Rattan Furniture Market – 37% of Growth Will Come from APAC | Significant increase in demand for outdoor rattan furniture to drive the market
NEW YORK, February 16, 2022 /PRNewswire/ — The “Rattan Furniture Market by End User (Residential and Commercial) and Geography (North AmericaACPA, Europe, South Americaand MEA) – Forecast and Analysis 2022-2026report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proud to partner with over 100 Fortune 500 companies for over 16 years. 37% of market growth will come from APAC during the forecast period. China and Japan are the major markets for rattan furniture in APAC. Market growth in this region will be faster than market growth in other regions. North America is another potential market for rattan furniture. The significant increase in demand for rattan furniture from countries like the United States, Canadaand Mexico will facilitate the growth of the targeted market by North America over the forecast period.
The difference in potential growth of the Rattan Furniture market between 2021 and 2026 is $870.19 million. To get the exact annual growth variance and annual growth rate, Talk to our analyst.
Key Market Dynamics:
-
Market engine – The key factor driving the growth of the global rattan furniture market is the significant increase in demand for rattan outdoor furniture. In 2020, the outbreak of COVID-19 induced lockdowns led to the closure of restaurants, bars and workplaces, negatively impacting demand for outdoor furniture items such as rattan furniture. However, the need for outdoor rattan furniture in the residential category has increased dramatically due to the pandemic as people have been forced to stay home and work from home. Thus, increasing demand from residential end users owing to WFH cultivation is expected to drive the global rattan furniture market over the forecast period.
-
Market Challenges – The major challenge to the growth of the global rattan furniture market is the market fragmentation due to the presence of multiple regional and international suppliers. This strong market fragmentation results in moderate barriers to new entrants, which increases the bargaining power of buyers and encourages sellers to opt for penetration pricing strategies. Additionally, unorganized local vendors offer rattan furniture at low prices compared to prices offered by organized regional and global retailers. These factors lead to high price volatility, thus leading to a significant increase in price wars, which affect the pricing strategy and R&D investments of major global suppliers. Thus, these factors are expected to challenge the rattan furniture market during the forecast period.
To learn more about key drivers, trends and additional challenges – Read our FREE sample report now!
Segmentation analysis
The Rattan Furniture Market report is segmented by Final user (Residential and Commercial) and Geography (North AmericaACPA, Europe, South Americaand MEA).
The growth of the rattan furniture market share by the residential segment will be important for revenue generation. The growth of the segment is mainly driven by increasing demand for multifunctional and versatile residential furniture mainly comprising of folding beds and extendable sofa sets, which in turn will drive the growth of the market during the forecast period .
See our sample report for additional information on the contribution of all segments and regional opportunities in the report.
Some companies mentioned
The rattan furniture market is fragmented and vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.
-
To access more supplier profiles with their key offerings available with Technavio, Click here
Related reports:
furniture market in indonesia -The furniture market share in Indonesia is expected to grow by USD 3.29 billion from 2021 to 2026, at a CAGR of 12.08%. Download a free sample now!
Folding Furniture Market –The folding furniture market share is expected to increase by USD 4.44 billion from 2020 to 2025, and the market growth momentum will accelerate at a CAGR of 6.58%. Download a free sample now!
Rattan Furniture Market Scope |
|
Report cover |
Details |
Page number |
120 |
Year of reference |
2021 |
Forecast period |
2022-2026 |
Growth momentum and CAGR |
Accelerate at a CAGR of 3.36% |
Market Growth 2022-2026 |
$870.19 million |
Market structure |
Fragmented |
Annual growth (%) |
2.81 |
Regional analysis |
North America, APAC, Europe, South America and MEA |
Successful market contribution |
Asia-Pacific at 37% |
Main consumer countries |
United States, China, Germany, United Kingdom and Japan |
Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
Profiled companies |
Agio International Co., Barbeques Galore Aust Pty Ltd, Braxton Culler Inc., Fischer Mobel GmbH, Hartman Outdoor Products UK Ltd, Haworth Inc., Keter Plastic Ltd., Linya Group Ltd., Modi Workspace Pvt Ltd. and TUUCI LLC |
Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period. |
Personalization area |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
Main topics covered:
Abstract
Market landscape
-
Market ecosystem
-
Value chain analysis
Market sizing
Five forces analysis
Market segmentation by end user
-
Market segments
-
Comparison by end user
-
Residential – Market size and forecast 2021-2026
-
Commercial – Market size and forecast 2021-2026
-
Market opportunity by end user
Customer landscape
Geographic landscape
-
Geographic segmentation
-
Geographic comparison
-
North America – Market size and forecast 2021-2026
-
APAC – Market size and forecast 2021-2026
-
Europe – Market size and forecast 2021-2026
-
South America – Market size and forecast 2021-2026
-
MEA – Market size and forecast 2021-2026
-
Main leading countries
-
Market Opportunity by Geography
-
Market factors
-
Market challenges
-
Market trends
Supplier Landscape
-
Overview
-
Landscape disturbance
Vendor analysis
-
Suppliers Covered
-
Positioning on the supplier market
-
Agio International Co.
-
Barbecues Galore Aust Pty Ltd
-
Braxton Culler Inc.
-
Fischer Mobel GmbH
-
Hartman Outdoor Products UK Ltd
-
Haworth Inc.
-
Keter Plastic Ltd.
-
Linya Group Ltd.
-
Modi Workspace Pvt Ltd.
-
TUUCI SARL
appendix
About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 industry analysts, Technavio’s library of reports Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. Technavio’s exploitable market to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Show original content to download multimedia:https://www.prnewswire.com/news-releases/rattan-furniture-market—37-of-growth-to-originate-from-apac–significant-increase-in-demand-for-outdoor-rattan -furniture-to-boost-market–17000-technavio–rapports-301481767.html
SOURCETechnavio