The Furniture Market in China will be boosted by the rising income coupled with booming real estate sector, resulting in increased demand for furniture products.
The report begins with an introduction section, comprising the definition of furniture along with the key characteristics of the overall furniture industry. The report provides an illustration of the furniture industry framework, wherein it depicts the structure of the market, distinguishing between the organized and unorganized sector. The furniture market overview section provides a brief idea about the global scenario and the share of different regions in the global furniture market. This is followed by an overview of the furniture market in China, providing details on the domestic furniture market size in terms of market value and its growth. China’s online travel market is estimated to grow at a CAGR of 22.8% annually up to 2015. It also mentions the size of Guangdong furniture market with its growth prospects in 2012. Furthermore, a detailed illustration about the furniture industry in terms of growth in production volume, industry output value and industry sales output value is covered as well. Additionally, the report provides a description of major furniture production bases and the key furniture trading hubs in China.
The report provides detailed information about the exports and imports of furniture products covering country-wise import and export for the year 2011. Import and export data provided are in value terms.
Factors driving the growth of furniture market in China are also explained in detail. Healthy economy coupled with rising income is providing impetus to the growth in furniture market. China’s GDP is expected to grow at a CAGR of 11.68% during 2010-15. Booming real estate sector will lead to increasing demand for products from the furniture industry. Real estate market in China, comprising of residential, commercial and office building sales, has grown at a CAGR of 18.2%. Accelerating urbanization and changing consumer lifestyle will allow the players to increase their customer base. Furniture exhibitions along with strong distribution network provide sales opportunity for the furniture market. Furniture retail sales have grown at a CAGR of 25%. Changing demographics and rising tourism provide opportunities for the players to capitalize upon.
Industry players operating in China also face challenges which are impeding their development and growth. Import dependency for sourcing raw materials and tightening housing measures have been identified as major challenges. This has led to a decline in the growth rate of property sold, adversely impacting the county’s furniture demand. Increasing competition coupled with rising operating costs and the prevailing credibility crisis hampers the growth of the furniture industry.
The report also mentions the government standards adopted for supporting sustainable development of the overall furniture industry. It provides a detail illustration on the Chinese government’s old-for-new furniture subsidy program in 2012.
Emerging trends in the furniture market include rise in luxury furniture market, emergence of newer varieties of furniture, furniture malls, increasing presence of foreign retailers and growing online portals dedicated to furniture products for facilitating the overall functioning and development of the market.
This is followed by the mergers and acquisitions section, illustrating the recent mergers and acquisition activities that have taken place in the furniture market. This section includes the announced date, closing date, target, buyer/investor, seller and deal size.
The competition section outlays the competitive landscape of the furniture industry in China briefing about the domestic and foreign players existing in the market. This section provides a three dimensional analysis of domestic key players’ revenues, profits and market capitalization. The key domestic players are ranked according to the total income and net profit. The report also features brief profiles of major domestic and foreign players in the market and a snapshot of their corporation, financial performance along with the key financial ratios, business highlights and their product portfolio providing an insight into the existing competitive scenario.
Some of the key statistics or factors impacting the furniture market in China covered in the report includes furniture industry framework, share of the global furniture market, domestic market size, Guangdong furniture market size, furniture production volume, furniture industry output value, furniture industry sales output value, furniture production bases in China, top furniture producing provinces, furniture trading hubs in China, furniture export, furniture import, growth of GDP, urban disposable income, urban consumer spending, sales of buildings, floor space under construction, increasing rate of urbanization, share of international visitors in furniture expo, rising retail sales of furniture, young adult consumer base, growing tourism market in China, sawnwood imports, log imports, country-wise imports, floor space sold, list of government standards, share of transactions in online portals, expansion plans and list of furniture mall operators.
Key takeaway section summarizes the entire market in terms of opportunities, trends and challenges persisting in the furniture market in China.