The Outdoor Furniture market in Estonia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: in Estonia have shifted towards outdoor living and leisure activities, leading to an increased demand for outdoor furniture. Estonians are increasingly embracing the concept of creating outdoor spaces that are an extension of their homes, where they can relax, entertain guests, and enjoy nature. This has resulted in a growing demand for comfortable and stylish outdoor furniture that can withstand the harsh Estonian climate.
Trends in the market: indicate a shift towards eco-friendly and sustainable outdoor furniture. Estonian consumers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking products that are made from renewable materials and have a minimal carbon footprint. This trend is also influenced by the global movement towards sustainability and the growing popularity of eco-friendly products worldwide.
Local special circumstances: in Estonia, such as the long and cold winters, have a significant impact on the outdoor furniture market. Estonians typically spend a significant amount of time indoors during the winter months, which means that outdoor furniture is not in use for a large portion of the year. As a result, durability and weather resistance are key factors that customers consider when purchasing outdoor furniture in Estonia. Manufacturers and retailers have responded to this by offering products that are specifically designed to withstand the harsh Estonian climate, such as weather-resistant materials and coatings.
Underlying macroeconomic factors: such as a growing economy and increasing disposable income, have also contributed to the development of the outdoor furniture market in Estonia. As the economy continues to grow, Estonians have more purchasing power and are willing to invest in outdoor furniture to enhance their outdoor living spaces. Additionally, the rise in tourism in Estonia has created a demand for outdoor furniture in hotels, restaurants, and other hospitality establishments, further driving the market growth. In conclusion, the Outdoor Furniture market in Estonia is developing due to changing customer preferences towards outdoor living, emerging trends in the market such as eco-friendliness, local special circumstances like the harsh climate, and underlying macroeconomic factors including a growing economy and increasing disposable income. As these factors continue to shape the market, it is expected that the Outdoor Furniture market in Estonia will continue to grow 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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