Furniture Stores in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
6582Revenue
$38.0bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
93,001
Businesses
5,911
Wages
$XXX.Xm
Furniture Stores in China industry analysis
The Furniture Stores industry in China accounts for about one third of total revenue from China's furniture sector. The remaining sales are generated by other industries, like furniture wholesaling, department stores and direct sales from furniture manufacturing. Revenue for the Furniture Stores industry is expected to grow at an annualized 3.4% over the five years through 2023, to $38.0 billion. This includes an expected revenue increase of 7.9% in the current year.Industry demand is driven by growth in China's housing market, the steady developing economy and furniture manufacturing and designing research and development. In 2011, the Chinese government began the construction of 10.0 million units of non-commercial residential housing (i.e. indemnificatory houses) to further improve the living standards of medium- and low-income families and promote the healthy development of the real estate market. In 2012, the government constructed an additional 7.0 million units. These indemnificatory houses are supporting demand for furniture and benefiting the industry. Moreover, the new-for-old policies for furniture in Beijing implemented in November 2012 promoted the updating of old furniture.Demand for high-quality furniture is increasing in China as income levels increase and China's middle class expands. High-end furniture will account for a greater proportion of industry revenue over the next five years. Over the five years through 2028, industry revenue is forecast to grow at an annualized 6.7%, to reach $52.6 billion.A new store type, called furniture supermarkets or malls, has developed in recent years in China. Furniture supermarket operators build large-scale business buildings that are rented to small, low-end furniture retailers to display their products as they do in independent stores. Resource management systems adopted by high-end operators will be employed by furniture supermarkets to more efficiently manage the entry and exit of retailers and compete more effectively with high-end retailers. With booming ecommerce in China, online furniture stores have also been rapidly developing. Several furniture enterprises have set up online furniture stores to meet increasing demand from consumers.
Trends and Insights
- The growing market demand guarantees the steady growth of the industry. The increase of residents' disposable income increases the demand for furniture consumption.
- Wood furniture accounts for the largest proportion of industry revenue. Influenced by Chinese traditional culture, Chinese families prefer wooden furniture.
- Consumers in Shanghai have the strongest purchasing power. As a representative of East China's economy, Shanghai Province contributes the most to the industry.
- Consumers are constantly looking for better value in the products they buy. Consumers will shop around to get the best price, and merchants will engage in price wars to gain users.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.4 % over the past five years, to reach an estimated $38.0bn in 2024.
Trends and Insights
Growing market demand influences steady growth of the industry
- Economic and population growth have led to increases in disposable income, which have supported demand for better living environments and increased furniture consumption.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Housing market easing policies drives industry growth
- In 2023, the real estate stimulus policy continues to increase, and many places have introduced property market relaxation policies, and the fundamentals of the real estate industry are expected to continue to recover.
Biggest companies in the Furniture Stores in China
| Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
|---|
There are no companies that hold a large enough market share in the Furniture Stores in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Wood furniture, Metal furniture and Bamboo, cane and plastic furniture. Wood furniture is the largest segment of the Furniture Stores in China.
Trends and Insights
Wood furniture is favored by Chinese customers
- Wood furniture refers to furniture made of solid wood.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Wood Furniture Manufacturing in China
- Department Stores & Shopping Malls in China
- Office Supply Stores in China
- Online Shopping in China
Complementors
- There are no industries to display.
International industries
- Online Household Furniture Sales in the US
- Bed & Mattress Stores in the US
- Furniture Stores in Canada
- Furniture Retailing in Australia
- Furniture Retailing in New Zealand
Table of Contents
About this industry
Industry definition
The Furniture Store industry is part of China's retail trade sector. Furniture stores retail a broad range of furniture goods for dining rooms, bedrooms, kitchens, home offices, and other indoor and outdoor areas. These furniture goods are purchased from domestic and international manufacturers and wholesalers.
What's included in this industry?
Wood furnitureMetal furnitureBamboo, cane and plastic furnitureGlass manufactured furniture and othersCompanies
Purchase this report to view all major companies in this industry.
Related Terms
FOREIGN-INVESTED COMMERCIAL ENTERPRISES (FICE)CONSUMER PRICE INDEXENTERPRISE RESOURCE PLANNING (ERP)Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The growing market demand guarantees the steady growth of the industry. The increase of residents' disposable income increases the demand for furniture consumption.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Wood furniture accounts for the largest proportion of industry revenue. Influenced by Chinese traditional culture, Chinese families prefer wooden furniture.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Consumers in Shanghai have the strongest purchasing power. As a representative of East China's economy, Shanghai Province contributes the most to the industry.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Consumers are constantly looking for better value in the products they buy. Consumers will shop around to get the best price, and merchants will engage in price wars to gain ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Core strategy is important for enterprises. Furniture stores market is highly competitive, and each enterprise has its own core strategy to win market share.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The level of real household disposable income influences the industry. The increase of residents' disposable income stimulates residents' demand for furniture industry.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases are the largest item in the industry's cost structure. Purchases include goods from furniture wholesalers and manufacturers.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Furniture Stores industry in China in 2024?
The market size of the Furniture Stores industry in China is $38.0bn in 2024.
How many businesses are there in the Furniture Stores in China industry in 2024?
There are 5,911 businesses in the Furniture Stores industry in China, which has grown at a CAGR of 0.1 % between 2019 and 2024.
Has the Furniture Stores industry in China grown or declined over the past 5 years?
The market size of the Furniture Stores industry in China has been growing at a CAGR of 3.4 % between 2019 and 2024.
What is the forecast growth of the Furniture Stores industry in China over the next 5 years?
Over the next five years, the Furniture Stores industry in China is expected to grow.
What does the Furniture Stores in China include?
Wood furniture and Metal furniture are part of the Furniture Stores industry.
How competitive is the Furniture Stores industry in China?
The level of competition is high and increasing in the Furniture Stores industry in China.
