Market Trends of Restaurant Furniture Industry
Increasing Demand for Patio Furniture
Patio furniture, also called Garden furniture or outdoor furniture, is a type of furniture specifically designed for outdoor use. Revenue in the Outdoor Furniture segment amounts to USD51.77bn in 2023. The market is expected to grow annually by 4.85% (CAGR 2023-2028). In global comparison, most revenue is generated in the United States (USD17,790.00m in 2023). About total population figures, per-person revenues of xx are generated in 2023.
The growth of the restaurant furniture industry is primarily driven by the rising need for patio furniture products in hotels, resorts, open spaces, and public gardens. These trends are mainly observed in seaside areas, hill stations, scenic beauty places, and historical monuments. In addition, consumer attention is changing to enhancing outside areas to provide more aesthetically pleasing and comfortable designs in balconies, gardens, and porches, supporting industry development.
Asia-Pacific is Expected to Witness the Highest Growth
Shortly, there will be an increasing demand for restaurant furniture in Asia-Pacific regions, which is expected to drive the market for more high-quality restaurant furniture.
Rising consumer income, changing demographics, and a good macroeconomic outlook in emerging Asian nations are anticipated to drive demand for restaurant renovation. The growth of a brand may depend critically on innovation, excellence in retailing, and pricing customized to specific market categories.
Nowadays, due to the accessibility of a large range of restaurant furnishings goods at reasonable costs, every consumer prefers and relies on online retail platforms to purchase furniture. The two main drivers influencing the restaurant furniture market in the Asia-Pacific region are improving lifestyles and rising disposable income.
