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Domestic Bedroom Furniture Market Report - UK 2014-2018 Analysis

AMA Research are pleased to announce the publication of the 12th edition of the report: 'Domestic Bedroom Furniture Market Report - UK 2014-2018 Analysis'. The report includes up to date information on recent trends and issues that impact on the market.

The market has followed an interesting path in recent years, experiencing a downturn driven by the recession followed by a period of stabilisation in value terms, although volumes have continued to decline. The bedroom furniture market is forecast to show slow but increasing growth in the next few years, though perhaps at a slower rate than the overall furniture industry, and by 2018 is estimated to reach the peak values achieved in 2007 - reflecting over a decade of difficult trading and illustrating the severity of the recession and its impact on some consumer durable markets.

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The report contains:

  • A DETAILED ASSESSMENT OF THE MARKET - analysis of major developments and current and future trends.
  • REVIEW OF KEY MATERIAL AND SECTOR TRENDS.
  • REVIEW OF THE SUPPLY AND DISTRIBUTION STRUCTURE -assessment of impact of import levels on UK firms.
  • FORECASTS MARKET DEVELOPMENTS UP TO 2018.
  • The report examines the various aspects driving change in the industry and assesses the likely future prospects for the sector through to 2018.


Areas of particular interest:

  • Market performance of bedroom furniture sectors, including underlying growth factors, trends and future prospects.
  • The changing role of the bedroom as smaller homes are put under pressure to use space efficiently. Growing need for multi-purpose furniture and good design.
  • Development of niche sectors such as children's bedroom furniture and sliding wardrobe door systems, together with an increase in demand for multi-functional bedroom furniture.
  • The high level of imports, particularly from the Far East, which continues to put pressure on UK manufacturers.

Leading companies mentioned in the report include:

Andrena Furniture, Bebecar (UK), Canburg, Carlton Furniture, Charles Barr Furniture, Chartley Furniture Design, Corndell Furniture Co, Crown Products (Kent), Daval Furniture, Dean House, Ercol Furniture, Flexa Furniture, Gautier, H. Morris & Co, Hammonds Furniture, Hülsta Furniture (UK), Kingstown Holdings, Neville Johnson, Paragon Furniture, Sharps Bedrooms, Spacemaker Bedrooms, Starplan Furniture, Stompa UK, Strachan Furniture Makers, The Symphony Group, Thuka Furniture, Whiteleaf Furniture, Willis Gambier (UK), Woodberry Bros and Haines, Wren Living.

Key areas covered in the report include:

THE MARKET

  • UK domestic bedroom furniture market, market definition, size and current situation 2008-2013, recent market performance, factors underpinning demand and restricting growth.
  • Key market influences, including levels of construction, housing market, economic trends, impact of global credit crisis, short-term prospects and so on.
  • Future prospects - market size and forecast trends up to 2018.
  • Growth in imports and change in level of exports to 2013, supply mix and countries of origin for imports.
  • Trends in terms of fitted and freestanding furniture, home office, recreational and multi-purpose furniture.
  • Overall UK furniture market size, key drivers and recent trends.

PRODUCT MIX AND MATERIAL TRENDS

  • Bedroom furniture by type, i.e. fitted or freestanding, product mix and recent trends.
  • Key factors driving growth and change in the industry - pressure on space, demands from children/young people, technology impacts, etc.
  • Product mix: flat pack and rigid - market share, trends, driving factors etc.
  • Style and design trends, growth in niche sectors, mix between contemporary and traditional styles.
  • Growth sectors, i.e. storage, children's and teenagers' bedroom furniture - shares, recent trends, future prospects, market drivers etc.
  • Materials and finishes, share by materials and trends.

DISTRIBUTION/SUPPLIERS

  • Changes in market structure - consolidation in supply structure, growth of imports etc.
  • Major furniture manufacturers and suppliers by turnover size and market share - recent changes, market positioning etc.
  • Major distribution channels, and share by type of outlet - Furniture Multiples, Independents, Mail Order/Catalogue, Specialists, Dept. Stores/Variety Stores/DIY etc.
  • Key companies, by type of outlet - major players.
  • Supply chain issues.

FUTURE PROSPECTS

  • Key growth areas - prospects for 2014 and up to 2018.
  • Important developments in the major product and market sectors.
  • Review of key economic factors impacting the market.

