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Analysis of the development trend of China's furniture industry in the near future

2020-12-24
Analysis of the development trend of China's furniture industry in the near future
           SYNWIN
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Analysis of the prospects of China's furniture market
           
Soft furniture

Soft furniture belongs to a kind of furniture, including sofas and soft beds such as leisure fabrics, real leather, imitation leather, and leather. Modern furniture is a more detailed type of furniture. The soft furniture industry has formed large production bases in Beijing, Chengdu, Sichuan, and Guangdong.



           
In the past
Before 1995, the Chinese furniture industry was in a naive period, and all aspects of the conditions were not yet mature; from 1995 to 2005, the Chinese furniture industry entered the early stage of growth; from 2005 to 2015, the Chinese furniture industry was in the middle of growth, with relative Concentrated, relatively professional furniture production base. After 2015, my country's furniture market has gradually transitioned to a mature stage.


IN THE COMING FURTURE

            Among Chinese urban residents, the ownership rate of upholstered furniture is only 6.8%, which is much lower than the average level of 72% in developed countries in Europe and America. With the rapid development of China's economic construction, the office conditions of government agencies have improved, and banks, securities companies, schools, hospitals, and enterprises and institutions continue to expand, which will continue to promote the growth of demand for upholstered furniture. At the same time, with the construction of modern office buildings, the original office space needs a large supply of soft furniture, and foreign companies set up offices in China, the average annual growth rate of soft furniture demand is expected to reach more than 20%. It is estimated that in the next five years, China will have a market capacity of 29 million sets of upholstered furniture, an average of 5.8 million sets per year. If calculated at an average of 30,000 yuan per set, there will be an average annual market space of 174 billion yuan. 

           After entering the 21st century, the Chinese government has proposed speeding up the pace of urbanization and small urbanization, comprehensively prospering the rural economy, and speeding up the process of urbanization in order to further stimulate the consumer market and expand the consumption field. By 2015, China's urbanization level will reach 52%. This move by the country will surely further promote China's housing construction, which will lead to the development of housing-related industries. In accordance with the needs of society and development, the State Council proposed the industrialization of housing. This measure will promote the standardization, serialization and industrialization of tens of thousands of products that support housing. Due to the development of housing industrialization, housing has entered the market as a commodity, providing development space for various types of furniture and supporting products. At the same time, the per capita living consumption cash expenditure of rural residents has also increased year by year, and rural residents' demand for housing decoration and furniture purchases has increased year by year. This shows that China's furniture industry has huge market potential. 

          In summary, from the perspective of the development of the furniture industry, whether for export or domestic sales, the overall trend will continue to rise in the next 5 years

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