Outdoor Furniture - Cambodia

Cambodia

In Cambodia, the revenue in the Outdoor Furniture market for the year 2024 is estimated to be €7.21m.
According to projections, the market is anticipated to experience an annual growth rate of 4.84% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, amounting to €16,940m in 2024.
In terms of per capita figures, the revenue generated per person in Cambodia in 2024 is approximately €0.42.
Despite its growing tourism industry, Cambodia still lacks a strong demand for outdoor furniture due to cultural preferences for indoor living spaces.

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

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Región

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Moneda

Analyst Opinion

The Outdoor Furniture market in Cambodia has been experiencing steady growth in recent years. Customer preferences have shifted towards outdoor living spaces, leading to an increased demand for outdoor furniture. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: in Cambodia have evolved to prioritize outdoor living spaces. As the country's economy has grown, so has the disposable income of its citizens. This has led to an increased focus on leisure and recreation, with many individuals investing in outdoor spaces for relaxation and entertainment. As a result, there has been a growing demand for outdoor furniture that is both functional and aesthetically pleasing. Customers in Cambodia are looking for durable and weather-resistant furniture that can withstand the country's tropical climate. Trends in the market indicate a shift towards more modern and contemporary designs. Customers are increasingly seeking furniture that reflects their personal style and complements the overall aesthetics of their outdoor spaces. This has led to a rise in demand for sleek and minimalist designs, as well as furniture made from sustainable materials. Additionally, there is a growing interest in multi-functional furniture that can be easily rearranged and adapted to different outdoor activities.

Local special circumstances: in Cambodia have also contributed to the development of the Outdoor Furniture market. The country's tourism industry has been growing steadily, attracting both domestic and international visitors. As a result, there is a demand for outdoor furniture in hotels, resorts, and restaurants to enhance the overall guest experience. Additionally, the rise of outdoor events and social gatherings has further fueled the demand for outdoor furniture.

Underlying macroeconomic factors: have played a significant role in the development of the Outdoor Furniture market in Cambodia. The country's economic growth has led to an expansion of the middle class, who have more disposable income to spend on leisure and lifestyle products. This has created a favorable market environment for outdoor furniture manufacturers and retailers. Furthermore, the government's focus on promoting tourism and improving infrastructure has created opportunities for the outdoor furniture industry to cater to the growing demand from the hospitality sector. In conclusion, the Outdoor Furniture market in Cambodia is developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for outdoor furniture has increased as customers prioritize outdoor living spaces and seek furniture that is both functional and aesthetically pleasing. The market is also witnessing a shift towards modern and contemporary designs, as well as sustainable and multi-functional furniture. The country's growing tourism industry and expanding middle class have further fueled the demand for outdoor furniture. Overall, the Outdoor Furniture market in Cambodia is expected to continue its growth trajectory in the coming years.

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 categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.