China Upholstered Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 42.41 Billion |
| Market Size (2029) | USD 59.39 Billion |
| CAGR (2024 - 2029) | 6.97 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Upholstered Furniture Market Analysis
The China Upholstered Furniture Market size is estimated at USD 42.41 billion in 2024, and is expected to reach USD 59.39 billion by 2029, growing at a CAGR of 6.97% during the forecast period (2024-2029).
China is currently the largest producer and exporter of upholstered furniture in the world. China is responsible for 40% of the global output value of upholstered furniture. Upholstered furniture has become increasingly popular in mainland China due to its comfort, stylish design, rich colors, and diverse styles. Over the past decade, China has experienced significant economic growth, and the furniture market has also seen a rapid increase in demand. In the current year, the revenue of furniture manufacturers increased by 1.5%, while their profits rose by 10.8% year on year.
Rapid urbanization is a major driving factor for the growth of the upholstered furniture market in China. According to the National Bureau of Statistics, China's urbanization level has surpassed 60%, making it the highest in the world. The increasing number of people living in urban areas has led to a rise in upholstered furniture sales. Furthermore, China's export of upholstered furniture has also increased. The United States is the largest importer of Chinese upholstery furniture, accounting for approximately one-third of all exports. This is expected to boost the growth of this market during the forecasted period.
China Upholstered Furniture Market Trends
E-commerce Sales is Escalating in China Upholstered Furniture Market
China's e-commerce expansion is the highest in the world and is expected to reach 44% and beyond. One positive trend for the upholstered furniture market in China is the significant increase in e-commerce sales. Over 50% of worldwide retail sales on the Internet are from China. Many small and medium-sized manufacturers of upholstery furniture use the O2O e-commerce model, which connects online sales and marketing with offline business operations and consumption. Customers can order furniture through the website or visit the store to place an order. Ikea is also an example of a company that has started selling on the Chinese e-commerce platform Tmall, marking the first time in its 77-year history that the retailer has sold through a third party.
Growth in the Real Estate Industry
China has become a major player in the market for upholstered furniture due to its strong manufacturing capabilities and highly skilled labor force. The country's growing middle class, rising disposable income levels, and evolving consumer preferences have made it an attractive market for stylish and comfortable furniture. Moreover, the expansion of the real estate market, urbanization, and infrastructure investments have created ample opportunities for market growth. Since the launch of the government's "ensuring timely delivery of presale housing" initiative in July 2022, more than 1.65 million presale homes have been delivered. This has had a significant impact on the market, boosting confidence in the real estate sector and driving demand for home furnishings, including upholstered furniture.
The rapid urbanization and changing lifestyles in China have created opportunities for the real estate industry to boom. As more people move into towns and cities, the demand for homes is expected to increase, leading to a corresponding increase in demand for home furnishings, including upholstered furniture. Additionally, the demand for office and commercial spaces has contributed to the market's significant growth. Overall, China's upholstered furniture market is poised for continued growth due to various factors such as the expanding middle class, rising disposable incomes, increasing urbanization, and changing consumer preferences. The market presents significant opportunities for businesses looking to enter or expand their presence in this sector.
China Upholstered Furniture Industry Overview
The market is highly fragmented with small and medium players which serve their region. Players like QuanU Furniture, Red Apple Furniture, IKEA China, Kinwai Group, and Oppein Home dominate the organized market.
China Upholstered Furniture Market Leaders
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QuanU Furniture
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Red Apple Furniture
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IKEA China
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Kinwai Group
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Oppein Home
*Disclaimer: Major Players sorted in no particular order
China Upholstered Furniture Market News
- September 2023: IKEA China has announced its “Growth+” strategy, committing to an investment of 6.3 billion RMB (USD 863.98 million) over the next three years in professional home solutions, personalized services, and an omnichannel approach.
- July 2023: A benchmark project has been completed by Oppein, the largest cabinet manufacturer in Asia, and Ironside, a contemporary construction specialist in Australia. The modern and trendy residential building proves to be a milestone in the collaboration between the two companies.
China Upholstered Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand for Home Furnishing
4.2.2 Growing Awareness of Interior Design Trends
4.3 Market Restraints
4.3.1 Fluctuating Prices of Raw Materials
4.4 Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Chair
5.1.2 Sofa
5.1.3 Bed
5.1.4 Other Types
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.3 Distribution Channels
5.3.1 Supermarkets and Hypermarkets
5.3.2 Specialty stores
5.3.3 E-commerce
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Competitors Market Share
6.2 Competitors Profile
6.2.1 QuanU Furniture
6.2.2 Royal Furniture
6.2.3 Oppein Home
6.2.4 Red Apple Furniture
6.2.5 M&Z Furniture
6.2.6 IKEA China
6.2.7 Kinwai Group
6.2.8 Interi Furniture
6.2.9 Chenghdu Sunhoo Industry Co
6.2.10 Zhejiang Huafeng Furniture
6.2.11 Uangdong Landbond Furniture Group Co., Ltd
6.2.12 Uangzhou Holike Creative Home Co., Ltd
6.2.13 Zhejiang Huaweimei Group Co., Ltd.*
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
China Upholstered Furniture Industry Segmentation
Upholstered furniture means any article of furniture wholly or partially filled with padding, springs, webbing, fabrics, or any other leather materials that are mostly used for sitting, resting, or reclining purposes. This report on China's upholstered furniture market provides a comprehensive evaluation of the market with market segmentation. The assessment of the economy, market overview, market size estimation, market dynamics, insights, and key trends observed in the market are analyzed. Moreover, the competitive profile of major competitors is also included in the report. China's upholstered furniture market is segmented by type (chair, sofa, beds, and other types), by application (commercial and residential), and by distribution channel (supermarkets and hypermarkets, specialty stores, e-commerce, and other distribution channels). The report offers market sizes and forecasts for all the above segments in value (USD).
| Type | |
| Chair | |
| Sofa | |
| Bed | |
| Other Types |
| Application | |
| Residential | |
| Commercial |
| Distribution Channels | |
| Supermarkets and Hypermarkets | |
| Specialty stores | |
| E-commerce | |
| Other Distribution Channels |
China Upholstered Furniture Market Research FAQs
How big is the China Upholstered Furniture Market?
The China Upholstered Furniture Market size is expected to reach USD 42.41 billion in 2024 and grow at a CAGR of 6.97% to reach USD 59.39 billion by 2029.
What is the current China Upholstered Furniture Market size?
In 2024, the China Upholstered Furniture Market size is expected to reach USD 42.41 billion.
Who are the key players in China Upholstered Furniture Market?
QuanU Furniture, Red Apple Furniture, IKEA China, Kinwai Group and Oppein Home are the major companies operating in the China Upholstered Furniture Market.
What years does this China Upholstered Furniture Market cover, and what was the market size in 2023?
In 2023, the China Upholstered Furniture Market size was estimated at USD 39.45 billion. The report covers the China Upholstered Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Upholstered Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Upholstered Furniture Industry Report
Statistics for the 2024 China Upholstered Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Upholstered Furniture analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
