Upholstered furniture mainly refers to furniture with sponges and fabrics as the main body, mainly including sofas, soft beds, mattresses, bedside tables, coffee tables and other products that match beds and sofas. Among them, mattresses and sofas are the two most important types of upholstered furniture. The industrialized production of the global upholstered furniture industry began in Europe at the beginning of the 20th centuryWhat,The manufacturing capacity of the upholstered furniture industry has grown with the global processing and manufacturing technology The progress has been greatly improved, and the market demand has also continued to expand.
Upholstered furniture manufacturing is a labor-intensive industry. Affected by factors such as high labor costs in developed countries, the global upholstered furniture industry is continuing to develop with labor price advantages and sufficient raw material resources. China country transfer. At present, the main upholstered furniture manufacturers are China, the United States, Poland, India, Italy, and Germany.
China has become a major producer and consumer of upholstered furniture. my country’s modern upholstered furniture industry officially started in the 20th century80 early 1990s. In recent years, my country’s upholstered furniture industry has developed rapidly by assimilating foreign advanced upholstered furniture design technology and processing technology, and on the basis of giving full play to the advantages of raw material resources and labor costs. The output value of upholstered furniture in my country accounts for 46.4% of the world , accounting for 30.7% of the global upholstered furniture consumption.
Figure1 2012~2021Annual output and growth rate of upholstered furniture in China
The upholstered furniture industry has a long industrial chain, running through agriculture, animal husbandry, manufacturing and retail. The upstream mainly includes leather, wood, sponge and other raw material production industries, and the downstream mainly sells products to End consumer. Among them, leather is mainly used for covering the outer surface of upholstered furniture, mainly natural cowhide; wood is mainly used for the construction of the main structure of upholstered furniture, and the development of forestry planting directly affects the wood supply and procurement cost of the upholstered furniture industry; Sponge is polyurethane soft foam, which is a typical cushion material. It is mainly used in cushions, armrests, backrests and other parts of upholstered furniture to improve the softness and comfort of upholstered furniture. Sponge is made of polyurethane. As a derivative product in the process of petrochemical processing, sponges are greatly affected by fluctuations in oil prices. Downstream of upholstered furniture manufacturers mainly sell their products to end consumers through directly-operated stores and dealerships, and the demand of end consumers is mainly driven by factors such as household income and the development of the real estate industry.
2021Since the past few years, the price of raw materials for bulk commodities has risen sharply. The upholstered furniture industry itself has low added value of products, and the cost of raw materials accounts for a relatively high proportion, which is greatly affected by rising raw material prices. At the same time, under the policy of housing for housing and not speculation, the prosperity of the real estate industry has declined significantly, and the impact on the demand for upholstered furniture has also been significantly restrained. Under the double blow of rising costs and falling demand, the upholstered furniture industry has seen a significant reduction in overall profit margins, especially for small and micro enterprises that already rely on price advantages, and their living environment has been squeezed.
The American sofa Industry concentration is high, 2017 yearCR4 It will be reached51%,CR10 Achievable79% , head company
la-z-boy/Ashley/Market share of Man Wah Holdings Reached21%/11%/ 10% .
The competitive landscape of my country’s mattress industry is fragmented. Compared with developed countries, the concentration of my country’s mattress industry is significantly lower. The national mattress market is highly concentrated in the top mattress brands, while my country There are many companies in the mattress industry, mainly SMEs.
American former 5 big brand (CR5) Sealy, Simmons, Serta, Tempur, Sleep Number Total account69.40% market share. China’s mattress marketCR3 and CR8 The total market share is about 11.43%and18.66%, of which the top three are Xilinmen, Serta and Mousse respectively4.38%,3.88%and3.17 %.
With the improvement of residents’ consumption level and the vast demand for mattress replacement, Head companies with brand, channel, service and other advantages are expected to usher in an important development window in the next few years.
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