Outdoor Furniture - Thailand

Thailand

Highlights

In Thailand, the revenue generated in the Outdoor Furniture market in 2024 amounts to US$178.40m.
It is projected that the market will experience an annual growth rate of 6.58% (CAGR 2024-2029).
When compared globally, United States leads in terms of revenue generation, with US$18bn in 2024.
Taking into account the total population figures, per person revenues of US$2.48 are generated in 2024.
Thailand's outdoor furniture market is booming, driven by the country's strong tourism industry and the growing popularity of outdoor living spaces.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Thailand has been experiencing steady growth in recent years. Customer preferences have shifted towards outdoor living spaces, leading to an increased demand for outdoor furniture. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: in Thailand have shifted towards creating outdoor living spaces. With a tropical climate and beautiful natural landscapes, Thai consumers are increasingly looking to enjoy their outdoor spaces. This has led to a growing demand for outdoor furniture that is both functional and aesthetically pleasing. Customers are seeking furniture that can withstand the elements and enhance their outdoor experience. As a result, there has been a rise in the popularity of materials such as teak, rattan, and aluminum, which are known for their durability and resistance to weather conditions. Trends in the market reflect the growing interest in outdoor living. Thai consumers are now investing in outdoor furniture sets that include a variety of pieces, such as dining tables, chairs, loungers, and umbrellas. These sets allow them to create a complete outdoor living space that can be used for dining, relaxation, and socializing. Additionally, there is a growing demand for outdoor accessories such as cushions, rugs, and lighting, which add comfort and style to outdoor areas.

Local special circumstances: in Thailand have also contributed to the development of the Outdoor Furniture market. The country's tourism industry plays a significant role, as it attracts a large number of visitors who are interested in experiencing the country's natural beauty. This has created a demand for outdoor furniture in hotels, resorts, and other hospitality establishments. Furthermore, the growing popularity of outdoor events and activities, such as garden parties and outdoor weddings, has also increased the demand for outdoor furniture.

Underlying macroeconomic factors: have also played a role in the development of the Outdoor Furniture market in Thailand. The country's economic growth has led to an increase in disposable income, allowing consumers to spend more on leisure and lifestyle products. Additionally, urbanization and population growth have resulted in a higher demand for housing, including properties with outdoor spaces. This has further fueled the demand for outdoor furniture. In conclusion, the Outdoor Furniture market in Thailand is developing due to customer preferences for outdoor living spaces, local special circumstances such as tourism and outdoor events, and underlying macroeconomic factors such as economic growth and urbanization. The market is expected to continue growing as more consumers seek to enhance their outdoor experiences and create stylish and functional outdoor living spaces.

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.