Market Size of Japan Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 21.40 Billion |
| Market Size (2029) | USD 24.81 Billion |
| CAGR (2024 - 2029) | 3.00 % |
| Market Concentration | Low |
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?
Japan Furniture Market Analysis
The Japan Furniture Market size is estimated at USD 21.40 billion in 2024, and is expected to reach USD 24.81 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).
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.
