Outdoor Furniture - North Macedonia

North Macedonia

In North Macedonia, revenue in the Outdoor Furniture market reaches US$2.62m in 2024.
It is projected to experience an annual growth rate of 1.77% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, amounting to US$18,450m in 2024.
In relation to the country's total population, per person revenues amount to US$1.26 in 2024.
North Macedonia is experiencing a growing demand for outdoor furniture due to its beautiful landscapes and increasing interest in outdoor activities.

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

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Analyst Opinion

The Outdoor Furniture market in North Macedonia is experiencing significant growth and development.

Customer preferences: Customers in North Macedonia have shown a strong preference for outdoor furniture that is both functional and aesthetically pleasing. They are looking for furniture that can withstand the elements and is durable, while also adding beauty and style to their outdoor spaces. In addition, customers are increasingly interested in eco-friendly and sustainable options, such as furniture made from recycled materials or sourced from sustainable forests.

Trends in the market: One of the key trends in the Outdoor Furniture market in North Macedonia is the increasing popularity of outdoor living spaces. As people spend more time at home and prioritize outdoor activities, there is a growing demand for furniture that can create comfortable and inviting outdoor environments. This trend is driven by factors such as the desire for relaxation and entertainment, as well as the need for additional living space. Another trend in the market is the rise of online shopping. With the increasing availability of internet access and the convenience of online shopping, more customers are turning to online retailers to purchase outdoor furniture. This trend has been further accelerated by the COVID-19 pandemic, as people have been encouraged to stay at home and limit their in-person shopping experiences.

Local special circumstances: North Macedonia has a favorable climate for outdoor activities, with warm summers and mild winters. This encourages people to spend more time outdoors and invest in outdoor furniture to enhance their outdoor living spaces. Additionally, the country's natural beauty, including its mountains, lakes, and national parks, provides ample opportunities for outdoor recreation and relaxation, further driving the demand for outdoor furniture.

Underlying macroeconomic factors: The growing Outdoor Furniture market in North Macedonia can also be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As people have more money to spend, they are more likely to invest in outdoor furniture to improve their quality of life and create enjoyable outdoor spaces. Furthermore, the tourism industry in North Macedonia has been growing, attracting both domestic and international visitors. This has created a demand for outdoor furniture in hotels, resorts, and other tourist accommodations, as well as in public spaces such as parks and cafes. The tourism industry serves as a catalyst for the development of the Outdoor Furniture market, as it increases the need for outdoor seating and lounging options. In conclusion, the Outdoor Furniture market in North Macedonia is experiencing growth and development due to customer preferences for functional and aesthetically pleasing furniture, the increasing popularity of outdoor living spaces, the rise of online shopping, the country's favorable climate and natural beauty, as well as underlying macroeconomic factors such as economic growth and the thriving tourism industry.

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.