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.

The story continues

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

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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

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