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Outdoor Furniture - Bulgaria

Bulgaria
  • In Bulgaria, the revenue in the Outdoor Furniture market reached US$94.58m in 2024.
  • It is projected to experience an annual growth rate of 3.17% (CAGR 2024-2029).
  • Comparatively, United States generates the highest revenue in this market segment, amounting to US$18bn in 2024.
  • When considering the population, the per person revenue in Bulgaria for 2024 is US$14.29.
  • Bulgaria's outdoor furniture market is experiencing a surge in demand as more people are investing in their outdoor spaces for relaxation and entertainment purposes.

Definition:

The Outdoor Furniture segment focuses on the types of furniture which are commonly found in the garden, patio, and/or on the terrace. These products are typically made from durable materials such as metal, wood, or plastic and are designed to withstand various weather conditions while providing comfort and style.

Additional Information:

The Outdoor Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

In-Scope

  • Bamboo seats
  • Patio chairs and tables
  • Outdoor bars

Out-Of-Scope

  • Hot tubs and saunas
  • Gardening equipment
  • Outdoor lighting
  • Camping equipment
Outdoor Furniture: market data & analysis - Cover

Market Insights report

Outdoor Furniture: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Outdoor Furniture market in Bulgaria has been experiencing significant growth in recent years.

    Customer preferences:
    Customers in Bulgaria have shown a strong preference for outdoor furniture that is both functional and aesthetically pleasing. They are looking for furniture that can withstand the harsh weather conditions in the country, including hot summers and cold winters. Additionally, customers are increasingly seeking furniture that is environmentally friendly and made from sustainable materials.

    Trends in the market:
    One of the key trends in the Outdoor Furniture market in Bulgaria is the growing popularity of multi-functional furniture. Customers are looking for furniture that can serve multiple purposes, such as outdoor sofas that can be converted into beds or dining tables that can be extended to accommodate more people. This trend is driven by the limited space available in many outdoor areas, particularly in urban areas. Another trend in the market is the increasing demand for outdoor furniture with built-in technology features. Customers are looking for furniture that can be connected to their smartphones or other devices, allowing them to control features such as lighting or temperature. This trend is driven by the growing integration of technology into all aspects of daily life.

    Local special circumstances:
    Bulgaria has a unique climate that poses challenges for outdoor furniture. The country experiences hot summers with high temperatures, as well as cold winters with snow and freezing temperatures. This requires outdoor furniture to be able to withstand extreme weather conditions. Additionally, Bulgaria has a growing tourism industry, with many visitors coming to enjoy the country's natural beauty. This has led to an increased demand for outdoor furniture in hotels, resorts, and other tourist destinations.

    Underlying macroeconomic factors:
    The growth of the Outdoor Furniture market in Bulgaria can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has increased disposable income levels and consumer spending. This has allowed more people to invest in outdoor furniture for their homes or businesses. Additionally, Bulgaria has a growing middle class with changing lifestyles. As people spend more time at home and in their outdoor spaces, there is a greater demand for high-quality outdoor furniture that can enhance their living experience. Furthermore, the government has been promoting tourism as a key driver of economic growth, which has led to increased investment in hotels and other tourist facilities. This has created a demand for outdoor furniture in these establishments. In conclusion, the Outdoor Furniture market in Bulgaria is developing due to customer preferences for functional and aesthetically pleasing furniture, as well as the growing popularity of multi-functional and technologically advanced products. The unique climate and the country's growing tourism industry also contribute to the market's growth. Additionally, underlying macroeconomic factors such as steady economic growth and a growing middle class with changing lifestyles have further fueled the development of the market.

    Methodology

    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.

    Consumer

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    Outdoor Furniture: market data & analysis - BackgroundOutdoor Furniture: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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