Outdoor Furniture - Lithuania

Lithuania

Highlights

In Lithuania, the revenue generated in the Outdoor Furniture market in 2024 amounts to US$22.21m.
It is projected that the market will experience an annual growth rate of 0.47% (CAGR 2024-2029).
When compared internationally, United States leads the way with revenue of US$18bn in 2024.
In terms of per capita revenue, each person in Lithuania generates US$8.25 in 2024.
"Lithuania's outdoor furniture market is booming, as the demand for durable and weather-resistant products increases among its nature-loving population."

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Lithuania is experiencing steady growth due to the increasing demand for outdoor living spaces and the growing trend of spending leisure time outdoors.

Customer preferences: Customers in Lithuania are increasingly valuing the quality and durability of outdoor furniture. They are looking for furniture that can withstand the harsh weather conditions and provide long-lasting comfort. There is also a growing preference for eco-friendly materials and sustainable production methods. Customers are willing to invest in high-quality outdoor furniture that can enhance the aesthetics of their outdoor spaces and provide a comfortable and relaxing environment.

Trends in the market: One of the key trends in the Outdoor Furniture market in Lithuania is the rise of multifunctional furniture. Customers are looking for furniture pieces that can serve multiple purposes and maximize the use of their outdoor spaces. This includes outdoor dining sets that can be transformed into lounging areas, modular furniture that can be rearranged to fit different spaces, and storage solutions integrated into the furniture design. Another trend in the market is the increasing popularity of outdoor kitchens and dining areas. Customers are now seeking to create complete outdoor living spaces that can be used for cooking, dining, and entertaining. This has led to a growing demand for outdoor dining sets, barbecues, and other accessories that can enhance the outdoor cooking and dining experience.

Local special circumstances: The climate in Lithuania is characterized by long and cold winters, which limits the use of outdoor spaces for a significant part of the year. However, during the summer months, the weather is mild and pleasant, creating a strong demand for outdoor furniture. Customers in Lithuania are eager to make the most of the relatively short summer season and create inviting outdoor spaces where they can relax and entertain.

Underlying macroeconomic factors: The growing economy in Lithuania has contributed to the increasing disposable income of consumers, allowing them to spend more on leisure activities and outdoor furniture. The rising middle class and changing lifestyles have also played a role in the growing demand for outdoor furniture. As more people are able to afford vacation homes or have access to communal outdoor spaces, the demand for outdoor furniture has increased. In conclusion, the Outdoor Furniture market in Lithuania is driven by customer preferences for high-quality and durable furniture, the trend towards multifunctional and outdoor dining spaces, the local special circumstance of a short summer season, and the underlying macroeconomic factors of a growing economy and changing lifestyles.

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.