Home Office Furniture - China

China

In 2024, the revenue in the Home Office Furniture market in China amounts to €3.67bn.
It is projected that the market will experience an annual growth rate of 9.28% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching €17,360m in 2024.
In terms of per person revenues, in China generates €2.56 in 2024.
China's home office furniture market is booming, with a surge in demand for ergonomic and space-saving designs.

Key regions: Germany, Brazil, United Kingdom, Denmark, China

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Analyst Opinion

The Home Office Furniture market in China has been experiencing significant growth in recent years. Customer preferences have shifted towards more functional and ergonomic designs, driving the demand for innovative and high-quality home office furniture. This trend is fueled by the increasing number of people working remotely or setting up home offices, as well as the growing awareness of the importance of a comfortable and productive workspace.

Customer preferences: In China, customers are increasingly looking for home office furniture that combines style and functionality. They value ergonomic designs that prioritize comfort and support, as well as furniture that maximizes space utilization. With the rise of remote work and flexible working arrangements, there is a growing demand for multifunctional furniture that can adapt to different tasks and activities. Additionally, customers are also seeking environmentally-friendly options, such as furniture made from sustainable materials.

Trends in the market: One of the key trends in the Home Office Furniture market in China is the integration of technology. With the increasing reliance on digital devices for work, customers are looking for furniture that can accommodate their technological needs. This includes features such as built-in charging ports, cable management systems, and adjustable height desks to accommodate standing or sitting positions while working. Another trend is the rise of modular furniture, which allows customers to customize their workspace according to their specific needs and preferences.

Local special circumstances: China has a large population and a rapidly growing middle class, which has contributed to the increasing demand for home office furniture. The country also has a strong manufacturing base, allowing for the production of a wide range of furniture options at competitive prices. Additionally, the Chinese market is characterized by intense competition, with both domestic and international brands vying for market share. This has led to a focus on product differentiation and innovation to attract customers.

Underlying macroeconomic factors: China's robust economic growth and rising disposable incomes have played a significant role in the development of the Home Office Furniture market. The country's urbanization process has led to the construction of new residential and commercial spaces, creating opportunities for the furniture industry. Furthermore, the government's policies promoting entrepreneurship and innovation have encouraged more people to start their own businesses, contributing to the demand for home office furniture. In conclusion, the Home Office Furniture market in China is experiencing growth due to changing customer preferences, including a focus on functionality, ergonomics, and technology integration. The market is also influenced by local special circumstances, such as a large and growing middle class, intense competition, and a strong manufacturing base. The underlying macroeconomic factors, including economic growth, rising disposable incomes, and government policies, have further contributed to the development of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.