

Exports By Country

In 2022, China (31M units), distantly followed by Vietnam (17M units), Malaysia (15M units), Poland (12M units) and Turkey (8.4M units) were the major exporters of wooden furniture of a kind used in the bedroom, together generating 63% of total exports. The following exporters - Italy (5.3M units), Brazil (5.2M units), Germany (5M units), Lithuania (3.3M units), Denmark (3.1M units), Indonesia (2.7M units) and Canada (2.6M units) - together made up 21% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Lithuania (with a CAGR of +12.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest wooden bedroom furniture supplying countries worldwide were China ($2.9B), Vietnam ($1.5B) and Poland ($1.1B), together accounting for 45% of global exports. Malaysia, Turkey, Italy, Germany, Brazil, Lithuania, Indonesia, Canada and Denmark lagged somewhat behind, together accounting for a further 34%.

Lithuania, with a CAGR of +14.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average wooden bedroom furniture export price stood at $92 per unit in 2022, growing by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. Over the period under review, the average export prices reached the maximum at $94 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($134 per unit), while Malaysia ($50 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform