Key regions: Canada, United Kingdom, Brazil, Germany, India
The Kitchen & Dining Furniture market in ASEAN is experiencing steady growth, driven by changing customer preferences and underlying macroeconomic factors.
Customer preferences: Customers in ASEAN countries are increasingly valuing functionality and durability in their kitchen and dining furniture. They are looking for furniture that can withstand daily use and is easy to clean and maintain. Additionally, there is a growing demand for furniture that maximizes space utilization, especially in urban areas where living spaces are smaller. Customers are also seeking furniture that reflects their personal style and complements their overall home decor.
Trends in the market: One of the key trends in the Kitchen & Dining Furniture market in ASEAN is the rising popularity of modular and multi-functional furniture. Modular furniture allows customers to customize their kitchen and dining spaces according to their specific needs and preferences. This trend is driven by the need for flexibility and adaptability in smaller living spaces. Multi-functional furniture, such as dining tables with built-in storage or extendable features, is also gaining traction as it provides practical solutions to space constraints. Another trend in the market is the increasing demand for eco-friendly and sustainable furniture. Customers in ASEAN countries are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials, such as bamboo or reclaimed wood. They are also looking for furniture that is manufactured using eco-friendly production processes and does not contain harmful chemicals.
Local special circumstances: The Kitchen & Dining Furniture market in each ASEAN country is influenced by local cultural and lifestyle factors. For example, in Indonesia and Malaysia, where communal dining is common, there is a higher demand for larger dining tables and chairs that can accommodate larger groups of people. In contrast, in Singapore and Thailand, where smaller households are more prevalent, there is a greater demand for compact and space-saving furniture.
Underlying macroeconomic factors: The steady economic growth and rising disposable incomes in ASEAN countries are driving the growth of the Kitchen & Dining Furniture market. As people's incomes increase, they are willing to invest more in their homes and upgrade their furniture. Additionally, the rapid urbanization in ASEAN countries is leading to a higher demand for kitchen and dining furniture as more people move into urban areas and set up their homes. In conclusion, the Kitchen & Dining Furniture market in ASEAN is experiencing growth due to changing customer preferences, including the demand for functional and durable furniture, as well as the increasing popularity of modular and eco-friendly options. Local cultural and lifestyle factors also play a role in shaping the market, while underlying macroeconomic factors, such as economic growth and urbanization, contribute to the overall expansion of the market.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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