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The plastic furniture market size is forecast to increase by USD 3.52 billion, at a CAGR of 4.36% between 2023 and 2028. The market is experiencing robust growth driven by several key factors. Firstly, the surge in online sales platforms has significantly expanded the reach of plastic furniture manufacturers, enabling them to tap into a wider consumer base globally. Secondly, the improving residential construction market has led to an increased demand for plastic furniture, particularly for outdoor and budget-friendly options. Lastly, the growing awareness of home décor trends and the preference for attractive yet affordable furnishings have fueled the demand for plastic furniture products. As consumers seek stylish, versatile, and durable furniture solutions, plastic furniture emerges as a popular choice due to its lightweight nature, low maintenance requirements, and affordability. With these driving factors in place, the market is poised for continued growth, with manufacturers innovating to meet the evolving needs and preferences of consumers in the home furnishing sector.
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The market share by the offline sales channel segment will be significant during the forecast period. The offline channel is an important sales channel in the market. Online shopping has become increasingly important and popular, but many consumers still prefer the familiar offline shopping experience. Customers can physically inspect and test furniture before purchasing in offline channels such as brick-and-mortar stores, furniture showrooms, and specialty retailers.
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The offline segment was valued at USD 9.72 billion in 2018. Offline channels are anticipated to account for a sizeable share of the sales channels of the market during the forecast period, especially in regions with relatively low acceptance of e-commerce or where customers prefer tactile experiences or intuitive operations. This is noticeable in regions that value treasures highly. Connections with people are provided by physical stores such as supermarkets and hypermarkets.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses various types of furniture made from materials such as Polypropylene and Polyethylene. These materials offer advantages like durability, resistance to weather conditions, and low maintenance. Bathroom Furniture is a significant segment within this market, with plastic being a popular choice due to its waterproof properties. Modern Trade channels and Specialty Stores are the primary distribution channels for plastic furniture. Aluminum, although not a plastic, is also used in the production of lightweight and rust-resistant furniture, providing stiff competition. The market is expected to grow steadily due to its affordability, versatility, and suitability for both indoor and outdoor use.
The market is witnessing significant growth due to its resistance to corrosion and weather ability. This type of furniture is highly preferred in various sectors including real estate, hospitality, residential projects, and commercial projects. Its flexibility and multi-functionality make it an ideal choice for modern homes and modular homes. The market is also driven by the versatility of plastic furniture, which can be used in a variety of settings such as playrooms and children's furniture. Plastic furniture is available in various materials like Polypropylene, Polyethylene, and Aluminum. These materials provide the furniture with strength and durability, making it suitable for outdoor use.
Recycled plastic furniture is also gaining popularity due to its eco-friendly nature and affordability. However, as a non-biodegradable product, there are concerns regarding its environmental impact. The market for plastic furniture is segmented into various categories such as Bathroom Furniture, Playroom Furniture, Children Furniture, Plastic Toys, and others. Specialty stores and modern trade channels are the major distribution channels for plastic furniture. The market is expected to continue its growth trajectory due to increasing demand from various sectors and the availability of innovative designs and styles.
Increasing online sales is notably driving market growth. Plastic furniture has gained significant traction in various sectors due to its inherent properties such as resistance to corrosion and superior weather ability. This versatile and multi-functional furniture is increasingly being used in the real estate sector for residential and commercial projects, as well as in the hospitality industry. With the rise of nuclear families and the trend towards modular homes, lightweight and easy-to-maintain plastic furniture has become a popular choice. The flexibility of plastic furniture is another key advantage, making it suitable for both indoor and outdoor use. High-performance plastic materials ensure strength and durability, making it an ideal option for outdoor settings. Recycled plastic furniture, made from plastic waste, is an eco-friendly alternative that aligns with the growing trend towards sustainability.
Moreover, the bathroom segment is another area where plastic furniture is gaining popularity due to its water-resistant properties. In summary, plastic furniture offers numerous benefits, including resistance to corrosion, superior weather ability, flexibility, versatility, multi-functionality, and ease of maintenance. Its use is expanding across various sectors, including real estate, hospitality, and commercial projects, and it is increasingly being perceived as a stylish and elegant option, challenging the traditional perception of plastic as a non-biodegradable product. Thus, such factors are driving the growth of the market during the forecast period.
