The Development Trend of the Global Furniture Industry

March 29,2022

At present, among the main producing and consuming countries in the global furniture industry, the proportion of China's production and sales can reach 98%. In Western countries, the furniture market capacity is relatively large. In the future, with the increase of per capita disposable income in various countries, the consumption of furniture will continue to grow.

 

The Development Trend of the Global Furniture Industry

Global furniture demand will continue to grow, and industry concentration will increase.

 

In developed countries and regions such as Europe, America, Japan, and South Korea, consumers usually have higher requirements for comfortable living conditions. They have a steady demand for furniture.

 

In emerging market countries, the urbanization process continues to advance, and the increase in the size of the urban population leads to an increase in the demand for furniture.

 

Data show that the global furniture market will reach US$650.7 billion in 2027, an increase of US$140.9 billion compared with 2020.

 

Although the spread of the global epidemic in 2020 has affected the trade situation of the furniture industry to a certain extent, in the long run, the global furniture industry will be further integrated. The overall development quality of the industry will be further improved.

 

Changes in consumer demand increased brand and experience requirements.

 

With the continuous development of the global economy and the continuous improvement of residents' income and living standards, consumers are no longer satisfied with the basic functions of furniture products and pay more attention to the brand and user experience of the products.

 

To meet the needs of consumers, furniture manufacturers will continue to increase their investment in product design and branding.

 

At the same time, the younger generation of consumer groups has gradually become the mainstream, and the new consumption forces they represent are coming to the furniture market. This will further promote the development of furniture branding.

 

In the future, furniture companies need to pay more attention to brand building and product design to meet the new needs of consumers for furniture products.

 

At Last

 

The furniture industry will develop in the direction of new retail, new marketing, and new services. For more industry information, please follow us.

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