Global Bean Bag Chairs Market By Product (Indoor, Outdoor), By Distribution Channel (Offline, Online), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028
- Published date: May 2023
- Report ID: 22902
- Number of Pages: 211
- Format:
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Bean Bag Chairs Market Overview
The global bean bag chairs market size expected to be USD 5.66 billion by 2032 from USD 3.64 billion in 2021 and is projected to grow at a CAGR of 4.10% during the forecast period.
The demand for beanbag chairs is driven by the growing construction industry. In countries like the U.S.A., Germany, and U.K., residential and commercial building construction is on the rise. Bean bag chair sales are likely to rise due to increased demand for premium home furniture in the future.
In addition, the market is expected to grow due to supportive government programs for residential building construction and the rising middle class.
Market Scope:
Product analysis
In 2021, indoors held the largest share at 78%. These chairs are lightweight and portable which makes them popular among consumers. The forecast period will see a significant increase in demand for indoor beanbag chairs. This is due to growing spending on home decor and luxury brands. The growth of the bean bag chairs market will also be supported by government initiatives such as Homes for All.
The fastest expected growth in outdoor sales is at 5.2%. Bean bag chairs have gained popularity outside of the residential industry. They can be found in offices, cafes, restaurants, and other commercial establishments that are casually set up. This will encourage market growth in the years 2019-2025.
Distribution Channel analysis
The largest share in 2021 was held by the offline segment at 85.1%. Statisticians show that 49% of Americans prefer to purchase products in stores. In-store shopping allows customers to view the product before purchasing. They can also avoid shipping charges and speak with a representative. A growing number of furniture stores in emerging countries, such as India and China, will fuel the market’s growth from 2023 through 2032.
MUJI for instance, a major player in the Bean Bag Chairs market plans to add two stores per year in India. They also plan to open roughly 1,200 stores globally by 2020. It is also expected that the offline channel will see a rise in product visibility coupled with the penetration by luxury home decor manufacturers such as IKEA, especially in India and Southeast Asia.
The fastest growth rate for the online segment is 6.4%, from 2021 to 2032. Despite being smaller than other channels, this channel is experiencing significant growth because of the growing penetration of internet technology and smartphone. Online shopping has grown because of its availability 24×7, the wide range of options available, and the ability to compare prices.
The global market is extremely fragmented. Small vendors can still operate in the market, even though they don’t have brick-and-mortar stores. Online shopping is a popular way for consumers to order their products. Bean Bag Chairs Market growth will also be fueled by the rise of dedicated online retailers like Bean Bag City and Overstock.com.
Кеу Маrkеt Ѕеgmеntѕ
By Product
- Indoor
- Outdoor
By Distribution Channel
- Offline
- Online
Market Dynamics:
Bean Bag Chairs Market penetration will increase, along with product visibility. Home decor is seeing a growing demand for flexible space. In many countries such as Germany, the U.K., America, and Australia, the kitchen is used to cook and eat, but it also serves other purposes like studying, watching TV, gaming, and relaxing. Rooms in the house have gradually lost their original purpose and are being used for multiple purposes.
Bean bag chairs offer a portable solution to this problem. They can be used for a chair or table, as well as a floor cushion or foot table. This is why they are gaining popularity with consumers. Modern urban homes are compact and space is precious. Therefore, bean bags can be used as an option for traditional furniture such as chairs or tables.
1969 saw the launch of the first beanbag chair. The bean bag chair has become a popular product among adults and children alike, whether they are using it to watch television or play video games. These chairs are used widely for relaxing and hanging out. These chairs can also serve as academic chairs. The school furniture is an integral part of the learning process.
The right seating will allow students to feel confident and be able to learn the information they need. A desk is where children spend the majority of their day. Unsuitable furniture can impact the comfort of children’s sitting and make it difficult to focus.
Bad posture can cause spinal problems and other health problems. Bean bag chairs can be a great way to improve learning environments and they are also a more affordable option than traditional desk chairs.
Regional Analysis
Europe emerged as the dominating region at a market share of 32.8% in 2021, thanks to the rising demand for luxury and branded home decor furniture including beanbag chairs. Bean bag chairs can also be used in smaller homes, making them a more practical alternative to traditional tables and chairs. These chairs are lighter, more cost-effective than chairs, and can be cleaned easily.
Asia Pacific is expected to grow at a 5.8% CAGR over the forecast period. This growth can be attributed to an increase in product penetration as well as rising incomes of double-income households. It is expected that the market will grow due to a significant increase in the number of branded retailers, especially in India, China, and India. In the region, the Bean Bag Chairs market will also grow because of rising construction and increased adoption of modern furniture like bean bag chairs.
Key Regions and Countries covered іn thе rероrt:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
The presence of leading players, including Yogibo LLC., makes the global market highly competitive. Some of the major players in this market include Fatboy, SUMO LOUNGE INTERNATION; LUVU BRANDS, and CordaRoy’s.
The market is expected to grow due to the increasing demand for bean bag chairs. Market leaders are attempting to make the most of their Bean Bag Chairs market by pursuing strategic initiatives such as expansions, mergers, acquisitions, and product, and technological improvements. Lovesac is one of the leading vendors in the market and it raised USD 56 million through a public offering. The goal was to increase retail sales.
Маrkеt Кеу Рlауеrѕ:
- Lovesac
- Yogibo LLC
- Fatboy
- SUMO LOUNGE INTERNATIONAL
- AFA Inc
- LUVU BRANDS
- CordaRoy’s
- Comfy Sacks
- Lumaland Inc
- MUJI
- Other Key Players
For the Bean Bag Chairs Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)
Q: What is the size of the Bean Bag Chairs market in 2021?The Bean Bag Chairs market size is US$ 3,644 million in 2021.
Q: What is the projected CAGR at which the Bean Bag Chairs market is expected to grow at?The Bean Bag Chairs market is expected to grow at a CAGR of 4.10% (2023-2032).
Q: List the segments encompassed in this report on the Bean Bag Chairs market?Market.US has segmented the Bean Bag Chairs market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Product, market has been segmented into Indoor and Outdoor. By Distribution Channel, the market has been further divided into Offline and Online.
Q: List the key industry players of the Bean Bag Chairs market?Lovesac, Yogibo LLC, Fatboy, SUMO LOUNGE INTERNATIONAL, AFA Inc, LUVU BRANDS, CordaRoy's and Other Key Players are the key vendors in the Bean Bag Chairs market
Q: Which region is more appealing for vendors employed in the Bean Bag Chairs market?Europe accounted for the highest revenue share of 32.8%. Therefore, the Bean Bag Chairs Technology industry in Europe is expected to garner significant business opportunities over the forecast period.
Q: Name the key areas of business for Bean Bag Chairs?The US, China, Japan, India, Brazil, Germany, UK, France, Italy, Spain, etc., are key areas of operation for Bean Bag Chairs Market.
Q: Which segment accounts for the greatest market share in the Bean Bag Chairs industry?With respect to the Bean Bag Chairs industry, vendors can expect to leverage greater prospective business opportunities through indoors segment, as this area of interest accounts for the largest market share.
- Lovesac
- Yogibo LLC
- Fatboy
- SUMO LOUNGE INTERNATIONAL
- AFA Inc
- LUVU BRANDS
- CordaRoy's
- Comfy Sacks
- Lumaland Inc
- MUJI
- Other Key Players
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