Market Size of China Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Furniture Market Analysis
The outlook for China furniture industry is positive with the industry expected to grow at a CAGR of 7% in the forecast period. The Chinese furniture industry is one of the biggest furniture industries in the world. It is also one of the leading producers, consumer, and exporter of furniture. The production side of the Chinese furniture industry accounts for nearly 40% of the world's furniture production.
China has a very strong demand for furniture due to its high population. The huge population base and rising disposable income of consumers are bolstering the development of the Chinese furniture industry as customers are willing to spend more on floor coverings and furniture. Urbanization, increasing real estate development, strong growth in GDP, economic stability in the country are some of the other major factors attributing to the growth of the furniture industry in China.
China is also one of the biggest exporters of wooden furniture. According to data from the General Administration of Customs of China, the export value of Chinese furniture and parts in 2018 was USD 53.69 billion. Some of the major countries to which China exports furniture include the European Union, the United States, Hong Kong, Japan, and Vietnam. The country also imports furniture from countries like Italy and Germany.
China has a flourishing furniture industry due to the availability of natural resources. Some of the prominent areas in China where the local furniture industry is concentrated include Beijing, Pearl River Delta, Shanghai, Shandong, Fujian, and Zhejiang. The country is also witnessing a new trend of furniture malls being opened up in China due to the rising consumer demands.
China Furniture Industry Segmentation
A complete background analysis of China's furniture industry, which includes a qualitative and quantitative assessment of the market, emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. The report also covers the competitive landscape of the China furniture industry which provides details about the key players present in the market.
| By Material | |
| Wood | |
| Metal | |
| Plastic and Other Materials |
| By Application | |
| Home Furniture | |
| Office Furniture | |
| Hospitality Furniture | |
| Other Furniture |
| By Distribution Channel | |
| Supermarkets & Hypermarkets | |
| Specialty Stores | |
| Online | |
| Others |
China Furniture Market Size Summary
The Chinese furniture industry is a significant player on the global stage, recognized as one of the largest in the world. It stands out as a leading producer, consumer, and exporter of furniture, contributing substantially to global production. The industry's growth is driven by several factors, including a large population with increasing disposable incomes, rapid urbanization, and robust economic stability. These elements have led to a heightened demand for furniture, particularly in urban areas where real estate development is booming. The availability of natural resources and the concentration of furniture production in key regions such as Beijing, Shanghai, and the Pearl River Delta further bolster the industry's expansion. Additionally, the rise of furniture malls and the burgeoning e-commerce sector are transforming the retail landscape, making online furniture sales a prominent trend.
The e-commerce boom in China has significantly impacted the furniture market, with online sales channels becoming increasingly popular due to their convenience and efficiency. Major e-commerce platforms like Alibaba and JD.com are pivotal in this shift, offering consumers easy access to a wide range of furniture products. This trend is expected to continue, driven by the growing preference for online shopping and the expansion of digital sales channels. The residential furniture segment, particularly living and dining room furnishings, dominates the market, reflecting the increasing willingness of consumers to invest in home decor. The competitive landscape is marked by both local and international players, with companies like IKEA making significant inroads. The market's attractiveness is drawing new entrants and foreign companies, further intensifying competition and innovation in the sector.
China Furniture Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Insights on government and trade regulations on furniture products
-
1.2 Insights on China's import and exports of furniture products
-
1.3 Insights on technological innovations in the furniture industry
-
1.4 Insights on consumer preferences for furniture products in the country
-
-
2. MARKET SEGMENTATION
-
2.1 By Material
-
2.1.1 Wood
-
2.1.2 Metal
-
2.1.3 Plastic and Other Materials
-
-
2.2 By Application
-
2.2.1 Home Furniture
-
2.2.2 Office Furniture
-
2.2.3 Hospitality Furniture
-
2.2.4 Other Furniture
-
-
2.3 By Distribution Channel
-
2.3.1 Supermarkets & Hypermarkets
-
2.3.2 Specialty Stores
-
2.3.3 Online
-
2.3.4 Others
-
-
China Furniture Market Size FAQs
What is the current China Furniture Market size?
The China Furniture Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in China Furniture Market?
Interi Furniture , Qumei Furniture , IKEA China, Kinwai Group, China and Chengdu Sunhoo Industry Co., Ltd are the major companies operating in the China Furniture Market.
