China Furniture Market, Market Trends Furniture ,China Custom Made Furniture

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China Furniture Market Report 2020 Ken
Research
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• How China Furniture Market has Evolved?
• China being the second largest economy by nominal
  GDP and world largest economy by purchasing power
  parity (PPP) in 2014 has emerged as one of the
  key furniture market in terms of revenue, top
  largest furniture exporters and one of the major
  manufacturers of wooden furniture in world. The
  furniture market in China has grown with a CAGR
  of during the period 2010-2015. The revenues
  generated by china furniture market were
  evaluated at USD billion in 2010 and has grown
  to USD billion by end of 2015.The furniture
  industry in China has been immensely driven by
  its ability to provide best quality furniture
  products at best affordable prices without
  compromising on the quality standards and low
  cost skilled workforce. Domestic demand for
  furniture had also increased in China due to the
  increase in real estate sector for both
  residential and non-residential segment.

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• China Furniture market had dominated several
  European wooden furniture manufacturing countries
  such as Germany and Italy along with other
  furniture manufacturing nations like Netherland,
  Canada, Poland, Mexico and United States. The
  growth factors that have boosted the growth are
  expansion in real estate and housing activity,
  increasing growth in travel tourism industry,
  growing affluence both in the urban and rural
  areas, remarkable growth of the mass media
  resulting in large number of middle-class
  families aspiring for better lifestyle. Chinese
  customers mostly prefer the wooden furniture in
  comparison to other furniture products. However,
  with the changes in scenario for latest designs
  and finishing features, customers are shifting
  their preference towards integrated furniture
  such as wood-glass furniture in residential and
  non residential sector.

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• China was recognized as top largest furniture
  exporter in the world and exported of its
  production to other nations in 2015. With the
  total furniture export value of USD billion in
  2010 to USD billion in 2015, China furniture
  export market in China has shown prodigious
  growth during the period. On account of
  increasing demand for China furniture items in
  the global market, coupled with rising furniture
  manufacturing capacity of the country, the export
  of furniture has witnessed prolific growth during
  the period 2010-2015. China is widely known for
  its wooden furniture across the world. The demand
  for exports of China furniture has increased due
  to the availability of cheap labor force in
  nation which makes the overall manufacturing cost
  lower compared to other nations.

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• The domestic furniture market of China has been
  predominantly driven by the unorganized segment
  which has comprised an assortment of large number
  of small and medium independent retailers, local
  carpentry shops, numerous SMEs and wholesalers.
  China domestic Furniture market can be segregated
  in residential and Non-Residential furniture
  market. Residential sector has dominated the
  domestic furniture industry with a share of in
  2015, thereby valued at million in 2015.
  However, Non- residential furniture market in the
  domestic country was evaluated at million.
• How has the Contribution of Residential Furniture
  Changed in China Furniture market?
• The residential furniture market comprises with
  extensive product range of furniture products
  which are used in daily household purpose. Major
  furniture items which have propelled the growth
  of residential market are majorly beds, sofas,
  dressers, cupboards, dining table sets, cabinets,
  tables, chairs and others.

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• Increasing spending capacity and a gradual shift
  in consumer perception to purchase branded
  furniture products to beautify their home decor
  has driven the growth of residential furniture
  market in the country. The trendy demand for the
  stylish and latest fashionable furniture from the
  traditional furniture has enhanced the market
  share of the residential furniture in 2015. The
  market for residential furniture has enhanced at
  a CAGR of during 2010-2015.the market had
  increased from USD Billion in 2010 to USD
  Billion in 2015. The reason for the domination
  for residential sector in furniture sales is the
  availability and innovation of large new number
  residential furniture products of innovative
  designs and variety of material
  integration/combinations. Additionally, because
  to availability of large variety of products in
  residential furniture product line than the
  number of products in non residential furniture
  product line, residential furniture products are
  offered at a broader price range, contributing to
  larger demand and resulting in higher percentage
  share to the revenue of domestic furniture market
  in China.

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• The Bedroom furniture has dominated the market
  with share of of the total sales revenue of
  residential furniture market in China during
  2015. Bedroom furniture has stood as the highest
  revenue-generating segment as in the residential
  furniture sector as items placed in bedroom have
  been the utmost priority for any customer. Living
  room Furniture is the second largest contributor
  in the revenues of residential furniture. The
  dining furniture segment accounted for a share of
  in the residential furniture market in terms
  of revenue during 2015. The kitchen segment
  contributed a share of in the overall China
  residential furniture market during 2015.The
  major demand of residential furniture came from
  southern province the major reason accounted is
  the High per capita personal disposable income,
  number of residential building, urbanization had
  led the demand of furniture products in southern
  provinces. Eastern Province is the second largest
  contributor followed by western and Northern
  Province of china.

