Outdoor Furniture - Haiti

Haiti

Highlights

The revenue generated in the Outdoor Furniture market in Haiti amounts to US$25.55m in 2024.
It is projected to experience an annual growth rate of 7.53% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$18bn in 2024.
In terms of per person revenues, US$2.15 is generated in Haiti in 2024.
Despite the challenges posed by limited resources and infrastructure, Haiti is experiencing an increase in demand for durable, weather-resistant outdoor furniture to cater to its vibrant outdoor culture.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Haiti is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Outdoor Furniture market in Haiti are shifting towards more durable and weather-resistant materials, such as aluminum and synthetic wicker, due to the country's tropical climate. Customers are also demanding more versatile and multi-functional outdoor furniture pieces that can be used for various purposes, such as dining, lounging, and entertaining. Additionally, there is a growing preference for eco-friendly and sustainable outdoor furniture options, reflecting a global trend towards more environmentally conscious consumer choices.

Trends in the market: include the rise of outdoor living spaces and the increasing popularity of outdoor entertaining. Haitian consumers are increasingly investing in creating outdoor spaces that serve as extensions of their homes, where they can relax, entertain guests, and enjoy the natural beauty of their surroundings. This trend is driving the demand for outdoor furniture that is both functional and aesthetically pleasing.

Local special circumstances: such as the country's rich cultural heritage and natural beauty, also play a role in the development of the Outdoor Furniture market in Haiti. Haitians have a strong appreciation for art and design, and this is reflected in their choices of outdoor furniture. Local artisans and craftsmen are creating unique and handcrafted outdoor furniture pieces that showcase traditional Haitian craftsmanship and design elements. This adds a distinct and authentic touch to the market, appealing to both domestic and international customers.

Underlying macroeconomic factors: such as economic growth and increasing disposable incomes, are contributing to the development of the Outdoor Furniture market in Haiti. As the country's economy continues to improve, more Haitians are able to afford outdoor furniture and invest in creating outdoor living spaces. Additionally, the growth of the tourism industry in Haiti is attracting international visitors who are interested in purchasing outdoor furniture as souvenirs or for their own homes. In conclusion, the Outdoor Furniture market in Haiti is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. With a focus on durable materials, versatile designs, and eco-friendly options, the market is catering to the needs and desires of Haitian consumers. The rise of outdoor living spaces, the popularity of outdoor entertaining, and the presence of local artisans contribute to the unique and vibrant nature of the market. As the country's economy continues to grow and disposable incomes increase, the Outdoor Furniture market in Haiti 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.