China Furniture Market Outlook to 2020 – Surge in Demand for Children’s Furniture and Rise in Trend of Online Furniture Sales to Shape Future

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China Furniture Market Outlook to 2020 – Surge in Demand for Children’s Furniture and Rise in Trend of Online Furniture Sales to Shape Future” provides a comprehensive analysis of Furniture market in China. The report covers various aspects such as market size of Furniture market, market segmentation by Residential & Non-Residential Sector, organized and unorganized market, Online furniture, Segmentation by product categories, customer profile, Competitive landscape & market share of major players. The future analysis of furniture market and by segments has also been discussed in each of the sub segment. The report is useful for Furniture exporter, retailer, Manufacturer and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

China Furniture Market
The furniture industry in China has undergone a dynamic change from traditional operations to technology driven industry over the last few years 2010-2015. The growth in the furniture industry in past decades was phenomenal and was quite evident through consistent surge in exports. In 2010, the China furniture market was valued at USD 40.9 billion which has increased to USD ~ billion in 2015 growing at a CAGR of ~% during the period. The furniture industry in China has been immensely driven by its ability to provide best quality furniture products at best affordable prices without compromising on the quality standards and low cost skilled workforce. With the substantial growth in the real estate industry, technology and increasing growth rate in tourism from ~% in 2011 to ~% in 2015 had led to inauguration of many new public and private construction projects, automation in the manufacturing process and increase in the number of hotels, bars & restaurants in country.

Additionally, China was recognized as the largest furniture exporter in the world and exported ~% of its production to other nations in 2015. Total furniture export value increased from USD ~ billion in 2010 to USD ~ billion in 2015 at a CAGR of ~% during the period. It has also been forecasted that the furniture market of China will increase at a CAGR of ~% during 2016-2020 to be valued at USD ~ million.

Residential Furniture Market
In Furniture industry, residential furniture market has dominated the domestic furniture industry with a share of ~% in 2015. The major reason attributed to the increase is availability of large variety of products in residential furniture product line than the number of products in non-residential furniture product line. Residential furniture products are offered at a broader price range which contributes to larger demand and results in higher percentage share to the revenue of domestic furniture market in China.

The residential furniture market had increased from USD ~ billion in 2010 to USD ~ billion in 2015, growing at a CAGR of ~% during the period. In China, an increasing number of consumers especially mid to high end consumer groups have been witnessed to embrace for new living concepts. These consumer groups have showcased their preferences towards environment-friendly furniture, such as odor and formaldehyde-free products, whose price tends to be higher than other furniture products. This has been the major reasons for elevation in Residential furniture demand in China. In residential furniture, Bed room furniture had dominated the market with share of ~% in overall residential furniture market followed by living room, dining room & kitchen furniture in 2015. Bed has contributed largely in terms of sales revenue in product category list of residential furniture segment. Other important categories are Sofa, Sofa Sets, Dining tables, Central Chairs and others. In residential sector, integrated furniture contributed to ~ % share in 2015 in terms of sales revenue. Wooden furniture and Metal furniture contributed ~ % and ¬~ % share respectively. The major contributor in revenues for residential furniture is southern province followed by eastern province, western province & northern province of China. It has been expected that the residential furniture market of China will increase at a CAGR of ~% during 2016-2020 to reach USD ~ million.

 

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