Definition:
The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.
Structure:
The Furniture market is divided into seven segments:
Additional Information:
The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
The Furniture market in Japan has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Japanese customers have shown a growing interest in furniture that combines functionality with minimalist design. They prefer clean lines, neutral colors, and simple yet elegant designs. This preference for minimalism reflects a cultural emphasis on simplicity and harmony. Additionally, there is a strong demand for furniture that maximizes space utilization, as many Japanese homes are relatively small.
Trends in the market: One of the key trends in the Japanese furniture market is the increasing popularity of eco-friendly and sustainable furniture. As environmental concerns continue to gain importance worldwide, Japanese customers are actively seeking out furniture made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is also driven by government initiatives promoting sustainable living and reducing carbon emissions. Another notable trend is the rise of online furniture shopping. Japanese consumers are increasingly turning to online platforms to purchase furniture, attracted by the convenience and wider range of options available. Online retailers are capitalizing on this trend by offering virtual showrooms, 3D visualization tools, and personalized recommendations, enhancing the overall shopping experience.
Local special circumstances: Japan has a rapidly aging population, with a significant proportion of elderly citizens. This demographic shift has created a demand for furniture that caters to the needs of older individuals, such as ergonomic chairs, adjustable beds, and furniture with built-in safety features. Manufacturers are responding to this demand by designing products that prioritize comfort, accessibility, and ease of use.
Underlying macroeconomic factors: Japan's robust economy and high disposable income levels contribute to the growth of the furniture market. As the economy continues to recover from the impact of the COVID-19 pandemic, consumer confidence is increasing, leading to higher spending on furniture and home decor. Additionally, government policies promoting housing construction and renovation projects further stimulate the demand for furniture. In conclusion, the Furniture market in Japan is evolving to meet changing customer preferences, driven by a desire for minimalist and functional designs, eco-friendly options, and online shopping convenience. Local special circumstances, such as an aging population, also influence the market trends. Overall, the market is supported by a strong economy and government initiatives that encourage sustainable living and housing development.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights