Living Room Furniture - China | Statista Market Forecast

In 2024, the revenue in the Living Room Furniture market in China amounts to ¥US$31.66bn.
According to market projections, this sector is expected to experience an annual growth rate of 9.54% from 2024 to 2029 (CAGR 2024-2029).
It is worth noting that, when compared globally, United States generates the highest revenue in this segment, with a total of US$73bn in 2024.
In terms of per capita figures, in 2024, each person in China generates revenues of ¥US$22.10.
China's living room furniture market is experiencing a surge in demand for sleek and modern designs to cater to the country's growing middle class.

Definition:

This Living Room Furniture segment refers to movable objects that are designed to be used in a living room, which is typically a central and multi-functional space in a home. It includes items that are intended to make the room more comfortable and functional, such as seating, tables, and storage unts (e.g., TV stands, console tables, etc.)

Structure:

The Living Room Furniture segment is divided into two subsegments:

The Seats & Sofas subsegment refers to furniture designed for sitting, lounging, or reclining, and typically includes items such as sofas, armchairs, recliners, and ottomans.
The Cabinets, TV Stands, & Side Tables subsegment refers to furniture items that are designed to store or hold various objects such as media equipment, drinks, books, or lamps.

Additional Information:

The Living Room Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment 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.

Sofas and armchairs, dining chairs
Bar tables and chairs, stools, and benches
Coffee, console, and side tables
TV and media furniture

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Living Room Furniture market in China has been experiencing significant growth in recent years.

Customer preferences: Chinese consumers have shown a growing interest in purchasing living room furniture that combines both functionality and aesthetics. They are increasingly seeking furniture that not only serves its purpose but also adds a touch of style and elegance to their living spaces. This trend can be attributed to the rising disposable incomes and changing lifestyles of Chinese consumers, who are now more focused on creating comfortable and visually appealing living environments.

Trends in the market: One of the key trends in the Living Room Furniture market in China is the increasing demand for multifunctional furniture. Chinese consumers are increasingly living in smaller homes or apartments, and they are looking for furniture that can serve multiple purposes and save space. This has led to a rise in the popularity of convertible sofas, storage ottomans, and modular furniture that can be easily rearranged to fit different needs. Another trend in the market is the growing popularity of online sales channels. Chinese consumers are increasingly turning to e-commerce platforms to purchase living room furniture due to the convenience and wide range of options available. Online retailers are capitalizing on this trend by offering competitive prices, attractive discounts, and easy return policies, which further encourages consumers to make their purchases online.

Local special circumstances: One of the unique aspects of the Living Room Furniture market in China is the influence of traditional Chinese culture on consumer preferences. Chinese consumers often seek furniture designs that reflect their cultural heritage and incorporate traditional elements. This has led to a demand for furniture with intricate carvings, auspicious symbols, and traditional materials such as bamboo and rattan.

Underlying macroeconomic factors: The rapid urbanization and rising middle class in China have played a significant role in the growth of the Living Room Furniture market. As more people move from rural areas to cities, there is an increasing demand for furniture to furnish new homes. Additionally, the rising disposable incomes of Chinese consumers have allowed them to allocate a larger portion of their budgets to purchasing furniture, leading to increased sales in the market. In conclusion, the Living Room Furniture market in China is experiencing growth due to changing customer preferences, including a desire for functional and stylish furniture, and the increasing popularity of online sales channels. The influence of traditional Chinese culture on consumer preferences and the macroeconomic factors of rapid urbanization and rising middle class have also contributed to the market's 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.