NEW YORK, July 26, 2023 /PRNewswire/ -- The China furniture market report has been added to Technavio's offering. The China furniture market size is estimated to grow by USD 57.74 billion from 2022 to 2027, growing at a CAGR of 11.19%. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View the Sample report
Furniture Market In China - Vendor Landscape
The furniture market in China is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Furniture Market In China - Market Dynamics
Major Drivers & Challenges-
The rising urbanization and middle-class population drive the growth of the furniture market in China during the forecast period. Due to rapid urbanization, there has been a huge migration of people into cities which led to an increased demand for housing as well as furniture. As individuals and families migrate into urban areas, they need different furnishings for their new homes, such as beds, sofas, dining sets, and storage solutions. Furthermore, the rising middle-class population has significantly contributed to the market growth in China. There has been an increasing investment by middle-class people in higher-quality and aesthetically pleasing furniture sets due to rising disposable income and changes in lifestyle. Additionally, middle-class consumers are seeking products that match their social status and personal taste, fuelling the demand for stylish and innovative furniture designs. Hence, such factors are expected to drive market growth during the forecast period.
Fluctuation in prices of raw materials used in furniture production is a significant challenge hindering the growth of the furniture market in China. The fluctuation of prices in raw materials adversely impacts the profit margin of manufacturers and retailers. Some of the key raw materials which are used for the manufacturing of furniture include steel, plastics, textiles, wood particleboard, and cartons. Steel, wood or wood-related products, and aluminum are the most vital raw materials used in the production of furniture. Thus, due to the fluctuations of prices in raw materials, there is a decreasing gap between production cost increment and vendors' ability to increase the prices of their products in the market which are adversely impacting the profit margin of market players. Hence, such factors are expected to hinder market growth during the forecast period.
Key Trends-
The rising focus on using sustainable and eco-friendly materials is a primary trend in the China furniture market during the forecast period. There is a growing awareness among consumers in China regarding the environmental hazards of their purchasing decisions. As a result, it has fuelled the demand for sustainable and eco-friendly materials. Hence, several manufacturers and vendors in China are offering furniture options with an emphasis on environmental sustainability. Furthermore, the Chinese government has introduced policies to promote the adoption of sustainable production processes and materials. Hence, the rising focus on sustainable and eco-friendly materials is expected to drive the furniture market growth in China during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report
Company Profiles
The furniture market in China report includes information on the product launches, sustainability, and prospects of leading vendors including Decor House, DIOUS FURNITURE GROUP, Dongguan Webber Ltd., Farrington Interiors, Foshan Furniture, Foshan Juou Furniture Co. Ltd., GUANG DONG ZHIDA CO. LTD., Guangzhou Xinju Co. Ltd., Huizhou Xinjiayi Co. Ltd., Interior Furniture Manufacturing Co. Ltd., Jason Furniture HangZhou Co. Ltd., JEB Holding Company Ltd., Landbond, Louver Furnishing, Mingzhu Furniture Co. Ltd., Quanyou, Qumei Home Furnishings Group Co. Ltd., Shenzhen Zuoyou Home Sales Co. Ltd., Shuangye Furniture, and Suofeiya Home Collection Co. Ltd.
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
Furniture Market In China - Market Segmentation
The furniture market in China is analyzed in terms of type (indoor and outdoor) and distribution channel (offline and online).
- The market share growth by the indoor segment is significant during the forecast period. The indoor segment in China comprises a wide variety of furniture types designed for serving a specific requirement and contributing to the overall aesthetics and functionality of interior spaces. One of the main categories in this indoor segment is living room furniture. Living room furniture comprises sofas, armchairs, coffee tables, entertainment units, TV stands, bookshelves, and additional furniture pieces present in living rooms. On the other hand, the bedroom furniture category includes beds, mattresses, bedside tables, dressers, wardrobes, vanity sets, and other furniture pieces specially designed for bedrooms. Hence, the increasing demand for the indoor segment is expected to drive market growth during the forecast period.
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Furniture Market Scope In China |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.19% |
Market growth 2023-2027 |
USD 57.74 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
10.25 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Decor House, DIOUS FURNITURE GROUP, Dongguan Webber Ltd., Farrington Interiors, Foshan Furniture, Foshan Juou Furniture Co. Ltd., GUANG DONG ZHIDA CO. LTD., Guangzhou Xinju Co. Ltd., Huizhou Xinjiayi Co. Ltd., Interior Furniture Manufacturing Co. Ltd., Jason Furniture Hangzhou Co. Ltd., JEB Holding Company Ltd., Landbond, Louver Furnishing, Mingzhu Furniture Co. Ltd., Quanyou, Qumei Home Furnishings Group Co. Ltd., Shenzhen Zuoyou Home Sales Co. Ltd., Shuangye Furniture, and Suofeiya Home Collection Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 10: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 12: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 13: Chart on China: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on China: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Furniture market in China 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on furniture market in China 2017 - 2021 ($ billion)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
- 4.3 Distribution Channel Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 25: Chart on Type - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 27: Chart on Comparison by Type
- Exhibit 28: Data Table on Comparison by Type
- 6.3 Indoor - Market size and forecast 2022-2027
- Exhibit 29: Chart on Indoor - Market size and forecast 2022-2027 ($ billion)
- Exhibit 30: Data Table on Indoor - Market size and forecast 2022-2027 ($ billion)
- Exhibit 31: Chart on Indoor - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Indoor - Year-over-year growth 2022-2027 (%)
- 6.4 Outdoor - Market size and forecast 2022-2027
- Exhibit 33: Chart on Outdoor - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Outdoor - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Outdoor - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Outdoor - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 37: Market opportunity by Type ($ billion)
- Exhibit 38: Data Table on Market opportunity by Type ($ billion)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 39: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 40: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 41: Chart on Comparison by Distribution Channel
- Exhibit 42: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 43: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 45: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 46: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 47: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 51: Market opportunity by Distribution Channel ($ billion)
- Exhibit 52: Data Table on Market opportunity by Distribution Channel ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 53: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 54: Impact of drivers and challenges in 2022 and 2027
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 55: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 56: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 57: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 58: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 59: Matrix on vendor position and classification
- 11.3 Decor House
- Exhibit 60: Decor House - Overview
- Exhibit 61: Decor House - Product / Service
- Exhibit 62: Decor House - Key offerings
- 11.4 Dongguan Webber Ltd.
- Exhibit 63: Dongguan Webber Ltd. - Overview
- Exhibit 64: Dongguan Webber Ltd. - Product / Service
- Exhibit 65: Dongguan Webber Ltd. - Key offerings
- 11.5 Farrington Interiors
- Exhibit 66: Farrington Interiors - Overview
- Exhibit 67: Farrington Interiors - Product / Service
- Exhibit 68: Farrington Interiors - Key offerings
- 11.6 Foshan Furniture
- Exhibit 69: Foshan Furniture - Overview
- Exhibit 70: Foshan Furniture - Product / Service
- Exhibit 71: Foshan Furniture - Key offerings
- 11.7 Foshan Juou Furniture Co. Ltd.
- Exhibit 72: Foshan Juou Furniture Co. Ltd. - Overview
- Exhibit 73: Foshan Juou Furniture Co. Ltd. - Product / Service
- Exhibit 74: Foshan Juou Furniture Co. Ltd. - Key offerings
- 11.8 GUANG DONG ZHIDA CO. LTD.
- Exhibit 75: GUANG DONG ZHIDA CO. LTD. - Overview
- Exhibit 76: GUANG DONG ZHIDA CO. LTD. - Product / Service
- Exhibit 77: GUANG DONG ZHIDA CO. LTD. - Key offerings
- 11.9 Huizhou Xinjiayi Co. Ltd.
- Exhibit 78: Huizhou Xinjiayi Co. Ltd. - Overview
- Exhibit 79: Huizhou Xinjiayi Co. Ltd. - Product / Service
- Exhibit 80: Huizhou Xinjiayi Co. Ltd. - Key offerings
- 11.10 Jason Furniture HangZhou Co. Ltd.
- Exhibit 81: Jason Furniture HangZhou Co. Ltd. - Overview
- Exhibit 82: Jason Furniture HangZhou Co. Ltd. - Product / Service
- Exhibit 83: Jason Furniture HangZhou Co. Ltd. - Key offerings
- 11.11 JEB Holding Company Ltd.
- Exhibit 84: JEB Holding Company Ltd. - Overview
- Exhibit 85: JEB Holding Company Ltd. - Product / Service
- Exhibit 86: JEB Holding Company Ltd. - Key offerings
- 11.12 Landbond
- Exhibit 87: Landbond - Overview
- Exhibit 88: Landbond - Product / Service
- Exhibit 89: Landbond - Key offerings
- 11.13 Louver Furnishing
- Exhibit 90: Louver Furnishing - Overview
- Exhibit 91: Louver Furnishing - Product / Service
- Exhibit 92: Louver Furnishing - Key offerings
- 11.14 Mingzhu Furniture Co. Ltd.
- Exhibit 93: Mingzhu Furniture Co. Ltd. - Overview
- Exhibit 94: Mingzhu Furniture Co. Ltd. - Product / Service
- Exhibit 95: Mingzhu Furniture Co. Ltd. - Key offerings
- 11.15 Quanyou
- Exhibit 96: Quanyou - Overview
- Exhibit 97: Quanyou - Product / Service
- Exhibit 98: Quanyou - Key offerings
- 11.16 Qumei Home Furnishings Group Co. Ltd.
- Exhibit 99: Qumei Home Furnishings Group Co. Ltd. - Overview
- Exhibit 100: Qumei Home Furnishings Group Co. Ltd. - Product / Service
- Exhibit 101: Qumei Home Furnishings Group Co. Ltd. - Key offerings
- 11.17 Suofeiya Home Collection Co. Ltd.
- Exhibit 102: Suofeiya Home Collection Co. Ltd. - Overview
- Exhibit 103: Suofeiya Home Collection Co. Ltd. - Product / Service
- Exhibit 104: Suofeiya Home Collection Co. Ltd. - Key offerings
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 105: Inclusions checklist
- Exhibit 106: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 107: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 108: Research methodology
- Exhibit 109: Validation techniques employed for market sizing
- Exhibit 110: Information sources
- 12.5 List of abbreviations
- Exhibit 111: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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