Outdoor Furniture - Mexico

Mexico

Highlights

In Mexico, the revenue in the Outdoor Furniture market is projected to reach US$530.10m in 2024.
The market is anticipated to grow at an annual rate of 0.22% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with US$18bn in 2024.
In terms of per person revenues, in Mexico generates US$4.10 in 2024.
"Mexico's outdoor furniture market is booming, with a growing demand for high-quality, durable products that blend traditional Mexican craftsmanship with modern designs."

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Mexico is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Mexico have shifted towards spending more time outdoors and creating comfortable and stylish outdoor living spaces. With a pleasant climate and a growing middle class, more people are investing in outdoor furniture to enhance their outdoor living experience. Customers are looking for durable, weather-resistant, and low-maintenance furniture that can withstand the harsh Mexican climate. They also prefer furniture that is aesthetically pleasing and complements their outdoor spaces.

Trends in the market: indicate a growing demand for eco-friendly and sustainable outdoor furniture. Mexican consumers are becoming more environmentally conscious and are opting for furniture made from recycled materials or sustainably sourced wood. Additionally, there is a rising trend of modular and multifunctional outdoor furniture that allows for customization and flexibility in outdoor spaces. This trend is driven by the need for versatile furniture that can adapt to different outdoor activities and gatherings.

Local special circumstances: in Mexico contribute to the development of the Outdoor Furniture market. The country's rich cultural heritage and tradition of outdoor living, such as the use of courtyards and outdoor patios, play a significant role in driving the demand for outdoor furniture. Mexican consumers value outdoor spaces as an extension of their homes and often use them for socializing, entertaining, and relaxing. This cultural aspect creates a strong market for outdoor furniture in Mexico.

Underlying macroeconomic factors: also contribute to the growth of the Outdoor Furniture market in Mexico. The country's growing economy, rising disposable incomes, and increasing urbanization are key drivers of market expansion. As more people move to urban areas and live in smaller spaces, the demand for outdoor furniture that maximizes limited outdoor areas grows. Additionally, the tourism industry in Mexico plays a role in driving the market, as tourists often seek comfortable and stylish outdoor spaces during their visits. In conclusion, the Outdoor Furniture market in Mexico is growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As Mexican consumers prioritize outdoor living and seek durable and aesthetically pleasing furniture, the market continues to expand. The demand for eco-friendly and modular outdoor furniture, driven by environmental consciousness and the need for versatility, is also on the rise. mexico's rich cultural heritage and tradition of outdoor living, along with its growing economy and urbanization, contribute to the market's development.

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.