Global Sofa Beds Market Overview:
Sofa Beds are the big cushions, which comes under the working process of upholstery that enables the user to provide better comfort and a lavish look to their sofa's. These sofa beds are designed in such a way that the consumer can feel so comforted just like the way he or she feels in his or her beds. Sofa beds are manufactured by different kinds of materials and fabrics. According to statista, the revenue generated by the Seats & Sofas segment amounts to USD 64,008m in 2019. And the market is expected to grow annually by approximately 1.3% (CAGR). Hence enhancing the growth of the sofa beds market directly. Some of the players profiled in the study are Willow & Hall (United Kingdom), Natuzzi (Italy), Alstons (United Kingdom), MERAL (Belgium), Shenzhen PG Century Furniture (China), JAY-BE (United Kingdom), Stylus (United Kingdom), Sofa So Good Australia (Australia) and Kiwi Bed & Sofas (New Zealand).
On the basis of geography, the market of Sofa Beds has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline will boost the Sofa Beds market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fabric, the sub-segment i.e. Leather will boost the Sofa Beds market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increasing Demand for Sofa in Both Emerging and Developed Countries
- Increasing Demand for fully Furnished Apartments with Luxuries Sofa
Influencing Trend
- Rising Sofa as a Symbol of Fashion as well as Trend in Households
- Growing Customer Preferences in terms of Factors namely Luxury as well as Comfort
Restraints
- High Price Associated with these Sofas
Opportunities
- Rapid Pace of Urbanization and Growth in the Real Estate Industry is Growing the Demand for Sofa Beds
- Increase in the Inclination towards Modern Interiors
Challenges
- Rising Prices of the Raw Materials such as Leather, Foam, and Wood is a bit Challenging
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global sofa beds market can witness an upsurge in the forecast period.
Target Audience:
Sofa Beds Manufactures, Sofa Beds Distributors, Potential Investors, End-Users and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Sofa Beds market on the basis of product [Stent Sofa Beds and Cushion Sofa Beds] , application [Residential Use and Commercial Use], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Sofa Beds market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Sofa Beds industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Sofa Studio (United Kingdom), Forest Sofa (United Kingdom) and Rolex Furniture (India).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Sofa Beds market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.