SUMMARY OF REPORT CONTENTS

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The UK Bedroom Furniture market was estimated to be worth approximately £580m (MSP) in 2013, representing approximately 12% of the overall Domestic Furniture market. Following substantial growth in the early 2000's, the market became more difficult as the decade progressed with significant declines in 2008 (4%) and 2009 (6%). Although there was modest growth in value terms in 2012, the bedroom furniture market remained static in 2013 - with a decline in real terms.

The onset of the housing crisis towards the end of 2007 and the impact of the global credit crunch, resulting in the world economic recession, combined to reduce levels of consumer confidence. The construction industry was particularly badly affected, which in turn impacted adversely on related markets, such as furniture, sanitaryware, floorcoverings and contributed to growing uncertainty amongst consumers. Other pressures within the domestic furniture market have included the rapid penetration of low cost imports from the Far East and Eastern Europe, which has driven down prices and margins.

Other constraints consist of increasing input costs, such as transport, raw materials and labour, as well as increased competition from a number of high profile players, including IKEA, Argos, Next, Shop Direct, Laura Ashley, together with threats from relative newcomers, such as Tesco and Asda. These outlets will continue to provide strong competition to the established furniture retailers. Whilst imports have increased significantly in the last decade and currently account for around 66% of the bedroom furniture market, most fitted furniture is manufactured in the UK.

Fitted furniture has increased its share of the bedroom furniture market and currently accounts for 27% of the market, with many of the UK fitted furniture suppliers being vertically integrated companies, involved in the design, manufacture and installation of their own furniture, often marketed through their own retail outlets or via concessions in other stores.

Contemporary styling continues to be popular, boosted by the influx of European styling and flat pack products, which has influenced styles and tastes within the UK furniture market for a number of years. Modular furniture continues to be popular and the trend towards smaller houses and households is likely to sustain this trend, as demand for clever storage solutions continues to grow.

The nature of furniture retailing is evolving. Online sales are increasing from a low level and, whilst this may be beneficial to smaller suppliers unable to afford a significant High Street presence, it is also placing additional demands on all companies in terms of distribution and customer services. However, most major retailers of bedroom furniture have an established online presence and other groups with a national distribution structure are making greater use of collection services via their own outlets.

Future growth within the bedroom furniture sector is expected to come from the fitted furniture sector, driven by heavy promotional expenditure, and the lower end of the market, where companies such as IKEA, Argos and Tesco continue to expand their ranges of affordable and innovative products through wide distribution networks. Another key area of potential growth is the children and teenagers' bedroom furniture sector, which is currently witnessing reasonable levels of growth. This growth is a reflection of the changing use of children's bedrooms, from a place for sleep only, into a place to sleep, work and play. As a mature sector, the bedroom furniture market is forecast to show slow but increasing growth over the next few years to reach a value of £653m in 2018.

Table of Contents

1 INTRODUCTION

  • 1.1 BACKGROUND
  • 1.2 SOURCES OF INFORMATION

2 SUMMARY AND FUTURE PROSPECTS

  • 2.1 SUMMARY
  • 2.2 FUTURE PROSPECTS

3 ECONOMIC ENVIRONMENT

  • 3.1 GDP
  • 3.2 INFLATION & INTEREST RATES
  • 3.3 UNEMPLOYMENT
  • 3.4 HOUSEHOLD CONSUMPTION
  • 3.5 HOUSING & CONSTRUCTION
  • 3.6 STERLING
  • 3.7 POPULATION PROFILE
  • 3.8 CONCLUSIONS

4 THE OVERALL UK FURNITURE MARKET & HOUSING INFLUENCES

  • 4.1 OVERALL FURNITURE MARKET SIZE AND TRENDS
  • 4.2 CONSUMER CHARACTERISTICS
  • 4.3 HOUSING TRENDS AND DEMOGRAPHICS
    • 4.3.1 New Housebuilding
    • 4.3.2 House Moving
    • 4.3.3 Household Size

5 THE UK BEDROOM FURNITURE MARKET

  • 5.1 MARKET DEFINITION
  • 5.2 MARKET SIZE AND CURRENT SITUATION
  • 5.3 MARKET PROSPECTS
  • 5.4 OVERALL MARKET TRENDS
  • 5.5 IMPORTS AND EXPORTS