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• Exclusive stores such as IKEA, Modish Furniture,
  Flexa and others generated sales worth of USD
  Billion in FY2015. Dealers which mostly comprise
  of smaller format stores and contain both branded
  and non-branded furniture registered share in
  the market revenues. In export market there are
  many big manufacturers who are exporting their
  furniture to other countries The residential
  furniture sector will grow at a CAGR of
  during 2016-2020. The market share of residential
  furniture will increase from in the overall
  sales of domestic furniture market in 2016 to
  in 2020. The major reason attributed is the
  increase in Chinese population in the country
  which will surge the demand of furniture
  industry. Additionally with the increase in the
  real estate residential inventories in the major
  cities of China, will further increase the demand
  of residential furniture market in the country.
  The urban population of China is increasing,
  people are moving from rural area to urban areas
  in search of jobs, education and other reason,
  due to this shift the demand for residential
  furniture in China is expected to surge in the
  coming years.

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• What has been the Performance of Non-Residential
  furniture Market in China Furniture Industry?
• Non residential furniture market in China
  comprises of furniture products that are used in
  offices, hospitals, hotels, restaurants, shopping
  malls and other public places. The most commonly
  demanded products in China non residential
  furniture market are primarily chairs, Sofa sets,
  tables, and stools, desks, bar furniture, storage
  cabinets and others. The market for
  non-residential furniture had consistently
  enhanced over the years 2010-2015. The market is
  likely to grow in future in terms of revenue due
  to new hotels, offices, shopping complexes
  observed to get constructed in the recent years.
  Boom in the travel and tourism industry,
  complemented with hospitality sector in the
  current scenario has also driven the
  non-residential furniture market. The market for
  Non- residential furniture has enhanced at a CAGR
  of during 2010-2015.the market had increased
  from USD Billion in 2010 to USD Billion in
  2015.

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• Furniture items which are primarily used in
  offices are desks, computer tables, workstations,
  chairs, paper media organizer, notice boards,
  coffee tables, conference tables, drawer units
  and others. The market of non residential
  furniture has showcased enormous growth during
  the period 2010-2015. The demands for
  non-residential unit are growing due to increase
  in hospitality, travel tourism and construction
  sector which has triggered the market for
  non-residential furniture. In Non Residential
  sector, office and industrial furniture
  contributed largest share of to the revenues
  in 2015 since the amount of volume demanded is
  high in comparison to other segments of non
  residential furniture sector. With the growth of
  tourism sector in China, the number of hotels has
  also increased from in 2010 to in 2015. This
  growth in the hotel industry in China has
  generated demand for hotel furniture which in
  turn has contributed to in 2015 in overall
  sales revenue of non-residential furniture.
  Retail segment includes shopping complexes,
  retail malls and others commercial places.

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• Wooden furniture is the most preferred furniture
  than any other furniture in China due to easy
  availability and large variety of raw material
  available for manufacturing which ultimately
  makes the wooden furniture affordable to purchase
  for the people living in China. But with the
  changing time and economical conditions and
  growth in the spending power of the Chinese
  customers, there is shift towards integrated or
  mixed furniture that is observed in the
  preference of Chinese customers. Offices,
  industrial plants, schools, colleges and other
  places majorly go for contract based furniture.
  As they are buying the products in bulk and all
  the products are of small size and quality. The
  contract based furniture is less expensive than
  customized based furniture and also it takes less
  time for installation. The demand for contract
  furniture and customized furniture had increased
  as well, which are primarily been demanded by
  hotels, bars and hospitals. The contract
  furniture majorly encompasses dining tables,
  dining chairs, cabinets, sideboards, display
  cabinets, wall mounted tables, bar desks, bar
  chairs and other such products.

