2024 China's furniture industry development outlook: furniture industry into the mature stage products tend to be personalized, intelligent.

1, China's furniture industry market size

After years of development, China's furniture industry has gradually embarked on the development route of industrialization, scale and branding. Since the beginning of the 21st century, the development of China's furniture industry has maintained a good momentum, and the operating income of the furniture industry above designated size has fallen slightly in the past two years. According to the operating income of the furniture industry above designated size announced by the Ministry of Industry and Information Technology, the operating income of China's furniture industry above designated size fluctuated from 2018 to 2022. In 2022, the operating income of China's furniture industry above designated size was 762.41 billion yuan, a year-on-year decrease of 5%. As of October 2023, the operating income of furniture manufacturing enterprises above designated size was 512.79 billion yuan. Based on this, it is preliminarily estimated that the operating income of furniture manufacturing enterprises above designated size in my country will reach 709.04 billion yuan in 2023, a year-on-year decrease of about 7%.

2, China's furniture industry life cycle.
According to the life cycle characteristics of China's furniture industry, China's furniture industry is currently in a mature stage. Most enterprises have maturely mastered the manufacturing technology and technology of various types of furniture, which can meet the needs of basic industrial scenes. The homogenization of products is relatively obvious, and the functions of furniture products provided by various enterprises are roughly the same. At present, China's furniture exports are gradually increasing, while imports are gradually declining, which reflects the gradual increase in the localization of Chinese furniture, while beginning to meet foreign demand. On the whole, the future market of China's furniture industry has certain development potential.

3, China's furniture manufacturing industry product development trend.
From the future development trend of China's furniture manufacturing industry, China's furniture manufacturing industry will gradually show the trend of product development around the new generation of consumer design, furniture environmental protection gradually paid attention to, customized furniture gradually popular, function-oriented intelligent products sought after by capital, furniture from popular consumption to personalized consumption and so on.

4. Consumption trend of Chinese furniture market
From the perspective of the consumption trend of China's furniture industry in the future, with the deepening of the concept of "light decoration, heavy decoration", China's future furniture consumption market will show the trend that owners attach importance to furniture matching to highlight cultural taste, furniture from popular consumption to personalized consumption, and children's furniture market has great potential.

5, China's furniture industry development prospects forecast.
With the development of the national economy and the improvement of residents' living standards, the people's housing level has gradually improved, consumers' demand for furniture has become stronger and stronger, and more and more attention has been paid to furniture requirements. China's furniture industry will continue to develop well. According to the preliminary forecast of the Prospective Industry Research Institute, China's furniture industry will grow year by year in 2024-2029. By 2029, with the gradual expansion of the industry scale, the operating income of Chinese furniture enterprises above designated size is expected to reach 871.6 billion billion yuan, with an average annual compound growth rate of 3.5.

Note: Enterprises above designated size refer to enterprises with operating income above 20 million.
For more research and analysis of this industry, please refer to the "China Furniture Industry Market Demand Forecast and Investment Strategic Planning Analysis Report" by the Prospective Industry Research Institute.