Outdoor Furniture - Togo

Togo

In Togo, the revenue in the Outdoor Furniture market reached US$162.50k in 2024.
It is projected to experience an annual growth rate of 0.84% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, with a value of US$18,450m in 2024.
In terms of per capita figures, in Togo generates revenues of 0.00 per person in 2024.
Togo's growing middle class is driving demand for outdoor furniture, with a preference for durable and locally-made pieces.

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

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Analyst Opinion

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

Customer preferences: Customers in Togo have shown a growing interest in outdoor living spaces and the desire to create comfortable and stylish outdoor environments. This has led to an increased demand for outdoor furniture that is both functional and aesthetically pleasing. Customers are looking for furniture that is durable, weather-resistant, and easy to maintain. They also value furniture that is versatile and can be easily moved and rearranged to accommodate different activities and gatherings. In addition, there is a growing trend towards eco-friendly and sustainable materials, with customers showing a preference for furniture made from recycled or natural materials.

Trends in the market: One of the key trends in the Outdoor Furniture market in Togo is the increasing popularity of outdoor dining sets. Customers are embracing the idea of dining al fresco and are investing in dining sets that can accommodate large gatherings and provide a comfortable dining experience. Another trend is the rise in demand for outdoor lounge furniture, such as sofas, lounge chairs, and coffee tables. Customers are looking to create outdoor living rooms where they can relax and entertain guests. Additionally, there is a growing interest in outdoor accessories such as umbrellas, cushions, and lighting, as customers seek to enhance the comfort and ambiance of their outdoor spaces.

Local special circumstances: Togo's warm climate and abundant natural beauty make it an ideal location for outdoor activities and gatherings. The country's stunning beaches, national parks, and outdoor recreational areas attract both locals and tourists, creating a demand for outdoor furniture to enhance these spaces. In addition, the growing middle class in Togo has more disposable income to spend on leisure activities and home improvement, leading to an increased demand for outdoor furniture.

Underlying macroeconomic factors: The growing economy in Togo has played a significant role in the development of the Outdoor Furniture market. With increasing GDP and disposable income, customers have more purchasing power to invest in outdoor furniture. The government's efforts to promote tourism and develop infrastructure have also contributed to the growth of the market, as more people are drawn to Togo's natural attractions and outdoor spaces. Furthermore, the availability of a wide range of outdoor furniture options from both local and international manufacturers has made it easier for customers to find products that meet their preferences and budget. In conclusion, the Outdoor Furniture market in Togo is experiencing a surge in growth and development due to customer preferences for comfortable and stylish outdoor living spaces. The increasing popularity of outdoor dining sets and lounge furniture, as well as the demand for outdoor accessories, reflects the desire to create inviting and functional outdoor environments. Togo's warm climate and natural beauty, coupled with the growing economy and government initiatives, have created a favorable environment for the market to thrive.

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.