Furniture market in China – additional information
After decades of development in the furniture industry, China has become the world’s largest furniture producer as well as exporter. Being among the major export goods of China, a significant part of China’s furniture products are destined for the global market. In 2013, the total value of Chinese furniture exports had amounted to nearly 52 billion U.S. dollars.
Simultaneously, development of the domestic furniture market is bolstered by an increase in purchasing power among Chinese customers. Continuously rising incomes in both urban and rural China have raised the living standards for a large share of the Chinese population. Hence, Chinese consumers are willing to pay more on household decorations. As a response, the furniture market in China has developed into a multi-billion dollar industry. In 2012, China’s furniture manufacturing industry had generated about 564.75 billion yuan in sales revenue.
Wooden furniture accounts for a major proportion of the furniture manufacturing industry in China. Traditionally, Chinese customers tend to choose solid wood in terms of furniture materials. Operating revenue of wood furniture manufacture in China has been projected to reach about 68 billion U.S. dollars by 2015. Also, bamboo and rattan furniture gained increasing popularity in recent years. By 2020, operating revenue of bamboo and rattan furniture manufacture in China is estimated to reach about 1.7 billion U.S. dollars.