Where are the development opportunities for the home furnishing industry in 2022?(1)

The global furniture market has entered a stage of steady growth. According to the forecast of the China Business Industry Research Institute, the output value of the global furniture market will reach 556.1 billion US dollars in 2022. At present, among the major producing and consuming countries in the global furniture industry, China accounts for 98% of its own production and sales. In contrast, in the United States, nearly 40% of the furniture is imported, and only 60% is produced by itself. It can be seen that in the United States, Europe and other countries or regions with a relatively high degree of market openness, the furniture market capacity is huge, and the export potential of my country's furniture products still has unlimited possibilities.

As a labor-intensive industry, the home furnishing industry has its own low technical barriers, coupled with the sufficient supply of upstream raw materials and stable prices, resulting in a large number of Chinese home furnishing enterprises, scattered industries and low industry concentration. Looking back on the market share of the furniture industry in 2020, the leading enterprises in the industry accounted for no more than 3%, and the market share of the first-ranked OPPEIN home furnishing was only 2.11%.