What are the prospects for the furniture industry in 2022?

In 2022, the development prospects of the furniture industry are affected by a variety of factors. According to the data of the National Bureau of Statistics, in the year 2022, the operating income of furniture manufacturing enterprises above designated size was 762.41 billion yuan, a year-on-year decline of 8.1%; total profit of 47.12 billion yuan was realized, a year-on-year increase of 7.9%. In addition, the characteristics of furniture products determine the important position of the furniture industry in the economy and society, along with the continuous development of the economy, the furniture industry is also developing rapidly.

From the point of view of market share, China's furniture industry has a low degree of concentration, CR3 in 2020 only 5.02%, CR5 only 6.32%, CR10 only 8.20%. Benefiting from the steady development of the national economy, the domestic furniture industry has a higher growth rate compared to other major consumer products and services retail industry.2021 January-August, the national furniture manufacturing industry revenue of 494.04 billion yuan, an increase of 21.3%.