Japanese Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Japan Furniture Market Analysis

The Japan Furniture Market generated a revenue of USD 21.40 billion in the current year and is expected to register a CAGR of 3% during the forecast period.

The outbreak of the COVID-19 pandemic acted as a massive restraint on the furniture market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. Steps by national governments to contain the transmission of the virus resulted in the halting of manufacturing activities and a decline in economic activity, with countries entering a state of "lockdown." However, the furniture market is now recovering and is expected to grow at a strong rate.

Some of the major factors driving the demand for furniture products in the country include rising disposable income, increasing household and commercial spaces, and rising urbanization. The Japanese furniture industry had evolved from a small market of around 50 billion yen to nearly 3.5 trillion yen in 2019. The popularity of high-end and luxury furniture is a big part of why Japanese people buy so much furniture.

The country is witnessing increased construction activity, which has led to the expansion of residential real estate and a significant increase in the number of households in the country. This is boosting the demand for furniture products such as living room and bedroom furniture. The country is also witnessing an increased demand for office furniture products due to the rising consumption of office spaces, fueling market demand. When people in Japan start a new family, there is also a rise in demand for beautiful, long-lasting high-end solid wood furniture. This helps the market grow.

The market share of imported furniture in Japan has risen significantly in the last few years. Among imported furniture, wooden furniture occupies the largest proportion, followed by furniture accessories, metal furniture, plastic furniture, etc. With low labor costs, China has become Japan's largest furniture importer, accounting for nearly 40% of the total Japanese wooden furniture imports. Some of the other countries that import furniture products from Japan are Thailand, Vietnam, Malaysia, the Philippines, Indonesia, Germany, and Italy.

Japan Furniture Market Trends

Home Furniture is the Largest Segment

To understand key trends, Download Sample Report

Japan Furniture Industry Segmentation

 The Furniture market  includes different movable objects such as chairs, tables, beds, and cabinets etc. that are designed to support different human activities such as sleeping, sitting, and storing items. A complete background analysis of Japan's furniture industry includes a qualitative and quantitative assessment of the market, emerging market trends by segment, significant changes in the market dynamics, and the market overview covered in the report. The report also covers the competitive landscape of the China furniture industry, which provides details about the key players present in the market. The Japanese furniture market is segmented by material (wood, metal, plastic, and other furniture), application (home furniture, office furniture, hospitality furniture, and other furniture), and distribution channel (supermarkets and hypermarkets, specialty stores, online, and other distribution channels).The market size and forecasts are provided in terms of value (USD billion) for all the above segments.

Report scope can be customized per your requirements. Click here.