Latest News- Furniture Market in China: Indoor is expected to lead the Type segment during 2024-2028

The Furniture Market in China is being driven by Expanding urbanization and middle-class population in China

The Furniture Market in China is expected to grow at a CAGR of 12.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 73.1 billion. The furniture market in China is witnessing a notable shift towards sustainability and eco-friendliness, with consumers increasingly prioritizing environmental concerns in their purchasing decisions. This trend is driven by growing awareness of the impact of furniture production and disposal on the environment. In response, manufacturers and retailers in China are offering furniture options made from renewable and recyclable materials, such as bamboo, which is a fast-growing and sustainable resource. These eco-friendly furniture choices not only reduce the carbon footprint but also cater to the evolving preferences of Chinese consumers who value sustainability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Indoor
  • Outdoor
• Distribution Channel
  • Offline
  • Online
• Geography
  • China

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expanding urbanization and middle-class population in China
• Increasing focus on home renovation and decoration
• Growing new infrastructure projects

However, the market also witnesses some limitations, which are as follows:

• Uncertainty in raw material prices of furniture
• Inherent threat from re-used furniture market
• Diversified customer preferences

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Market Scope in Furniture Market in China Research Report

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Research Analysis Overview

In China's vibrant furniture market, a diverse range of styles caters to various consumer preferences. From custom-made pieces to antique, modern, classic, minimalist, luxury, and budget options, there's furniture for every taste and budget. Additionally, eco-friendly choices like sustainable, recycled, bamboo, rattan, and wicker furniture are popular. Furniture categories include children's and baby items, pet furniture, storage solutions, commercial, contract, healthcare, educational, religious, hotel, restaurant, and retail pieces. Accessories like furniture coatings, hardware (handles, hinges, fasteners), legs, and upholstery fabrics, as well as components such as foam, springs, and design software (CAD, 3D printing), ensure quality and safety. Furniture production adheres to stringent safety standards and undergoes rigorous quality testing.

Market Research Overview

The global home furnishings market encompasses businesses involved in the manufacturing and marketing of various furniture categories, including wood, metal, upholstered, office, home, and outdoor, as well as floor coverings, decorative products, household appliances, and other homeware. According to Technavio, the market size is determined by the consolidated revenue generated by these sectors. Factors driving the growth of this market include the increasing construction of residential and commercial properties, particularly in key regions such as the US, China, and India, leading to heightened demand for new and renovated furniture.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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