Furniture

China

(Core country: data based on in-depth analysis)

Highlights
Market definition
in-scope / out-of-scope
Reports special
  • Revenue in the Furniture market amounts to US$137,322m in 2019. The market is expected to grow annually by 7.3% (CAGR 2019-2023).
  • In global comparison, most revenue is generated in United States (US$259,742m in 2019).
  • In relation to total population figures, per person revenues of US$95.28 are generated in 2019.
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The Furniture market centers on different movable commodities designed to support various activities, like seating or sleeping, holding or storing objects, etc. Unmovable household objects (e.g. sinks, faucets, etc.) are excluded as well as tableware, cutlery and other small objects, while this market outlook includes both B2C (business to consumer) and B2B (business to business) sales (e.g. furniture for coffee shops, offices, etc.). Also, although furniture sometimes has a decorative, symbolic or religious purpose, the focus lies on the furniture with a primarily functional role and the market is segmented accordingly.
in-scope
  • Seats and Sofas
  • Beds and Mattresses
  • Tables and shelves
  • Rugs, lamps and lighting
  • Other furniture of various materials
out-of-scope
  • Baths, sinks, faucets and other unmovable objects
  • Tableware, kitchenware and other household articles
  • Consumer Electronics
  • Household appliances
  • Other household textiles
Furniture Report - 2019

Furniture Report - 2019

Statista Consumer Market Outlook - Market Report
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Revenue (2019)
+8.2% yoy
US$137,322m
Average Revenue per Capita (2019)
+7.7% yoy
US$95.28

Revenue Revenue Growth

in the Furniture market in million US$ in percent

Reading Support Revenue in the Furniture market amounts to US$137,322m in 2019. Reading Support The Furniture market is expected to show a revenue growth of 7.7% in 2020.

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  • Revenue
  • Revenue Growth
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Revenue:

The “Revenue” box shows the forecasted revenue development of the selected market (market segment, region) in million US dollars for each year.


Revenue Growth:

The “Revenue Growth” box shows the year-over-year revenue development of the selected market (market segment, region) in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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Average Revenue per Capita

in the Furniture market in US$

Reading Support The average revenue per person in the market for Furniture amounts to US$95.28 in 2019.

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Average Revenue per Capita:

The "Average Revenue per Capita" box shows the average market value of the selected market (market segment, region) per person in US dollars for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Analyst Opinion

Nowadays, consumers are replacing their furniture more frequently than in the past, and this is largely due to increasing standards of living and a steady increase in disposable income across board. These are some of the factors which are driving the continous growth of the Furniture market. Also, aesthetic reasons coupled with the need for consumers to be comfortable in their apartment, as evidenced by the Living Room and Dining Room segment being the Furniture market's largest segment, and the adoption of online shopping are major contributing factors to the constant growth of the market.

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Sales Channels

in the Furniture market in percent

Reading Support In the Furniture market, 69% of total revenue will be generated through online sales by 2023.

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Sales Channels:

The distribution channel Online refers to the purchase of physical goods in online retail. In other words, the purchase is concluded via the internet - on a desktop PC, tablet or smartphone. The distribution channel Offline covers all purchases in stationary stores, via telesale or mailorder (e.g. print catalogs)

A definition and detailed explanation of the displayed markets can be found here.
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Global Comparison - Revenue

in the Furniture market in million US$

Reading Support With a market volume of US$259,742m in 2019, most revenue is generated in United States.

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Global Comparison – Revenue:

The “Revenue” tab shows a comparison of revenues for the leading economies in the selected market (market segment, region) and year.

A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the demographic, economic and technological development of the selected region on the basis of general KPIs. The calculation of Statista’s Market Outlook is based on a complex market-driver logic including over 400 region-specific data sets.

201520162017201820192020202120222023 CAGR
(2015-2023)
Population in m
Number of individuals (all ages) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
0-14 years in m
Number of individuals (age 0-14) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
15-24 years in m
Number of individuals (age 15-24) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
25-34 years in m
Number of individuals (age 25-34) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
35-44 years in m
Number of individuals (age 35-44) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
45-54 years in m
Number of individuals (age 45-54) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
55+ years in m
Number of individuals (age 55 and older) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
Consumer spending (current) in US$
Average consumer spending per capita of private households in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Foodstuffs, beverages in US$
Consumer spending per capita for food and non-alcoholic beverages (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. The markets for Alcoholic, Non-Alcoholic and Hot Drinks in turn not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Alcohol, tobacco in US$
Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. The market for Alcoholic, Non-Alcoholic and Hot Drinks not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Clothing, footwear in US$
Consumer spending per capita for clothing and footwear (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Included are both consumption of goods as well as services (cleaning and cobblers). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Housing in US$
Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Household in US$
Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Health in US$
Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Transport in US$
Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). This group inlcudes the purchase of vehicles, maintenenace of vehicles as well as transportation services. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Communication in US$
Consumer spending per capita for communication (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Recreation, culture in US$
Consumer spending per capita for recreation and culture (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Education in US$
Consumer spending per capita for education (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Restaurants, hotels in US$
Consumer spending per capita for restaurants and hotels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Other in US$
Consumer spending per capita for miscellaneous goods and services (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Consumer price index (CPI)
Consumer price index (CPI) for a weighted basket of goods and services. The weights of the components vary by country according to local consumption patterns. The base year (100) has been set to 2017 for all countries, the base year of the input data may vary. | Source: Statista, based on IMF WEOD
Foodstuffs, beverages
Consumer price index for food and non-alcoholic beverages. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Alcohol, tobacco
Consumer price index for alcoholic beverages, tobacco and narcotics. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Clothing, footwear
Consumer price index for clothing and footwear. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Housing
Consumer price index for housing, water, electricity, gas and other fuels. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Household
Consumer price index for furnishings, household equipment and routine maintenance of the house. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Health
Consumer price index for health. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Transport
Consumer price index for transport (purchase of vehicles, maintenenace of vehicles and transport services). Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Communication
Consumer price index for communication. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Recreation, culture
Consumer price index for recreation and culture. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Education
Consumer price index for education. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Restaurants, hotels
Consumer price index for restaurants and hotels. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Other
Consumer price index for miscellaneous goods and services. These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. Gaps filled with next higher COICOP position. | Source: Statista, based on IMF, national statistical offices
International trade
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Trade (% of GDP) in %
Sum of exports and imports of goods and services in relation to total gross domestic product (GDP) | Source: Statista, based on World Bank, OECD
Container port traffic in m TEU
Sum of on- and offloading of containers (TEU: 20 foot equivalent units) to marine vessels in the selected region | Source: Statista, based on UNCTAD, World Bank
Finance
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Credit card penetration in %
Percentage of the total population who own at least one credit card | Source: Statista, based on World Bank
Debit card penetration in %
Percentage of the total population who own at least one debit card | Source: Statista, based on World Bank
Online banking penetration in %
Estimated population share that uses the internet for accessing banking services | Source: Statista, based on World Bank and Eurostat
Households in m
Total number of households in the selected region | Source: Statista
GDP (current) in US$
Gross domestic product (in current prices, constant exchange rate) of the selected region per capita | Source: Statista, based on IMF WEOD
Source: Statista, September 2019
Source: Statista, September 2019, based on IMF, World Bank, UN and Eurostat

Methodology

The Furniture market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Furniture industry.

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