Outdoor Furniture - Malawi

Malawi

In Malawi, the revenue generated in the Outdoor Furniture market in 2024 amounts to €213.40k.
It is projected that the market will experience an annual growth rate of 3.37% (CAGR 2024-2029).
When compared to global figures, in the United States generates the highest revenue in this segment, reaching €16,940m in 2024.
In terms of per person revenues, in Malawi generates €0.01 in 2024.
Malawi'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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Outdoor Furniture market in Malawi is experiencing steady growth due to increasing customer preferences for outdoor living spaces, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Malawi are increasingly valuing outdoor living spaces as an extension of their homes. They are seeking comfortable and stylish outdoor furniture that allows them to relax, entertain guests, and enjoy the natural beauty of their surroundings. Additionally, customers are placing a greater emphasis on durability and sustainability, opting for furniture made from eco-friendly materials that can withstand the country's climate and weather conditions.

Trends in the market: One of the key trends in the Outdoor Furniture market in Malawi is the growing popularity of outdoor dining sets. As more people embrace outdoor entertaining, there is a rising demand for dining sets that can accommodate larger groups of people. This trend is driven by the cultural value placed on communal dining and the desire to create inviting spaces for socializing and gathering with friends and family. Another trend in the market is the increasing demand for multifunctional outdoor furniture. Customers are looking for furniture pieces that can serve multiple purposes and adapt to different outdoor activities. For example, modular seating arrangements that can be rearranged to create different seating configurations or daybeds that can be transformed into loungers or sofas.

Local special circumstances: The warm climate and abundance of natural beauty in Malawi make outdoor living spaces an integral part of the lifestyle. With an average temperature of 24°C (75°F) and a high amount of sunshine throughout the year, Malawians have ample opportunities to enjoy their outdoor spaces. This cultural preference for outdoor living contributes to the growing demand for outdoor furniture.

Underlying macroeconomic factors: Malawi's improving economy and rising disposable income levels are also contributing to the growth of the Outdoor Furniture market. As more people have the means to invest in their homes and outdoor spaces, the demand for high-quality outdoor furniture is increasing. Additionally, the government's efforts to promote tourism and attract foreign investment are driving the development of resorts, hotels, and other hospitality establishments, which in turn creates a demand for outdoor furniture. In conclusion, the Outdoor Furniture market in Malawi is experiencing growth due to increasing customer preferences for outdoor living spaces, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As customers seek comfort, style, and durability in their outdoor furniture, the market is evolving to meet these demands. With the country's warm climate and emphasis on outdoor living, the market is expected to continue its upward 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.