Outdoor Furniture - Malaysia

Malaysia

In Malaysia, the Outdoor Furniture market generates a revenue of €247.40m in 2024.
It is projected to experience an annual growth rate of 3.93% (CAGR 2024-2029).
When comparing globally, in the United States leads in terms of revenue with €16,940m in 2024.
Looking at the per capita perspective, each person in Malaysia contributes €7.14 in revenue in 2024.
The demand for outdoor furniture in Malaysia is on the rise due to its tropical climate and growing interest in outdoor living spaces.

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

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Outdoor Furniture market in Malaysia has been experiencing significant growth in recent years.

Customer preferences: Customers in Malaysia have shown a growing interest in outdoor living and leisure activities, which has contributed to the increasing demand for outdoor furniture. With the country's warm climate and beautiful natural landscapes, many people in Malaysia enjoy spending time outdoors, whether it be in their gardens, balconies, or public parks. As a result, there is a strong demand for comfortable and stylish outdoor furniture that can enhance the outdoor experience.

Trends in the market: One of the key trends in the outdoor furniture market in Malaysia is the increasing popularity of multifunctional and space-saving furniture. As urbanization continues to drive smaller living spaces, there is a growing need for furniture that can serve multiple purposes and be easily stored when not in use. This trend is particularly evident in the demand for foldable chairs and tables, modular seating arrangements, and compact outdoor dining sets. Another trend in the market is the growing preference for eco-friendly and sustainable outdoor furniture. As environmental consciousness increases among consumers, there is a greater demand for furniture made from recycled materials, as well as products that are designed to minimize waste and energy consumption during the manufacturing process. This trend aligns with the global movement towards sustainability and reflects the changing values and preferences of Malaysian consumers.

Local special circumstances: One of the unique challenges in the Malaysian outdoor furniture market is the country's tropical climate. The high humidity and heavy rainfall can have a significant impact on the durability and longevity of outdoor furniture. As a result, there is a need for furniture that is resistant to moisture, mold, and UV radiation. Manufacturers and retailers in Malaysia have responded to this challenge by offering a wide range of weather-resistant materials, such as synthetic rattan, teak wood, and aluminum, which are designed to withstand the harsh outdoor conditions.

Underlying macroeconomic factors: The growth of the outdoor furniture market in Malaysia is also influenced by several macroeconomic factors. The country's strong economic growth, rising disposable incomes, and increasing urbanization have all contributed to the growing demand for outdoor furniture. Additionally, the government's efforts to promote tourism and develop public spaces have created opportunities for the outdoor furniture market. The expansion of hotels, resorts, and outdoor recreational areas has further fueled the demand for outdoor furniture in Malaysia. In conclusion, the outdoor furniture market in Malaysia is experiencing growth due to customer preferences for outdoor living, trends towards multifunctional and sustainable furniture, local special circumstances related to the tropical climate, and underlying macroeconomic factors such as economic growth and government initiatives. As the market continues to evolve, it is expected that manufacturers and retailers will continue to innovate and cater to the changing needs and preferences of Malaysian consumers.

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.