China Home Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Home Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Home furniture includes beds and mattresses, tables and tabletops, desks, chairs, storage cabinets, sofas, and other furniture that are used to make a house or building a comfortable place to live. China is a big country and has its local furniture industry based in different locations. 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. As the standard of living continues to improve in China people are becoming increasingly willing to invest in home decoration. Innovative raw materials for furniture, smart techniques and new technology are here to meet the industry needs, which further to better serve the furniture markets.

Key Market TrendsIncreasing Disposable Income is Driving the Market

China is the most populated nation across the globe and due to this domestic demand is quite high in China. Rise in per capita disposable income in China, increasing population, and urbanization are some other factors that are enhancing the demand for China's home furniture market. 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.

Kitchen Furniture Segment

Kitchen furniture is mainly used in kitchen storage, cooking, washing, and other purposes. The high percentage of the population living in the urban areas have been the primary consumers for kitchen furniture and this will present the market with huge growth opportunity 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 increase demand for kitchen furniture.

Competitive Landscape

The report covers major international players operating in the China home furniture market. 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 by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Interi Furniture
Chengdu Sunhoo Industrial Co., Ltd.
JL&C Furniture Co., Ltd.
Red Apple Furniture
Kinwai Group
Qumei Furniture
Guangdong Landbond Furniture Group Co., Ltd.
Huari Furniture
IKEA
Zhejiang Huaweimei Group Co., Ltd.

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