The global restaurant furniture market to grow at a CAGR of 4.72% during the period 2017-2021.
Global Restaurant Furniture Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the value sales of furniture products.
According to the report, one of the major drivers for this market is Growing millennial population and pub culture. There has been a constant evolution in restaurant and pub culture, mostly due to the increase in the millennial population who frequently visit such places. Pubs and restaurants cater to changing consumer preferences and lifestyle choices. Millennials are health conscious and interested in gourmet and good quality cuisine and beverages. They prefer going to pubs where the ambiance is unique and has an aesthetic appeal. Most pubs these days are theme based, which attract the millennial generation. The increase in the number of pubs will drive the growth of the restaurant furniture market.
The latest trend gaining momentum in the market is Greater use of eco-friendly furniture. The awareness of eco-friendly and green furniture, especially in the Americas and Europe, has increased. It is also being witnessed among the consumers of developing countries such as China. Consumers are currently showing more preference toward eco-friendly restaurant furniture such as those made of Moso bamboo, which is harder and more durable than other materials. These materials allow designers to obtain an aesthetic look for their products.
Further, the report states that one of the major factors hindering the growth of this market is Long product replacement cycle. Consumers purchase restaurant furniture usually when setting up a restaurant, cafe, or pub. Nowadays, modern interior design trends play a vital role in the purchase decisions of customers. Most restaurant furnishings, especially restaurant furniture, are meant for long-term use and generally do not require frequent replacement. Also, most restaurant furniture products are expensive and are considered to be a one-time expenditure by consumers. Branded restaurant furniture and furnishing products are durable and of superior quality.
Inter IKEA Systems
Homecrest Outdoor Living
Other prominent vendors
Ashley Furniture Industries
Otto (Crate & Barrel)
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by distribution channel