2017-2018 Global Furniture Market Report

- Jan 29, 2018-

According to "Global Furniture Market Report 2017-2018" published by CSIL of Milan Industrial Research Institute, in 2017, the global furniture consumption is expected to increase by 2.7%.

Judging from the growth rate of major regions in the world, the region with the fastest growth rate is still the Asia Pacific region. Although China's growth rate has slowed down, this does not affect the overall growth rate in the Asia-Pacific region. Relatively speaking, the prospects for growth in North America is better than in Europe. Worries still remain in South America. Judging from the current situation, the consumption of furniture in 2017 is still on the slowdown.

At the same time, the report also pointed out that per capita annual consumption of furniture in 2017 ranges from 21 U.S. dollars in South America to 185 U.S. dollars in North America, and the global annual per capita consumption is 72 U.S. dollars. According to the breakdown of geographical regions, annual furniture consumption by region in 2017 will show the following changes: South American countries may decline by 0.9%; the EU 28, Norway, Switzerland and Iceland should have 1% growth; In addition to the EU, the growth of Central and Eastern European countries outside Russia is slightly higher than the EU, 1.3%; incredible is the Middle East and Africa, furniture consumption rose 2.1%, second only to North America and Asia Pacific; North America And the Asia-Pacific region to become the two regions with the fastest growth rates, up 2.9% and 3.7% respectively. Based on 70 major countries and regions covering the world, maintaining a growth of 2.7%.

Over the past decade, the global furniture trade (based on the average of 70 major furniture exporters and 70 major furniture importers) has been growing at a faster rate than furniture production, and has taken up more of the global manufacturing and trade volume 1%.

In 2009, the global furniture trade totaled 94 billion U.S. dollars, a decrease of 19% over 2008. However, in the years since the economic crisis, the global furniture trade has been on an upward trend, reaching US $ 135 billion in 2014. Due to the impact of currency devaluation in some major economies on the U.S. dollar, the global furniture trade dropped 4% in 2015 to just US $ 129 billion. Overall, the total volume of global furniture trade in 2016 changed little. As for 2017 and 2018, due to the Brexit from the United Kingdom and the U.S. government's new international trade policy, there is a huge uncertainty in the global furniture trade.

CSIL studied 70 major countries with more than 90% of the world's furniture production. Their furniture production in 2015 was about 406 billion U.S. dollars. Among the 70 countries, China is the most important manufacturing country, accounting for 41% of the world's furniture production. Followed by the United States, Germany, Italy, India, Poland, Britain, Japan, Canada and South Korea. In the past decade, there has been a very interesting change in the world furniture landscape: from 2007 to 2016, production in the Asia Pacific region more than doubled, and changes in other regions were relatively small, especially in 2016. The world furniture production value More than half occur in the Asia Pacific region.

In recent years, the world's furniture imports from the point of view, the main furniture importer is the United States, Germany, Britain, France and Canada. In the past five years, the U.S. import growth has increased from 23 billion U.S. dollars in 2010 to 32 billion U.S. dollars in 2016, which is the main driving force behind the growth of international furniture trade.

The main furniture exporter is China, followed by Germany, Italy, Poland and Vietnam. However, we must see a new change. In 2016, the export of Chinese furniture decreased. On the other hand, Vietnam overtook the United States in 2015 and achieved a new leap forward, ranking fifth in the world.

From the essence of world furniture trade, most of the international furniture trade originates in China, Germany, Italy, Poland and Vietnam, and is exported to the United States, Germany, Britain, France and Canada, while China occupies an absolute position.