Japan Home Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The COVID-19 pandemic has had a major impact on home furniture markets, and has also seriously affected the sales of home firniture. COVID-19 caused supply-chain disruptions. And when consumers couldn’t find their preferred product at their preferred retailer, they changed their shopping behavior: many consumers have tried a different brand or shopped at a different retailer during the crisis. Value, availability, and quality were the main drivers for consumers trying a different brand.

Construction activity has expanded across the country, resulting in the expansion of residential real estate and a large increase in the number of families. As a result, demand for furniture such as living room and bedroom furniture is increasing. The country is also seeing a growth in demand for office furniture goods as a result of expanding office space utilisation, which is boosting market demand. When it comes to starting a family, Japan is seeing an increase in demand for exquisite and long-lasting high-end solid wood furniture, which is fueling market growth.

Imported furniture's market share in Japan has increased dramatically in recent years. Wooden furniture accounts for the majority of imported furniture, followed by furniture accessories, metal furniture, plastic furniture, and so on. China has surpassed the United States as Japan's top furniture importer, accounting for approximately 40% of all Japanese wooden furniture imports. Thailand, Vietnam, Malaysia, the Philippines, Indonesia, Germany, and Italy are some of the other furniture importers in Japan.

Key Market Trends

Expansion of Single Person Homes

The future of the furniture manufacturing industry in Japan is heavily influenced by housing patterns. The present growing trend in the country is an increase in the number of one-person homes, which is one of the key drivers influencing furniture demand in the country, driven by changes in culture and lifestyles.

Single-person homes are the fastest-growing household type in Japan, and they may soon surpass them as the country's largest. Because singles use less room, they can save money on rent and home construction. Furniture must be both aesthetically beautiful and functional due to the restricted area. Storage cabinets are popular among singles in tiny houses, and demand for a variety of other movable furniture may expand. Japanese furniture market sectors have the potential to develop, particularly for low-cost goods meant for singles in small spaces, such as drawers, cabinets, fold-away dining tables, and dining chairs, which is predicted to boost demand for furniture in the nation.

Living Room and Dining Room Furniture Segment

Furniture for the living room and dining room, as well as bedroom and kitchen furniture, is in great demand in Japan at the moment. With new housing units being created around the country and a rise in per capita disposable income on consumers, the demand for home furnishings is increasing.

This expansion is also fueled by an increase in the number of household units and population migration. In the country, household expenditure on dining-room furniture is likewise pretty consistent, but minor when compared to spending on bedroom furniture. China, Vietnam, and other Southeast Asian countries supply virtually all of Japan's bedroom furniture.

Competitive Landscape

The report covers major international players operating in the Japan home furniture market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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