Outdoor Furniture - Guatemala

Guatemala

Highlights

In Guatemala, the revenue generated in the Outdoor Furniture market in 2024 is US$18.09m.
This market is projected to experience an annual growth rate of 2.70% (CAGR 2024-2029).
When compared globally, United States leads in revenue generation with US$18bn in 2024.
Looking at the per person figures, the revenue generated per individual in Guatemala amounts to US$0.99 in 2024.
Guatemala's outdoor furniture market is thriving, with a growing demand for locally crafted, sustainable pieces that showcase the country's rich cultural heritage.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Guatemala is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Guatemala are driving the growth of the Outdoor Furniture market. Guatemalans have a strong affinity for outdoor living and spending time in their gardens or patios. They value the opportunity to relax and entertain outdoors, and as a result, there is a high demand for outdoor furniture that is both functional and aesthetically pleasing. Customers in Guatemala also prioritize durability and resistance to weather conditions, as the country experiences a tropical climate with high humidity and frequent rain showers. Trends in the market also contribute to the growth of the Outdoor Furniture market in Guatemala. One major trend is the increasing popularity of outdoor living spaces, which has led to a rise in the number of homes with gardens or patios. This trend is driven by the desire for a healthier lifestyle and the recognition of the mental and physical health benefits of spending time outdoors. As a result, there is a growing demand for outdoor furniture to furnish these spaces and create comfortable and inviting outdoor environments.

Local special circumstances: in Guatemala further support the development of the Outdoor Furniture market. The country has a rich cultural heritage and a tradition of craftsmanship, which has resulted in the production of high-quality and unique outdoor furniture. Guatemalan artisans are known for their skill in working with natural materials such as wood, rattan, and wicker, and their products are highly sought after both domestically and internationally. This has created a niche market for handcrafted outdoor furniture, which adds value to the overall market.

Underlying macroeconomic factors: also play a role in the growth of the Outdoor Furniture market in Guatemala. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, more households are able to afford outdoor furniture and are willing to invest in creating comfortable and stylish outdoor living spaces. Additionally, the tourism industry in Guatemala is growing, attracting both domestic and international visitors who contribute to the demand for outdoor furniture in hotels, resorts, and restaurants. In conclusion, the Outdoor Furniture market in Guatemala is developing due to customer preferences for outdoor living, market trends towards outdoor spaces, local special circumstances such as craftsmanship, and underlying macroeconomic factors including economic growth and the tourism industry. This combination of factors is driving the demand for outdoor furniture and creating opportunities for growth in the market.

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.