Outdoor Furniture - Gambia

Gambia

In Gambia, the revenue generated in the Outdoor Furniture market is projected to reach €1.19m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.74% from 2024 to 2029 (CAGR 2024-2029).
When compared to the global market, in the United States generates the highest revenue, amounting to €16,940m in 2024.
In terms of per capita income, each person in Gambia contributes approximately €0.42 to the revenue in the Outdoor Furniture market in 2024.
Gambia's outdoor furniture market is experiencing a surge in demand due to the country's growing tourism industry.

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

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Analyst Opinion

The Outdoor Furniture market in Gambia is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Outdoor Furniture market in Gambia are shifting towards more durable and weather-resistant materials such as teak, rattan, and aluminum. This is driven by the desire for long-lasting furniture that can withstand the country's hot and humid climate. Customers also prefer furniture that is easy to clean and maintain, as well as comfortable and aesthetically pleasing. Trends in the market include the growing popularity of outdoor living spaces and the increasing demand for multifunctional furniture. As more people in Gambia are embracing outdoor living, there is a greater need for furniture that can create comfortable and functional outdoor spaces. This has led to the rise of modular furniture that can be easily rearranged to suit different occasions and preferences. Additionally, there is a growing interest in eco-friendly and sustainable outdoor furniture options, as customers become more conscious of the environmental impact of their purchases.

Local special circumstances: in Gambia, such as the tourism industry and cultural traditions, also contribute to the development of the Outdoor Furniture market. Gambia is a popular tourist destination known for its beautiful beaches and natural landscapes. This attracts both domestic and international tourists who seek outdoor furniture for their hotels, resorts, and private villas. Furthermore, Gambia has a rich cultural heritage with traditional outdoor gatherings and ceremonies. This creates a demand for outdoor furniture that reflects the local traditions and craftsmanship. Underlying macroeconomic factors play a role in the growth of the Outdoor Furniture market in Gambia. The country's stable economic growth and increasing disposable income levels enable more people to invest in outdoor furniture. Additionally, the government's efforts to promote tourism and attract foreign investment contribute to the expansion of the market. With the construction of new hotels and resorts, there is a growing need for outdoor furniture to enhance the guest experience. In conclusion, the Outdoor Furniture market in Gambia is developing due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. As customers in Gambia seek durable and weather-resistant furniture, the market is responding with innovative designs and materials. The growing popularity of outdoor living spaces and the demand for multifunctional furniture also drive the market forward. Furthermore, the tourism industry and cultural traditions in Gambia create unique opportunities for the Outdoor Furniture market. With stable economic growth and increasing disposable income levels, the market is expected to continue growing 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.