The Outdoor Furniture market in ASEAN is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in ASEAN countries are increasingly valuing outdoor living spaces and are seeking to create comfortable and stylish outdoor environments. With a growing middle class and rising disposable incomes, consumers are willing to invest in high-quality outdoor furniture that enhances their outdoor experiences. Additionally, there is a growing awareness of the health benefits of spending time outdoors, which has led to an increased demand for outdoor furniture that promotes relaxation and wellness.
Trends in the market: One of the key trends in the Outdoor Furniture market in ASEAN is the shift towards eco-friendly and sustainable products. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking furniture made from recycled or renewable materials. This trend is driven by a combination of consumer demand and government initiatives promoting sustainable practices. Another trend in the market is the increasing popularity of multifunctional outdoor furniture. Customers are looking for furniture that can serve multiple purposes and adapt to different outdoor activities, such as dining, lounging, and entertaining. This trend is driven by the limited space available in urban areas and the desire for flexible and versatile outdoor living spaces.
Local special circumstances: The diverse climate and geography of ASEAN countries also play a significant role in shaping the Outdoor Furniture market. With a mix of tropical and subtropical climates, customers in ASEAN countries require furniture that can withstand high humidity, heavy rain, and intense sunlight. This has led to a demand for outdoor furniture that is durable, weather-resistant, and easy to maintain. Furthermore, the cultural preferences and lifestyle habits of the local population influence the design and style of outdoor furniture in ASEAN. Traditional craftsmanship and natural materials are highly valued, and customers often prefer furniture that reflects the local culture and heritage.
Underlying macroeconomic factors: The Outdoor Furniture market in ASEAN is also influenced by underlying macroeconomic factors. Economic growth, urbanization, and population growth are driving the demand for outdoor furniture, particularly in emerging markets such as Indonesia, Thailand, and Vietnam. Additionally, the increasing popularity of tourism in the region has created opportunities for the hospitality sector, which drives the demand for outdoor furniture in hotels, resorts, and restaurants. In conclusion, the Outdoor Furniture market in ASEAN is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers in ASEAN countries seek to create comfortable and stylish outdoor living spaces, the demand for high-quality, eco-friendly, and multifunctional outdoor furniture is on the rise. The diverse climate and geography of the region, along with cultural preferences and lifestyle habits, further shape the market. Economic growth, urbanization, and the growing tourism sector also contribute to the market's growth.
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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