Upholstered Furniture and Beds Market Report - UK 2012-2016 AnalysisAMA ResearchMarch 22, 2012 87 Pages - SKU: AJLA3830911 |
Additional Information
The upholstered furniture and beds market has moved in a volatile pattern in recent years and was estimated to be worth £2.12bn at MSP in 2011. Unexpected growth in 2010 may have been caused partly by consumers bringing forward purchases prior to an increase in VAT in early 2011, since this was followed by a further decline in that year. Both the Upholstered Furniture and Beds markets are in the mature stage of their product life cycles and both are experiencing high levels of price competition.Upholstered Furniture
In 2011 the Upholstered Furniture market was worth an estimated £1,520m (at MSP), with the domestic market accounting for around 90% in value terms and the contract sector 10%.
The maturity of the market has prompted the development of many niche sectors, as manufacturers target their products more effectively to differentiate themselves. This has generally involved the creation of new brands and product ranges, in addition to celebrity endorsements in order to target products at specific sectors of the market. Although sales of 3 piece suites have declined to less than 30% of the market, suites consisting of a sofa and at least one other piece still account for 63% of the market, with combinations of 2 sofas becoming a popular choice.
Imports reached their peak in 2006 at a level of £797.8m, but have since fallen to £735.9m in 2010 – around 46-47% of the market – with imports from China now accounting for the major share. Figures for 2011 indicate that imports fell sharply. Exports have moved in a volatile pattern in recent years, though 2010 and 2011 have ben more positive with around 90% exported to countries within the EC. The key export destination from the UK remains the Irish Republic, accounting for over 40% of the total.
The market for upholstered furniture is expected to show modest growth of 1% in 2012, but increasing growth in the period to 2016, reaching a market size of £1,755m by the end of that period.
Beds
The market for beds and mattresses fell steadily in the 2008-2011 period, reaching an estimated £602m by 2011, compared to £605m in 2010 and £610m in 2009. Divans account for around 34% of the market by value, although market share has been eroded steadily by the strong growth in demand for bedsteads, including wooden, upholstered and metal bedsteads.
Total imports of beds and mattresses have increased steadily in recent years, reaching £147.6m in 2011, compared to £129.3m in 2008, while imports of metal bedsteads reached £62.6m in 2011 and accounted for 42% of bed imports by value in that year.
During the last 5 years there has been a marked trend away from single to double beds and, in particular, to king sized beds. This growth can be attributed largely to falls in the price of double beds, relative to single beds, with prices being driven down as a result of the high level of price competition within the market.
The market for beds is forecast to increase by 1.3% in 2012 to reach £610m, before increasing steadily to reach £695m by 2016.
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