The China Home Furniture Market size is estimated at USD 106.88 billion in 2024, and is expected to reach USD 148.39 billion by 2029, growing at a CAGR of 6.78% during the forecast period (2024-2029).
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.
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.
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