Market Size of China Upholstered Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 42.41 Billion |
| Market Size (2029) | USD 59.39 Billion |
| CAGR (2024 - 2029) | 6.97 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Upholstered Furniture Market Analysis
The China Upholstered Furniture Market size is estimated at USD 42.41 billion in 2024, and is expected to reach USD 59.39 billion by 2029, growing at a CAGR of 6.97% during the forecast period (2024-2029).
China is currently the largest producer and exporter of upholstered furniture in the world. China is responsible for 40% of the global output value of upholstered furniture. Upholstered furniture has become increasingly popular in mainland China due to its comfort, stylish design, rich colors, and diverse styles. Over the past decade, China has experienced significant economic growth, and the furniture market has also seen a rapid increase in demand. In the current year, the revenue of furniture manufacturers increased by 1.5%, while their profits rose by 10.8% year on year.
Rapid urbanization is a major driving factor for the growth of the upholstered furniture market in China. According to the National Bureau of Statistics, China's urbanization level has surpassed 60%, making it the highest in the world. The increasing number of people living in urban areas has led to a rise in upholstered furniture sales. Furthermore, China's export of upholstered furniture has also increased. The United States is the largest importer of Chinese upholstery furniture, accounting for approximately one-third of all exports. This is expected to boost the growth of this market during the forecasted period.
