Closets, Nightstands, And Dressers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | > 4.32 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Closets, Nightstands, And Dressers Market Analysis
The Closets, Nightstands, and Dressers Market is expected to register a CAGR of greater than 4.32% during the forecast period(2024-2029).
Customers are changing the way they buy things because home and living trends and ideas are changing. Fashion, lifestyle, and homestyle blogs and publications have an impact on customers.Future market growth is anticipated to be supported by the growing demand for multipurpose furniture. The rising standard of living is another factor driving the market's expansion, which is in turn causing an increase in the introduction of pricier goods.
The COVID-19 pandemic quickly ended any hopes that the furniture market would continue to grow. Many manufacturers and retailers closed factories and stores, and many employees were on furlough, not knowing what would happen to them in the short term. WFM also had a negative impact on sales of closets, nightstands, and dressers, with spare rooms often used as office space.
Closets, Nightstands, And Dressers Market Trends
Rising Online Sales of Closets, Nightstand and Dresser
Over the period an increasing share of the population prefers online shopping platforms for buying groceries or bedroom furniture, as everything is available on online shopping platforms. An increasing number of players are grabbing these opportunities and offering various branded and modern bedroom furniture via online distribution channels. Post-Covid an increasing number of manufacturers are launching their own applications and websites through which customers make orders directly from their websites. With an increasing market revenue of closets, nightstands, and drawers existing at more than USD 36 Billion last year their online revenue share increased to a value of more than 25% last year signifying a rising and diversifying market by sales through online channels
Asia Pacific Leading the Market
With its emerging economies and rising household expenditure, income level is leading to the Asia Pacific emerging as a major market for the sales of closets, nightstands, and dressers. Revenue of the closets, nightstands, and drawers market in Asia Pacific had observed a continuous increase over the years existing at a value of more than USD 9 billion and an increasing revenue share through the online channels. China and India are among the countries in the region that are expected to drive the market over the coming period with China existing as the second largest market for the sales of closets, nightstands, and dressers existing at a value of more than USD 5 Billion last year. In addition, rising sales of the bedroom furniture market in the region are emerging as a push factor for the growth of the market with increasing revenue.
Closets, Nightstands, And Dressers Industry Overview
The report covers major international players operating in the closets, nightstands, and dressers market. The market is consolidated with a few of the major players currently dominating the market with higher shares. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Closets, Nightstands, And Dressers Market Leaders
IKEA
Bed Bath & Beyond Inc.
Williams-Sonoma Inc.
Ashley Furniture Industries, Inc.
Wayfair Inc.
*Disclaimer: Major Players sorted in no particular order
Closets, Nightstands, And Dressers Market News
- In September 2023, IKEA opened its biggest South American store in Colombia, as part of an international expansion plan which includes growth in Peru and Chile with an investment worth USD 600 million.
- November 2022: IKEA Canada announced plans to expand its successful small-store format with a new location in Scarborough, Ontario.
- July 2022: Bed Bath & Beyond Partners with The Novogratz was anticipated to launch curated furniture and décor. Bed Bath & Beyond was also teaming up with husband-and-wife design duo, The Novogratz, for back-to-college with colorful, modern furniture and décor.
Closets, Nightstands, and Dressers Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Recent Trends Influencing the Market
4.7 Insights into Technology Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Distribution Channel
5.1.1 Supermarkets & Hypermarkets
5.1.2 Specialty Stores
5.1.3 Online
5.1.4 Other Distribution Channels
5.2 By Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 South America
5.2.2.1 Brazil
5.2.2.2 Argentina
5.2.2.3 Rest of South America
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 France
5.2.3.3 United Kingdom
5.2.3.4 Rest of Europe
5.2.4 Asia-Pacific
5.2.4.1 China
5.2.4.2 Japan
5.2.4.3 India
5.2.4.4 Rest of Asia-Pacific
5.2.5 Middle East & Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 South Africa
5.2.5.4 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 IKEA
6.2.2 Bed Bath & Beyond Inc.
6.2.3 Williams-Sonoma, Inc.
6.2.4 Ashley Furniture Industries, Inc.
6.2.5 Wayfair Inc.
6.2.6 Target Corporation
6.2.7 Herman Miller
6.2.8 Home Depot, Inc.
6.2.9 Heritage Home Group
6.2.10 La-Z-Boy*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Closets, Nightstands, And Dressers Industry Segmentation
This segment focuses on furniture pieces that are primarily found in the bedroom. It includes wooden furniture such as wardrobes, closets, chests, dressers, and nightstands. Closets and dressers are primarily used to store clothing. Meanwhile, nightstands are practical for storing items that people need before, during, or after sleeping, such as books, medicine, or a glass of water.
A complete background analysis of the closets, nightstands, and dressers market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report. The Closets, Nightstands, And Dressers Market Is Segmented By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online, And Other Distribution Channels) And By Geography (North America, South America, Europe, Asia-Pacific, And The Middle East & Africa). The Report Offers Market Sizes And Forecasts In Value (USD) For All The Above Segments.
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Closets, Nightstands, and Dressers Market Research Faqs
What is the current Closets, Nightstands, and Dressers Market size?
The Closets, Nightstands, and Dressers Market is projected to register a CAGR of greater than 4.32% during the forecast period (2024-2029)
Who are the key players in Closets, Nightstands, and Dressers Market?
IKEA, Bed Bath & Beyond Inc., Williams-Sonoma Inc., Ashley Furniture Industries, Inc. and Wayfair Inc. are the major companies operating in the Closets, Nightstands, and Dressers Market.
Which is the fastest growing region in Closets, Nightstands, and Dressers Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Closets, Nightstands, and Dressers Market?
In 2024, the Asia Pacific accounts for the largest market share in Closets, Nightstands, and Dressers Market.
What years does this Closets, Nightstands, and Dressers Market cover?
The report covers the Closets, Nightstands, and Dressers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Closets, Nightstands, and Dressers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Closets, Nightstands, and Dressers Industry Report
Statistics for the 2024 Closets, Nightstands, And Dressers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Closets, Nightstands, And Dressers analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
