Outdoor Furniture - Ivory Coast

Ivory Coast

In Ivory Coast, the revenue in the Outdoor Furniture market in 2024 is estimated to reach US$42.81m.
Looking ahead, the market is projected to experience an annual growth rate of 2.91% (CAGR 2024-2029).
When compared globally, in the United States emerges as the largest revenue generator in this segment, with an estimated revenue of US$18,450m in 2024.
In terms of per person revenues, in Ivory Coast is expected to generate US$1.45 in 2024.
Despite the country's warm climate, the demand for outdoor furniture in Ivory Coast has been steadily increasing due to the growing popularity of outdoor leisure activities.

Key regions: Brazil, China, France, India, Germany

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Analyst Opinion

The Outdoor Furniture market in Ivory Coast is experiencing significant growth and development in recent years.

Customer preferences: Customers in Ivory Coast have shown a growing interest in outdoor living and leisure activities. As the country's economy continues to improve, more people are investing in their homes and creating outdoor spaces for relaxation and entertainment. This has led to an increased demand for outdoor furniture that is durable, stylish, and comfortable. Customers are looking for furniture that can withstand the country's tropical climate and provide a comfortable seating and dining experience.

Trends in the market: One of the key trends in the Outdoor Furniture market in Ivory Coast is the growing popularity of outdoor lounging and dining areas. Customers are increasingly looking to extend their living spaces outside and create comfortable and inviting outdoor environments. This has led to a rise in the demand for outdoor sofas, lounge chairs, dining sets, and other furniture pieces that can transform an outdoor space into a cozy and stylish retreat. Another trend in the market is the focus on sustainability and eco-friendly materials. Customers in Ivory Coast are becoming more conscious of the environmental impact of their purchasing decisions and are seeking furniture made from sustainable materials such as recycled plastic, bamboo, and teak. Manufacturers and retailers are responding to this trend by offering a wider range of eco-friendly outdoor furniture options.

Local special circumstances: Ivory Coast's warm climate and abundant sunshine make it an ideal location for outdoor activities and gatherings. The country's cultural and social traditions also place a strong emphasis on outdoor entertaining and hospitality. This cultural preference for outdoor living has contributed to the growing demand for outdoor furniture in Ivory Coast.

Underlying macroeconomic factors: The Outdoor Furniture market in Ivory Coast is benefiting from several underlying macroeconomic factors. The country's economy has been growing steadily in recent years, leading to an increase in disposable income and consumer spending. As a result, more people are able to afford outdoor furniture and are willing to invest in creating comfortable and stylish outdoor spaces. In addition, Ivory Coast has a young and growing population, which is driving the demand for housing and home-related products. As more people move into new homes or renovate their existing ones, the demand for outdoor furniture is expected to continue to rise. Furthermore, the government of Ivory Coast has been actively promoting tourism and attracting foreign investment. This has led to an increase in the number of hotels, resorts, and other hospitality establishments, which in turn has created a demand for outdoor furniture for their outdoor spaces. The growth of the tourism industry is expected to further boost the Outdoor Furniture market in Ivory Coast. Overall, the Outdoor Furniture market in Ivory Coast is experiencing growth and development due to the increasing customer preferences for outdoor living, the popularity of outdoor lounging and dining areas, the focus on sustainability, and the underlying macroeconomic factors such as the growing economy and the government's efforts to promote tourism.

Methodology

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.