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The plastic furniture market size is forecast to increase by USD 3.64 billion, at a CAGR of 4.67% between 2022 and 2027. The plastic furniture 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 plastic furniture 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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This report provides a detailed analysis of the market by Distribution Channel (Offline and Online), End-user (Residential and Commercial), and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
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 9.40 billion in 2017 and continued to grow till 2021. 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 43% 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. Another region offering significant growth opportunities to companies is North America. The US, Canada, and Mexico are some of the major countries contributing to the growth of the market in North America. High income in developed economies and high urbanization are among the major factors driving the growth of the market in North America. Owing to high disposable incomes in key countries such as the US and Canada, the demand from residential and commercial sectors is estimated to increase during the forecast period.
Furthermore, the highly developed retail sector and the extensive presence of e-commerce lead to the quick and efficient transportation products across the supply chain up to end-consumers. This, in turn, is a major driving factor for the growth of the market in focus in the region during the forecast period. The widespread penetration of online platforms such as Amazon.com Inc. (Amazon) and Alibaba Group Holding Ltd. (Alibaba) drives the retail sector in the region, which offers growth opportunities to the regional market. All these factors are expected to drive the market in North America during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The online landscape is teeming with numerous emerging ventures like Wayfair and established corporate giants such as Walmart and Target, all eyeing the digital sphere to expand their customer base. Among these, millennials stand out as the primary demographic driving smartphone usage, thereby fueling the surge in online transactions. Consequently, this digital shift significantly contributes to the overall market revenue. With the United States boasting over 2 billion active smartphone users, it emerges as a frontrunner among developed nations in terms of smartphone adoption. This widespread smartphone usage provides companies with a vast platform to tap into the burgeoning online market, presenting ample opportunities for growth and expansion.
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. 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 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 has witnessed a significant surge, driven by the increasing demand for WFH furniture and versatile furniture amid the rise of work-from-home culture. Engineered plastics such as polyethylene and polypropylene dominate the sector, offering a blend of durability, waterproof properties, and lightweight construction. These high-performance plastic polymers cater to diverse needs, from traditional furniture to compact modular homes in nuclear families. With a focus on eco-friendly initiatives, manufacturers are incorporating recyclable plastics and innovative materials derived from oceanic plastics and plastic bottles to address concerns about non-biodegradable plastic. The market's growth is further propelled by the real estate industry and hospitality industry, favoring affordable, low-maintenance, and corrosion-resistant solutions. Online distribution channels amplify accessibility, offering a wide range of plastic furniture for both residential and commercial segments with enhanced durability and elegant design.
Additionally, the market is witnessing substantial growth, driven by various factors reshaping the furniture industry. While traditional materials like wooden and metal furniture continue to dominate, plastic furniture is gaining traction, especially among small businesses and homeowners seeking innovative designs and cost-effective solutions. One key advantage of plastic furniture is its durability, as it offers excellent resistance to ultraviolet light, corrosion, termites, and bugs. Additionally, plastic furniture is known for its flexibility, making it suitable for portable and lightweight designs. Manufacturers are also focusing on producing multi-functional furniture using high-performance plastic materials, catering to diverse consumer needs. Moreover, the rising demand for eco-friendly alternatives has led to the development of plastic furniture made from recycled materials, addressing environmental concerns. However, some challenges persist, such as the perception of plastic furniture lacking elegance and certain characteristics compared to traditional materials like wood. Nevertheless, with advancements in PVC technology and expanding applications in segments like kitchens and bathrooms, coupled with offline distribution channels catering to the residential segment, the market for durable plastic furniture is expected to continue its growth trajectory.
The market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Plastic Furniture Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.67% |
Market growth 2023-2027 |
USD 3.64 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.12 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
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, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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