Outdoor Furniture - Eastern Asia

Eastern Asia

Highlights

In the Eastern Asian country, the revenue generated in the Outdoor Furniture market amounts to US$6.66bn in 2024.
It is anticipated that the market will experience an annual growth rate of 7.79% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, United States leads in revenue generation, with an estimated amount of US$18bn in 2024.
In terms of per capita income, each person in the country generates revenues of US$4.07 in 2024.
In Eastern Asia, there is a growing trend towards incorporating traditional design elements into outdoor furniture, reflecting the region's rich cultural heritage.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Eastern Asia have shown a growing interest in outdoor living spaces and the desire to create a comfortable and stylish environment for outdoor activities. The increasing popularity of outdoor leisure and recreational activities has led to a higher demand for outdoor furniture. Additionally, the region's strong cultural emphasis on family and social gatherings has also contributed to the growing demand for outdoor furniture, as people seek to create inviting spaces for entertaining guests.

Trends in the market: One of the major trends in the Outdoor Furniture market in Eastern Asia is the shift towards eco-friendly and sustainable products. Customers are becoming more conscious of the environmental impact of their purchases and are actively seeking out furniture made from sustainable materials. This trend is driven by a combination of factors, including increasing awareness of environmental issues, government initiatives promoting sustainable practices, and the influence of global sustainability movements. Another trend in the market is the rising popularity of multifunctional outdoor furniture. Customers are looking for furniture that can serve multiple purposes and maximize the use of limited outdoor space. This includes furniture that can be easily transformed or adjusted to accommodate different activities, such as dining, lounging, or storage. The demand for multifunctional furniture is driven by the need to optimize space and create versatile outdoor living areas.

Local special circumstances: Eastern Asia is a region known for its diverse climate and weather conditions. This has a significant impact on the Outdoor Furniture market, as customers seek furniture that can withstand varying temperatures, humidity levels, and other environmental factors. Manufacturers and retailers in the region have responded to this demand by offering a wide range of weather-resistant and durable outdoor furniture options. Another special circumstance in Eastern Asia is the influence of traditional and cultural aesthetics on outdoor furniture design. Customers in the region often prefer furniture that reflects their cultural heritage and incorporates traditional design elements. This has led to the development of unique and distinctive outdoor furniture styles that blend traditional craftsmanship with modern functionality.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Eastern Asia have played a significant role in 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 has increased. Additionally, rapid urbanization and the development of high-rise apartments and condominiums have created a need for outdoor furniture that can fit smaller balconies and terraces. Furthermore, the rise of e-commerce and online shopping platforms has made it easier for customers to access a wide range of outdoor furniture options. This has contributed to the overall growth of the market, as customers can now browse and purchase outdoor furniture from the comfort of their homes. In conclusion, the Outdoor Furniture market in Eastern Asia is experiencing growth and development due to customer preferences for comfortable and stylish outdoor living spaces, the trend towards eco-friendly and multifunctional furniture, local special circumstances such as diverse climate and cultural aesthetics, and underlying macroeconomic factors such as the growing middle class and the rise of e-commerce.

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.