The development situation and development prospect analysis of China's sofa market

The development situation and development prospect analysis of China's sofa market

The development of China's sofa industry has maintained a good momentum, and China is also the world's largest producer of upholstered furniture. As of the end of 2020, the total number of sofa consumption sets in China was 18.43 million sets, an increase of 1.15 million sets over the previous year, an increase of 6.66% year-on-year; in the future, the sofa consumption market will maintain a relatively stable and relatively high-speed growth.
Consumption upgrades drive the shortening of the secondary renovation period, and the huge stock housing refurbishment market promotes the demand for home renovation. As of the end of 2020, China's stock of housing and sofa consumption sets of 8.4 million sets, an increase of 1 million sets over the previous year, an increase of 13.51% year-on-year; the proportion of the number of secondary decoration sets will further increase in the future.
As the real estate market started from a state of rapid development and gradually returned to a stable state, the number of newly-decorated sofas continued to increase. As of the end of 2020, the number of newly decorated sofas consumed in China was 10.03 million sets, an increase of 140,000 sets over the previous year, an increase of 1.42% year-on-year; the market demand for newly decorated sofas will continue to grow in the future.
Due to the soaring prices of various materials and the rising cost of sofas, the average ex-factory unit price of sofas has increased year by year. As of the end of 2020, the average ex-factory unit price of sofas in China is 3528 yuan, an increase of 78 yuan over the previous year and an increase of 2.26% year-on-year; the price of sofas will show a further growth trend in the future.