Product Code: ETC009762 | Publication Date: Jun 2023 | Updated Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Japan Furniture Market registered a decline of -0.83% in value shipments in 2022 as compared to 2021 and an increase of 1.33% CAGR in 2022 over a period of 2017. In Furniture Market Japan is becoming less competitive as HHI index in 2022 was 3303 while in 2017 it was 3082. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Japan has reportedly relied more on imports to meet its growing demand in Furniture Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Furniture Market in 2022 was 44.79 while in 2017 it was 56.3. China, Vietnam, Malaysia, Indonesia and Thailand were among the top players of the market in 2022, where China acquired the largest market share of 51.74% with a shipment value of 1100.52 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 50.04% with the shipment value of 991.27 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
The Japan furniture market is expected to reach a value of around US$127.39 billion by 2026, growing at a CAGR of 3.9% during the forecast period (2020-2026). The demand for furniture in Japan is driven by factors such as rising urbanization, increasing disposable incomes and changing lifestyle trends which have led to higher investments in home decor and office furnishings. Furthermore, with the rise of e-commerce platforms, customers are more likely to purchase furniture online with convenience and attractive offers from different sellers.
In addition, environmental concerns among consumers have resulted in an increase in purchases of eco-friendly products such as recycled wood items or bamboo pieces that are becoming popular alternatives to conventional materials. This trend has also been supported by government initiatives promoting green construction practices which has further increased the popularity of environmentally friendly materials used in furniture manufacturing processes like sustainable timber resources or other bio-based components.
Moreover, manufacturers are introducing new product designs like modular/sectionals sofas and customized bedroom sets along with advanced technology features such as automated recliners or sleep monitoring systems present under mattresses to keep up with consumer preferences. As a result, companies providing value added services including easy installation options for its customers can benefit from this trend leading them towards achieving greater profitability margins through enhanced customer satisfaction levels over time
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Japan Furniture Market Overview |
3.1 Japan Country Macro Economic Indicators |
3.2 Japan Furniture Market Revenues & Volume, 2019 & 2026F |
3.3 Japan Furniture Market - Industry Life Cycle |
3.4 Japan Furniture Market - Porter's Five Forces |
3.5 Japan Furniture Market Revenues & Volume Share, By Material Types, 2019 & 2026F |
3.6 Japan Furniture Market Revenues & Volume Share, By Applications, 2019 & 2026F |
4 Japan Furniture Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Japan Furniture Market Trends |
6 Japan Furniture Market, By Types |
6.1 Japan Furniture Market, By Material Types |
6.1.1 Overview and Analysis |
6.1.2 Japan Furniture Market Revenues & Volume, By Material Types, 2016 - 2026F |
6.1.3 Japan Furniture Market Revenues & Volume, By Plastic, 2016 - 2026F |
6.1.4 Japan Furniture Market Revenues & Volume, By Wood, 2016 - 2026F |
6.1.5 Japan Furniture Market Revenues & Volume, By Metal, 2016 - 2026F |
6.1.6 Japan Furniture Market Revenues & Volume, By Other, 2016 - 2026F |
6.2 Japan Furniture Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Japan Furniture Market Revenues & Volume, By Residential, 2016 - 2026F |
6.2.3 Japan Furniture Market Revenues & Volume, By Commercial, 2016 - 2026F |
7 Japan Furniture Market Import-Export Trade Statistics |
7.1 Japan Furniture Market Export to Major Countries |
7.2 Japan Furniture Market Imports from Major Countries |
8 Japan Furniture Market Key Performance Indicators |
9 Japan Furniture Market - Opportunity Assessment |
9.1 Japan Furniture Market Opportunity Assessment, By Material Types, 2019 & 2026F |
9.2 Japan Furniture Market Opportunity Assessment, By Applications, 2019 & 2026F |
10 Japan Furniture Market - Competitive Landscape |
10.1 Japan Furniture Market Revenue Share, By Companies, 2019 |
10.2 Japan Furniture Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |