The global canopy bed market size was valued at $6.2 billion in 2020, and is projected to reach $8.4 billion by 2030, registering a CAGR of 3.2%.
A canopy bed is a type of bed that is hung with bed curtains above it resembling a roof. Functionally, the canopy offers warmth, comfort, and privacy, and block light & sight. In addition, canopy bed plays a vital role in home décor and beautifying the ambience. Two types of canopy beds are available in the market, including wooden canopy bed and metal canopy bed. The canopy bed is easily available through various sales channels such as online store, specialty store, and supermarket, which aid in maximum revenue generation.
Rise in spending power on home décor and home renovation is expected drive the growth of the global canopy bed market growth. For instance, according to the statistics shared by the National Association Of Home Builders (NAHB) in 2018, the spending per home improvement in California increased to over $9,565 with a rise of over 20% as compared with 2017.
The outbreak of the COVID-19 pandemic has shown a positive impact on the market. This is attributed to the fact that sales of bedding products, including canopy bed has witnessed significant increase, as consumers across the globe are now actively getting involved in home designing, remodeling, and renovation during the lockdown period. Furthermore, consumers are choosing to replace their bedding products, with new and aesthetic furniture including canopy bed. This, in turn, has increased the demand for canopy bed to be used at home, which positively impacts the market growth, globally during the global health crisis.
The global canopy bed market is segmented into product type, end user, distribution channel, and region. By product type, the market is classified into wooden and metal. Depending on end user, it is bifurcated into residential and commercial. On the basis of distribution channel, it is segregated into supermarket/hypermarket, specialty store, e-commerce, and B2B. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of LAMEA).
On the basis of product type, the wooden segment accounted for the highest market share in 2020.This is attributable to the surface temperature of the wooden canopy bed, which is not affected much by the temperature of its surrounding, thereby increasing its demand among the customers.
By Product Type
The Wooden segment dominates the global Canopy Bed market and is expected to retain its dominance throughout the forecast period.
By end user, the market is divided into residential and commercial. In 2020, the commercial dominated the global canopy bed market, owing to rise in number of hotels, guest houses, and other types of travel accommodation across the globe.
By End User
The Commercial segment dominates the global Canopy Bed market and is expected to retain its dominance throughout the forecast period.
Depending on distribution channel, the market is fragmented into specialty store, supermarket/hypermarket, e-commerce, and others. In 2020, the supermarket/hypermarket segment garnered the largest share in the global canopy bed market. This is attributed to the fact that supermarket/hypermarket is gaining high popularity, owing to availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing boost the popularity of supermarkets/hypermarkets in developed and developing regions.
By Distribution Channel
The B2B segment dominates the global Canopy Bed market and is expected to retain its dominance throughout the forecast period.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America led the market in 2020, owing to infrastructure development in the U.S. such as increase in hotels, guest houses, and restaurants, which propel the demand for canopy bed.
By Region
The North America segment dominates the global Canopy Bed market and is expected to retain its dominance throughout the forecast period.
The key players operating in the global canopy bed market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global canopy bed industry analyzed in this report include 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.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current canopy bed trends, estimations, and dynamics of the global canopy bed market for the period of 2020–2030 to identify the prevailing market opportunities.
- The key countries in four major regions have been mapped depending on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region have been mapped according to their revenue contribution to the global industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes regional as well as global the canopy bed market analysis, key players, market segments, application areas, and growth strategies.
Key Market Segments
By Product Type
- Wooden
- Metal
By End Use
- Residential
- Commercial
By Distribution Channel
- Supermarket/Hypermarket
- Specialty Store
- E-commerce
- B2B
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia and New Zealand
- South Korea
- ASEAN
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Rest of LAMEA
Canopy bed Market Report Highlights
| Aspects | Details |
 By PRODUCT TYPE |
|
 By END USER |
|
 By DISTRIBUTION CHANNEL |
|
 By Region |
|
 Key Market Players | DHP FURNITURE, BERNHARDT FURNITURE COMPANY, AFK FURNITURE, CHARLES P. ROGERS, AMISH FURNITURE FACTORY, TURNPOST, YITAHOME, INSPIRE Q (TOP-LINE FURNITURE), BENICIA FOUNDRY & IRON WORKS, THE FOUR POSTER BED COMPANY |
Analyst Review
The prominent players operating in the canopy bed market have adopted developmental strategies such as product launch to fuel the demand for canopy beds. In addition, they have emphasized on continuous innovations in their products to maintain a strong foothold in the market and to boost the canopy bed demand globally.
In addition, rise in population and urbanization propel the growth of the global canopy bed market. Moreover, increase in disposable income and improvement in standard of living provide various opportunities to manufacturers in the canopy bed market. Hence, to maintain foothold in the market, manufacturers are adopting innovation in production of furniture, including canopy bed. These innovative ideas include attractive designs and use of strong, durable, and eco-friendly materials.
Furthermore, majority of canopy bed manufacturers are expanding their business by shifting their preference toward online platform. As through online platforms, manufacturers can sell their products by reducing distribution costs out of their profit margins.
However, increase in cost of raw materials is projected to hamper the growth of the canopy bed market during the forecast period.
The global canopy bed market size is projected to reach $8.4 billion by 2030.
The global canopy bed market is projected to register a CAGR of 3.2% from 2021 to 2030.
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The global canopy bed market is segmented into product type, end user, distribution channel, and region.
2020 was considered as the base year in the canopy bed market report.
The top companies in the canopy bed market AFK Furniture, Amish Furniture Factory, Benicia Foundry & Iron Works, Bernhardt Furniture Company, Charles P. Rogers, DHP Furniture, Inspire Q, The Four Poster Bed Company, TurnPost, and itahome.
North America market holds the maximum market share of the Canopy Bed Market.
The canopy bed market is rapidly returning to its normal stage, countersigning a steady increasing demand, majorly from the hospitality industry.
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