Market Research Future (MRFR) has published a cooked research report on the “Global Canopy Beds Market”that contains information from 2018 to 2032.Thecanopy beds market is estimated to register a CAGR of 3.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Canopy Beds market— 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 Yitahome
The global canopy beds market is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD 8.9 Billion by 2032.
The market for canopy beds is expanding steadily as a result of the rising desire for opulent and aesthetically beautiful bedroom furnishings. Changing interior design trends, increased disposable incomes, and the demand for a chic and comfortable resting environment are some of the drivers driving the industry. Canopy beds are offered in a range of styles, materials, and price points to suit a variety of consumer preferences.
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The global canopy beds market has been segmented based product type, end use and distribution channel.
On the basis of product type, the market is segmented into wooden and metal. In 2022, the wooden sector dominated the whole market. Hardwood beds are more enticing because there are so many different design alternatives available.
Based on end use, the global canopy beds market has been segmented into residential and commercial. In 2022, the commercial segment dominated the world market. The rise in hotels and tourism around the world has raised the demand for canopy beds.
Based on distribution channel, the global canopy beds market has been segmented into supermarket/hypermarket, specialty store, e-commerce, and B2B. In 2022, the market for canopy beds was controlled by the supermarket/hypermarket category. The availability of a large assortment, reasonable operating hours, ample of parking, and growing popularity are the main factors causing the increase.
The global canopy beds market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe canopy beds market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The canopy beds market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World canopy beds market comprises of Middle East, Africa, and Latin America.
The North America canopy beds market dominated this market in 2022 (45.80%).This is brought on by rising hotel occupancy rates and increased travel for honeymoons and family holidays. A large portion of North American nations have seen a surge in tourism as a result of the availability of exotic and affordable honeymoon destinations.
Moreover, in 2022, the Europe canopy beds market held a sizable market share. Europe is one of the world's most popular destinations for honeymoons and vacations. The retro appearance of hotels in the most European region with additional canopy beds is one of the factors impacting the regional market for the product.
Additionally, from 2023 to 2032, the Asia Pacific canopy beds market is anticipated to grow significantly. Some of the key factors impacting the need for canopy beds in this region include the rise in manufacturers, rising tourism, and the allure of canopy beds.
Furthermore, the rest of the world's canopy beds market is divided into the Middle East, Africa, and Latin America. Latin America's market for canopy beds is expanding steadily as a result of rising desire for chic and opulent bedroom furnishings. The market is being driven by rising disposable incomes and changing lifestyle preferences. To draw clients, major players are introducing cutting-edge designs and materials.
Key Findings of the Study