China-based ecommerce and search engine company Himfr.com issued a statement predicting that the Chinese furniture industry will evolve in the next five to ten years towards a place of refinement.
China's furniture industry is still based on small and medium enterprises as the mainstay producers. The industry concentration is low, and there is not an industry player that holds more than 1% of the market share.
The forecast shows the furniture industry consolidating in the next five to ten years, eliminating small and medium enterprises, and leaving a small number of brands offering quality, service and size.
Throughout the past 10 years, the Chinese furniture industry has experienced rapid development, dominated by volume expansion with the international standards.
In the next decade, the Chinese furniture industry will enter a second period of rapid development with better production practices and efficiency, which will dramatically and negatively affect existing competition.
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