Market Size of Taiwan Home Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Taiwan Home Furniture Market Analysis
The Taiwan Home Furniture Market is expected to register a CAGR of greater than 4% during the forecast period.
Taiwan's home furniture market is mature and stable, with major advantages developed from traditional industries. Taiwan is one of the world's largest exporters, and some majorly exported furniture items include metal furniture, mainly due to the convenience of upstream metal materials. The main countries to Taiwan exports furniture products to include the United States, Japan, and Germany. It is estimated that roughly one-third of China, Vietnam, and the Philippines' furniture exports also result from Taiwan.
Due to the rising disposable income, consumers are willing to pay a premium to purchase personalized furniture in the country, and home furniture demand is growing. It is expected to gain further momentum in upcoming years. There is also a rising trend of multifunctional furniture in Taiwandueg for environmental protection and the development of green building materials.
Taiwanese furniture makers are utilizing all kinds of natural-looking products made of wood, bamboo, and rattan. They also use metal, glass, and other artificial materials to meet customers' demands. Furthermore, some of the prominent design trends of the Taiwanese furniture industry include the inheritance of classic simplicity and elegance, cross-border trends, new fashion, light luxury styles, and blending of the essence of Eastern and Western aesthetics elements.
The impact of the COVID-19 crisis on consumer behavior and manufacturing trends heightened the importance of digitalization and automation for the furniture industry. Online-savvy consumers seeking personalized shopping experiences and competitive prices pushed furniture manufacturers to innovate their existing workflows.
Taiwan Home Furniture Industry Segmentation
Furniture refers to movable objects intended to support various human activities such as seating, eating, storing items, eating and working with an item, and sleeping. Furniture is also used to hold objects at a convenient height for work or to store things.
Taiwan's home furniture market is segmented by material, type, and distribution channel. By material, the market is sub-segmented into wood, metal, plastic, and other furniture. By type, the market is sub-segmented into kitchen furniture, living-room and dining-room furniture, Bedroom furniture, and other furniture. By distribution channel, the market is sub-segmented into supermarkets & hypermarkets, specialty stores, online, and others. The report offers market size and forecasts for the Taiwan home furniture market in value (USD) for all the above segments.
| By Material | |
| Wood | |
| Metal | |
| Other Furniture |
| By Type | |
| Living Room Furniture | |
| Dining Room Furniture | |
| Bedroom Furniture | |
| Kitchen Furniture | |
| Other Furniture |
| By Distribution Channel | |
| Home Centers | |
| Flagship Stores | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
Taiwan Home Furniture Market Size Summary
The Taiwan home furniture market is characterized by its maturity and stability, benefiting from the country's robust traditional industries. As a significant player in the global furniture export scene, Taiwan specializes in metal furniture, leveraging its access to upstream metal materials. The primary export destinations for Taiwanese furniture include the United States, Japan, and Germany, with a notable portion of exports also reaching China, Vietnam, and the Philippines. The domestic market is experiencing growth driven by increasing disposable incomes, which encourage consumers to invest in personalized and multifunctional furniture. This trend is further supported by the rising demand for environmentally friendly and green building materials. Taiwanese manufacturers are adept at using a variety of materials, including wood, bamboo, rattan, metal, and glass, to cater to diverse consumer preferences, with design trends reflecting a blend of Eastern and Western aesthetics.
The Taiwanese furniture industry is competitive and fragmented, with local players actively establishing their brands and collaborating with international manufacturers to innovate and expand their product offerings. The market is also witnessing a surge in residential construction, leading to increased demand for home furniture as new housing projects and renovations drive consumer spending. Wooden furniture remains a dominant category, with a focus on combining wood with metal and composite panels. Despite relying on imported wood for domestic use, Taiwan continues to prioritize its export capabilities. The industry's evolution is further influenced by the COVID-19 pandemic, which has accelerated digitalization and automation, prompting manufacturers to enhance their online presence and offer personalized shopping experiences.
Taiwan Home Furniture Market Size - Table of Contents
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1. MARKET DYNAMICS & INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights into Technological Advancements in the Industry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Material
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2.1.1 Wood
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2.1.2 Metal
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2.1.3 Other Furniture
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2.2 By Type
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2.2.1 Living Room Furniture
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2.2.2 Dining Room Furniture
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2.2.3 Bedroom Furniture
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2.2.4 Kitchen Furniture
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2.2.5 Other Furniture
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2.3 By Distribution Channel
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2.3.1 Home Centers
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2.3.2 Flagship Stores
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2.3.3 Specialty Stores
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2.3.4 Online
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2.3.5 Other Distribution Channels
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Taiwan Home Furniture Market Size FAQs
What is the current Taiwan Home Furniture Market size?
The Taiwan Home Furniture Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Taiwan Home Furniture Market?
CHENG SHING WOODEN INDUSTRIAL CO., LTD, CHYUAN CHERN FURNITURE CO., LTD, Yung Shing Furniture Company, Meicha and Royce are the major companies operating in the Taiwan Home Furniture Market.