6 PRODUCT MIX

  • 6.1 PRODUCT DEFINITION
  • 6.2 FITTED AND FREESTANDING BEDROOM FURNITURE
    • 6.2.1 Product Mix
  • 6.3 TYPE OF BEDROOM FURNITURE - FLAT PACK AND RIGID
    • 6.3.1 Product Mix
  • 6.4 PRODUCT DESIGN
    • 6.4.1 Design Trends
    • 6.4.2 Storage Solutions
    • 6.4.3 Children's and Teenagers' Bedroom Furniture
    • 6.4.4 Sliding Wardrobe Door Systems
  • 6.5 MATERIALS AND FINISHES
    • 6.5.1 Wood
    • 6.5.2 Other Materials and Finishes

7 BEDROOM FURNITURE SUPPLIERS

  • 7.1 MARKET SHARE
  • 7.2 MAJOR SUPPLIERS
  • 7.3 OTHER SUPPLIERS

8 DISTRIBUTION

  • 8.1 STRUCTURE
  • 8.2 FURNITURE MULTIPLES
  • 8.3 RETAIL SPECIALISTS
  • 8.4 MAIL ORDER AND CATALOGUE RETAILERS
  • 8.5 FURNITURE INDEPENDENTS
  • 8.6 DEPARTMENT STORES AND VARIETY CHAINS
    • 8.6.1 Department Stores
    • 8.6.2 Variety Chains
  • 8.7 DIY MULTIPLES
  • 8.8 OTHERS
    • 8.8.1 The Internet
    • 8.8.2 Grocery Multiples

TABLES AND CHARTS

  • TABLE 1 UK DOMESTIC BEDROOM FURNITURE MARKET 2008-2018 - £M MSP
  • TABLE 2 GDP DATA - 2010-2013 - KEY CONSTITUENT ELEMENTS
  • CHART 3 INTEREST RATES AND INFLATION (CPI) FROM 1994-2018
  • CHART 4 PDI & SAVINGS RATIO AT CURRENT PRICES 1995-2018
  • TABLE 5 EXCHANGE RATE FLUCTUATIONS 2008-2014 - STERLING TO THE DOLLAR, AND THE EURO, SPOT RATES
  • TABLE 6 THE UK MARKET FOR DOMESTIC FURNITURE 2007-2013 (£M MSP)
  • CHART 7 UK MARKET MIX OF FURNITURE 2002, 2007 & 2013
  • TABLE 8 HOUSE BUILDING COMPLETIONS 2009-2017 - GREAT BRITAIN (000'S DWELLINGS)
  • CHART 9 HOUSE BUILDING COMPLETIONS (ENGLAND) 2001-2011 BY TYPE OF DWELLING - %
  • TABLE 10 NUMBER OF PROPERTY TRANSACTIONS IN THE UK 2007-2015 (000'S)
  • TABLE 11 AVERAGE HOUSEHOLD SIZE FOR GREAT BRITAIN 1991-2016
  • CHART 12 UK DOMESTIC BEDROOM FURNITURE MARKET 2008-2018 - £M MSP
  • TABLE 13 IMPORTS AND EXPORTS OF WOODEN BEDROOM FURNITURE 2007-2013 BY VALUE (£M)
  • CHART 14 % SUPPLY MIX IN THE UK BEDROOM FURNITURE MARKET 2000, 2005 AND 2013
  • TABLE 15 COUNTRIES OF ORIGIN FOR IMPORTS OF WOODEN BEDROOM FURNITURE 2009-2013 MARKET SHARE BY VALUE (£M)
  • CHART 16 MIX OF FITTED & FREESTANDING BEDROOM FURNITURE - 2013 BY VALUE
  • TABLE 17 FITTED AND NON-FITTED KITCHEN, BEDROOM AND BATHROOM FURNITURE MARKET SHARE BY VALUE 2013
  • CHART 18 THE UK BEDROOM FURNITURE MARKET - VALUE MIX OF RIGID/FLAT PACK 2001-2013
  • CHART 19 MIX OF CONTEMPORARY/TRADITIONAL STYLES OF BEDROOM FURNITURE 2013
  • CHART 20 MIX OF CHILDREN'S & TEENAGE/ADULT BEDROOM FURNITURE 2013
  • TABLE 21 MARKET SHARE OF MAJOR BEDROOM FURNITURE SUPPLIERS 2013 - BY VALUE AT MSP
  • TABLE 22 DISTRIBUTION OF BEDROOM FURNITURE - 2013 BY VALUE SHARE
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