Bean Bag Chairs Market Overview

The global bean bag chairs market was valued in 2021 at US$ 3,644 million 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.

Global Bean Bag Chairs 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 beanbag chairs market will also be supported by government initiatives such as Homes for All.

Request Covid - 19 Impact

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 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 24x7, 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. 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:

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 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

Market Share & Key Players Analysis:

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 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: