The Outdoor Furniture market in EAEU has been witnessing significant growth in recent years, driven by changing customer preferences, emerging trends, and favorable macroeconomic factors.
Customer preferences: In the EAEU region, customers have shown a growing inclination towards outdoor living and leisure activities. With increasing disposable incomes and a desire for a more relaxed lifestyle, consumers are investing in outdoor furniture to create comfortable and stylish outdoor spaces. The demand for outdoor furniture is also driven by the desire for socializing and entertaining guests in outdoor settings. Additionally, customers are increasingly seeking durable and weather-resistant furniture that can withstand the harsh climatic conditions in the region.
Trends in the market: One of the key trends in the Outdoor Furniture market in EAEU is the growing popularity of multifunctional furniture. Customers are looking for outdoor furniture that can serve multiple purposes, such as modular seating arrangements that can be easily rearranged to accommodate different group sizes or convertible tables that can be used for dining or as a coffee table. This trend is driven by the need for flexibility and space optimization in outdoor areas. Another trend in the market is the rising demand for eco-friendly and sustainable outdoor furniture. Customers in EAEU are increasingly conscious of the environmental impact of their purchasing decisions and are opting for furniture made from recycled materials or sustainably sourced wood. This trend is also influenced by the growing awareness of climate change and the need to reduce carbon footprints.
Local special circumstances: The Outdoor Furniture market in EAEU is influenced by the unique climatic conditions of the region. The extreme temperatures and varying weather patterns pose challenges for outdoor furniture manufacturers and customers alike. Manufacturers need to develop products that can withstand high heat, heavy rain, and cold winters. Customers, on the other hand, need to consider the durability and weather resistance of the furniture they purchase. As a result, there is a growing demand for outdoor furniture that is specifically designed for the EAEU climate.
Underlying macroeconomic factors: The growth of the Outdoor Furniture market in EAEU is supported by favorable macroeconomic factors. The region has experienced steady economic growth in recent years, leading to an increase in disposable incomes and consumer spending. This has resulted in higher demand for outdoor furniture as customers have more financial resources to invest in improving their outdoor living spaces. Additionally, the EAEU countries have a large population, providing a significant customer base for the outdoor furniture market. In conclusion, the Outdoor Furniture market in EAEU is witnessing growth due to changing customer preferences, emerging trends, favorable macroeconomic factors, and local special circumstances. Customers in the region are increasingly investing in outdoor furniture to create comfortable and stylish outdoor spaces, while also considering the durability and weather resistance of the furniture. The market is also driven by trends such as multifunctional furniture and the demand for eco-friendly and sustainable products. The unique climatic conditions of the region pose challenges and opportunities for manufacturers and customers. Overall, the Outdoor Furniture market in EAEU is set to continue its growth trajectory in the coming years.
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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