China Furniture Market Forecast to Grow at a CAGR of 11.3%

The China furniture market is experiencing significant growth, driven by increasing consumer disposable income and rising expenditure on home decor. The market is also benefiting from the booming tourism industry and substantial investments in the hospitality sector, including airports, hotels, and restaurants.

According to a recent study by strategic consulting and market research firm Report Ocean, the China furniture market was valued at USD 71.5 billion in 2021 and is projected to reach approximately USD 155.1 billion by 2028, growing at a CAGR of 11.3%. The growth is attributed to China`s large population, increasing disposable incomes, and higher spending on home decor. Additionally, investments in the hospitality sector and the development of commercial facilities are boosting demand for various types of furniture, contributing to overall market growth. However, the highly fragmented nature of the market and the presence of numerous industry participants may pose challenges to market expansion.