The market is witnessing a surge in demand for eco-friendly and sustainable alternatives, marking a significant trend. Heightened environmental consciousness among consumers is prompting them to seek furniture solutions that minimize their ecological footprint. This growing preference has sparked an increased acceptance of products crafted from recycled and biodegradable materials. Manufacturers are responding to this shift by integrating advanced materials and technologies, such as bioplastics, into their production processes. Recycled plastic furniture plays a pivotal role in reducing dependency on virgin plastic and fostering a circular economy by repurposing consumer or industrial plastic waste.
Conversely, furniture composed of biodegradable plastics offers the advantage of decomposing over time, addressing concerns about long-term environmental impacts associated with plastic waste accumulation in landfills and oceans, as well as pollution of water bodies and ecosystems. This shift towards eco-friendly alternatives aligns with the global sustainability trend, driving growth in the focused market segment during the forecast period.
The unpredictability of raw material prices is posing a challenge for the market, and price volatility of raw materials such as polymers, resins, and additives can have a significant impact on the stability and profitability of the industry. This uncertainty is caused by unpredictable factors such as supply chain disruptions, geopolitical tensions, and changing market dynamics. To effectively manage risk, manufacturers and suppliers in the industry must continuously monitor and evaluate raw material prices.
Moreover, such unpredictable price fluctuations are difficult to manage as they affect production costs, profit margins, and overall market competitiveness. Adapting to this uncertainty and minimizing its impact is imperative for companies in this space. Therefore, commodity price uncertainty presents challenges that may impede the growth of the focus market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Plastic furniture has gained significant popularity in various sectors due to its versatility and multi-functionality. Its resistance to corrosion and weather ability make it an ideal choice for outdoor settings, particularly in the hospitality and real estate industries. In residential projects, plastic furniture is preferred for its lightweight and easy-to-maintain features, making it suitable for small spaces and nuclear families. The commercial segment also utilizes plastic furniture extensively in offices and public spaces. The flexibility of plastic furniture allows for modular designs, enabling customization for different spaces. Recycled plastic furniture is a growing trend, with companies like DuraOcean and DuraLand leading the way.
Further, the use of recycled plastic not only reduces plastic waste but also enhances the perception of elegance and sustainability. Plastic furniture comes in various forms, including kitchen furniture, bathroom furniture, and even children's furniture. The kitchen segment and bathroom segment are increasingly adopting high-performance plastic materials for their durability and easy-to-clean properties. Plastic toys are also popular due to their lightweight and safe features. Despite its benefits, plastic furniture faces criticism as a non-biodegradable product. However, the use of eco-friendly recycled plastic and PVC is becoming more common. Augmented reality and virtual reality technologies are also being explored to enhance the shopping experience for plastic furniture buyers. The future of plastic furniture looks promising, with continuous innovation and sustainability at its core.
In addition, the market continues to grow, driven by its immunity to termites and bugs, making it ideal for both the residential segment and the hospitality sector. Offering lightweight furniture and portable furniture options, plastic furniture competes with traditional materials like wood and metal, particularly in living and dining room furniture. Its eco-friendly nature appeals to consumers focused on sustainability, while Easy-to-maintain furniture and maintenance enhances its appeal in both indoor and outdoor settings. Advances in plastic technology have bolstered its strength and durability, expanding its application beyond basic designs to include stylish and functional pieces. As demand for versatile, cost-effective, and weather-resistant furniture rises, the plastic furniture strength market remains poised for further innovation and growth, catering to modern lifestyles and environmental consciousness.
Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2023-2027 |
USD 3.52 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.11 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 44% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashley Furniture Industries LLC, Avro India Ltd., Cello World Pvt. Ltd., Harwal Group, Inter IKEA Holding BV, JYSK, Keter Home and Garden Products Ltd., Kristalia SRL, Mangochairs, Nilkamal Ltd., PIL Italica Lifestyle Ltd., Prakash Plastic Works, Prima Plastics Ltd., Sathya Corp., Siddhi Polymers, Taizhou Huangyan Fow Mould Co. Ltd., The Supreme Industries Ltd., Tramontina USA Inc., UMA Plastics Ltd., and Vitra International AG |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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