Canopy Bed Market Expected to Reach $8.4 Billion by 2030-Allied Market Research

Canopy Bed Market

Canopy Bed Market

PORTLAND, OR, UNITED STATES, Nov 22, 2021 / – Demand for four poster beds is expected to increase over the forecast period. This is due to increased consumer spending for home improvement and the increase in the number of commercial spaces, including hotels and guest houses.

According to a new report from Allied Market Research, “Global Canopy Beds Market By Product Type, End-User, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global Canopy Beds market size has been increased to. estimated at $ 6.2 billion in 2020 and projected to reach $ 8.4 billion by 2030, a 3.2% CAGR. Four poster bed is a type of bedding that has always been the ark of comfort and sophistication, offering warmth and privacy. Soaring DIY and home textiles spending, as well as the increase in commercial space, are the main driving forces behind the global four-poster bed market. However, the increase in the raw material cost for the canopy bed is an important restraining factor in the market. On the contrary, the improvement in lifestyle due to the increase in the disposable income of individuals, especially in developing countries, is expected to offer immense opportunities for market participants over the forecast period.

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The outbreak of the COVID-19 pandemic has had a positive impact on the market. This is attributed to the rise in sales of bedding products, including four-poster beds, and rising spending on home improvement furniture, including four-poster beds, worldwide.

The global Canopy Bed Market is segmented into product type, end-user, sales channel, and region. By product type, the market is divided into wood and metal. Depending on the end user, it is divided into residential and commercial areas. On the basis of the sales channel, it is divided into supermarket / hypermarket, specialty store, e-commerce and B2B. By region, the market is in North America (USA, Canada and Mexico), Europe (Germany, France, Great Britain, Italy, Spain, Russia and the rest of Europe), Asia-Pacific (China, India, Australia and New Zealand, Japan, South Korea, ASEAN and rest of Asia Pacific) and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and rest of LAMEA).

By product type, the metal canopy bed segment is expected to show the fastest growth over the forecast period.

On a consumer basis, the residential segment is likely to grow due to increasing consumer interest in home decorations with the highest CAGR.

Comprehensive Analysis of COVID-19 Outbreak Impact On Canopy Bed Market:

In addition, depending on the sales channel, the e-commerce segment is expected to dominate the market in terms of sales in the forecast period. This is due to the fact that the online platforms are becoming a popular medium for buying bedding, including four-poster beds, among customers, due to the easy availability of four-poster beds and the advantages of the online store such as product information, function attribute, time-saving function, and the possibility of home delivery to customers.

Main results of the study

By product type, the wood segment had the highest market share in 2020 and grew from 2020 to 2030 with a CAGR of 2.8%.
On a consumer basis, the commercial segment achieved the highest share in 2020 and is expected to have a CAGR of 3.0% from 2020 to 2030.
Depending on the sales channel, the specialty segment acquired the largest share in 2020 and is expected to have a CAGR of 2.4% from 2020 to 2030.
In terms of region, North America had the maximum share of the Canopy Bed market in 2020 and is expected to grow significantly over the forecast period.

Companies can do business in a highly competitive market by launching new products or updated versions of existing products. The major players in the four poster bed market are AFK Furniture, Amish Furniture Factory, Benicia Foundry & Iron Works, Bernhardt Furniture Company, Charles P. Rogers, DHP Furniture, Inspire Q (Top-Line Furniture), The Four Poster Bed Company, TurnPost and itahome.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR has a specific intent to provide business insights and advisory services to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services in 11 industries including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductors and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense, and BFSI .

We have professional business relationships with various companies and this helps us unearth market data which will help us produce accurate research data tables and confirm the highest accuracy of our market forecasts. All of the data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our methodology for obtaining secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and industry analysts.

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