Outdoor Furniture - Cyprus

Cyprus

Highlights

In Cyprus, the revenue in the Outdoor Furniture market is recorded at US$40.41m in 2024.
It is projected that the market will experience an annual growth rate of 1.33% (CAGR 2024-2029).
When compared globally, United States leads in terms of revenue generation, with US$18bn in 2024.
This translates to per person revenues of US$31.85 in 2024, in relation to the total population figures.
Cyprus is experiencing a surge in demand for outdoor furniture, driven by its warm climate and growing tourism industry.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Cyprus is experiencing significant growth and development. Customer preferences for outdoor living spaces, as well as the increasing popularity of outdoor activities and leisure, are driving this trend. Additionally, local special circumstances and underlying macroeconomic factors contribute to the market's growth.

Customer preferences: for outdoor living spaces are a key driver of the Outdoor Furniture market in Cyprus. With a warm climate and beautiful natural landscapes, Cypriots have a strong affinity for outdoor living. Many residents prioritize creating comfortable and stylish outdoor spaces to relax and entertain guests. This has led to an increased demand for outdoor furniture that is both functional and aesthetically pleasing. Trends in the market reflect the growing popularity of outdoor activities and leisure in Cyprus. As more people seek to enjoy the country's natural beauty, there is a greater demand for outdoor furniture that can accommodate these activities. For example, there is a rising trend of outdoor dining sets and loungers that are designed for al fresco dining and sunbathing. Additionally, there is an increasing demand for outdoor furniture that can withstand the elements and provide durability over time.

Local special circumstances: also contribute to the development of the Outdoor Furniture market in Cyprus. The country's tourism industry plays a significant role in driving demand for outdoor furniture. Cyprus attracts a large number of tourists each year, many of whom are looking to enjoy the country's outdoor spaces. As a result, hotels, resorts, and other hospitality establishments invest in high-quality outdoor furniture to enhance their guests' experience.

Underlying macroeconomic factors: further support the growth of the Outdoor Furniture market in Cyprus. The country's improving economy and rising disposable incomes have led to increased consumer spending on leisure and entertainment. As a result, more individuals are investing in outdoor furniture to create inviting and comfortable outdoor spaces. Additionally, the construction industry in Cyprus is experiencing growth, leading to a higher demand for outdoor furniture for new residential and commercial developments. In conclusion, the Outdoor Furniture market in Cyprus is developing due to customer preferences for outdoor living spaces, the increasing popularity of outdoor activities and leisure, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, it is expected that there will be a greater variety of outdoor furniture options available to consumers in Cyprus.

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.