New York , United States – In 2020, the canopy bed market value figured was more than $4.2. billion. The global canopy market is forecast to grow at a CAGR of more than 2.3% during the forecast period from 2021-2027.

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A canopy serves as a shelter for events, gardens, and also for garages. The product can additionally come from various materials, including fabrics, metals, wood, and glass. The canopy bed has curtains hung above it that resemble a roof. A canopy provides warmth, comfort, and privacy, as well as blocking light and sight. Also, the canopy bed plays an essential role in enhancing the ambiance at home. The canopy bed market consists of two types of beds: wooden canopy beds and metal canopy beds. It is easily accessible through various sales channels such as an online store, specialty retailer, and supermarket, thus maximizing revenue generation.

The global canopy bed market is forecast to grow due to the continuing rise in spending power on home decor and renovation. A report from the National Association of Home Builders (NAHB) revealed that in 2018, the average expenditure per home improvement in California rose by over 20% over 2017.

Travel and tourism are also contributing to the growth of this market. There will be more demand for canopies in hotels, beaches, cafes, and other outdoor structures as people visit these facilities more often.

Impact Analysis of the Covid-19 on Global Canopy Market

A positive effect has emerged on the market after the outbreak of the Covid-19 pandemic. Consumers across the globe are now actively getting involved in home design, remodeling, and renovation during the lockdown period, leading to an increase in bedding sales. Additionally, consumers are replacing their bedding products with new and attractive furniture, including canopy beds. Globally, the global health crisis has led to increased demand for canopy beds to use at home, so market growth has impacted positively.

In response to steadily growing consumer demand, especially in the hospitality industry, the canopy bed market rapidly returned to normal after Covid-19.

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Regional Analysis of the Global Canopy Bed Market

During 2020, North America led the market due to the investments made in hotels, guesthouses, and restaurants in the United States that are driving demand for canopy beds.

Key Players in the Global Canopy Bed Market

The leading prominent players profiled in the global canopy market include:

The Four Poster Bed Company

Benicia Foundry & Iron Works

Segment Analysis of the Global Canopy Market

The global canopy market segmentation consists of Distribution Channel, Product Type, End-User, and Region.

Segmentation based on Distribution Channel

Segmentation based on Product Type

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Middle East & Africa (MEA)

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