Outdoor Furniture - Colombia

Colombia

Highlights

In Colombia, the revenue in the Outdoor Furniture market reaches US$169.20m in 2024.
According to projections, the market is anticipated to experience an annual growth rate of 2.08% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, amounting to US$18bn in 2024.
In terms of per capita figures, each person in Colombia generates revenues of US$3.23 in 2024.
Colombia's growing middle class and increasing urbanization are driving a surge in demand for stylish and durable outdoor furniture.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Colombia is experiencing significant growth and development.

Customer preferences: Colombian customers are increasingly seeking outdoor furniture that combines both functionality and aesthetics. They are looking for furniture pieces that are durable and can withstand the country's diverse weather conditions, including strong sun exposure and heavy rains. Additionally, customers are showing a preference for furniture that is easy to maintain and clean. They value outdoor furniture that is lightweight and can be easily moved around, allowing for flexibility in arranging outdoor spaces. Furthermore, there is a growing demand for furniture that is eco-friendly and made from sustainable materials.

Trends in the market: One major trend in the Outdoor Furniture market in Colombia is the increasing popularity of modular furniture. Customers are drawn to modular furniture because it offers flexibility in terms of configuration and can be easily adapted to different outdoor spaces. This trend is driven by the growing trend of outdoor living and the desire to create personalized and versatile outdoor areas. Another trend is the rise of outdoor furniture with integrated technology features, such as built-in speakers or charging ports. This reflects the increasing integration of technology in all aspects of daily life, including outdoor spaces.

Local special circumstances: Colombia's unique geographical features and climate contribute to the development of the Outdoor Furniture market. The country's diverse landscapes, including mountains, jungles, and coastlines, provide a wide range of outdoor spaces for customers to furnish. Additionally, Colombia's tropical climate, with its high levels of humidity and rainfall, creates a need for outdoor furniture that is resistant to moisture and can withstand the elements. Furthermore, the country's growing tourism industry and the popularity of outdoor activities contribute to the demand for outdoor furniture.

Underlying macroeconomic factors: Colombia's growing middle class and increasing disposable income levels are key factors driving the growth of the Outdoor Furniture market. As more people have the means to invest in their homes and outdoor spaces, the demand for outdoor furniture increases. Additionally, the country's improving infrastructure and urban development projects are creating more opportunities for outdoor spaces, such as parks, restaurants with outdoor seating, and rooftop terraces. These developments further contribute to the demand for outdoor furniture. In conclusion, the Outdoor Furniture market in Colombia is experiencing growth and development driven by customer preferences for functional and aesthetically pleasing furniture, trends such as modular and technologically integrated furniture, local special circumstances including diverse landscapes and climate, and underlying macroeconomic factors such as a growing middle class and improving infrastructure. This presents opportunities for businesses in the outdoor furniture industry to cater to the evolving needs and preferences of Colombian customers.

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.