New York, Nov. 27, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Asia Pacific Outdoor Furniture Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Material ; Product ; and End User” – https://www.reportlinker.com/p05989505/?utm_source=GNW
The outdoor furniture market on a wide scale has been witnessing substantial growth in the recent past.
Factors including the rise in consumer spending & traveling trends resulted in a rise in the number of tourists across the world.These factors are mostly observed in tourist spots, beach sides, and hill stations, thereby leading to multiplying counts of motels, hotels, guest houses, resorts, open spaces, and public gardens.
The rise in focus towards attractive garden and lounge areas has perpetually driven the demand for aesthetic items such as chairs, tables, and other accessories.It is expected to have a positive impact upon market growth.
The shift in consumer spending towards better living backed by rise in per capita and disposable income has augmented the growth of outdoor furniture market. Furthermore, renovations in old residential building along with new constructions have also channelized the demand for the better outdoor furniture facilities such as table, chairs or combination sets. In current era, consumers are looking out for outdoor furniture which offers the same level of comfort as that provided by the indoor furniture which has proliferated the demand for seating sets in the Asia Pacific outdoor garden furniture market. In addition to this, the usage of wood in production of outdoor garden furniture has also gained prominence with the growing focus over sustainability as well as aesthetic appearance.
Based on material, the Asia Pacific outdoor furniture market has been segmented into wood, metal, plastics and others.In 2018, the wood segment dominated the market, and the market for the plastic is projected to grow at the highest CAGR during the forecast period.
The growth of the plastic segment is primarily attributed to the fact that plastic are wide range of synthetic or semi-synthetic organic compounds that are malleable and so can also be molded into solid objects.Plastics are basically organic polymers with high molecular mass and often contain other substances as well.
They are primarily synthetic, and most commonly derived from petrochemicals.However, arrays of variants are prepared from renewable materials, including polylactic acid from corn or cellulosic from cotton linters.
In developed economies, approximately a third of plastic is utilized in packaging and roughly the same in buildings in applications, including piping, plumbing, or vinyl siding. Other uses include automobiles (up to 20% plastic), furniture, and toys. Low-density polyethylene (LDPE) is mainly used to prepare outdoor furniture, siding, floor tiles, shower curtains, and clamshell packaging.
Asia Pacific includes developed economies such as the China, japan, India, Australia, South Korea, Rest of APAC as a developing nation.The companies involved in the production of outdoor furniture are continuously enhancing the overall business processes to meet the customers demand in the best possible way.
Several domestic and international companies have a strong foothold in Asia Pacific.In the region, the China is a major market for outdoor furniture, followed by India and rest of Asia Pacific, respectively.
The demand for outdoor furniture in Asia Pacific has surged owing to the adoption of better standards of living along with higher income level in the western parts.An upsurge in the demand for outdoor gardening and outdoor & rooftop seating has created a fruitful growth of the market in the Asia Pacific region.
Rising disposable income, urbanization, and better lifestyles, further boosting the market. The high purchasing power of the consumers results in rising demand for outdoor furniture. The manufactured outdoor furnitures are marketed all across Asia Pacific. The Asia Pacific manufacturers at the nascent stage exported to other parts of the world. Besides this, the growing application of outdoor furnitures in residential and commercial applications also supports the market for outdoor furniture in the Asia Pacific region.
Agio International Company Ltd., Ashley Home Stores, Ltd., Barbeques Galore, Brown Jordan, Century Furniture LLC, Inter Ikea Systems B.V. and Keter Group are among the major players operating in the Asia Pacific outdoor furniture market.
The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe.As of August 2020, USA, Brazil, India, Russia, South Africa, Mexico, Spain and UK are among the worst-affected countries in terms confirmed cases and reported deaths.
The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.Shutdowns of consumer goods industry and disruptions in supply chains due to lockdown of countries has created a strain on the supplies of the various products offered by this industry.
India has the highest number of confirmed cases of COVID-19 infection among all Asia Pacific countries.The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market.
The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the COVID-19 would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, India has the highest number of COVID -19 confirmed cases.
The overall Asia Pacific outdoor furniture market size has been derived in accordance to both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically involved in the process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific outdoor furniture market.
Read the full report: https://www.reportlinker.com/p05989505/?utm_source=GNW
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