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• The non-residential furniture market will
  increase at a CAGR of 3.8 during 2016-2020 to
  reach at USD 18.2 billion in 2020. In the coming
  years, government of China is likely to launch
  number of hotel projects and shopping malls,
  which are anticipated to trigger the demand for
  Non-Residential furniture in the coming years.
  With the increase in travel tourism industry
  there will be a trigger in the hospitality sector
  resulting in increase in non-residential
  furniture market in the company. With a rapid
  development of Chinese economy, the advancements
  in city in terms of development, rising number of
  institutions and government agencies will elevate
  the market for non residential furniture in China
  in coming future. The progressive growth of China
  non residential furniture market is likely to
  continue in future as well in terms of revenue
  due to substantial increase in large number of
  commercial units in the country. Increase in
  commercial projects, Increase in FDIs and
  increase in demand of contract Customized based
  furniture in China will trigger the market for
  non residential furniture in future.

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• What Has Been The Growth Trajectory Of Online
  Furniture Market In China?
• Growth in internet usage has helped the
  flourishing of online furniture market in China
  from 2010 to 2015 supported by increasing
  population and growing economy in nation.
  Although Chinas economy has suffered from great
  deal of instability and shown sustained sign of
  weakness throughout 2015, but their technological
  strength had made its ecommerce sector to be a
  major driver of economic growth driving factor
  for the industry due to continuous increase in
  internet penetration and smart phone ownership
  across the nation. Rising urbanization in China
  has strengthened the middle class income group
  with better purchasing power than ever before.
  This rising urbanization growth also helped the
  E-commerce industry in nation to grow on faster
  rate which leads to increase in number of
  internet users from million in 2011 to
  million in 2015.The market for Online furniture
  has enhanced at a CAGR of during
  2010-2015.the market had increased from USD
  Billion in 2010 to USD Billion in 2015.

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• Online China furniture market is projected to be
  one of the boosting factors in the overall China
  furniture market in coming future. The online
  furniture market is projected to grow at CAGR of
  for 2016 to 2020. With the increasing
  internet penetration in the country, the number
  of internet users in China is projected to grow
  at a rate of and reach around million in
  2020. Additionally with the rise in presence of
  online furniture companies and the entry of
  international online furniture players in China
  will accelerate the market size of the industry.
• Trends Developments In China Furniture Market
• Easy availability of raw materials for furniture
  products in the country had triggered the market
  size of furniture industry in the country. With
  access to high quality of raw materials in the
  country, china is manufacturing highest quality
  furniture products in the world. The timber
  forest in the country had triggered the market
  size of wooden based furniture in the country.

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• Easy availability of raw materials for furniture
  products in the country had triggered the market
  size of furniture industry in the country. With
  access to high quality of raw materials in the
  country, china is manufacturing highest quality
  furniture products in the world. The timber
  forest in the country had triggered the market
  size of wooden based furniture in the country.
  Easy availability of raw materials for furniture
  products in the country had triggered the market
  size of furniture industry in the country. With
  access to high quality of raw materials in the
  country, china is manufacturing highest quality
  furniture products in the world. The timber
  forest in the country had triggered the market
  size of wooden based furniture in the country.
  With the improvement in the living conditions in
  China, People are willing to invest more amount
  of money in homes and their decoration. The
  increase in purchasing power in the country had
  driven the demand of furniture in the country.
  People have shifted their preference from buying
  basic necessity of the furniture to more
  lifestyle oriented furniture. The increase in
  penetration in the internet users in the country
  had accelerated the e-commerce industry of the
  country. The increase in the size of E-commerce
  industry has increased the size of online
  furniture sales in the country.

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• What Are The Future Prospectes For China
  Furniture Industry?
• It has been anticipated that the market will
  increase in future at a CAGR of during
  2016-2020. The major reason which will drive the
  furniture market in the country will be the
  growth in the industrial and residential sector,
  ease availability of raw materials, low labour
  cost, online sales, and entry of international
  brands. Additionally support and encouragement by
  Chinese government to local entrepreneurs will
  led them to open furniture business which will
  also drive the furniture market in future. In
  future the domestic sales will be dominating the
  market with a share of in 2020. The increase
  in demand of good quality and antique Chinese
  furniture in low prices will surge the demand of
  furniture in other countries triggering the
  overall export of furniture industry by 2020.
  Additionally, the growth of organized retail
  culture, rising real estate activities,
  increasing demand and rising e retailing of
  furniture in the country are expected to
  contribute substantially to the market growth in
  the coming few years.

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• Source https//www.kenresearch.com/consumer-produ
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  urniture-market-report/35851-95.html
•  Contact Ken ResearchAnkur
  Gupta, Head Marketing CommunicationsAnkur_at_kenre
  search.com91-9015378249

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