Outdoor Furniture - Ghana

Ghana

Highlights

In 2024, Ghana's revenue in the Outdoor Furniture market amounts to GHS US$23.47m.
It is projected that the market will experience an annual growth rate of 0.96% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with a total of US$18bn in 2024.
In terms of per capita revenue, in Ghana generates GHS US$0.68 per person in 2024.
Ghana's growing middle class is fueling a demand for outdoor furniture, with a preference for locally made, sustainable materials.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Ghanaians are increasingly embracing outdoor living and leisure activities, which has fueled the demand for outdoor furniture. With a growing middle class and rising disposable incomes, more people are investing in outdoor spaces such as gardens, patios, and balconies. They are seeking comfortable and stylish furniture options to create inviting outdoor environments for relaxation and entertainment.

Trends in the market: One of the key trends in the Outdoor Furniture market in Ghana is the shift towards durable and weather-resistant materials. Given the country's tropical climate, where heavy rains and intense sunlight are common, customers are looking for furniture that can withstand these conditions. Materials such as teak, aluminum, and synthetic wicker are gaining popularity due to their ability to resist moisture, UV rays, and other outdoor elements. Another trend in the market is the demand for multifunctional outdoor furniture. Ghanaians are increasingly looking for furniture pieces that can serve multiple purposes, such as outdoor dining sets that can be converted into lounging areas, or storage benches that can double as seating. This trend is driven by the desire to maximize the use of limited outdoor spaces and create versatile environments.

Local special circumstances: Ghana has a rich cultural heritage, and this is reflected in the design preferences of Ghanaians when it comes to outdoor furniture. Traditional Ghanaian motifs and patterns are often incorporated into the designs, adding a unique and local touch to the furniture. This appeals to customers who value their cultural identity and want to showcase it in their outdoor spaces.

Underlying macroeconomic factors: The growth of the Outdoor Furniture market in Ghana can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an expanding middle class with higher purchasing power. Additionally, urbanization and population growth have led to an increase in the number of households with outdoor spaces, driving the demand for outdoor furniture. Furthermore, the tourism industry in Ghana has been growing rapidly, attracting both domestic and international visitors. Tourists often seek outdoor experiences and accommodations, which has created a demand for outdoor furniture in hotels, resorts, and other hospitality establishments. This has further contributed to the growth of the market. In conclusion, the Outdoor Furniture market in Ghana is thriving due to the increasing customer preferences for outdoor living, the adoption of durable and multifunctional furniture, the incorporation of local design elements, and the underlying macroeconomic factors such as economic growth, urbanization, and tourism. As Ghanaians continue to embrace outdoor lifestyles, the market is expected to further expand 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 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.