China Furniture Market Overview, 2028

China Furniture Market Overview, 2028
The vast population of China creates a very high demand for furniture. Since consumers are prepared to spend more on furniture and floor coverings as a result of the country's large population and expanding disposable income, the Chinese furniture business is growing rapidly. One of the other key drivers of the expansion of the furniture business in China is urbanization, which is accompanied by rising real estate development, robust GDP growth, and overall economic stability. The abundance of natural resources has led to a thriving furniture business in China. Beijing, the Pearl River Delta, Shanghai, Shandong, Fujian, and Zhejiang are a few well-known regions in China where the domestic furniture business is centered. Additionally, a recent development in the nation is the opening of furniture malls in China due to rising consumer demands. The main factors boosting the growth of China's furniture market are raising urbanization and the middle-class population. The rapid growths of China’s middle class and urbanization have had a substantial impact on the furniture business. A significant inflow of people into China's cities as a result of its fast urbanization has raised demand for housing and, consequently, furniture. As people and families relocate to cities, they need furniture for their new residences, such as mattresses, sofas, dining sets, and storage options. Furthermore, China's expanding middle class has been a major factor in boosting the country's furniture sector.

According to the research report ""China Furniture Market Overview, 2028,"" published by Bonafide Research, the China Furniture market was valued at USD 76.62 Billion in 2022. The main trend in the expansion of the Chinese furniture business is a growing emphasis on employing environmentally friendly and sustainable materials. Consumers in China are becoming more conscious of how their purchases affect the environment. As a result, there is a sizable demand for furniture constructed of environmentally friendly and sustainable materials. Chinese producers and merchants have reacted to this trend by providing furniture solutions that place an emphasis on environmental sustainability. They are using recyclable, renewable materials that have a smaller carbon footprint. Additionally, shoppers in China actively seek out furniture products with these certifications since they offer reassurance that the materials used were created and supplied sustainably. The Chinese government has also established policies and regulations to encourage eco-friendly practices since it recognizes the significance of sustainability in the furniture sector. This has further influenced businesses to choose eco-friendly production methods and materials. In China, the e-commerce market is expanding quickly, opening up new opportunities for the furniture market. E-commerce portals offer amazing features to attract online shoppers and give furniture merchants new opportunities for expansion. As clients prefer online shopping due to the ease and convenience of logistics and the delivery of furniture products at their doorstep, purchasing furniture online is growing in popularity. With the help of online storefronts and e-commerce portals, many furniture sellers are building strong online brand presences and boosting their sales. Alibaba, JD.com, and Made-In-China are a few of the well-known authority websites for furniture sales in the nation.

Based on product market is segmented into beds, tables & desks, sofa & couch, chairs & stools, cabinets & shelves, and others. Beds product are playing crucial role in the development of furniture market in China and is significantly dominating the market as well. China's massive population, along with continuing urbanization, has resulted in a continued demand for housing and home furnishings. Beds are crucial items of furniture in every household, making them indispensable in rapidly developing metropolitan areas. As China's economy expanded, so did its people's lifestyles. More families are looking for comfortable and modern living spaces, which includes investing in high-quality beds to ensure a good night's sleep and overall well-being. Homeownership rates have been rising as a result of increased incomes and government programs that encourage home ownership. This has increased demand for furniture, particularly critical items such as beds. Furthermore, the material that are used for making furniture in China includes, wood, metal, plastic, glass, and others. Small amounts of tropical hardwood and a variety of softwood and temperate hardwood are produced in both the Southwest and South areas of China. Furniture made from these locations includes Chinese beech, birch, paulownia, alder, maple, rosewood, and mahogany. Wood has been utilized for generations in traditional Chinese furniture manufacturing. This legacy has resulted in a great appreciation for wood's natural beauty and adaptability. Wood is profoundly ingrained in Chinese culture and symbolism. Different wood species are connected with various qualities and values, bringing cultural relevance to furniture selection. Wood is a versatile material that can be cut, molded, and treated in a variety of ways. This versatility enables a vast range of furniture designs to fit a wide range of consumer tastes.

The category of the market include indoor and outdoor. Indoor category is expected to lead the market of furniture in China. The development of new residential properties, such as apartments and houses, has increased the demand for interior furniture to outfit these residences. As earnings rise and living standards rise, there is a greater focus placed on constructing aesthetically beautiful and well-furnished spaces. As a result, there is a greater need for indoor furniture that improves the comfort and atmosphere of living spaces. Interior design trends have emphasized the creation of beautiful and coherent indoor living areas, fueling demand for furniture that matches these design principles. Based on application market is divided into residential, office, hotel, others (hospital furniture). Residential application is majorly dominating the market of China. In Chinese culture, the home is seen as a primary focus for family interactions, gatherings, and social activities. It is strongly founded in cultural values and traditions to create a peaceful and well-furnished living environment. China's growing middle class has greater disposable income, allowing more households to invest in high-quality home furnishings, fueling demand. Furniture customization is becoming increasingly popular, allowing customers to adapt furniture pieces to best match their homes. These appeals to customers looking for versatile and flexible solutions.

Based on distribution channel of the market is divided into specialty stores (traditional stores, branded furniture/flagships stores, lifestyle stores, home centers), supermarkets and hypermarkets (department stores, discount department stores), online, others (office supply stores, buying through a designer). Speciality store is dominating the market of China. Specialty retailers curate a vast range of furniture products to suit a variety of tastes and styles. Customers can go through several possibilities and select furniture pieces that suit their unique tastes. Chinese shoppers place a high emphasis on individualized and tailored buying experiences. Customers can obtain advice and recommendations based on their individual needs in a more personalized and concentrated setting at specialty stores. Specialty stores can offer personalized solutions to meet the specific needs of their consumers, such as decorating limited areas or adapting specific design trends.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Furniture market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material:
• Wood
• Metal
• Plastic
• Glass
• Others

By Product:
• Beds
• Tables & Desks
• Sofa & Couch
• Chairs & Stools
• Cabinets & Shelves
• Others

By Category:
• Indoor
• Outdoor

By Application:
• Residential
• Office
• Hotel
• Others (Hospital Furniture)

By Distribution Channel:
• Specialty Stores (Traditional Stores, Branded Furniture/Flagships Stores, Lifestyle Stores, Home Centers)
• Supermarkets and Hypermarkets (Department Stores, Discount Department Stores)
• Online
• Others (Office Supply Stores, Buying Through a Designer)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Furniture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.