Outdoor Furniture - Bhutan

Bhutan

Highlights

In Bhutan, the revenue generated in the Outdoor Furniture market is estimated to reach US$702.40k in 2024.
It is projected to experience an annual growth rate of 2.58% (CAGR 2024-2029).
When compared globally, United States dominates the market, generating a revenue of US$18bn in 2024.
Taking into account the country's population, the per person revenue in Bhutan is approximately US$0.89 in 2024.
Bhutan's outdoor furniture market is thriving with a strong emphasis on sustainable materials and traditional craftsmanship.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Bhutan is experiencing significant growth due to a variety of factors. Customer preferences for outdoor living spaces, a growing tourism industry, and an increasing focus on environmental sustainability are all contributing to the development of this market.

Customer preferences: in Bhutan are shifting towards creating comfortable and functional outdoor living spaces. As people spend more time at home, they are looking to maximize their outdoor spaces for relaxation and entertainment. This has led to a demand for high-quality outdoor furniture that is durable, weather-resistant, and aesthetically pleasing. Customers are also seeking furniture that is versatile and can be easily moved and rearranged to suit their needs. The tourism industry in Bhutan is booming, with a growing number of domestic and international tourists visiting the country each year. As a result, there is an increasing demand for outdoor furniture in hotels, resorts, and other hospitality establishments. These businesses are looking to create inviting outdoor spaces for their guests to enjoy, which has led to a surge in the purchase of outdoor furniture. Bhutan is known for its commitment to environmental sustainability and the preservation of its natural resources. This focus on sustainability extends to the outdoor furniture market, with customers seeking eco-friendly and ethically sourced products. There is a growing demand for furniture made from sustainable materials such as bamboo, teak, and recycled plastics. Additionally, customers are looking for furniture that is produced using environmentally friendly manufacturing processes. In addition to these customer preferences, there are several local special circumstances that are driving the growth of the Outdoor Furniture market in Bhutan. The country's unique geography and climate make outdoor living spaces an important part of Bhutanese culture. The availability of abundant natural resources such as wood and bamboo also contributes to the popularity of outdoor furniture. Underlying macroeconomic factors are also supporting the development of the Outdoor Furniture market in Bhutan. The country has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has allowed more people to invest in outdoor furniture and create comfortable and inviting outdoor spaces. In conclusion, the Outdoor Furniture market in Bhutan is growing due to customer preferences for outdoor living spaces, the booming tourism industry, a focus on environmental sustainability,

Local special circumstances: and

Underlying macroeconomic factors:. As Bhutan continues to develop and its economy grows, the demand for outdoor furniture is expected to increase further.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.