The Outdoor Furniture market in Iraq has been experiencing significant growth in recent years.
Customer preferences: Customers in Iraq have shown a growing interest in outdoor living and leisure activities, which has contributed to the increasing demand for outdoor furniture. With the country's favorable climate and a desire to spend more time outdoors, consumers are seeking comfortable and stylish furniture options for their outdoor spaces. There is a growing trend towards creating outdoor living areas that resemble indoor spaces, with a focus on functionality and aesthetics. Customers are looking for durable and weather-resistant materials, such as aluminum and synthetic wicker, that can withstand the harsh Iraqi climate.
Trends in the market: One of the key trends in the Outdoor Furniture market in Iraq is the rising popularity of outdoor dining sets. As more people are opting to entertain and dine outdoors, there is a growing demand for dining sets that can accommodate larger groups of people. This trend is driven by the cultural preference for socializing and hosting gatherings, as well as the increasing number of restaurants and cafes that offer outdoor seating options. Another trend is the growing demand for multifunctional outdoor furniture. Customers are looking for furniture pieces that can serve multiple purposes and adapt to different outdoor spaces. This includes modular seating arrangements that can be rearranged to fit different layouts, as well as furniture that can be easily folded and stored when not in use. This trend is driven by the limited space available in many outdoor areas, as well as the desire for flexibility and convenience.
Local special circumstances: The Outdoor Furniture market in Iraq is influenced by several local special circumstances. The country's hot and dry climate, with long summers and limited rainfall, creates a need for furniture that can withstand extreme weather conditions. Additionally, the ongoing security situation in Iraq has led to an increase in the number of people staying at home and spending time in their outdoor spaces, which has further fueled the demand for outdoor furniture.
Underlying macroeconomic factors: The growth of the Outdoor Furniture market in Iraq can also be attributed to several underlying macroeconomic factors. The country's improving economy and rising disposable incomes have increased consumer purchasing power, allowing more people to invest in outdoor furniture. Additionally, the construction and real estate sectors in Iraq have been booming in recent years, leading to an increase in the number of residential and commercial properties with outdoor spaces. This has created a higher demand for outdoor furniture to furnish these spaces. Furthermore, the government's efforts to promote tourism and attract foreign investment have also contributed to the growth of the Outdoor Furniture market, as hotels, resorts, and other hospitality establishments require outdoor furniture to enhance their outdoor areas and attract guests.
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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