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2018 Sale Proceeds of China’s Furniture Market Will Exceed RMB 300 Billion

According to database of ASKCI CONSULTING: from January to April 2018, the sales-production ratio in the furniture manufacturing industry nationwide was 98.2%, and the export delivery value was RMB 56.22 billion. From January to April, the main business incomes in the furniture manufacturing industry were RMB 254.24 billion, and the gross profits were RMB 13.62 billion.

 

From 2012 to 2016, the sale proceeds of China’s furniture and home accessory industry were increased to RMB 278.1 billion from RMB 160.4 billion, with the compound annual growth rate of about 14.7%, and it is expected that the sale proceeds of China’s furniture and home accessory industry in 2018 will exceed RMB 300 billion and reach RMB 321.8 billion.

 

From 2012 to 2016, benefiting from strong economic growth and urbanization acceleration in China, the furniture and home accessory industry developed steadily. The urbanization rate in China was increased to 58.5% in 2017 from 52.6% in 2012, and a lot of rural people migrated to the cities so as to push up the demands for the furniture and home accessories. It is expected that China’s furniture and home accessory industry will benefit from the continuous urbanization progress and prosperous real estate market and keep growing.

 

As people’s consumption demand changes to the diversified rational consumption, demands for the costly furniture, individualized and customized furniture are gradually increasing, and the intelligence, refinement, diversification and individualization have been the market mainstream.

 

(Source: JJGLE.COM)