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

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

The home furniture market in Japan is expected to grow at a strong rate in the forecast period. Rising disposable income, an increasing number of households and commercial spaces and rising urbanization are some of the major factors driving the demand for furniture products in the country. Japan is witnessing increased construction activity which has led to the expansion of residential real estate with a significant increase in the number of households in the country. This is boosting the demand for furniture products such as living room and bedroom furniture.

Key Market TrendsExpansion of Single Person Homes

Single-person households are the fastest-growing household group in the country and will eventually become the largest such group in Japan. Singles need less space and can, therefore, save on rent and house-building costs. Due to limited space, furniture needs to be both pleasing and practical. Storage cabinets are popular among singles in small homes, and many other portable furniture may witness increased demand. There is potential for segments of the Japanese furniture market to grow, especially for competitively priced items designed for singles in small spaces, such as drawers, cabinets, fold-away dining tables and dining chairs which is expected to increase the demand for furniture products in the country.

Living Room and Dining Room Furniture Segment

Japan is currently witnessing a high demand for home furniture which includes the living room and dining room furniture, bedroom furniture and kitchen furniture. The country is witnessing expanded construction activity with new housing units being built across the country and an increase in the per capita disposable income on consumers which is increasing the demand for living room and dining room furniture. The rise in the number of household units and population migration are also contributing to this growth.

Competitive Landscape

The report covers major international players operating in the Japan 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
 
Karimoku
SanKou Group
Cassina Ixc Ltd.
IKEA
Kashiwa
Nitori Furniture
Muji
Shimachu
Sunmore Co., Ltd.
Oliver Co., Ltd.

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