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The Market value of Furniture & Floor Coverings Segment in China (2020 - 2028, USD Millions)

Industry: Retail
Current: Market Sizing & Shares

The Furniture & Floor Coverings segment in China registered Market value of USD 166,304.68 Millions in 2023
The indicator recorded a historical growth (CAGR) of 1.99% between 2020 to 2023, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...

The Market value of Furniture & Floor Coverings Segment in China (2020 - 2028, USD Millions)

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Furniture & Floor Coverings Retail in China

The furniture & floor coverings market consists of the following two segments: furniture and floor coverings.

Furniture comprises retail sales of domestic furniture, including bedroom furniture, dining room furniture, home office furniture, living room furniture, kitchen furniture and bathroom furniture. It does not cover contract furniture. Floor coverings include retail (not trade) sales of carpets, mats, rugs, carpet tiles, hard tiles, laminates, final and wood flooring.

The Chinese furniture and floor coverings market has grown strongly overall in the historic period. Despite three years of strong growth, a decline in 2020 came as a result of the COVID-19 pandemic. Strong growth is expected in the coming years.

The Chinese market accounts for a significant share of the total Asia-Pacific market.

Category segmentation

Furniture is the largest segment of the furniture & floor coverings retail market in China, accounting for the majority share of the market's total value.

The Floorcoverings segment accounts for the remaining share of the market.

Geography segmentation

China accounts for the majority share of the Asia-Pacific furniture & floor coverings retail market value.

Japan accounts for the second-largest share of the Asia-Pacific market.

Who are the leading players?

IKEA is a holding company which, through its subsidiaries, is engaged in providing home furnishing products, solutions and services. The company’s business model includes franchising, range and supply, and industry.

JD is an online retailer, which sells electronics products and general merchandise products, including audio, video products and books. The company also offers home appliances, garments, shoes, accessories, computers, home merchandise, apparel, baby book, food, and others.

Red Star Macalline is engaged in the operation of a portfolio of shopping malls. The company operates owned/leased portfolio shopping malls, managed shopping malls, and the sale of merchandise and related services.

Alibaba is an operator of online and mobile marketplaces in retail and wholesale trade. The company is involved in logistics services business, retail and wholesale commerce businesses, and local consumer services business.