Global Bean Bag Chairs Market Size, Trends & Analysis - Forecasts to 2026 By Product Type (Outdoor bean bag chairs, Indoor bean bag chairs), By End User (Residential, Commercial), By Distribution Channel (Online, Offline), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Bean Bag Chairs Market Insights
The global bean bag chairs market is expected to generate revenue amounting to USD 3.59 billion in 2020, and is projected to reach to USD 4.60 billion by 2026, growing at a CAGR of 4.25% over the forecast period. Rise in the number of construction activities across the globe is one of the major factor driving the market for bean bag chairs during the forecast period. Growing demand for luxury home furniture is expected to boost the market growth. Favorable supportive government initiatives for the construction of residential buildings, along with growing middle class population, is expected to propel the market growth during the forecast period. Increasing penetration, coupled with product visibility, and growing consumer need for a flexible space in home are some of the key factors propelling the market growth for bean bag chairs. Growing demand for luxury and branded furniture across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of bean bag chairs. However, high product cost is likely to hamper the market growth during the forecast period.
Bean Bag Chairs Market Size: By Segmentation
The global bean bag chairs market is segmented on the basis of product type into outdoor bean bag chairs and indoor bean bag chairs. The indoor segment is expected to hold the largest market share in the global bean bag chairs market during the forecast period. Indoor chairs are lightweight, easy to clean, and portable, thereby gaining popularity among consumers. Growing demand for luxury and branded furniture, coupled with increasing spending on home décor, is the key factor driving the demand for indoor bean bag chairs during the forecast period. Outdoor segment is expected to grow at a significant market share during the forecast period. Bean bag chairs are also gaining popularity in the commercial sector, especially in offices, restaurants, cafes, hotels, and lounges, among other places.
On the basis of distribution channel, the market is segmented into online and offline. The offline segment is expected to hold the largest market share in the global bean bag chairs market during the forecast period. Increasing number of furniture retail stores, especially in emerging countries such as India, China, and Brazil among others is expected to fuel the market growth during the forecast period. The online segment is expected to grow at a high CAGR during the forecast period. Increasing penetration of internet and smartphone across the globe is driving the market growth for online segment. Growing number of online websites and e-commerce sites is also driving the market growth for online segment.
Bean Bag Chairs Market Size: By Region
On the basis of region, the market of bean bag chairs is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Europe region is expected to dominate the market during the forecast period. Rise in demand for bean bag chairs from residential sector is driving the market growth in the region. Growing demand for branded furniture and presence of leading furniture companies such as IKEA, Roche Bobois, Ligne Roset, Poltrona Frau and B&B Italia among others is driving the market growth in the region. Growing demand from commercial applications such as hotels, hospitals, and corporate companies is boosting the bean bag chairs market in the region. The Asia Pacific region is expected to grow at high CAGR during the forecast period. Increasing product penetration and rising income among households is driving the market growth. In addition, surge in the number of branded retail outlets, especially in India and China, is expected to drive the market growth in the region.
Bean Bag Chairs Market: Share & Competitor Analysis
A bean bag chair is a large fabric bag, filled with polystyrene beads (Sacco chair), dried beans, or a similar substance. The product is an example of an anatomic chair. The shape of the object is set by the user. Although designed to be a chair, due to its amorphous nature it is often confused with tuffets and ottomans. Bean bags are made from materials including leather, suede, corduroy and fake fur. Polyester bean bags are waterproof and can be used outdoors. Giant bean bags can also be used as a cheap alternative to buying a sofa or couch.
Some of the key players operating in the bean bag chairs market include: AFA Inc, LUVU BRANDS, CordaRoy's, Comfy Sacks, Lovesac, Yogibo LLC, Fatboy, SUMO LOUNGE INTERNATIONAL, Ace Bayou Corp., KingBeany, Lumaland Inc., MUJI, Ultimate Sack LLC, Bean Bag City, and Jaxx Bean Bags, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Bean Bag Chairs Market: By Product Type
Bean Bag Chairs Market: By End User
Bean Bag Chairs Market: By Distribution Channel
Bean Bag Chairs Market: By Region
The global Bean Bag Chairs Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Bean Bag Chairs Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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