Market Research Report
Rattan Furniture Market - Growth, Trends, COVID-19 Impact and Forecast(2022 - 2027)
|Rattan Furniture Market - Growth, Trends, COVID-19 Impact and Forecast(2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 120 Pages
Delivery time: 2-3 business days
Rattan Furniture market is signifying majority of Asian countries such as China, India, and Japan, as well as African countries such as Ghana, Nigeria, and Cameroon are promoting the cultivation of rattan and thus, manufacturing of Rattan Furniture is mainly found in Asia countries making Asia-PAcifc the largest market of it. And the economically cheap products are further exported to the western countries making Europe demands one of the key market drivers. Cultivation of rattan provides an economically viable means towards eradicating poverty from rural societies and helps people to sustain and support their livelihood.
Rattan is increasingly becoming a preferred choice over timber as it's easier to harvest, transport, and is relatively affordable. It's water-resistant by nature and offers high durability. Its benefits result in the sustainable use of rattan in applications such as furniture, shelter, and handicraft products. Rattan is also used to produce flooring, charcoal, mats/screens, and woven products. Therefore, a vast range of commercial applications is anticipated to boost the sales of rattan products and subsequently, drive the market growth over the forecast period.
However, the usage of toxic chemicals in the processing of processed rattan products including furniture, flooring, and pulp & paper escalates the introduction and implementation of stringent laws and regulations. The intrusion of such regulations may negatively impact the long-term supply, cost, and sales of rattan products. These factors are expected to challenge the market growth over the forecast period.
The coronavirus pandemic hit the manufacturing, logisctics and sales of Rattan Furniture very badly. It decreased the export of Rattan wood from Indonesia, China and thus halted the manufacturing in the western countries and Asian countries impacting the Rattan Furniture Market drastically. However, the rise in constructions and opening up of the markets globally has brought the Rattan Furniture Market back on the track leading to grow the market at the normal pace through out the forecast period.
China being the largest producer of rattan products followed by Indonesia, have 5 types of Rattan wood production resulting in a huge variety of outdoor rattan furniture. Other largest sources are the Philippines, Vietnam, and Singapore making the market focused mainly on the Asia Pacific. The authentic Rattan Furniture at cheaper prices is being exported to the western countries and other countries globally, leading to growing the rattan Furniture Market.
As, the restaurants, lounges, and offices remained closed due to lockdown during COVID-19. It led to impact the outdoor furniture products of Rattan Furniture for the worst. The outdoor category furniture, in essence, the need for Rattan furniture has hit very bad because of coronavirus pandemic inducing indoor lifestyle. Now the revenue from commercial end-users such as lounges, restaurants, Picnic spots has fallen drastically in revenue generation for the Rattan furniture market whereas the Residential end-users have increased the need for it because of WFH culture.
The Rattan Furniture Market is highly competitive and fragmented because of highly experienced and famous brands from India, China, Japan, and other regions of Asia-Pacific which keep on introducing Rattan Furniture products as it's found mainly in Asian countries giving authenticity of Asia-Pacific with a large number of unorganized players dominating the market. Leading local and foreign players are present in each price range globally. International chains and their brands such as Sutraa, The Keter, Tuuci are widely famous and leading the market. Other brands such as Ashley, Vermont, Vixen Hill have been focusing on innovating modern and contemporary designs for Rattan Furniture Market from past long time. International tie-ups with furniture makers in the consumer countries to promote rattan products in the market.