Rattan Furniture Market - 37% of Growth to Originate from APAC | Significant Increase in Demand for Outdoor Rattan Furniture to Boost Market | 17000+ Technavio Reports

NEW YORK, Feb. 16, 2022 /PRNewswire/ -- The "Rattan Furniture Market by End-user (Residential and Commercial) and Geography (North America, APAC, Europe, South America, and MEA) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for rattan furniture in APAC. Market growth in this region will be faster than the growth of the market in other regions. North America is another potential market for rattan furniture. The significant increase in the demand for rattan furniture from countries such as the US, Canada, and Mexico will facilitate the growth of the market in focus in North America over the forecast period.

The potential growth difference for the rattan furniture market between 2021 and 2026 is USD 870.19  million. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

• Market Driver - The key factor driving the global rattan furniture market growth is the significant increase in demand for outdoor rattan furniture. In 2020, the outbreak of COVID-19-induced lockdowns led to the closure of restaurants, bars, and workplaces that negatively impacted the 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 were forced to stay at home and work from home. Thus, the increase in demand from residential end-users due to the WFH culture is expected to drive the global rattan furniture market during the forecast period.
• Market Challenges - The key challenge to the global rattan furniture market growth is the fragmentation of the market due to the presence of multiple regional and international vendors. This high fragmentation of the market results in moderate barriers to new entrants, which increases the bargaining power of buyers and prompts vendors to opt for penetration pricing strategies. Furthermore, the local unorganized vendors offer rattan furniture at a low price compared to the prices offered by organized regional and global retailers. Such factors result in high price volatility, thereby leading to a significant increase in price wars, which affect the pricing strategy and the R&D investments of large global vendors. Thus, these factors are expected to challenge the rattan furniture market in the forecast period.

To learn about additional key drivers, trends, and challenges  - Read our FREE Sample Report right now!

Segmentation Analysis

The rattan furniture market report is segmented by End-user (Residential and Commercial) and Geography (North America, APAC, Europe, South America, and MEA). 

The rattan furniture market share growth by the residential segment will be significant for revenue generation. The growth of the segment is mainly driven by the increase in demand for multifunctional and multipurpose residential furniture comprising mainly foldable beds and extendable sofa sets, which, in turn, will drive the growth of the market during the forecast period. 

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Some Companies Mentioned

The rattan furniture market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.

• 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.
• TUUCI LLC
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Key Topics Covered:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Five forces analysis
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

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

• Overview

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
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.
• TUUCI LLC

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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