Outdoor Furniture - Baltics

Baltics

In 2024, the revenue in the Outdoor Furniture market in the Baltics amounts to US$55.06m.
It is projected that the market will experience an annual growth rate of 2.36% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$18,450m in 2024.
In terms of per person revenues, each individual in the Baltics generates US$9.46 in 2024.
In the Baltics, the demand for outdoor furniture has been steadily increasing due to the region's growing interest in outdoor living and entertaining.

Key regions: United States, Worldwide, Germany, India, Denmark

Market

Region

Region comparison

Currency

Analyst Opinion

The Outdoor Furniture market in Baltics is experiencing significant growth and development in recent years. Customer preferences in the Baltics have shifted towards outdoor living and spending more time in nature. This has led to an increased demand for outdoor furniture, as people are looking to create comfortable and stylish outdoor spaces. Additionally, the growing trend of staycations and outdoor entertaining has also contributed to the rise in popularity of outdoor furniture in the region. Trends in the market show that consumers in the Baltics are increasingly seeking durable and weather-resistant outdoor furniture. This is due to the region's unpredictable weather conditions, with cold winters and humid summers. As a result, there is a growing demand for materials such as teak, aluminum, and synthetic wicker that can withstand these weather conditions and require minimal maintenance. Another trend in the market is the focus on eco-friendly and sustainable outdoor furniture. Consumers in the Baltics are becoming more conscious of their environmental impact and are seeking products that are made from sustainable materials and produced using environmentally friendly processes. This has led to the emergence of eco-friendly outdoor furniture brands in the region, offering products made from recycled materials or sustainably sourced wood. Local special circumstances in the Baltics also contribute to the development of the outdoor furniture market. The region's long and cold winters mean that people tend to spend more time indoors, leading to a greater appreciation for outdoor spaces during the warmer months. This has created a demand for outdoor furniture that is not only functional but also aesthetically pleasing, as people want to make the most of their outdoor living spaces during the limited summer season. Underlying macroeconomic factors such as rising disposable incomes and increasing urbanization also play a role in the growth of the outdoor furniture market in the Baltics. As incomes rise, consumers have more purchasing power to invest in outdoor furniture and create their ideal outdoor living spaces. Additionally, as cities in the region continue to develop and urbanize, outdoor spaces such as balconies and terraces become more valuable, further driving the demand for outdoor furniture. In conclusion, the Outdoor Furniture market in the Baltics is experiencing growth and development due to changing

Customer preferences:

Trends in the market:

Local special circumstances: and

Underlying macroeconomic factors:. As consumers in the region prioritize outdoor living and seek durable and eco-friendly outdoor furniture, the market is expected to continue its upward trajectory.

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 segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.