Custom furniture not only represents an attitude to life, but also reflects the owner's life style. Furniture is closely related to people's lives, and the home furnishing industry has always been a hot item in the market.
At present, customized furniture has become a new economic growth point in China's furniture industry.Data shows that the market size of China's custom furniture industry has expanded from 87.8 billion RMB in 2012 to 290.1 billion RMB in 2018, with a compound annual growth rate of more than 20%.The outbreak of the epidemic in 2020 has had a certain impact on the custom furniture industry in terms of production and customization, and the market size has declined. However, once the epidemic is over, the custom furniture industry is expected to continue to return to a period of rapid growth.
At present, customized furniture has become a new economic growth point in China's furniture industry.Data shows that the market size of China's custom furniture industry has expanded from 87.8 billion RMB in 2012 to 290.1 billion RMB in 2018, with a compound annual growth rate of more than 20%.The outbreak of the epidemic in 2020 has had a certain impact on the custom furniture industry in terms of production and customization, and the market size has declined. However, once the epidemic is over, the custom furniture industry is expected to continue to return to a period of rapid growth.
In recent years, the custom furniture industry has entered a stage of rapid growth. In 2018, the size of the custom furniture market was about 290.1 billion RMB, a year-on-year increase of 20.22%; in the past 7 years, the growth rate of the custom furniture market has remained above 20%. Domestic authoritative institutions predict that the scale of China's custom furniture market will reach 473 billion RMB in 2022.
In 2020, the total operating income of the nine listed companies of custom furniture was 42.137 billion RMB, a year-on-year increase of 6.61%. From 2016 to 2020, the compound growth rate of the operating income of the nine listed customized furniture companies was 17.88%.With more and more customized furniture brand companies successfully listed, the customized furniture industry has entered a period of rapid expansion of channels, categories and production capacity, and industry competition has intensified.At the same time, the high growth and high-quality profitability of the custom furniture industry has attracted the entry of upstream enterprises and finished furniture enterprises, and the sales channels have been diversified and diverted, and the industry growth rate has slowed down
At the same time, the high growth and high-quality profitability of the custom furniture industry has attracted the entry of upstream enterprises and finished furniture enterprises, and the sales channels have been diversified and diverted, and the industry growth rate has slowed down.
At the same time, the high growth and high-quality profitability of the custom furniture industry has attracted the entry of upstream enterprises and finished furniture enterprises, and the sales channels have been diversified and diverted, and the industry growth rate has slowed down.
With the improvement of enterprise production technology and the maturity of residents' furniture consumption concept, the scope of customized furniture has gradually expanded to the whole house field, such as kitchen, bedroom, study, and living room, covering cabinets, wardrobes, wooden doors, bathrooms and many other furniture categories.In order to meet the changes in market consumption trends, custom furniture brands have developed other categories through self-build or acquisition.For example, on the basis of cabinets and wardrobes, Oppai Home has extended to wooden doors, bathrooms and other products; Suofeiya Home Collection has entered the fields of cabinets and wooden doors on the basis of wardrobes.
At present, from the perspective of the entire custom furniture industry, Suofeiya Home Collection and Oppai Home have the highest market share in the wardrobe field, and they are their respective traditional advantageous products. Suofeiya Home Collection's market share is roughly in the range of 7%-12%, while Oppai Home is slightly lost, with a market share of roughly 4%-8%.
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