Market Trends of China Home Furniture Industry
Increase in Disposable Income is Driving the Market
- China is the most populated nation globally, and due to this, domestic demand for furniture is quite high in China. The rise in per capita disposable income in China, increasing population, and urbanization are factors enhancing the demand for China's home furniture market.
- China's home furniture market is one of the largest in the world, with substantial growth potential. Rapid urbanization and increasing demand for quality living spaces have fueled the expansion of the market. Chinese consumers are increasingly focused on quality, design, and functionality when purchasing home furniture. There is a growing preference for stylish and modern furniture designs that reflect contemporary trends. Additionally, environmentally friendly and sustainable furniture options are gaining popularity among environmentally conscious consumers. Home furniture in China is sold through various distribution channels, including brick-and-mortar stores, online retailers, department stores, specialty furniture stores, and home furnishing malls. E-commerce platforms have emerged as significant distribution channels, offering consumers a wide range of furniture options and convenient shopping experiences.
- Increasing disposable income has influenced the individual to spend more on a comfortable lifestyle; this is expected to provide growth opportunities for the China home furniture market. Rising consumer spending and disposable income levels are expected to boost the consumption of home furniture products.
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Living Room Furniture Segment is Dominating Market
- The living room segment is immediately followed by kitchen and dining room equipment. This trend is especially noticeable because of the high population and increases in the southern and eastern parts of the country with the multiplication of high-rise buildings.
- The high percentage of the population living in urban areas has been the primary consumer of living room furniture, and this will present the market with huge growth opportunities and potential in the near future. The number of residential property transactions is also expected to increase over the coming period, fuelled by rising real incomes and low unemployment levels, allowing more people to buy homes and increasing the demand for furniture.
