Furniture Industry Analysis and Product Selection Guide
August 22, 2023
1. Furniture Industry Analysis and Product Selection Guide
Global furniture market: the US market ranks first, China ranks second, European countries and Japan and South Korea are in the forefront, Mexico ranks sixth, Russia ranks seventh, and Brazil ranks ninth.
High-end products are less affected by the market and maintain normal growth.
Commercial furniture still has room for growth, including salon furniture, nail salon furniture, restaurant furniture, bar furniture, and hotel furniture.
New materials will be the mainstream in the next few years, including furniture products made of velvet, lambswool, and some technological fabrics.
Multifunctional products are more popular in the mass market.
The recovery of commercial scenes + the growth of smart, environmentally friendly materials, and retro style demand.
Trend 1: Environmental-friendly materials and retro design.
Trend 2: Smart furniture to meet diverse needs.
Opportunity markets - Southeast Asia, Middle East, and South America.
Typical countries: Brazil, Colombia, the Philippines, Saudi Arabia, Indonesia.
Under the platform furniture industry, there are six main subcategories: civil furniture, commercial furniture, furniture components, furniture hardware, outdoor furniture, and children's furniture.
Civil furniture: Core transaction categories include sofas, beds, sofa beds, mattresses, dining chairs, and dining tables. (The US accounts for 18.67%, Canada 3.96%, Brazil 3.66%, the UK 3.23%, Australia 2.93%, Mexico 2.85%, France 2.69%, Italy 2.42%)
Commercial furniture: Popular products include office furniture, salon furniture, restaurant and hotel furniture. (The US accounts for 21.94%, Canada 3.48%, Brazil 3.13%, Mexico 2.98%, the UK 2.96%, Australia 2.57%, France 2.43%, the Philippines 1.86%)
Outdoor furniture: Outdoor furniture is an absolute blue ocean category in the European and American markets, especially in Europe and the US where living environments have large outdoor spaces. Garden products are in high demand, especially folding outdoor chairs, folding outdoor tables, lightweight hammocks, and outdoor hanging chairs. (The US accounts for 23.9%, Canada 4.82%, the UK 3.94%, Italy 3.76%, Mexico 3.28%, France 2.93%, Spain 2.64%, Germany 2.58%)
Children's furniture: In a stable development period, including children's beds and cribs.
Furniture hardware and accessories: Table legs, door handles. Additional functional hardware, wardrobe hardware, kitchen hardware.
