Canopy Beds Market Size was valued at USD 6.5 Billion in 2022. The Canopy Beds market Technology is projected to grow from USD 6.7 Billion in 2023 to USD 8.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2023 - 2032). Growing ability to spend money on house improvement and home decor as well as a yearning for a lavish lifestyle due to rising standards of living, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The expansion of the worldwide canopy bed market is anticipated to be driven by an increase in consumer expenditure on home improvement and home decor. According to data provided by the National Association of Home Builders (NAHB), for instance, the cost of a single home repair in California grew to over USD 9,565 in 2018, up more than 20% from 2017. The COVID-19 pandemic outbreak has had a favourable effect on the market. This is due to customers throughout the world actively taking involved in house planning, remodelling, and renovation during the lockdown time, which has resulted in a substantial boost in sales of bedding products, especially canopy beds. Additionally, people are replacing their bedding with new, fashionable furniture, such canopy beds. As a result, there is now a greater demand for canopy beds for usage at home, which is helping the market grow globally during the current health crisis.
Demand for canopy beds has increased as a result of increased home customising activities including interior design and home renovation. Additionally, customers are drawn to elegantly designed furniture and products due to rising disposable income and a higher standard of living, which will further propel the expansion of the canopy bed market. The traditional design is making a comeback, and many individuals are choosing old furniture to give their rooms the traditional feel they desire. Many hotels and resorts employ canopy beds to provide guests a beautiful room view. As a result, demand for canopy beds is anticipated to increase due to the expansion of the tourism and hospitality industries, which will support market growth over the forecast period. Manufacturers are emphasising cutting-edge styles and hand knit patterns in response to consumer demand, which is anticipated to drive the market for canopy beds.
Because custom-made beds are becoming more readily available and are becoming more popular in some parts of the world, the markets for canopy beds are expanding quickly. Additionally, the market for canopy beds is positively impacted by the rise in demand for opulent goods, the market's expanding R&D efforts, and the demand from emerging nations. Additionally, rising demand for small, cramped housing, expanding technology advancements, and modernization of production methods provide market participants lucrative chances. Thus, driving the Canopy Beds market revenue.
The Canopy Beds Market segmentation, based on product type, includes wooden and metal. Wooden segment dominated the global market in 2022. The availability of numerous design options makes hardwood beds more appealing. Wooden beds are typically preferred for commercial areas since their surface temperature is unaffected by ambient temperature. It has caused this segment's market to rise. Compared to hardwood beds, metal beds are more affordable and require less upkeep.
The Canopy Beds Market segmentation, based on end use, includes residential and commercial. Commercial segment dominated the global market in 2022. The demand for canopy beds has increased due to the increase in hotels and tourism around the world. The ability to spend more money on house improvement and decoration is anticipated to rise.
The Canopy Beds Market segmentation, based on distribution channel, includes supermarket/hypermarket, specialty store, e-commerce, and B2B. The supermarket/hypermarket segment dominated the Canopy Beds Market in 2022. Major driving forces behind the rise are the availability of a wide selection, practical operating hours, plenty of parking, and rising popularity. The market segment expansion is primarily being driven by the ease of home bed delivery and alluring discount offers.
Figure 1: Canopy Beds Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. 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. Further, the U.S. Canopy Beds market held the largest market share, and the Canada Canopy Beds market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CANOPY BEDS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Canopy Beds market accounted for the healthy market share in 2022. One of the most popular honeymoon and vacation locations worldwide is Europe. The reasons influencing the regional market for the product include the retro appearance of hotels in the most European region with additional canopy beds. Further, the German Canopy Beds market held the largest market share, and the U.K Canopy Beds market was the fastest growing market in the European region
The Asia Pacific Canopy Beds market is expected to register significant growth from 2023 to 2032. The growing number of manufacturers, increased tourism, and the attractiveness of canopy beds are some of the main reasons influencing the need for canopy beds in this region. Moreover, China’s Canopy Beds market held the largest market share, and the Indian Canopy Beds market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Canopy Beds market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Canopy Beds Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Canopy Beds Industry to benefit clients and increase the market sector. In recent years, the Canopy Beds Industry has offered some of the most significant advantages to medicine. Major players in the Canopy Beds market, including 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, are attempting to increase market demand by investing in research and development operations.
Online retailer Charles P. Rogers produces and sells a large selection of beds, mattresses, and bedding in different styles. Factory direct retailer Charles P. Rogers & Co. Inc. in New York provides canopy beds with free delivery and a lifetime structural warranty. They recently debuted Real Bed, their first boxed bed, in May 2020. RealBed.com, two corporate locations in Manhattan's Flatiron District and its factory store in East Rutherford, New Jersey, as well as online at RealBed.com, offer it for purchase. The bed has inner tufting, pocket springs, and layers of organic cotton, wool, and natural latex for comfort. A microcoil and natural latex mattress topper from Real Bed is available separately. The mattress retails for USD 950 in queen size, while the topper costs USD 500.
In Webster, New York, Amish Furniture offers home furnishing services. Customers of the business can purchase hand-crafted wooden dining, bedroom, and living room furniture. Pickering-based Amish Furniture Designed Inc. is a furniture business that specialises in Amish-made, solid-wood furniture designs. To accommodate High Point Market, an Ohio-based manufacturer of Amish furniture has relocated its showroom in March 2023.
Canopy Beds Industry Developments
Oct 2021: The Four Poster Bed Company's canopy beds were the most sought-after beds in the canopy category on the online shopping site Amazon. Every bed is custom-made to the exact specifications of the customer. Although bed frames can be constructed to fit continental and American mattress sizes, beds are priced according to typical U.K. mattress sizes.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 6.5 Billion |
| Market Size 2023 | USD 6.7 Billion |
| Market Size 2032 | USD 8.9 Billion |
| Compound Annual Growth Rate (CAGR) | 3.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End Use, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 |
| Key Market Opportunities | Consumer trend leaning towards vintage look |
| Key Market Dynamics | Rise in spending power on home décor and home renovation and increasing standard of living and need to have a luxurious life owing to increase in disposable income |
Canopy Beds Market Highlights:
Frequently Asked Questions (FAQ) :
The Canopy Beds Market size was valued at USD 6.5 Billion in 2022.
The global market is projected to grow at a CAGR of 3.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the 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 Yitahome
The Wooden Product Type dominated the market in 2022.
The Commercial End Use had the largest share in the global market.
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Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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