China Home Furniture Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 100.09 Billion |
| Market Size (2028) | USD 138.97 Billion |
| CAGR (2023 - 2028) | 6.78 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Home Furniture Market Analysis
The China Home Furniture Market size is expected to grow from USD 100.09 billion in 2023 to USD 138.97 billion by 2028, at a CAGR of 6.78% during the forecast period (2023-2028).
China is the largest exporter of furniture around the world. Although China may have a reputation for producing substandard products, it does produce excellent quality furniture. Due to the Amazingly high population, china's furniture market is also the largest job providing sector as it involves everything from cutting wood to delivering it, the whole process involves a lot of labor.
China is a big country and has its local furniture industry based in different locations. The COVID-19 pandemic has had a major impact on home furniture markets and has also seriously affected the sales of home furniture
Over the past few years, multi-purpose and smart pieces of furniture have gained popularity to meet the rising demand in the home furniture market, to meet the criteria of aesthetics and functionality. Innovative raw materials for furniture, smart techniques, and new technology are in demand to fulfill the need for luxurious and compact furniture.
After the Covid-19 pandemic, China leads online furniture sales globally. The rapid development of e-commerce in China has increased the sales channels for furniture. The changing preference of consumers towards purchase mode has led to an increase of online distribution channels from 54% in 2018 to around 58% in 2022.
China Home Furniture Market Trends
Increase in Disposable Income is Driving the Market
- China is the most populated nation globally, and due to this, domestic demand for furniture is quite high in China. The rise in per capita disposable income in China, increasing population, and urbanization are factors enhancing the demand for China's home furniture market.
- Urban wage earners and peasant families who have settled in towns and cities are the major furniture buyers. The urbanization rate of permanent residents in China reached 63.9% in 2020, leading to an increase in demand for furniture.
- Increasing disposable income has influenced the individual to spend more on a comfortable lifestyle; this is expected to provide growth opportunities for the China home furniture market. Rising consumer spending and disposable income levels are expected to boost the consumption of home furniture products.
Living Room Furniture Segment is Dominating Market
- The living room segment is immediately followed by kitchen and dining room equipment. This trend is especially noticeable because of the high population and increases in the southern and eastern parts of the country with the multiplication of high-rise buildings.
- The high percentage of the population living in urban areas has been the primary consumer of living room furniture, and this will present the market with huge growth opportunities and potential in the near future. The number of residential property transactions is also expected to increase over the coming period, fuelled by rising real incomes and low unemployment levels, allowing more people to buy homes and increasing the demand for furniture.
China Home Furniture Industry Overview
The market is fragmented in nature and thus moderately competitive. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. The report covers major international players operating in the China home furniture market.
China Home Furniture Market Leaders
Interi Furniture
Red Apple Furniture
Kinwai Group
Qumei Furniture
Kuka Home
*Disclaimer: Major Players sorted in no particular order
China Home Furniture Market News
- November 2022: Louis Vuitton opened a furniture and home goods store in Shangai. The French luxury brand hopes to attract wealthy Chinese customers by expanding its lifestyle offerings, making it a first globally.
- November 2022: Nitori Holdings Co., a home furnishings retailer, opened two stores in Beijing. The stores in Beijing were the 58th and 59th for the company in China. By the end of 2023, the company hopes to have 100 stores.
China Home 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 DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Living Room and Dining Room Furniture
5.1.2 Bedroom Furniture
5.1.3 Kitchen Furniture
5.1.4 Lamps and Lighting Furniture
5.1.5 Plastic and Other Furniture
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialty Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Competion Overview
6.2 Company Profiles
6.2.1 Interi Furniture
6.2.2 Chengdu Sunhoo Industrial Co., Ltd.
6.2.3 JL&C Furniture Co., Ltd.
6.2.4 Red Apple Furniture
6.2.5 Kinwai Group
6.2.6 Qumei Furniture
6.2.7 Guangdong Landbond Furniture Group Co., Ltd.
6.2.8 Huari Furniture
6.2.9 IKEA
6.2.10 Zhejiang Huaweimei Group Co., Ltd.*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
China Home Furniture Industry Segmentation
Home furniture refers to the category of products, which occupy the physical ambiance of a house.
The China home furniture market is segmented by product (living room and dining room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, and plastic and other furniture), by distribution channel (supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels).
The report offers market size and forecasts for the China home furniture market in value (USD billion) for all the above segments.
| By Product | |
| Living Room and Dining Room Furniture | |
| Bedroom Furniture | |
| Kitchen Furniture | |
| Lamps and Lighting Furniture | |
| Plastic and Other Furniture |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
China Home Furniture Market Research FAQs
How big is the China Home Furniture Market?
The China Home Furniture Market size is expected to reach USD 100.09 billion in 2023 and grow at a CAGR of 6.78% to reach USD 138.97 billion by 2028.
What is the current China Home Furniture Market size?
In 2023, the China Home Furniture Market size is expected to reach USD 100.09 billion.
Who are the key players in China Home Furniture Market?
Interi Furniture, Red Apple Furniture, Kinwai Group, Qumei Furniture and Kuka Home are the major companies operating in the China Home Furniture Market.
China Home Furniture Industry Report
Statistics for the 2023 China Home Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Home Furniture analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
