Market Size of Taiwan Home Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | Medium |
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?
Taiwan Home Furniture Market Analysis
The Taiwan Home Furniture Market is expected to register a CAGR of greater than 4% during the forecast period.
Taiwan's home furniture market is mature and stable, with major advantages developed from traditional industries. Taiwan is one of the world's largest exporters, and some majorly exported furniture items include metal furniture, mainly due to the convenience of upstream metal materials. The main countries to Taiwan exports furniture products to include the United States, Japan, and Germany. It is estimated that roughly one-third of China, Vietnam, and the Philippines' furniture exports also result from Taiwan.
Due to the rising disposable income, consumers are willing to pay a premium to purchase personalized furniture in the country, and home furniture demand is growing. It is expected to gain further momentum in upcoming years. There is also a rising trend of multifunctional furniture in Taiwandueg for environmental protection and the development of green building materials.
Taiwanese furniture makers are utilizing all kinds of natural-looking products made of wood, bamboo, and rattan. They also use metal, glass, and other artificial materials to meet customers' demands. Furthermore, some of the prominent design trends of the Taiwanese furniture industry include the inheritance of classic simplicity and elegance, cross-border trends, new fashion, light luxury styles, and blending of the essence of Eastern and Western aesthetics elements.
The impact of the COVID-19 crisis on consumer behavior and manufacturing trends heightened the importance of digitalization and automation for the furniture industry. Online-savvy consumers seeking personalized shopping experiences and competitive prices pushed furniture manufacturers to innovate their existing workflows.
