China Furniture Market Report and Forecast 2024-2032

China Furniture Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the China furniture market size reached a value of USD 176.97 billion in 2023. Aided by urbanisation, an increase in disposable incomes, and the burgeoning real estate sector, the market is projected to further grow at a CAGR of 6.30% between 2024 and 2032 to reach a value of USD 293.67 billion by 2032.

Furniture in China encompasses a wide range of products designed for residential, office, and commercial use. The sector has evolved significantly, influenced by changing consumer preferences, technological advancements, and government policies. The furniture sector is characterised by its diversity, with products ranging from traditional Chinese designs to contemporary and luxury pieces, catering to varying tastes and budgets.

Rapid urbanisation and the continuous expansion of the real estate sector have significantly fuelled the China furniture market growth. The development of new housing projects and the government's push towards affordable housing have provided a substantial boost to the furniture sector.

With the steady growth of the Chinese economy, there has been a notable increase in disposable incomes among the middle-class population. This has led to a higher spending capacity on home décor and furniture, fuelling market growth. Chinese consumers are increasingly looking for high-quality, durable, and aesthetically pleasing furniture. The growing interest in interior decoration and the desire for customised furniture solutions have led to innovation and diversification in product offerings.

The surge in online shopping, facilitated by digital platforms, has opened new avenues for China furniture market expansion. E-commerce has not only expanded the market reach but also offered consumers a convenient way to explore and purchase a wide array of furniture products. Moreover, the Chinese government's focus on sustainable development and environmental protection has led to the implementation of stringent regulations on furniture production. This has encouraged manufacturers to adopt eco-friendly practices and materials, appealing to environmentally conscious consumers.

As per the China furniture market analysis, with the advent of smart homes, there is a growing demand for smart furniture integrated with technology for enhanced functionality and convenience. Moreover, consumers are increasingly opting for furniture made from sustainable materials and eco-friendly processes, reflecting a growing awareness of environmental issues.

The desire for unique and personalised furniture is on the rise. Manufacturers offering customized solutions are gaining a competitive edge in the China furniture market. Furthermore, collaborations between furniture brands and designers, artists, and other brands are becoming popular for creating unique and limited-edition collections.

Retailers are increasingly adopting AR technology to enhance the shopping experience. AR apps allow consumers to visualise furniture in their own space before making a purchase. This technology bridges the gap between online and physical shopping, enabling better decision-making and reducing the likelihood of returns. As per the China furniture market outlook, minimalism is gaining popularity in China, reflecting a shift towards simple, functional, and uncluttered living spaces. This trend is influenced by the younger generation's preference for a more sustainable and minimalist lifestyle, driving demand for furniture that embodies simplicity, functionality, and elegance.

The second-hand furniture market is witnessing significant growth, driven by environmental concerns and the desire for unique, vintage pieces, which further fuels the China furniture market share. This trend is facilitated by online platforms that make it easier for consumers to buy and sell used furniture, contributing to a circular economy and reducing waste. Lastly, as urban living spaces become smaller, there is a growing need for flexible and multifunctional furniture that maximises space utilisation. Convertible sofas, extendable tables, and modular storage solutions are in high demand, catering to the needs of modern, compact living environments.

Market Segmentation

The market can be divided based on material, product, application, and distribution channel.

Market Breakup by Material

• Metal
• Wood
• Plastic
• Glass
• Others

Market Breakup by Product

• Beds
• Tables and Desks
• Chairs and Stools
• Cabinet and Shelves
• Sofa and Couch
• Others

Market Breakup by Application

• Residential
• Commercial

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Speciality Stores
• Online
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the China furniture market. Some of the major players explored in the report by Expert Market Research are as follows:

• Inter IKEA Systems B.V.
• Interi Furniture Manufacturing Co., Ltd.
• Kinwai Inc.
• Chengdu Shuanghu Industrial Co., Ltd.
• Langfang Huari Furniture Co., Ltd.
• ZheJiang HuaKang Furniture Co., Ltd.
• Zhejiang Huaweimei Intelligent Technology Co., Ltd.
• Honland Group
• HuiFeng Furniture Co., Ltd.
• Suofeiya Home Collection Co. Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.